The developer said, Tuesday without reporting a comparable statistic for the year in which it demonstrated “resilience and stamina,” ROBINSONS LAND Corp. closed the year 2020 with a net income of P5,26 billion.
In a comment made by Robinsons Land Founder, Chief Executive Officer, Frederick D. Go, “We have implemented different methods of operating and advocated an innovativeness strategy to continue supporting our consumers in the face of 2020 challenges.
JG Summit Holdings, Inc. previously released their 2019 net sales of P8.69 billion in real estate investment.
The company’s consolidated sales at P25,40 billion were decreased by 17% in the Tuesday announcement at stock exchange, relative to the 2019 amount.
“We took advantage of emerging development prospects and accelerated the resilience of our digital transformation programs,” Go said.
Due to net sales of P863 million in the fourth quarter last year, it increased by 20 percent to “improving core metrics through its divisions.” In the three quarters last year. There was no earnings number for the fourth quarter of 2019.
For the full year 2020, Robinsons Land posted earnings of P13.68 billion before interest, duty, depreciation and depreciation (EBITDA).
Its portfolio has grown 30% to P12.26, slightly offsetting a 38% fall in its portfolio of shares to $13.15 billion.
Capital spending for land purchases, mall developments, offices, warehousing and hotels for the year has been utilized by up to P22,15 billion. Funds for constructing residential facilities are also reserved.
In the fourth quarter, improvement of the total leasable region was maintained by the market centres. There was also a better amount of residents and foot traffic.
The company’s business centers produced sales of P5.96 billion in 2020 and EBITDA amounted to P4.11 billion.
“[Robinson Land] is positive about the further resurgence of the mall market as quarantine controls are simple and vaccines start,” said the group.
In the meantime, the division of office buildings has raised turnover by 10 percent to P4.1 billion. The EBITDA of the division has improved by 11% to P5.08 billion, while its EBIT has risen by 12% to P4.11 billion.
Robinsons Land said that its leasable space will begin to expand. It also intends to extend its versatile workspace portfolio inside its viable brand, the Pasig, Taguig and Quezon divisions.
Residential income rose by 33% to 12.13 billion PM. The EBITDA rose 40% to 4,17 billion P4, while the EBIT of the Division amounted to 41%.
In early 2020, the company began three new ventures with a cost of P10 billion. In the Ortigas Core and the Sierra Valley Gardens in Buildings 1 and 2, in Cainta, Rizal, the Sapphire Block South was opened.
The residential division’s revenue contributed to P7.29 billion.
In its Chengdu Ban Bian Jie project in China the group sold all its residential condominiums and townhouses. Robinsons Land announced that after its handover this year it will consider sales from the first step of the plant. The plant is under development in the second phase.
For the industrial and integrated growth segment of the group, profits increased by 90% to the P262 million, powered largely by its two warehouse installations.
Revenues for the hotels and resorts division of Robinsons Land have meanwhile risen by 16% in Q4 and have taken the business to completion with sales of P1,08 billion.
“Based on quarantine restrictions and customers’ trust to start to rebound back in 2021, we expect our companies to slowly recover. We will continue to have relevant immobilization options and emphasize health and protection,” said Go.
The business aims to spend its mature office capital this year in an investment trust in real estate (REIT). It currently has 25 offices of over 600,000 m2 of net leasable space. It intends to obtain regulatory approval later this year to be listed as a REIT office.