Ayala profit hits P32B
AYALA Corp. said profit in the first nine months of the year reached P32.31 billion, up 39.87 percent from last year’s P23.9 billion.
Revenues amounted to P134.05 billion, up 12.39 percent from P119.27 billion last year.
Core profit was at P31 billion, up 42 percent.
Ayala said the growth was anchored by the “strong results” from units Bank of the Philippine Islands, Ayala Land Inc., and ACEN Corp.
“Ayala’s year-to- date core net income is already at par with its full year 2019 net income,” the company said.
BPI profit grew 26 percent to P38.6 billion due to sustained loan growth, margin expansion, and reduced provisions.
Ayala said that excluding a gain from a property sale last year, core net income increased 44 percent.
Ayala Land posted a core profit of P18.4 billion, up 38 percent, driven by sustained gains in its property development and commercial leasing businesses.
ACEN’s net income jumped 59 percent to P6.6 billion as new operating capacity and the company’s sustained net seller position were further lifted by one-off gains related to the partial sale of the Salak and Darajat plant.
Shell Pilipinas net slumps
Shell Pilipinas Corp. suffered a 53.4- percent slump in its net income in the first nine months of the year at P2.1 billion fromast year’s P4.4 billion.
The company said its net sales decreased by 10.8 percent from P213.25 billion to P190.26 billion, as a result of lower pump prices brought on by a general decline in oil prices globally.
Lorelie Quiambao-Osial, Shell Pilipinas president and chief executive officer, expressed optimism with the company’s growth on non-fuel retail business that helps in increasing foot traffic to retail stations.
“This growth is driven by our strong brand recognition, our convenient locations, our innovative product offerings for fuel and non-fuel retail customers and of course, our retailers and forecourt service champions,” Osial said.
MPIC earns P16B
Metro Pacific Investments Corp. said profit in the first nine months of the year expanded by 22.22 percent to P16.06 billion from P13.14 billion last year.
Revenues reached P44.79 billion, a 19.09 percent increase from P37.61 billion.
The company posted a 37 percent increase in core profit to P16.2 billion from P11.8 billion.
“Improved financial and operating results from MPIC’s holdings delivered a 31 percent increase in contribution from operations, mainly driven by the strong performance of the power generation business and higher water tariff for the water concession,” MPIC said.
Power had the largest share at P13.8 billion or 69 percent of net operating income while tollroads and water contributed P4.1 billion and P3.5 billion, respectively.
Manuel Pangilinan, MPIC chairman, said the company’s “consistently strong performance” reflects significant volume increases on MPIC core businesses of power, toll roads, and water, bolstered by favorable tariff adjustments and savings resulting from operational efficiencies.
GT Capital net rises 54%
GT Capital Holdings Inc. posted profit of P23.09 billion in the first nine months of the year, up 54 percent from P14.95 billion.
Core profit hit P23.25 billion, a 105 percent increase from P11.33 billion.
“The difference between GT Capital’s consolidated and core net income is from the conglomerate’s pro-rated share in its associate Metro Pacific Investments Corp.’s (Metro Pacific) non-recurring expenses during the period,” the company said in a statement.
GT Capital said Metropolitan Bank & Trust Company ( posted a profit of P31.8 billion, a 36 percent increase.
Profit of units Toyota Motor Philippines were at P10.9 billion; Federal Land Inc. , P1.9 billion and; AXA Philippines, P2.1 billion.
“Metrobank’s continued loan growth and margin expansion, TMP’s record sales levels and market leadership, and Federal Land’s strong reservation sales all drove GT Capital’s notable core net income growth during the period,” it said.
“Compared to the first nine months of pre-Covid 2019, the holding company’s consolidated and core net income for the same period this year are already significantly higher at 53 percent and 94 percent, respectively,” it added.
AGI sales hit P150B
Alliance Global Group Inc. (AGI) said profit in the first nine months of the year reached P20.1 billion, an 18 percent increase from P17.1 billion last year.
Revenues grew 17 percent to P150.4 billion from P128.4 billion.
Megaworld Corp. posted a profit of P12 billion, up 43 percent from P8.4 billion last year, with revenues up 14 percent to P48.6 billion from P42.63 billion.
Emperador Inc. posted profit of P6.8 billion over revenues of P47.1 billion.
Travellers International recorded profit of P773 million, reversing last year’s P235- million loss.
The McDonald’s master franchise under Golden Arches Development Corp. posted profit of P1.47 billion.
“The Alliance Global Group has sustained its strong financial and operating performance in the first nine months of the year even in the wake of persistent domestic and global economic challenges,” said Kevin Tan, AGI chief executive officer.
JG Summit core profit up 7.8%
JG Summit Holdings Inc. said core profit for the third quarter of the year hit P5.5 billion, up 7.8 percent from P5.1 billion the prior year.
Revenues grew 24 percent to P87.9 billion from P70.88 billion last year, with growth seen across all units.
“This was on the back of its airline – Cebu Air Inc. – achieving its strongest third quarter performance in history and its petrochemicals unit – JG Summit Oleochemicals Corp. – seeing doubled revenues coming from muted volumes in 2022,” it said.
“The turnaround in JG Summit’s air transport operations plus margin gains in its real estate and food businesses further boosted this stellar topline performance, outweighing the absence of the P3.2 billion gains from the sale of Meralco shares last year and a longer petrochemicals shutdown this year,” the conglomerate said.
JG Summit said it closed the period with a gearing and net debt to equity ratios of 0.70 and 0.57, respectively.
“We continued to sustain the topline growth and margin expansion with good operating results in the third quarter from our business units. We, however, remain cognizant of both macro and industry challenges that our SBUs continue to face, especially with the recent volatility in fuel costs and FX rates, and elevated borrowing costs. With this in mind, we carry through with our initiatives to improve efficiency and profitability, while pursuing growth,” said Lance Gokongwei, JG Summit chief executive officer.
Filinvest Land
Filinvest Land Inc. posted profit of P2.44 billion for the first nine months of the year, up 22 percent from last year’s P2 billion.
Revenues increased by 11 percent to P15.72 billion from P14.19 billion.
Residential revenues grew 9 percent to P9.83 billion on accelerated construction progress better sales, with the company launching P6.6 billion worth of residential projects for the period in Rizal, Laguna, Pangasinan, Cebu, Davao, South Cotabato, and Zamboanga.
The retail space leasing business posted revenue of P1.75 billion, a 57 percent increase, attributed to better mall occupancy and rise in shopper traffic as well as normalized rental rates.
Office space lease meanwhile dropped 2 percent to P3.4 billion due to continuing challenges in the sector from flexible work arrangements.
GMA Network Inc.
GMA Network Inc. said its net income after tax went down by 52 percent to P2.5 billion in the first nine months of the year against P5.12 billion in the same period last year attributed to lower revenues due to the absence of the windfall from political advertisements.
GMA’s consolidated revenues were down by 18 percent to P13.8 billion from January to September this year from P16.8 billion in the previous year, due to the absence of the windfall from aforesaid political advocacies and advertisements last year.
Due to lukewarm revenues aggravated by increased expenditure, the combined Earnings before interest, taxes, depreciation, and amortization (EBITDA) concluded the first three quarters of this year at P4.88 billion, equivalent to a 39 percent decrease of P3.13 billion from the strong EBITDA of over P8 billion recorded in the previous year.
ABS-CBN
ABS-CBN Broadcasting Corp. reported a P3.33 billion net loss in the first nine months of the year, higher than last year’s P1.83 billion net loss.
The company’s total consolidated revenues were P 13.5 billion, flat versus the previous period’s P13.56 billion excluding non-recurring advertising revenues. There would be a 5.5 percent decline versus the previous period after adding back non-recurring advertising sales of P 757 million in 2022.
Regular advertising sales for the first nine months of 2023 were P 4.83 billion, an increase of 18 percent compared to 2022. After adding back election-related (non-recurring) advertising sales of P 757 million in 2022, total advertising revenues for the first three quarters of 2023 were flat compared to the previous period.
Consumer sales were at P 8.691 billion – lower by 8 percent versus 2022 due to the decline in cable TV and satellite customers for both Sky and TFC.
Century Pacific
Realtor Century Properties Group Inc. (CPG) said it grew profit in the first nine months of the year by 13 percent to P1.3 billion from P1.1 billion last year.
Revenues grew 10 percent to P9.7 billion from P8.7 billion.
“The higher revenues were anchored on the steady rise in the contribution of CPG’s First-Home residential developments (First-Home) segment amounting to P5.3 billion or 55 percent of total revenues, an increase of 28 percent from P4.2 billion,” the company said.
“CPG’s in-city vertical developments and commercial leasing segments contributed 30 percent or P2.9 billion and 10 percent or P1 billion, respectively. The remainder came from property management segment which contributed P376 million,” it added.
Ponciano Carreon, Jr., CPG chief finance officer, expressed optimism on the prospects of the company, noting the “economic recovery of the country (that) fully supports the growing demand of Filipinos for quality and affordable first homes.”
“This translated into a strong sales take-up for our First-Home products and has put CPG on track to surpass its pre-pandemic performance despite the persisting headwinds,” he said.
CLI reservation sales jump 25%
VisMin developer Cebu Landmasters Inc. (CLI) grew first nine months profit by 28 percent to P3 billion from P2.4 billion last year.
Revenues hit P12.93 billion, up 17.97 percent from P10.96 billion last year.
The company said reservation sales grew 25 percent to P17 billion.
“Casa Mira, CLI’s flagship economic brand, accounted for 52 percent of total sales, underscoring continued strong demand for housing in the economic market,” it said.
CLI launched 3,664 units for the period worth P14.87 billion.
“We are very pleased with our performance this year, achieving double-digit profit expansions in the last three quarters despite the headwinds of inflation and higher interest rates in the country. This underscores CLI’s commitment to providing value to shareholders and affirms the sustainability of our growth trajectory,” said Jose Soberano III, CLI chairman.
CLI said capital expenditures for the period reached P10.4 billion, mostly allocated to project development.
The company said it bought a 21-hectare land General Santos City for the period, planned to be developed as economic and mid-market communities.
AllDay Marts sales reach P7B
Villar-led AllDay Marts Inc.,reported that it posted a profit of P254 million for the first nine months of the year, a 154 percent increase from last year’s P100 million.
Revenues hit P7.43 billion, up 5.2 percent from P7.06 billion.
Earnings before interest tax depreciation and amortization (EBITDA) was at P693 million, up 11 percent from last year’s P625 million.
“As we head into the fourth quarter–a historically strong quarter for AllDay–we are pleased with our business results at the 9M2023 mark of this year” said Manuel Villar Jr., AllDay chairman.
“This upcoming holiday season will be very similar to pre-pandemic levels. Movement and travel restrictions have been lifted here and abroad, and OFWs are coming home again to spend time with their loved ones. With this season of celebrations, our supermarket concept is ready to capitalize on a market that is now again very comfortable with spending time shopping in-store,” he added.
Frances Rosalie Coloma, AllDay chief executive officer, expressed optimism on the company’s prospects towards the holiday season.
“Despite normalizing sales levels and inflationary pressures evident throughout 2023, we are happy to report continued momentum for AllDay as we head into the last quarter of 2023,” she said.
Apex Mining grosses P8.7B
Apex Mining Co. Inc. recorded a 17 percent hike in its consolidated gross revenues for the first nine months of 2023 at P8.7 billion compared to last year’s P7.5 billion for the same period in 2022.
However, the company’s consolidated net income was lower by 6 percent at P2.3 billion compared to P2.5 billion as of September 30 2022.
Apex Mining also said for the period, the combined operations of its Maco mine in Davao de Oro and the Sangilo mine in Benguet milled a total of 701,713 tons equivalent to a 2 percent growth compared to last year.
The consolidated gold ounces sold by Apex Mining’s two operating mines for the three quarters of this year also reached 77,652, a 6 percent increase than last year’s 73,219 ounces.
ACR
Alsons Consolidated Resources Inc. (ACR) booked a 32 percent surge in its net income in the first nine months of the year at P1.8 billion from P1.35 billion inr the same period in 2022.
The company attributed the increase to the operations of the 210 megawatts (MW) coal-fired power plant in Sarangani which currently provides power to key areas in Mindanao including Sarangani Province, General Santos, Cagayan de Oro, Iligan, Dipolog, Dapitan, Pagadian, Samal, Tagum, Kidapawan and Butuan.
ACR’s revenues for the period rose 8 percent to P10 billion from P9.3 billion recorded in the first nine months of 2022.
The company said its 100 MW Western Mindanao Power Corp. (WMPC) diesel plant in Zamboanga City was also another key revenue contributor for the period.
ACR said WMPC is the only major power generation facility in the Zamboanga Peninsula that provided power to Zamboanga City and supplying vital ancillary services to the National Grid Corporation of the Philippines to help stabilize the power grid in the region.
CREIT lease surges 31%
Citicore Energy REIT Corp. (CREIT) posted a 31 percent increase in its lease revenues for the first nine months of the year at P1.31 billion from the P996.8 million recorded in the same period last year.
The performance was largely attributed to newly acquired land assets in Batangas, Pampanga, and Pangasinan using proceeds of its ASEAN Green Bond issuance last February 2022.
CREIT said these properties total 518 hectares and contributed 23 percent or P307 million to total revenues.
The company added it is currently the country’s largest REIT landlord with 7,160,000 square meters of leasable area as of end-September 2023 with a weighted average lease expiry of 21.7 years owing to a 100 percent occupancy on all its leased properties.
