Ayala Land Inc. · PSE:ALI
Ayala Land — Q1 2026 Earnings Presentation
15 slides from Ayala Land's earnings presentation, Apr 30, 2026
Slide 1: 1Q 2026 Performance Analyst Briefing
1Q 2026 Performance Analyst Briefing 30 April 2026
Slide 2: 1Q 2026 Performance Highlights
1Q 2026 Performance Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING P37.5B -14% P5.4B -23% P23.0B 0.81:1 Revenue Breakdown PROPERTY LEASING AND INTEREST AND DEVELOPMENT HOSPITALITY SERVICES OTHER INCOME P20.3B -27% P12.6B +9% (+12%*) P3.3B +4% P1.2B +34% RESIDENTIAL SHOPPING CENTER NET CONSTR
Slide 3: Stable Leasing Revenues partially cushions weaker Property Development bookings
Financial Results | Revenue Breakdown Stable Leasing Revenues partially cushions weaker Property Development bookings REVENUE BREAKDOWN 1Q 2026 1Q 2025 Change % (in Php millions) Property Development 20,346 27,839 -7,493 -27% Residential 17,418 22,012 -4,594 -21% Lower bookings across residential, c
Slide 4: Revenues of P37.5B and Net Income of P5.4B
Financial Results | Income Statement Revenues of P37.5B and Net Income of P5.4B INCOME STATEMENT 1Q 2026 1Q 2025 Change % (in Php millions) Total Revenues 37,484 43,556 -6,072 -14% Real Estate 36,245 42,631 -6,386 -15% GAE RATIO Interest and Other Income 1,239 924 315 34% 7% Expenses 29,248 33,120 -
Slide 5: Sales of P28.2B despite no launches for the period
Operating Results | Property Development Sales Sales of P28.2B despite no launches for the period QoQ improvement in Core sales RESERVATION SALES (in Php Billions) but Premium and Estate lots affected by dampened sentiment 141.8 142.3 (In Php B) 1Q26 % YoY % QoQ 123.6 Total 28.2 -22% -8% Premium 16.
Slide 6: Residential Sales: Lower take-up P24.4B vs PY but steady QoQ
Operating Results | Residential Sales Lower take-up P24.4B vs PY but steady QoQ RESERVATION SALES (in Php Billions) Sequential rebound for Core, Horizontal and Regional sales 35.0 34.4 35.1 33.3 32.1 31.2 but still lower vs prior year 26.6 24.4 24.4 (In Php Bn) 1Q26 % YoY % QoQ By Segment 24.4 -22%
Slide 7: Shopping Centers: Improving lease-out rate; new capacity and reinventions on-track
Operating Results | Shopping Centers Improving lease-out rate; new capacity and reinventions on- track 2026 FOR COMPLETION MALLS ~190K SQM GLA 2.1M sqm GLA 34 Malls, 63 Amenity Retail LEASE OUT RATE 90% (89% 1Q25) EXPANSION PIPELINE* 833K GLA Arca South Phase 2 Nuvali Expansion Ayala Malls Arca Sout
Slide 8: Offices: Above-industry occupancy; pipeline in key low-vacancy areas
Operating Results | Offices Above-industry occupancy; pipeline in key low-vacancy and high-demand areas OFFICES 2026 FOR COMPLETION KEY PIPELINE ASSETS 1.5M sqm GLA ~70K SQM GLA 68 BPOs, 7 HQs LEASE OUT RATE 88% (90% 1Q25) EXPANSION PIPELINE* 330K GLA Arca South Corp Center Evo City Technohub McKinl
Slide 9: Hospitality: Better occupancy across all formats
Operating Results | Hospitality Better occupancy across all formats; renovated assets driving higher room rates 2026 FOR COMPLETION HOSPITALITY HOTELS RESORTS MANDARIN ORIENTAL 4,680 rooms Seda: 3,257 Branded: 1,238 Island Resorts: 135 Resort B&Bs: 50 OCCUPANCY 72% (+2 pt) 71% (+15 pt) 70% 1Q25 56%
Slide 10: Industrial: Improved overall leased-out rate at new facilities
Operating Results | Industrial Improved overall leased-out rate on signed leases at new facilities INDUSTRIAL DRY COLD 2026 FOR COMPLETION 9,000 PP COLD STORAGE 379.6K GLA 31.5K PP LEASE OUT RATE 87% (92% 1Q25) 85% (46% 1Q25) Artico Consolacion Ayala Land, Inc. 10
Slide 11: Higher investments in Leasing up 53% vs PY
Balance Sheet | Capital Expenditures Higher investments in Leasing up 53% vs PY CAPEX BREAKDOWN 1Q 2026 % Change (in Php billions) Actual Vs PY Residential 7.1 -25% Residential Leasing and Hospitality 6.1 53% 31% Malls 3.9 72% Land Acquisition and Others Offices 1.1 222% 21% Hospitality 1.0 57% Indu
Slide 12: Well-managed debt portfolio with 83% contracted long-term
Balance Sheet | Debt Portfolio Well-managed debt portfolio with 83% contracted long-term, average borrowing cost of 5.5%, maturity of 4.1 years Total Borrowings: Php336.8B: Long-term (83%); Short-term (17%) | Fixed (63%); Floating (37%) Majority Contracted Stable Cost of Debt Stretched Long-term Deb
Slide 13: A solid balance sheet with a net gearing ratio of 0.81:1
Balance Sheet | Highlights and Ratios A solid balance sheet with a net gearing ratio of 0.81:1 and debt metrics within our guardrails Balance Sheet March December (in Php Millions) 2026 2025 Cash & Cash Equivalents 21,461 18,979 Total Borrowings 336,810 318,037 Total Assets 1,014,853 997,364 Stockho
Slide 14: 1Q 2026 Performance Highlights
1Q 2026 Performance Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING P37.5B -14% P5.4B -23% P23.0B 0.81:1 Revenue Breakdown PROPERTY LEASING AND INTEREST AND DEVELOPMENT HOSPITALITY SERVICES OTHER INCOME P20.3B -27% P12.6B +9% (+12%*) P3.3B +4% P1.2B +34% RESIDENTIAL SHOPPING CENTER NET CONSTR
Slide 15: 1Q 2026 Performance Analyst Briefing
1Q 2026 Performance Analyst Briefing 30 April 2026