SOURCE: ALLHC
The corporate world is seldom without its fair share of twists, turns, and surprises. One such revelation is the impressive financial performance of AyalaLand Logistics Holdings Corp. (ALLHC), an Ayala Land, Inc. (ALI) subsidiary, for the fiscal year 2023. ALLHC registered consolidated revenues of P3.51 billion and a net income of P635 million, painting a picture of resilience and successful strategic execution.
In this blog post, we will delve into the specifics of ALLHC's performance, examining its key revenue streams, new ventures, and future growth plans. It was indeed a year of record highs and strategic groundwork for future growth.
2023 was a year that saw a robust demand for industrial lots, with the total gross value reaching a record high of P2.6 billion. This was indeed a golden era for the company. However, the booked industrial lot sales revenues amounted to P1.55 billion, a 34% dip from the previous year, attributed to ongoing development works for industrial estates.
In April 2023, ALLHC launched its fifth industrial estate, the 55-hectare Batangas Technopark in Padre Garcia, Batangas. The launch was well-received by investors, marking a significant milestone in ALLHC's journey.
Warehouse leasing revenues posted a 2% growth to P659 million despite the facilities upgrade in ALogis Calamba. The upgrade, completed in the second quarter of 2023, was an essential step towards enhancing the company's capacity and service offerings.
During the same period, construction commenced for ALogis Mabalacat in Pampanga Technopark and the first build-to-suit facility located in Cavite Technopark. This initiative will add 23,000 square meters of warehouse gross leasable area (GLA) upon completion.
Cold storage revenues took a major leap forward in 2023, accelerating by 46% year-on-year to P176 million. This significant growth was driven by full year operations of ALogis Artico Mandaue and higher overall occupancy.
In the first half of 2023, ALLHC began expansions with construction underway for ALogis Artico Santo Tomas in Batangas and ALogis Artico Mabalacat in Pampanga. These expansions will add 10,000 pallet positions to the portfolio upon delivery.
Commercial leasing recorded an 8% growth to P872 million due to improvements in the malls’ occupancies and rental rates. This was coupled with increased customer foot traffic and steady office tenancy, demonstrating ALLHC's ability to navigate through challenging economic conditions.
The year 2023 was not just about immediate gains. ALLHC placed a significant focus on laying the groundwork for ongoing and upcoming endeavors. The company's leadership maintains a strong belief in the potential of the ongoing projects in the pipeline. The progress made in 2023 positions ALLHC well for growth in the coming years.
For the year 2024, ALLHC plans to make significant progress in land development works for its two industrial townships, namely Pampanga Technopark and Batangas Technopark. These developments will integrate commercial and mixed-use components such as transport terminals, gas stations, retail, and quick-service restaurants, and agricultural wholesale markets.
Other projects set to be completed in 2024 include the ALogis Mabalacat and Naic warehouse facilities, and the first phase of the A-FLOW data center campus with 6MW of IT capacity. Moreover, ALLHC plans to augment growth with the construction of a warehouse facility in Metro Manila, a cold storage facility in Luzon, and two more in the Visayas and Mindanao regions within the year.
All these efforts are strategically designed to increase the company's recurring revenue businesses. This approach reflects ALLHC's focus on establishing a secure and stable financial future, providing returns for investors, and contributing to the nation's economic growth.
The year 2023 was a testament to ALLHC's resilience, adaptability, and commitment to growth. As we move into 2024 and beyond, ALLHC continues to expand not just its network of industrial properties nationwide but also its industry presence, promising exciting times ahead.
The journey of ALLHC is a tale of strategic foresight, resilience, and robust growth. It's a story that business enthusiasts, investors, and industry observers will find enlightening and inspiring. As we look forward to witnessing ALLHC's future successes, we remember the year 2023 as a pivotal point in the company's growth story.
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