Rockwell Land CorporationRockwell Land Corporation registered P3,333 million in consolidated revenues, higher by 9% from last year’s P3,063 million for the first three months ended March 31, 2018 and 2017. Eighty-three percent of the revenues came from the sale of condominium units, including accretion of interest income.

Total EBITDA [earnings before interest, tax, depreciation and amortization] reached P1,063 million, 19% higher than last year’s P894 million primarily driven by strong performance of the residential segment. Overall EBITDA margin registered at 32% of total revenues, which is higher compared to last year’s 29%. The total revenues used as basis for the EBITDA margin excludes gross revenues from the joint venture with Meralco as the latter is reported separately. Share in net income in the joint venture contributes 6% to the company’s total EBITDA. Residential development, commercial development and hotel contributed 66%, 32% and 2% to the total EBITDA, respectively.

Net income after tax (NIAT) registered at P614 million, up by 19% from last year’s P516 million. NIAT margin remains at 18%, slightly higher than the same period in 2017.