Rockwell Land Corporation reported net income after tax of P1.4B for 2013, a 25% increase from 2012’s P1.1B, and a three-year compounded annual growth rate of 24%.
Rockwell also reported a significant increase of 37% in reservation sales at P12.6B. The Proscenium is currently 67% sold for its three residential towers.
Rockwell’s recurring income business reported a strong performance, yielding revenue of P1.02B, a 5% increase from 2012. In March 2013, the company began construction of the third tower of the Rockwell Business Center, which is set to be completed in the third quarter of 2014.
Rockwell’s positive performance continues in the first quarter of 2014, posting a net income of P254.3 million, an 18% increase from last year’s P216.2M. It reported an EBITDA of P571.9M, 28% higher from last year’s P444M, mainly driven by a 52% growth in contribution of residential development.
“We start off 2014 with the delivery of the Rockwell lifestyle to our clients as we turn over the Edades Tower and Garden Villas in Rockwell Center, Makati; our first lowrise community, 205 Santolan by Rockwell, in Quezon City; and The Alvendia by Rockwell in San Juan,” said Nestor J. Padilla, president and CEO of Rockwell Land. “We look forward to welcoming our new and returning clients and investors to the Rockwell community with these projects.” (Nicole Reyes)