Ayala Corp., a diversified investment holding company, reported a record net income of P42.0 billion for 2024, up 10 percent year-on-year increase. Excluding one-off items, its core net income hit P45.0 billion, marking a significant milestone for the company.
The listed investment holding company attributed its record earnings to strong performances delivered by its key business units, including Bank of the Philippine Islands, Ayala Land, Globe Telecom, and AC Energy & Infrastructure.
BPI achieved a record net income of P62.0 billion, up 20 percent, fueled by strong revenue growth and higher net interest margins despite rising operating expenses and provisions. Ayala Land’s net income rose 15 percent to P28.2 billion, supported by growth across its residential, commercial, and industrial units, with residential sales growing by 23 percent. Globe’s core net income increased by 14 percent to P21.5 billion, bolstered by solid contributions from Mynt, the operator of GCash. However, its reported net income slightly dipped by 1 percent to P24.3 billion due to lower one-time gains from tower sales.
In the energy sector, ACEN’s net income surged by 27 percent to P9.4 billion, driven by higher renewable energy output, while ACEIC reported a core net income of P10.7 billion, up 13 percent. The growth in ACEIC was attributed to new renewable energy capacity and increased financing income.
Capital expenditures for Ayala Corp. in 2024 totaled P176.8 billion, with the majority directed toward its real estate, energy, and banking sectors. Ayala Land allocated P84.6 billion to projects, and ACEN focused on expanding its renewable capacity with P21.4 billion in investments.
For 2025, Ayala’s capital expenditures are projected to reach P200 billion, with a continued focus on its core businesses, particularly renewable energy, real estate, and digital services. The company remains optimistic about further growth, especially with its emerging businesses set to drive future performance.
Commenting on the company’s performance, Ayala president and chief executive officer Cezar P. Consing said: “2024 was Ayala’s strongest year ever. We continue to be reliant on our core business units, but 2025 should be an inflection point for our smaller and newer businesses. We will continue to build a more concentrated, collaborative, and connected Ayala and grow businesses that deliver long-term shareholder value.”
As Ayala’s diverse portfolio continues to perform well, the company looks to further strengthen its position in various sectors, aiming for continued growth and long-term sustainability in 2025.
