Ayala’s First Half Net Income Expands Twofold to P37.8B, Anchored by strong growth of AC Energy




Ayala Corporation posted P37.8 billion as its first half net profit, more than double that of H1 2018’s P16.1 billion. The growth was driven by its banking, telecommunication and real estate units, all of which reported better performance for the first half of 2019, combined with gains from AC Education’s merger with iPeople, and partial divestment of AC Energy’s thermal assets.

“Our first-half results reflect the strength of our core holdings in real estate, banking, and telecommunications. This was complemented by the value realization initiatives in our energy business,” Ayala president and COO Fernando Zobel de Ayala said. “We are pleased with the rapid growth of AC Energy, its growing contribution to our overall profitability, and the regular value realization exercises to deliver investment returns to Ayala,” he noted.

AC Energy’s net profit reached P23.2 billion in the first half, up from only P2.1 billion a year ago, contributing to the Ayala group’s higher earnings. 

“Our first-half results reflect the strength of our core holdings in real estate, banking, and telecommunications. This was complemented by the value realization initiatives in our energy business,” Ayala president and COO Fernando Zobel de Ayala said.

“We are pleased with the rapid growth of AC Energy, its growing contribution to our overall profitability, and the regular value realization exercises to deliver investment returns to Ayala,”

AC Energy’s net profit reached P23.2 billion in the first half, up from only P2.1 billion a year ago, contributing to the Ayala group’s higher earnings.