Ayala Corp reports 10% core net income growth to ₱45B

Ayala Corporation reported a 10% increase in core net income to ₱45.0 billion for 2024, marking another record high.

Excluding one-off items, Ayala's performance was driven by strong contributions from its core businesses such as Bank of the Philippine Islands (BPI), Ayala Land Inc., Globe Telecom, and AC Energy & Infrastructure (ACEIC).

Ayala Corp. president and CEO Cezar Consing highlighted that 2024 was the strongest year ever for Ayala, with plans to build a more concentrated, collaborative, and connected corporation in 2025.

BPI recorded a 20% rise in net income to ₱62.0 billion, while Ayala Land's net income grew by 15% to ₱28.2 billion.

Globe Telecom saw its core net income improve by 14%, reaching ₱21.5 billion, with EBITDA hitting an all-time high due to improved revenue and reduced spending.

ACEN reported a 27% increase in net income to ₱9.4 billion, driven by higher renewables output and value realization gains.