Ayala Corporation (AC) Q2 2026 earnings summary

Executive summary

• Delivered resilient first-half results amid a challenging operating environment, with core net income for 1H26 at P22.1 billion, down 7% year-over-year, mainly due to property softness and non-operating factors.

• Reported net income declined 2% to P22.9 billion, reflecting the net impact of one-off items.

• Advanced long-term value creation by scaling emerging businesses and progressing key initiatives, including the planned Mynt IPO.

• Earnings growth at Globe and ACEIC, stable BPI performance, and improved results from emerging businesses helped offset declines elsewhere.

• Maintained disciplined capital deployment and strong balance sheet, supporting growth investments and shareholder returns.

Financial highlights

• Revenue for 1H26 reached P192.1 billion, up from P183.5 billion in 1H25.

• Consolidated net income after tax (NIAT) declined 7% year-over-year to P28.5B; core equity earnings down 7% to P22.1B.

• Net income attributable to owners was P22.87 billion, slightly down from P23.36 billion year-over-year.

• Consolidated cash rose to P75.6 billion; parent cash up 44% to P19.9 billion.

• IMI net income surged 50% to US$14M on 4% revenue growth and margin expansion.

Outlook and guidance

• Continued focus on disciplined capital deployment and scaling emerging businesses.

• Management remains confident in portfolio resilience and value creation potential despite macroeconomic and geopolitical challenges.

• Planned Mynt IPO expected to unlock value and raise P80.3B–P92.3B, representing 12–13.8% of outstanding shares.

• Full-year capital expenditures for Globe expected to remain below US$1 billion.