ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Finance

Ayala Corp.

Company Background

Founded in 1834, Ayala Corp. is the Philippines' oldest conglomerate, controlled by the Zobel Filipino-Spanish family. Currently, the company is led by brothers Jaime Augusto Zobel, who serves as the company's chairman and CEO, and Fernando Zobel, who sits as the president and chief operating officer.

 

Its core businesses are real estate development (Ayala Land), financial services (Bank of the Philippine Islands), telecommunications (Globe Telecom, a joint venture with Singapore Telecommunications), and water distribution (Manila Water). The company, however, also has interests in electronics manufacturing and business process outsourcing.

 

Ayala, backed by Japanese conglomerate Mitsubishi Corp., is slowly expanding into the infrastructure and power sectors. Through AC Energy Holdings, Ayala aims to build power generating capacity of 1,000 megawatts by 2016, while it intends to build expressways and railways via AC Infrastructure Holdings. Together with Metro Pacific Investments, the company recently won a $1.5 billion contract to expand and run a major overhead railway in Manila. The company has also announced a foray into education.

Business Summary

Ayala Corp. is a holding company, which is engaged in providing real estate, telecommunications, utilities, logistics, financial and insurance services. It operates through following business segments: Parent Company, Real Estate and Hotels, Financial Services and Insurance, Telecommunications, Water Infrastructure, Electronics Manufacturing, Power generation, and Automotive, IT/BPO and Others. The Parent Company segment represents operations of the Parent Company including its financing entities such as ACIFL, AYCFL, PFIL and MHI. The Real Estate and Hotels segment is engaged in planning and development of large-scale fully integrated mixed-used communities that become thriving economic centers in their respective regions. The Financial Services and Insurance segment offers banking services including savings and time deposits, loans, foreign exchange and securities dealing, and safety deposit facilities. The Telecommunications segment provides digital wireless and wireline voice communication services, broadband services, long distance communication, and mobile commerce services. The Water Infrastructure segment manages, operates repairs, decommissions, and refurbishes all fixed and movable assets required to provide water delivery and sewerage services. The Electronics Manufacturing segment offers electronics manufacturing services for original equipment manufacturers in the computing, communications, consumer, automotive, industrial and medical electronics markets. The Power Generation segment is engaged in building portfolio of power generation assets using renewable and conventional technologies which in turn will operate business of generating, transmission of electricity, distribution of electricity and supply of electricity, including the provision of related services. The Automotive, IT/BPO and Others segment is engaged in manufacturing, distribution and sale and providing repairs and services for passenger cars and commercial vehicles. The company was founded on January 23, 1968 and is headquartered in Makati, Philippines.

Financial Highlights

Dec 2019 PHPUSD
Revenue264,906.53M5,115.96M
Gross Profit72,040.54M1,391.27M
Operating income44,690.45M863.07M
Income before tax64,055.60M1,237.06M
Net income35,279.33M681.32M
EBITDA63,331.76M1,223.08M
Diluted EPS53.921.04
Dividends Per Share8.300.16
Total Assets1,347.00B26,597.00M
Total liabilities835,972.40M16,506.51M
Total equity330,526.39M6,526.33M
Operating cash flow35,122.25M678.29M
Currency in PHPCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 174,034.99M 199,208.89M 242,227.64M 256,891.28M 264,906.53M
Gross Profit 49,554.74M 56,009.24M 64,635.13M 65,238.01M 72,040.54M
Operating income 27,836.10M 38,409.98M 43,343.67M 42,356.12M 44,690.45M
Income before tax 47,306.49M 35,785.69M 62,126.53M 42,490.51M 64,055.60M
Net income 22,278.95M 26,011.26M 30,263.84M 31,817.72M 35,279.33M
EBITDA 37,279.19M 49,970.45M 55,641.53M 55,917.71M 63,331.76M
Diluted EPS 33.38 39.30 45.99 48.35 53.92
Dividends Per Share 5.76 5.76 6.92 6.92 8.30
Total Assets 795,981.39M 913,273.80M 1,023.54B 1,199.45B 1,347.00B
Total liabilities 467,973.21M 542,631.87M 611,257.51M 728,817.26M 835,972.40M
Total equity 208,121.55M 230,568.58M 257,541.10M 292,133.18M 330,526.39M
Operating cash flow 26,895.34M 43,777.69M 30,059.54M 51,424.34M 35,122.25M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 3,822.17M 4,194.97M 4,804.70M 4,876.18M 5,115.96M
Gross Profit 1,088.32M 1,179.45M 1,282.07M 1,238.31M 1,391.27M
Operating income 611.33M 808.84M 859.74M 803.98M 863.07M
Income before tax 1,038.95M 753.58M 1,232.31M 806.53M 1,237.06M
Net income 489.29M 547.74M 600.29M 603.94M 681.32M
EBITDA 818.72M 1,052.28M 1,103.67M 1,061.40M 1,223.08M
Diluted EPS 0.73 0.82 0.91 0.91 1.04
Dividends Per Share 0.12 0.12 0.13 0.13 0.16
Total Assets 16,915.97M 18,371.10M 20,503.67M 22,809.76M 26,597.00M
Total liabilities 9,945.23M 10,915.40M 12,244.74M 13,859.79M 16,506.51M
Total equity 4,422.94M 4,638.04M 5,159.07M 5,555.44M 6,526.33M
Operating cash flow 590.67M 921.87M 596.24M 976.11M 678.29M

Valuation Measures

Dec 2019
PER14.51
ROA2.77%
ROE11.33%
Operating margin16.87%
Profit margin13.31%

Key executives

  • Chairman & Chief Executive Officer: Jaime Augusto Zobel de Ayala
  • Vice Chairman, President & Chief Operating Officer: Fernando Miranda Zobel de Ayala
  • CFO, MD, Chief Risk Officer, & Group Head-Finance: Jose Teodoro K. Limcaoco
  • Chief Information Officer: Maria Angelica B. Rapadas
  • Secretary, Chief Legal Officer & General Counsel: Solomon M. Hermosura

Shareholders

  • Mermac, Inc. (47.2%)
  • Mitsubishi Corp. (6.0%)
  • The Vanguard Group, Inc. (1.6%)
  • The Caisse de depot et placement du Quebec (1.5%)
  • SM Investments Corp. (1.4%)
  • Orbis Investment Management Ltd. (0.8%)
  • BlackRock Fund Advisors (0.7%)
  • FIL Investment Management (Singapore) Ltd. (0.7%)
  • BlackRock Investment Management (UK) Ltd. (0.4%)
  • APG Asset Management NV (0.3%)

Contact Details

  • Website:http://www.ayala.com.ph
  • Address: Tower One and Exchange Plaza, Ayala Avenue, Makati City, 1226, Philippines
  • Phone: +63.2.908.3000

Related Companies

  • AC Energy, Inc. (Philippines)
  • Ayala Capital
  • GNPower Kauswagan
  • PFIL North America, Inc.
  • Michigan Holdings, Inc. /PH/
  • Ayala Healthcare Holdings, Inc.
  • Ayala Education, Inc.
  • Ayala Group Legal
  • AC Infrastructure Holdings Corp.
  • AC Energy Holdings, Inc.
  • Universal Reinsurance Corp.
  • AG Counselors Corp.
  • Pure Foods International Ltd.
  • EDINet Philippines, Inc.
  • Ayala Aviation Corp.
  • iOne Resources, Inc.
  • AYC Finance Ltd.
  • Darong Agricultural Development Corp.
  • Technopark Land, Inc.
  • Ayala Multi Purpose Cooperative
  • BPI Card Finance Corp.
  • Bestfull Holdings Ltd.
  • Water Capital Works, Inc.
  • Makati Development Corp.
  • Honda Cars Makati, Inc.
  • AC Industrial Technology Holdings, Inc.
  • Philwater Holdings Co., Inc.
  • Azalea Technology Investments, Inc.
  • Far East Trust Co.
  • Ayala Corp. ESOWN

Competitors

  • Plexus Corp.
  • Flex Ltd.
  • DMCI Holdings Inc.
  • Kimball Electronics, Inc.
  • Megaworld Corp.
  • SM Prime Holdings, Inc.
  • Robinsons Land Corp.
  • Filinvest Land Incorporated
  • Vista Land & Lifescapes, Inc.
  • American International Group, Inc.
  • EEI Corporation
  • First Gen Corporation
  • Metro Pacific Investments Corporation
  • SM Investments Corporation
  • Robinsons Retail Holdings, Inc.
Last Updated on 10 Jul, 2020

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media