Ayala said in a statement it would use the amount to fund investment programs in property, telecommunications and water businesses, as well as in the power and transport infrastructure sectors.
The conglomerate spent a record P150 billion in 2012 to finance new investments and fund the purchase of the 10.4-percent stake of DBS Bank Ltd. in the Bank of the Philippine Islands as well as acquisitions of various power assets.
“We are encouraged by the robust performance of our core businesses and improved profitability of our international businesses. This validates the programs and strategies we have implemented across the group over the past two years,” Ayala president and chief operating officer Fernando Zobel de Ayala said.
Ayala, the holding company of the Zobel de Ayala family, has stakes in Ayala Land Inc., Globe Telecom Inc., Manila Water Co. Inc., Bank of the Philippine Islands, Integrated Micro-Electronics Inc., Honda Cars Makati Inc., Isuzu Automotive Dealerships Inc. and AC Energy Holdings Inc.
“The strong and sustainable earnings trajectory and steady cash flows from our core businesses have enabled us to scale up our investments in the new businesses we are pursuing in the power and transport infrastructure spaces. We envision these two emerging sectors to serve as platforms for future growth,” he added.
The conglomerate said the 2012 net income was led by the strong performance of its core real estate, banking and water businesses.
Consolidated revenues increased 16 percent to P125 billion.
Ayala ended the year with gross debt of P70 billion and cash of P37 billion.
The conglomerate raised debt and equity capital to bankroll its new projects last year, including the issuance of P10-billion 15-year fixed-rate bonds and another P10-billion seven-year fixed-rate bonds.
It also sold common shares held in treasury, raising P6.45 billion from the placement.
Ayala Land saw its net income rise 27 percent to P9 billion while BPI also posted a 27-percent growth in profit to P16.3 billion.
Globe Telecom’s core net income improved 2 percent to P10.3 billion while Manila Water increased its profit by 28 percent to P5.4 billion.
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