Ayala Group’s wholly-owned AC Logistics reported that its core net loss narrowed to PHP303 million in the first quarter 2025 from PHP400 million same period last year on the back of cost savings and margin uplift from the closures of Entrego and the last mile arm of AIR21.
Similarly, attributable EBIT (earnings before interest and taxes) losses narrowed to PHP153 million from PHP229 million as rationalization initiatives reduced OPEX by PHP500 million.
GMAC Davao, an upcoming cold storage facility, reached 12 percent completion and is on track to open by January 2026. This will add 10,000 pallet positions to the Davao Facility into AC Logistics’ fulfillment network of nodes.
AC Industrials saw its core net loss narrow to PHP115 million from PHP331 million. IMI’s continued turnaround and reduced stake in Merlin Solar more than offset wider losses in ACMobility. Including one-offs, reported net loss narrowed to PHP294 million from PHP932 million.
IMI reported a net income of US$3.3 million, a turnaround from the US$3.7 million net loss last year. Despite lower revenues, EBITDA more than doubled to US$16.1 million from US$7 million on the back of improved margins and cost savings from the restructuring activities.
Meanwhile, ACMobility posted a net loss of PHP168 million from PHP35 million due to marketing and manpower expenses, mainly related to the ramp-up of BYD and its charging infrastructure network. Total unit sales more than doubled to 9,206, bringing total market share from 3.7 percent to 7.4 percent.
Its new energy vehicles market share expanded from 59 percent to 90 percent. ACMobility has 170 electrified charging points out of 226 installed. EV users can access the charging points in 72 locations nationwide, with 16 more locations to be electrified.
ACMobility is part of the Ayala Group of Companies and the country’s first end-to-end mobility provider. Aside from operating the largest dealer networks of Honda and Isuzu, ACMobility is also the official distributor of Kia, Volkswagen, and BYD passenger cars in the country.
Overall, Ayala Corporation’s core net income, which excludes one-off items, declined four percent to PHP11.3 billion as healthy contributions from BPI and Ayala Land cushioned lower earnings from Globe and AC Energy & Infrastructure Corporation.
