Ayala Corp.’s (AC) net income surged 46 percent to P61.4 billion in 2025, lifted mainly by revaluation gains from fintech arm Mynt and Ayala Land Inc.’s (ALI) sale of its stake in Alabang Commercial Center.

Excluding one-off items, the conglomerate’s core net income rose 7 percent to a record P48.3 billion, driven by stronger earnings from Bank of the Philippine Islands and Ayala Land, as well as a turnaround in several emerging businesses.

These gains helped offset weaker contributions from Globe Telecom and AC Energy and Infrastructure Corp..

“Our strong performance in 2025 reflects the resilience of our core businesses and the steady progress of our emerging businesses. Even as the operating environment remains uncertain, we are entering 2026 with greater clarity and focus," AC CEO Cezar P. Consing said on Friday.

"Across the group, we will continue sharpening our portfolio, demanding stronger returns, and reinforcing balance sheet resilience to ensure we deliver sustainable value for our shareholders,” he added.

BPI remained the group’s biggest earnings contributor, posting a net income of P66.6 billion, up 7 percent, as higher revenues offset increased operating expenses and provisions. Total revenues rose 15 percent to P195.3 billion, driven by record net interest income and a 15 percent expansion in loans to P2.6 trillion.

Ayala Land’s core net income climbed 8 percent to P30.6 billion, supported by higher contributions from its leasing and hospitality businesses and steady property development revenues. Including a one-time gain from the sale of its 50 percent stake in Alabang Commercial Corp., reported net income rose 39 percent to P39.1 billion.

Globe’s core net income fell 3 percent to P20.9 billion due to higher depreciation and interest expenses, which offset record service revenues and lower operating costs. Gross service revenues reached an all-time high of P165.1 billion, driven by strong mobile data usage and steady growth in broadband services.

ACEN reported a 4 percent increase in core net income to P6.3 billion, supported by higher renewable energy output.

However, reported net income fell 60 percent to P3.8 billion due to a one-off impairment related to wind projects in Vietnam, lower spot prices, and weaker solar irradiance.

Parent firm ACEIC posted a net income of P6.6 billion, down 47 percent, partly due to softer earnings from thermal investments.

Among emerging businesses, AC Health posted a net income of P34 million, reversing a P607 million loss a year earlier as its hospitals and clinics recorded strong revenue growth.

Integrated Micro-Electronics Inc. also returned to profitability, reporting a net income of $13.5 million after a $49.8 million loss previously incurred due to cost restructuring and operational improvements.

Ayala said its balance sheet remained resilient despite market volatility. Parent net debt fell 18 percent to P136.3 billion, bringing the parent net debt-to-equity ratio down to 0.76x from 1.06x a year earlier.