Rockwell Land Corporation registered P8,292 million in consolidated revenues for the six months ended June 30, 2023 and 2022, higher by 7% from last year’s P7,732 million. Residential development accounted for 79% of the total revenues in 2023, higher than last year’s 69%.

Total earnings before interest, taxes, depreciation and amortization (EBITDA) reached P3,334 million, higher than last year’s P2,875 million driven by higher EBITDA from residential development. Overall EBITDA margin registered at 40% of total revenues, higher than last year’s 37%. The total revenues used as basis for the EBITDA margin exclude gross revenues from the joint venture with Meralco, TGN Realty Corporation and International Pharmaceuticals Inc. as these are reported separately. Share in net income in the joint venture contributed 6% to Rockwell’s total EBITDA.

Residential development and commercial development contributed 60% and 40% to the total EBITDA, respectively.

Consolidated net income after tax (NIAT) registered at P1,704 million, higher than last year’s P1,477 million. NIAT to parent for the six months is P1,559 million, 19% higher from same period last year of P1,307 million.