Ayala Corporation (AC) Q4 2025 earnings summary

Executive summary

• Achieved a 7% increase in core NIAT to P48.3B, with reported NIAT reaching a record P61.4B, driven by strong performance in banking, property, and turnaround of non-core businesses, offsetting softness in telecom and energy units.

• Continued portfolio reshaping by divesting non-strategic or value-destructive businesses and forming alliances with global partners in healthcare, logistics, and consumer sectors.

Financial highlights

• Consolidated core NIAT up 7% year-over-year to P48.3B; reported NIAT up 46% to P61.4B.

• BPI net income rose 7% to P47.3B; AyalaLand core net income up 8% to P30.6B; ACEN core net income up 4% to P6.3B.

• Globe core net income declined 3% to P20.9B; ACEIC core earnings fell 24% to P8.1B.

• AC Health swung to net income of P34M from a loss of P607M, with EBITDA up 155% to P1.5B.

• ACMobility narrowed core net loss to P386M as unit sales jumped 82%.

• IMI posted a net income of $13.5M, reversing a $49.8M loss, with EBITDA up 508%.

• AC Logistics reduced net loss by 15% to P1.9B through cost reduction and asset streamlining.

Outlook and guidance

• Globe targets low-to-mid single digit GSR growth, EBITDA margin in the low 50s, and CAPEX below $1B.

• AyalaLand aims for leasing growth, stable property development, and growth faster than GDP.

• ACEN expects tailwinds from completed wind farm repairs, new international capacity, and positive regulatory developments.

• Group CAPEX estimated at P220B–P230B for 2026, up from P181B in 2025.