Ayala Corporation, one of the country’s largest conglomerates, reported a 5 percent increase in attributable net income in the first nine months of the year reaching ₱33.96 billion, up from ₱32.31 billion in the same period last year. Core income rose 19 percent to ₱36.7 billion, fueled by the robust performance of key sectors like banking, property development, telecommunications, and energy.
Revenue for the period also grew 9 percent totaling ₱268.45 billion compared to only ₱245.38 billion in 2023. The growth underscores the strong operational performance of Ayala Corporation’s diversified business portfolio.
“Ayala’s growth is being sustained by the strong performances of our core businesses. We continue to manage our younger businesses to get them to sustainable trajectories in the near-term. We strive to build a simpler, more collaborative and more connected Ayala,” said Cezar P. Consing, president and CEO of Ayala Corporation.
A major contributor to the conglomerate’s growth was the Bank of the Philippine Islands (BPI), which posted a record-high net income of ₱48 billion, up 24 percent from prior year. The lender’s performance was driven by higher loans, expanded fee income, and improved net interest margins.
Ayala Land Inc., the company’s real estate arm, also posted impressive results, reporting 15 percent growth in net income to ₱21.2 billion, boosted by resilient demand in residential and consumer sectors.
In telecommunications, Globe Telecom Inc. posted a 7 percent increase in attributable net income reaching ₱20.75 billion, up from ₱19.29 billion last year. The increase was supported by record service revenue, lower operational expenses, as well as strong performance from GCash, the digital wallet platform operated by Globe Fintech Innovation Inc.
ACEN Corp., the renewable energy subsidiary, posted a 24 percent jump in net income to ₱8.1 billion, driven by higher energy generation from renewable sources and strong performance at the Philippine Wholesale Electricity Spot Market.
However, Ayala’s other units showed mixed results. AC Health saw its net loss widen to ₱417 million due to increased costs related to the ramp-up of its cancer hospital. Despite this, revenue grew 11 percent, with its healthcare services—comprised of clinics and hospitals—recording a solid 25 percent increase.
Meanwhile, AC Industrials narrowed its net loss to ₱5.1 billion, down from ₱6.1 billion in the same period last year. The improvement was driven by lower impairments, although core net loss widened to ₱921 million due to softer demand in Integrated Micro-Electronics Inc., increased costs from tax assessments, and forex-related losses.
Despite challenges in certain areas, Ayala Corporation’s overall performance underscores its strong financial health and commitment to sustainable growth across its diverse portfolio. With key sectors such as banking, property, and telecommunications driving the bottom line, the conglomerate is well-positioned to weather market volatility and continue expanding its business interests in the Philippines and beyond.
As Consing noted, Ayala’s focus remains on strengthening its core businesses while managing its ventures to sustainable expansion, ensuring long-term value for shareholders.
