RLC Delivers 11% Growth In 9M 2026 Net Income As EBITDA Exceeds ₱20 Billion

Robinsons Land Corporation (RLC) sustained its growth momentum in the first nine months of 2026, with consolidated net income rising 11% year-on-year to ₱13.4 billion, driven by the continued expansion of its recurring income portfolio and resilient performance across its diversified businesses.

Consolidated revenues grew 8% to ₱38.5 billion, while EBITDA increased 6% to ₱20.2 billion. Income before tax reached ₱14.5 billion, up 11%, while net income attributable to equity holders of the parent rose 4% to ₱10.6 billion despite higher contributions from joint venture partners. For the third quarter alone, revenues increased 4% to ₱13.1 billion, while consolidated net income grew 9% to ₱4.4 billion.

RLC maintained a strong balance sheet and ample financial flexibility. Total assets reached ₱281.1 billion, while total equity increased to ₱197.4 billion. Interest-bearing debt declined 15% to ₱33.6 billion, resulting in a conservative Net Debt-to-Equity ratio of 0.10x and Net Debt-to-EBITDA ratio of 0.7x. Cash and cash equivalents stood at ₱14.6 billion as of end-September 2026. During the period, RLC generated ₱8.1 billion in free cash flow after investing ₱14.6 billion in capital expenditures to support future growth.

"RLC delivered another period of solid earnings growth, underpinned by the resilience of our recurring income businesses and the strength of our balance sheet. The continued expansion of our malls, offices, hotels, and logistics portfolio provides us with a growing and stable earnings base, while our development businesses create additional value through strategic project execution. As we continue to invest for future growth, we remain focused on delivering sustainable returns and long-term value for our shareholders."

- Mybelle V. Aragon-GoBio, President and Chief Executive Officer

MALLS

RLC's malls business remained the Group's largest earnings contributor, generating ₱15.4 billion in revenues, ₱9.1 billion in EBITDA, and ₱6.3 billion in EBIT during the first nine months of 2026, representing year-on-year growth of 6%, 4%, and 4%, respectively. In the third quarter alone, revenues increased 5% to ₱5.3 billion, while EBITDA and EBIT rose 5% to ₱3.1 billion and ₱2.2 billion, respectively, driven by higher revenues from existing and newly opened malls despite inclement weather during the quarter.

The portfolio comprised 57 malls with 1.7 million square meters of gross leasable area (GLA) and a 94% occupancy rate. During the quarter, RLC opened the 17,000-square-meter Robinsons Dumaguete Expansion, which commenced operations with an impressive 99% occupancy rate, further enhancing the Company's recurring income base.

OFFICES

RLC's Office segment continued to generate stable recurring earnings, posting ₱6.6 billion in revenues, ₱5.2 billion in EBITDA, and ₱4.2 billion in EBIT during the first nine months of 2026, representing growth of 5%, 5%, and 4%, respectively. Third-quarter revenues and EBITDA likewise increased by approximately 4%, supported by healthy leasing activity across the portfolio.

As of September 2026, the portfolio consisted of 35 office buildings with 897,000 square meters of GLA and an 87% occupancy rate. During the period, RLC completed Cybergate Dumaguete, a 7,000-square-meter office building that commenced operations fully leased, and expanded its flexible workspace platform with two new work.able centers, bringing total capacity to 5,064 seats across 19 centers.

HOTELS

The Hotels segment generated ₱5.0 billion in revenues, ₱1.5 billion in EBITDA, and ₱789 million in EBIT during the first nine months of 2026, representing year-on-year growth of 5%, 7%, and 3%, respectively. Performance continued to benefit from healthy demand across business travel, meetings, events, and leisure segments. Third-quarter results were temporarily impacted by the closure of Summit Hotel General Santos following the earthquake, resulting in a 6% decline in revenues and a 5% decline in EBITDA.

The segment's portfolio comprises 27 owned hotel properties under 10 brands, with more than 4,000 room keys and an average occupancy rate of 64%.

LOGISTICS (RLX)

RLX remained RLC's fastest-growing business unit, with revenues increasing 31% to ₱863 million, EBITDA rising 33% to ₱797 million, and EBIT surging 43% to ₱627 million during the first nine months of 2026. Growth was driven by the ramp-up of newly completed facilities and additional leased space across the portfolio, supported by a low base in the same period last year.

Momentum further accelerated in the third quarter, with revenues, EBITDA, and EBIT growing 44%, 46%, and 61%, respectively. As of September 2026, RLX operated 15 industrial facilities totaling approximately 328,000 square meters of GLA, reinforcing its position as one of the country's leading industrial facility providers.

RESIDENTIAL

The Residential segment generated ₱10.1 billion in revenues, ₱3.1 billion in EBITDA, and ₱3.0 billion in EBIT during the first nine months of 2026, representing growth of 15%, 9%, and 9%, respectively. Revenue recognition from project completions and prior-period sales continued to support earnings growth during the period. Third-quarter revenues increased by 6%, while EBITDA and EBIT decreased by approximately 5%, largely due to project timing and revenue recognition mix. Equity earnings from joint ventures reached ₱956 million for the period.

Combined reservation sales from RLC's core projects and joint ventures amounted to ₱19.24 billion.

DESTINATION ESTATES

Destination Estates generated ₱717 million in revenues and ₱428 million in EBITDA during the first nine months of 2026, representing year-on-year growth of 6% and 7%, respectively. Performance was supported by continued development and estate-related activities across the portfolio.

Third-quarter results were relatively softer, with revenues increasing 1% while EBITDA declined 2% year-on-year, reflecting the timing of estate-related revenues. Nonetheless, the segment remained profitable and cash-generative during the period.

ROBINSONS SPORTS AND LEISURE (RSL)

As part of its strategy to deepen customer engagement and drive higher traffic across its commercial properties, Robinsons Sports and Leisure (RSL), RLC's newest business division, is developing a portfolio of destination sports, wellness, and entertainment concepts. Its pipeline includes GX Sports, Helios Beta, new Pickleball venues, the Helios Pickleball Center, and the NUSTAR Grand Theater, all designed to broaden RLC's lifestyle offerings and create new demand drivers across its ecosystem. These investments are expected to strengthen foot traffic, extend customer dwell time, and support the long-term growth of the Company's recurring income platform.

CAPITAL EXPENDITURES

RLC invested ₱14.6 billion in capital expenditures during the first nine months of 2026, including ₱12.3 billion for investment and development projects excluding landbank acquisitions. Investments were allocated primarily to Malls (37%), Residential (29%), Offices (17%), Hotels (9%), Logistics (5%), and Destination Estates (3%), supporting the continued expansion of the Company's recurring income portfolio and long-term growth initiatives.