Ayala Corp. net income down 4% to P12.6B in Q1 2025

Ayala Corp., the country's oldest conglomerate, saw its bottom line decline in the first quarter of 2025, dragged by lower earnings from its telecommunications and energy businesses.

In a disclosure to the Philippine Stock Exchange on Tuesday, Ayala Corp. reported a net income of P12.6 billion in this year's January to March period, down 4% from P13.07 billion in the same period last year.

This was on the back of the 22% decrease in Globe's core net income to P4.5 billion due to softer revenues, higher financing costs, and higher expenses.

Also contributing to the conglomerate's lower earnings was the 28% decline in net income of its energy arm, ACEN, to P2 billion due to lower generation, weaker spot market prices, and expenses from newly operationalized plants.

Nonetheless, Ayala Corp.'s banking and property businesses offset the decline with Bank of the Philippine Islands (BPI) earning P16.6 billion, up 9%; while Ayala Land posting a 10% bottom line growth to P6.9 billion.

"We are seeing strong starts from our banking, real estate, and fintech businesses. Our telco and energy businesses have some catching up to do. Our smaller, newer companies are turning the corner. We are constructive on the year," said Ayala Corp. president and CEO Cezar Consing.

As for its portfolio or newer companies, AC Health narrowed its net loss to P59 million from P191 million due to better facilities utilization; while AC Logistics also trimmed its net loss to P303 million from P400 million on the back of cost savings.

Moreover, AC Industrials saw its core net loss reduced to P115 million from P331 million as IMI saw a turnaround to profitability.

ACMobility, likewise, widened its losses to P168 million from P35 million due to marketing and manpower expenses. — VDV, GMA Integrated News