Ayala Land (ALI) investor relations material

Executive summary

• 9M26 revenue was P109.2B, down 10% YoY, and net income was P17.5B, down 18%; leasing and hospitality growth partly offset weaker property-development revenue.

• Net gearing was 0.78:1; CAPEX was P53.1B, down 19% YoY.

Financial highlights

• Total revenue fell to P109.2B from P121.8B; real estate revenue declined 11% to P105.5B, while interest and other income rose 33% to P3.7B.

• NIAT attributable to equity holders decreased 18% to P17.5B; 3Q26 NIAT was P6.0B, down 1% QoQ.

• Income before tax was P27.4B, down 14%; expenses declined 9% to P81.8B and interest, financing and other charges were P13.6B, down 1%.

Segment performance

• Property-development revenue declined 24% to P57.6B; residential revenue fell 24% to P48.2B and estate-lot revenue fell 27% to P7.1B.

• Leasing and hospitality revenue rose 8% to P37.8B; shopping centers grew 4% to P18.2B, offices grew 4% to P9.4B, and hotels and resorts grew 20% to P8.9B.

• Services revenue increased 25% to P10.1B, including net construction revenue of P7.1B (+20%) and property management and other revenue of P3.0B (+40%).

• Property-development sales reservations were P77.7B, down 25% YoY and 5% QoQ; average monthly sales were P8.6B.

• Mall portfolio lease-out was 90%, with visitor footfall up 6% YoY and EBITDA margin of 61%; office lease-out was 88%, with 86% of 2026 expiries renewed.