Robinsons Land nets 4% core income growth in first quarter

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Robinsons Land has a lofty goal of earning P25 billion in revenues by its 50th anniversary in 2030

MANILA, Philippines – The Gokongwei family’s Robinsons Land Corporation (RLC) scored a 4% growth in core net income which stood at P3.48 billion in the first three months of 2025 on the back of a strong investment portfolio.

“We began the year with strength and momentum, anchored by our solid and growing recurring income backbone. This resilience allows RLC to thrive amid and ever-evolving economic landscape,” RLC president and CEO Mybelle Aragon-GoBio said in a statement on Monday, May 5.

“We are seeing the rewards of our diversified investment strategy, operational excellence, and unwavering commitment to increasing shareholder return.”

Revenues from its investment portfolio — which includes malls, offices, hotels, and logistics — grew 8% to P8.52 billion in the first quarter, while development revenues stood at P2.51 billion, majority from residential sales and joint ventures. The company ended the quarter with P11.03 billion in revenues.

Revenue breakdown

Mall occupancy in Robinsons Malls stood at 93% in the first quarter, allowing the company to book an 8% growth in rental revenue to P3.43 billion. RLC opened its 56th mall, Robinsons Pagadian, in April with a 98% occupancy rate and added 23,800 square meters of new gross leasable area (GLA) to its portfolio.

Meanwhile, its office segment inched up by 6%, ending the quarter with P2.02 billion. The increase in revenues was due to the increase in rental prices across its 32 office buildings, with 793,000 square meters of GLA.

Its hotel business comprised of 26 hotels from its own brands and international names contributed P1.51 billion this quarter, boasting a 12% increase compared with the same period last year.

The logistics sector also proved to be a worthwhile investment — with revenues jumping 40% to P268 million. Robinsons Logistics and Industrial Facilities (RLX) opened new warehouses in Calamba and San Fernando this year, bringing its total industrial facilities to 13 across “key locations” in Metro Manila, Pampanga, and Laguna with GLA spanning 249,000 square meters.

The profitability of its investment portfolio remains steady — Robinsons Malls ended the quarter with its earnings before interest, taxes, depreciation, and amortization (EBITDA) up 10% to P3 billion, offices’ EBITDA stood at P1.61 billion, hotels business’ went up 21% to P487 million, and RLX saw its EBITDA jump 43% to P249 million.

As for its development businesses — RLC Residences booked P846 million in sales and P47 million from joint ventures. Realized revenues or money collected during the quarter totaled P1.95 billion, sans the P336 million equity share in joint venture projects.

Meanwhile, Robinsons Destination Estates’ property development revenues totaled P223 million.

Future plans

The company has a lofty goal of earning P25 billion by its 50th anniversary in 2030.

According to its disclosure to the exchange on Monday, RLC aims to achieve this by further a diversifying its investment portfolio — increasing its mall and office footprint by 50% of their current GLA, hotel room keys by 25% from its current 4,000, and doubling the capacity of its logistics business.

The company is also eyeing to make offerings more premium and pursue “high-impact strategic partnerships.” (READ: LIST: What to expect at OPUS Mall in Quezon City)

RLC also wants to strengthen its real estate investment trust, RL Commercial REIT Incorporated (RCR), which currently has 13 properties boasting of a 96% occupancy rate. The REIT earned P2.25 billion in revenues in the first quarter, up by 58% year on year.

Meanwhile, RLC is also looking at launching new business ventures — such as sports and entertainment centers, among others. – Rappler.com