Conglomerate Ayala Corp. on Wednesday bared attributable net income rising 31 percent to P10.21 billion from previous year’s P7.8 billion, sustaining growth momentum from previous quarter as key businesses delivered strong earnings.
Core net income stood 61 percent higher to P9.4 billion.
Revenues rose 19 percent to P78.97 billion from P65.97 billion.
“One of our priorities is to end 2023 with profits above pre-Covid levels. Given our first quarter results, our constructive outlook for the year remains intact,” Ayala president and CEO Cezar P. Consing said.
Bank of the Philippine Islands net earnings were up 52 percent to P12.1 billion on the back of asset base expansion, sustained margin growth, and lower provisions.
Ayala Land Inc. net income grew 42 percent to P4.5 billion as its portfolio generated a 26 percent revenue growth on higher contributions across its business lines.
Globe Telecom Inc.’s income was cut nearly half to P7.25 billion from P13.64 billion due higher depreciation expenses offsetting the rise in data and digital service revenue.
ACEN Corp.’s net income was up fivefold to P2 billion, the result of higher net generation from wind sources, the commissioning of new power plants, and the shift to a modest net selling merchant position.
AC Energy and Infrastructure, the parent company of ACEN, posted profits 2.5 times more than previous to P2.7 billion due to improved contributions from ACEN and the recognition of pre-operating revenues from GN Power Dinginin.
The enterprise also committed to continue making strides in its emerging businesses AC Health and AC Logistics.
