Ayala sees 56% boost in net income for H1 2022

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Metro Manila (CNN Philippines, August 12) – Ayala Corporation raked in ₱16.3 billion during the first six months of 2022, up 56% with most of its businesses posting double-digit growths within the period.

In a disclosure to the local bourse, the conglomerate cited the strong performance of its banking, real estate, and telecommunications segments in the said stretch.

BPI logged a ₱20.4 billion net income in the first semester, a 73% increase driven by sturdy loan growth, better net interest margins, and fewer loan loss provisions amplified by a property 

Ayala Land, meanwhile, saw its earnings jumped 34% to ₱8.1 billion with the reopening of the economy helping boost its operations.

Globe's net income rose to 51% to ₱19.7 billion, with higher revenues from data and non-telco services along with earnings from the partial sale of its data center business. 

These figures offset the 19% plunge in Ayala’s renewable energy arm AC Energy & Infrastructure Corp. to ₱2.2 billion for the period.

This is a “combined effect of Ayala’s consolidation of its reduced ownership in ACEN, various one-offs incurred in the first quarter of the year, and impact of its divestment in GNPK (GNPower Kauswagan) in 2021,” said the conglomerate.

Ayala president and chief executive officer Fernando Zobel de Ayala said their first-half figures reflect the momentum of economic reopening.

“However, Ayala is cognizant of the current macroeconomic headwinds that have impacted our businesses in varying degrees. While this is the case, we believe there is still growth to be realized for the rest of the year with what we are seeing on the ground,” he added.

Shares of Ayala ended ₱733 each on Friday, a 1.81% jump from Thursday’s close.