Ayala Land Inc. · PSE:ALI
Ayala Land — Q4 2025 Earnings Presentation
16 slides from Ayala Land's earnings presentation, Feb 20, 2026
Slide 1: FY 2025 Performance Analyst Briefing
FY 2025 Performance Analyst Briefing 20 February 2026
Slide 2: FY 2025 Performance Highlights
FY 2025 Performance Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING P190.2B +5% P39.1B +39% P92.9B 0.78:1 (Core* Revenues P178.9B-1%) (Core* Net Income P30.6B +8%) Revenue Breakdown PROPERTY LEASING AND INTEREST AND DEVELOPMENT HOSPITALITY SERVICES OTHER INCOME P113.9B +1% P48.7B +7% P11.8B -
Slide 3: Consolidated Revenues of P190.2B and Net Income of P39.1B; Core NIAT of P30.6B (+8%)
Financial Statements | Income Statement Consolidated Revenues of P190.2B and Net Income of P39.1B; Core NIAT of P30.6B (+8%) INCOME STATEMENT FY 2025 FY 2024 Change % (in Php millions) Total Revenues 190,211 180,738 9,473 5% GAE RATIO Real Estate 174,452 176,533 -2,081 -1% 5% Interest and Other Inco
Slide 4: Broad-based growth across all leasing segments and consistent development revenues
Financial Statements | Revenue Breakdown Broad-based growth across all leasing segments and consistent development revenues anchored our topline performance REVENUE BREAKDOWN FY 2025 FY 2024 Change % (in Php millions) Property Development 113,910 112,917 993 1% Residential 91,373 94,859 -3,486 -4% S
Slide 5: Most Product and Operating Margins within Targets
Financial Statements | Segment Margins Most Product and Operating Margins within Targets; High-capacity growth segments expected to stabilize MARGIN PERFORMANCE FY 2025 FY 2024 Property Development (Gross Profit) Residential Horizontal 47% 43% Vertical 41% 37% Estate Lots 55% 65% Office for Sale 48%
Slide 6: Property Development Sales: Steady YoY at P142.3B
Operating Results | Property Development Property Development Sales: Steady YoY at P142.3B (0% vs PY) Strong demand for Estate lots RESERVATION SALES (in Php Billions) coupled with steady take-up of Core developments cushioned a decline in Premium sales 141.8 142.3 (In Php B) FY25 % YoY 123.6 By Seg
Slide 7: PH Residential Sales: Sustained at P125.2B (-1% vs PY)
Operating Results | Residential PH Residential Sales: Sustained at P125.2B (-1% vs PY) Healthy take-up of Core RESERVATION SALES (in Php Billions) products and Metro Manila projects despite industry 35.1 33.3 35.0 34.4 oversupply. 30.6 32.1 31.2 27.7 27.6 28.0 26.6 24.4 Core (In Php B) FY25 % YoY Pr
Slide 8: Shopping Centers
Operating Results | Shopping Centers Contribution of New Malls, Higher Occupancy and Rent lifted mall revenues despite reinvention works MALLS 2026 FOR COMPLETION 2.2M sqm GLA ~200K SQM GLA (+29K sqm from end-2024) 35 Malls, 63 Amenity Retail LEASE OUT RATE 91% (90% FY24) EXPANSION PIPELINE* 850K GL
Slide 9: Offices
Operating Results | Offices Higher revenues on Better-than-Industry occupancy and portfolio-wide lease escalation OFFICES 2026 FOR COMPLETION 1.5M sqm GLA ~70K SQM GLA (+48K sqm from end-2024) 69 BPOs, 7 HQs LEASE OUT RATE 87% (91% FY24) PORTFOLIO LEASE RATE Evo City Technohub Arca Corporate Center
Slide 10: Hospitality
Operating Results | Hospitality Higher average room rates and the acquisition of New World Makati drove a year-on-year growth in hospitality revenues HOSPITALITY HOTELS RESORTS 2026 FOR COMPLETION MANDARIN ORIENTAL | 276 rooms 4,658 rooms Seda: 3,235 Branded: 1,238 Island Resorts: 135 Resort B&Bs: 5
Slide 11: Industrial
Operating Results | Industrial Newly acquired dry warehouse and cold storage facilities boosted topline growth INDUSTRIAL DRY COLD 2026 FOR COMPLETION 9,000 PP COLD STORAGE 379.6K GLA 31.5K PP (+39.1K vs end 2024) (+11.2K vs end 2024) LEASE OUT RATE 85% (92% FY24) 80% (47% FY24) Artico Consolacion A
Slide 12: Capex spend of P92.9B
Capex spend of P92.9B CAPEX BREAKDOWN FY 2025 % Change (in Php billions) Actual Vs PY Residential 34.9 -7% Leasing and Hospitality 27.1 106% Land Acquisition and Others Residential Malls 15.8 151% 15% 38% Offices 2.4 -41% Hospitality 7.0 301% Industrial 1.9 94% Estate Development 16.9 -20% P92.9B La
Slide 13: Well-managed debt portfolio with 90% contracted long-term
Well-managed debt portfolio with 90% contracted long-term, 71% fixed; average borrowing cost of 5.5%, maturity of 4.8 years Total Borrowings: Php318.0B: Short-term Php32.2B (10%), Long-term Php285.8B (90%), Average Maturity 4.8 years 6.0% 5.3% 5.5% Long-term Debt Maturity (in Php Billions) 70 5.2% 5
Slide 14: A solid balance sheet with a net gearing ratio of 0.78:1
A solid balance sheet with a net gearing ratio of 0.78:1 and debt metrics within our guardrails Balance Sheet December December (in Php Millions) 2025 2024 Cash & Cash Equivalents 18,979 22,231 Total Borrowings 318,037 282,156 Stockholders’ Equity 385,054 358,496 Current Ratio 1.59 1.75 Debt-to-Equi
Slide 15: FY 2025 Performance Highlights
FY 2025 Performance Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING P190.2B +5% P39.1B +39% P92.9B 0.78:1 (Core* Revenues P178.9B -1%) (Core* Net Income P30.6B +8%) Revenue Breakdown PROPERTY LEASING AND INTEREST AND DEVELOPMENT HOSPITALITY SERVICES OTHER INCOME P113.9B +1% P48.7B +7% P11.8B
Slide 16: FY 2025 Performance Analyst Briefing
FY 2025 Performance Analyst Briefing 20 February 2026