Ayala Corporation (AC) investor relations material

Executive summary

• Core net income was flat at P11.2B as higher earnings from BPI and Globe offset weaker ALI results; reported net income declined 5% to P12B due to a high base last year with one-off gains.

• Navigating a challenging environment with a resilient, diversified portfolio; most businesses performed well despite sector-specific headwinds.

• Focus on resilience through disciplined capital allocation, prudent cost management, and strong cash generation, while maintaining commitment to long-term value creation.

• Consolidated sales of goods and services increased 1% to P81.7B, driven by higher energy and EV sales, offset by lower real estate and IMI revenues.

• Balance sheet remains strong with consolidated cash at P71.9B and parent cash at P15.9B, supported by P79.8B in credit facilities.

Financial highlights

• Core NIAT steady at P11.2B; strong earnings from BPI and Globe offset by weaker ALI performance.

• Net income attributable to parent was P12.0B, a 5% decrease year-over-year; EPS (basic) was P18.05, down from P19.47.

• BPI net income up 14% to P11.8B; Globe core NIAT up 9% to P4.9B; ALI net income down 21% to P2.9B.

• ACEN core attributable EBITDA up 20% but core NIAT down 27% due to higher depreciation and financing costs.

• IMI net income up 21% to $4.5M post-divestment and cost optimization.

Outlook and guidance

• Near-term focus on resilience, cost management, and cash generation.

• Group does not expect liquidity problems and remains compliant with loan covenants.

• 2026 capex budget is P220–230B across the group, with major allocations to real estate, energy, and telecom.

• Continued commitment to long-term value creation and portfolio profitability.

• ALI budgets P50B for 2026 capex, ACEIC P3.5B for Q1, Globe targets below US$1B for the year.