Rockwell Land LogoFor the first three months ended March 31, 2017 and 2016, Rockwell Land Corporation registered net income attributable to equity holders of the parent of P515.9 million in 2017, higher by 51% than last year’s P340.1 million.
Consolidated revenues increased to P3,070 million, higher by 52% than last year’s P2,014 million. Eighty-four percent of the revenues came from the sale of condominium units, including accretion of interest income.
Total earnings before interest, taxes, depreciation and amortization (EBITDA) reached P894 million, 36% higher than last year’s P657 million primarily driven by the strong performance of the residential segment. Overall EBITDA margin registered at 29% of total revenues, which is lower compared to last year’s 33%. Residential development, commercial development and hotel contributed 64%, 33% and 3% to the total EBITDA, respectively. Net income after tax (NIAT) registered at P516 million, up by 51% from last year’s P342 million. NIAT margin remains at 17%.