Rockwell Land CorporationRockwell Land Corporation registered P12,201 million in consolidated revenues, higher by 14% from last year’s P10,721 million, for the nine months ended September 30, 2018 and 2017.
Total earnings before interest, taxes, depreciation and amortization (EBITDA) reached P3,402 million, 25% higher than last year’s P2,715 million, both driven by higher sales and completion of residential development and additional 44,000 square meters of leasable area for the commercial segment. Overall EBITDA margin registered at 28% of total revenues, which is higher compared to last year’s 25% mainly due to the improvement of Rockwell Primaries operations.
The total revenues used as basis for the EBITDA margin exclude 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 64%, 34% and 2% to the total EBITDA, respectively.
Net income after tax (NIAT) registered at P1,888 million, up by 19% from last year’s P1,593 million. NIAT margin is at 15%, same as last year.