Rockwell Land H1 profit jumps 42% to P2.7B

MANILA, Philippines — Rockwell Land Corp. posted a 42 percent increase in its first-half net income to parent to P2.71 billion on stronger residential and commercial development revenues.

On Wednesday, the Lopez-led property developer said net income rose from P1.91 billion in the same period last year.

READ: Rockwell Land first quarter earnings up 67%

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Consolidated net income after tax likewise climbed to P3.03 billion from P2.07 billion. On one hand, consolidated revenues surged 41 percent to P13.57 billion from P9.63 billion as both of its major business segments expanded.

Residential development remained Rockwell’s biggest revenue contributor, accounting for 76 percent of the total.

Likewise, revenues from the segment climbed to P10.25 billion, driven mainly by the sale of real estate amid higher project accomplishment.

Furthermore, residential development earnings before interest, taxes, depreciation and amortization (Ebitda) rose 43 percent to P3.65 billion from P2.56 billion.

The company booked P9.5 billion in revenue from the sale of real estate during the six-month period, up 37 percent from P6.95 billion a year earlier.

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In addition, Rockwell attributed the increase to higher bookings and revenue recognition from the Edades West and Cabo projects.

Moreover, commercial development revenues, meanwhile, jumped 55 percent to P3.32 billion from P2.14 billion, mainly due to the consolidation of Alabang Commercial Corp. (ACC).

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Retail operations earned P2.38 billion in revenues, 73 percent higher than P1.38 billion a year earlier, on contributions from ACC and improved average rental and occupancy rates.

At the same time, office operations contributed P822 million, while hotel operations generated P121 million in revenues. Commercial development Ebitda rose 44 percent to P2.23 billion.

Overall Ebitda jumped to P5.88 billion from P4.11 billion, with its Ebitda margin steady at 43 percent.

“Residential development and commercial development contributed 62 percent and 38 percent to the total Ebitda, respectively,” the company said.

General and administrative expenses increased 33 percent to P1.55 billion due mainly to higher manpower-related costs and occupancy expenses from the consolidation of ACC.

Interest expense surged 75 percent to P1.53 billion from P876 million due to a higher loan balance. Rockwell’s share in the net income of joint ventures and associates, meanwhile, slipped 9 percent to P223 million from P245 million.

Rockwell’s total assets reached P142.7 billion as of end-June, up 10 percent from P129.2 billion at the end of 2025.

However, total liabilities also increased to P92.8 billion from P81.5 billion due to its P10-billion bond issuance in March. /pai