AC Logistics, Ayala Corporation’s logistics arm, reported that its net loss widened to ₱2.2 billion in 2024 from ₱1.8 billion due to one-time cleanup expenses for Air21 Holdings, Inc.
This is part of the Ayala Corporation’s (AC) disclosure with the Philippine Stock Exchange where it stated that its core businesses boost earnings earnings to an all-time high for fiscal year 2024.
Overall, AC reported that its core net income, which excludes one-off items, increased 10 percent to an all-time high of ₱45.0 billion. BPI, Ayala Land, Globe, and AC Energy & Infrastructure (ACEIC) delivered strong performances, underpinning the Company’s results. Accounting for one-offs, Ayala’s net income rose 10 percent to ₱42.0 billion.
In its disclosure, the country’s oldest conglomerate said that AC Logistics’ attributable EBITDA losses improved 34 percent to ₱633 million from ₱995 million as streamlining initiatives enhanced operational efficiency.
Its cold storage facility, GMAC CDO, reached 74 percent average utilization in 2024 since its opening in June 2023. On March 5, 2025, AyalaCorporation, AC Logistics, and A.P. Moller Capital (“APMC”), through EMIF II Holding III B.V. (“EMIF”), signed a share subscription agreement for EMIF to subscribe to common and redeemable preferred shares of AC Logistics equivalent to a ~40 percent economic stake.
The completion of the transaction is subject to finalization of subscription price and satisfaction of conditions precedent including but not limited to regulatory approvals and the achievement of certain business milestones.
Meantime, ACMobility’s net loss amounted to ₱465 million from ₱119 million. However, unit sales grew 46 percent to 23,483 from 16,111 driven by eight successful model launches across BYD and Kia. Total market share improved by 120 basis points to 4.9 percent. AC Mobility continues to hold the largest market share in New Electric Vehicles at 85 percent.
On the charging infrastructure side, AC Mobility ended 2024 with 215 charging points in 86 locations nationwide.
