Robinsons Land nets P10.2 billion in 9 months

MANILA, Philippines — Gokongwei-led real estate developer Robinsons Land Corp. (RLC) delivered higher earnings from January to September, buoyed by strong results from both investment and development portfolios.

RLC’s net income attributable to the parent stood at P10.17 billion during the nine-month period, up by two percent year-on-year.

Excluding its one-time gain due to the reclassification of its GoTyme investment last year, attributable income rose by 10 percent year-on-year.

RLC sustained topline momentum from January to September, with revenues accelerating by 13 percent to P35.61 billion.

The company’s investment portfolio expanded by nine percent, while the development portfolio delivered a 28-percent growth.

In the third quarter alone, attributable net income grew by 19 percent to P3.3 billion, while revenues climbed by 25 percent to P12.58 billion.

“Our performance this quarter underscores the strength and resilience of our core businesses. Despite a more competitive environment and strategic reinvestments, we sustained healthy profitability and expanded our revenue base,” RLC president and CEO Mybelle Aragon-GoBio said.

Strong rental performance enabled Robinsons Malls to deliver an 11 percent year-on-year increase in revenues to P14.55 billion from January to September.

RLC said that Robinsons Malls now spans 1.7 million square meters of leasable space, highlighting the continued confidence of tenants and the resilience of consumer activity.

Robinsons Offices likewise sustained its stable performance during the period due to consistent rental escalations, generating P6.24 billion in revenues, up by five percent year-on-year.

Revenues of Robinsons Hotels and Resorts (RHR), meanwhile, grew by 10 percent to P4.74 billion, led by strong performance across all brands.

System wide occupancy stood at 66 percent, reflecting sustained travel demand and improved guest volumes.

RHR’s portfolio now includes 27 hotels with over 4,000 room keys.

Robinsons Residences recorded P4.06 billion in net sales from organic projects and an additional P2.29 billion from joint ventures, while Robinsons Logistics and Industrial Facilities reported revenues of P661 million during the nine-month period.