RLC’s P30.4B bonds retain top credit rating, stable outlook

Robinsons Land Corporation (RLC) has maintained its highest credit rating of PRS Aaa with a Stable Outlook from the Philippine Ratings Services Corporation (PhilRatings) for its outstanding bonds worth %u20B130.4 billion.

A PRS Aaa rating signifies the highest quality obligations with minimal credit risk, indicating RLC’s strong ability to meet its financial commitments. The Stable Outlook suggests that this rating is expected to remain unchanged in the next 12 months.

PhilRatings cited RLC’s diversified portfolio, established brand reputation, steady growth in margins and returns, and ambitious expansion plans under an experienced management team as key factors in maintaining the top rating. The company’s healthy liquidity, backed by steady cash flows and a conservative capital structure, further reinforced its strong financial position.

RLC remains confident in its growth trajectory, capitalizing on the continued expansion of the domestic economy. The company’s various business segments—including malls, offices, hotels, and warehouses—have demonstrated resilience and robust performance.

In 2023, RLC posted a 20.1% increase in net income to %u20B113.4 billion, marking its third consecutive year of growth. The company also reported record-high EBITDA and EBIT margins, reflecting strong revenue performance and effective cost management.

RLC sustained its momentum in the first nine months of 2024, recording a 4% year-on-year increase in revenues, a 7.2% rise in operating income, and a 17.6% growth in net income. These gains were driven by the continued strong performance of its investment portfolio.

Higher earnings also translated into improved cash flow, with operating cash flows reaching %u20B116 billion in 2023, a 35.3% jump from the previous year. In the first nine months of 2024, the company’s operating cash flow remained strong at %u20B113.6 billion.

With its solid financial position and strategic growth initiatives, RLC is poised to sustain its leadership in the real estate sector while maintaining its strong credit standing.