Robinsons Land Corp. opened 2026 with stronger earnings as steady income from malls, offices, hotels, and residential projects helped cushion the impact of broader economic uncertainty.

The property developer reported a 9-percent increase in first-quarter net income to P4.40 billion, while consolidated revenues climbed 11 percent to P12.28 billion. Net income attributable to equity holders of the parent reached P3.54 billion.

The company said its recurring-income businesses continued to anchor performance, with malls, offices, hotels, and logistics operations accounting for the bulk of revenues and earnings before interest, taxes, depreciation, and amortization.

“Our performance is a validation of being intentional early on, transitioning our portfolio towards more recurring income and building deep cash reserves—establishing a robust financial cushion as a cornerstone of our risk management strategy,” said Robinsons Land president and chief executive officer Mybelle V. Aragon GoBio.

“RLC remains steadfast in its ability to sustain earnings momentum, backed by a diversified, high-quality portfolio and an enduring commitment to financial discipline,” she added.

The company’s investment portfolio generated P9.2 billion in revenues during the quarter, up 8 percent from a year earlier, while EBITDA rose 4 percent to P5.6 billion.

Mall operations contributed P5.1 billion in revenues, supported by stable tenant performance and sustained consumer spending. Office revenues increased 8 percent to P2.2 billion on steady occupancy and lease escalations.

Hotel operations delivered the fastest growth among Robinsons Land’s investment assets, with revenues climbing 14 percent to P1.7 billion. The company attributed the increase to stronger performance from its international hotel brands and NUSTAR properties.

Meanwhile, the residential segment emerged as the company’s strongest growth driver, with revenues surging 39 percent to P2.7 billion as construction progress accelerated and more projects qualified for revenue recognition.

The company generated P3.74 billion in residential net sales during the quarter, including contributions from joint venture projects.

Robinsons Land also maintained a conservative balance sheet, ending the quarter with P21.72 billion in cash reserves and a net gearing ratio of 9.64 percent.

Interest-bearing debt stood at P39.55 billion, while free cash flow reached P4.47 billion. The company also raised additional capital through an oversubscribed P7-billion Robinsons Retail Holdings share placement completed in January.

Capital expenditures during the quarter reached P3.25 billion, slightly higher than the same period last year, as the company continued expansion projects across its business segments.

Robinsons Land said it remains on track with its long-term “Vision 5:25:50” strategy, which focuses on expanding recurring-income assets while maintaining disciplined financial management.