Ayala Corp.

In the news

Manila's $2bn airport expansion pitch stalled by aviation shakeup Jul 8, 2020
Philippines' Ayala fights to take over Australia's Infigen Energy Jun 29, 2020
Duterte apologizes to Philippine tycoons he threatened to jail May 5, 2020
Yangon Stock Exchange to open to overseas investors March 20 Mar 7, 2020
Ayala readies Philippines' first REIT to raise $300m Feb 11, 2020

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	PHP	USD
Revenue	264,906.53M	5,115.96M
Gross Profit	72,040.54M	1,391.27M
Operating income	44,690.45M	863.07M
Income before tax	64,055.60M	1,237.06M
Net income	35,279.33M	681.32M
EBITDA	63,331.76M	1,223.08M
Diluted EPS	53.92	1.04
Dividends Per Share	8.30	0.16
Total Assets	1,347.00B	26,597.00M
Total liabilities	835,972.40M	16,506.51M
Total equity	330,526.39M	6,526.33M
Operating cash flow	35,122.25M	678.29M
	Currency in PHP	Currency in USD

Historical Data

PHP | USD

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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
PER	14.51
ROA	2.77%
ROE	11.33%
Operating margin	16.87%
Profit margin	13.31%

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