'With strengthening macro, our businesses should get back to or exceed pre-pandemic levels in 2023,' says Ayala president and CEO Cezar Consing.
net income grew 46% to P34.6 billion mainly from higher data service revenues and gains from the partial sale of its data center business and a portion of its tower assets.
ACEN, Ayala’s energy company, saw its net income more than double year-on-year to P13.1 billion mainly due to a revaluation gain from its acquisition of Australian renewable energy company UPC Australia, as well as contributions from its new domestic and international plants. Ayala’s capital expenditures reached P280.3 billion in 2022, a 24% increase mainly due to investments made by Ayala Land, Globe, and ACEN.
For 2023, Ayala has allocated P264 billion in group capex, of which P19.4 billion will be used for investments. “Our full year results demonstrate the strength and diversification of our portfolio. If 2022 was marked by revenge spending on the part of consumers, 2023 may well see the resurgence of the economy as a whole. With strengthening macro, our businesses should get back to or exceed pre-pandemic levels in 2023,” Ayala president and chief executive officer Cezar Consing said.
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