Robinsons Land grew Q1 profit by 9% to P4.4B

Robinsons Land Corp. (RLC) grew its first-quarter net income by 9 percent to P4.4 billion, driven by stronger contributions from its leasing and residential development businesses.

The Gokongwei-led property developer told the exchange on Monday that its consolidated revenues had climbed 11 percent to P12.28 billion during the January-to-March period.

Net income attributable to equity holders of the parent company inched up 1.7 percent to P3.54 billion.

RLC said its performance reflected the continued strength of its diversified portfolio and recurring income strategy under its “vision 5:25:50” road map.

The road map targets a 50-percent expansion in both its mall gross leasable area and office portfolio, while aiming to grow hotel room inventory by 25 percent and double logistics capacity by 2030 to strengthen recurring income streams.

“Our performance is a validation of being intentional early on, transitioning our portfolio towards more recurring income and building deep cash reserves—establishing a robust financial cushion as a cornerstone of our risk management strategy. RLC remains steadfast in its ability to sustain earnings momentum, backed by a diversified, high-quality portfolio and an enduring commitment to financial discipline,” said RLC president and CEO Mybelle Aragon-GoBio.

The investment portfolio, which accounted for 75 percent of revenues and 85 percent of earnings before interest, taxes, depreciation and amortization (Ebitda), remained the group’s primary earnings driver.

Revenues from the segment rose 8 percent to P9.2 billion, while Ebitda increased 4 percent to P5.6 billion.

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Mall revenues grew 7 percent to P5.1 billion amid resilient consumer demand and stable tenant performance.

Office revenues climbed 8 percent to P2.2 billion, supported by stable occupancy and lease escalations.

Hotels posted the strongest growth within the investment portfolio, with revenues rising 14 percent to P1.7 billion.

Meanwhile, logistics revenues were steady at P269 million.