Ayala Corp. H1 core profit down 2%
In a regulatory filing, AC said its core net income fell to P23.7 billion, while its net income—which includes one-off items—increased by 5% to P23.4 billion due to higher impairments in the same period of 2024.
The company's telco unit, Globe Telecommunications Inc., reported an 11% drop in its core net income to P10.4 billion, on the back of lower gross service and higher depreciation and interest expenses.
Meanwhile, AC Energy (ACEN) saw a 24% drop in its core net income to P3.5 billion, dragged down by lower revenues from the damaged wind farms in Ilocos Norte, lower local spot market prices, weaker irradiance in the Philippines and Australia, and depreciation expenses from the newly operationalized plants.
'While our telco and energy businesses have some catching up to do, our full-year targets remain achievable. We are also encouraged to see our portfolio businesses showing better numbers,' AC president Cezar Consing said.
Banking unit Bank of the Philippine Islands (BPI) recorded an 8% increase in its net income to P33.0 billion, driven by strong loan growth and continued net interest margins, while property developer Ayala Land posted an 8% increase in its net income to P14.2 billion on steady revenues. —VBL, GMA Integrated News
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GMA Network
3 days ago
- GMA Network
Ayala Corp. H1 core profit down 2%
Ayala Corp. (AC), the Philippines' oldest conglomerate, on Wednesday reported a 2% decline in its core net income for the first half of the year, due to softer earnings from its telecommunications and energy businesses during the period. In a regulatory filing, AC said its core net income fell to P23.7 billion, while its net income—which includes one-off items—increased by 5% to P23.4 billion due to higher impairments in the same period of 2024. The company's telco unit, Globe Telecommunications Inc., reported an 11% drop in its core net income to P10.4 billion, on the back of lower gross service and higher depreciation and interest expenses. Meanwhile, AC Energy (ACEN) saw a 24% drop in its core net income to P3.5 billion, dragged down by lower revenues from the damaged wind farms in Ilocos Norte, lower local spot market prices, weaker irradiance in the Philippines and Australia, and depreciation expenses from the newly operationalized plants. 'While our telco and energy businesses have some catching up to do, our full-year targets remain achievable. We are also encouraged to see our portfolio businesses showing better numbers,' AC president Cezar Consing said. Banking unit Bank of the Philippine Islands (BPI) recorded an 8% increase in its net income to P33.0 billion, driven by strong loan growth and continued net interest margins, while property developer Ayala Land posted an 8% increase in its net income to P14.2 billion on steady revenues. —VBL, GMA Integrated News
GMA Network
17-07-2025
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BPI nets P33B in H1 2025
Ayala-led lender Bank of the Philippine Islands (BPI) on Thursday reported a 7.8% increase in its net income in the first six months of the year. BPI said its net income rose to P33.0 billion in the first half, as revenues grew 14.0% to P92.6 billion. Net interest income climbed 16.2% to P71.2 billion, while non-interest income rose 7.4% to P21.4 billion led by credit cards, insurance, and wealth management. Operating expenses for the first half increased 11.7% to P42.7 billion, as the bank spent on technology, business volume-related expenses, and manpower structural increases. Provisions for the period stood at P8.3 billion to reflect a 141.7% increase from the previous year, with the non-performing loan (NPL) ratio at 2.25%, and the NPL coverage ratio at 97.1%. Total assets climbed 9.3% to P3.4 trillion, while gross loans increased 14.1% to P2.4 trillion on the back of the growth across all portfolios, led by non-institutional loans. The bank in April said it was looking at loan growth of 12% to 13% this year, with non-institutional loans accounting for 30% of the total portfolio. —VBL, GMA Integrated News
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Ayala Corp. raises P20 billion from preferred share offer
(from left) Ayala Corporation Head of Corporate Strategy and Business Development Mark Robert H. Uy, Treasurer Estelito C. Biacora, Chief Legal Counsel Franchette M. Acosta, Comptroller Josephine G. De Asis, Deputy CFO Juan Carlos L. Syquia, CFO Alberto M. De Larrazabal, SEC Commissioner McJill Bryant T. Fernandez, SEC Chairperson Francis Edralin Lim, PSE President and CEO Ramon S. Monzon, COO Roel A. Refran, PSE Head of Issuer Regulation Division Marigel Baniqued-Garcia, and PSE General Counsel Veronica V. Del Rosario. Courtesy: Ayala Corp. Ayala Corp., the country's oldest conglomerate, has raised P20 billion from its preferred share offer, on the back of "substantial" interest from institutional and retail investors. The company sold a total of 5 million shares as the base offer and an oversubscription of 5 million shares, issued at P2,000 per share payable quarterly with an initial dividend rate of 6.2903% per annum. "The successful re-issuance and listing amidst global market uncertainties of our Preferred Class 'B' Shares reflects the enduring support of the investing public in both Ayala and the Philippine capital markets," Ayala Corp. president and chief executive officer Cezar Consing said in an emailed statement. "The Ayala Group accounts for 24% of the total outstanding preferred shares in the domestic market," he added. The shares were listed on the Philippine Stock Exchange (PSE) on Thursday, with Ayala represented by chief finance officer Alberto de Larrazabal, deputy chief finance officer Juan Carlos Syquia, chief legal officer Franchette Acosta, treasurer Estelito Biacora, and head of corporate strategy and business development Mark Robert Uy. "This issuance underscores the continued ability of Philippine corporate issuers like Ayala Corporation to access capital markets effectively, supporting their growth and optimizing capital despite uncertain and volatile market conditions," Larrazabal said. Ayala Corp. booked an all-time core net income in 2024 following the strong performance across its banking, property, telecommunications and infrastructure businesses. In its disclosure to the PSE last March, the company reported a core net income of P45 billion, up 10% year-on-year. — VDV, GMA Integrated News
