DOUBLEDRAGON Corporation has reported that its Consolidated Net Income grew +87.2% year-on-year to P11.3 billion for the year ending Dec. 31, 2021, with Consolidated Revenues increasing +11.7% year-on-year to P15.9 billion for the same period.
Total Assets of the company are up +17.2% year-on-year to P141.7 billion as of Dec. 31, 2021.
Total Equity grew +41.3% year-on-year to P69.3 billion as of Dec. 31, 2021 as a result of the DDMP REIT listing and new equity infusion of the Jollibee Group into DoubleDragon’s industrial leasing subsidiary CentralHub.
DoubleDragon’s net Debt-to-Equity ratio stood at a low 0.62x as of Dec. 31, 2021.
The company’s unutilized Debt Capacity stood at P110.4 billion as of Dec. 31, 2021.
“We are pleased to have ended 2021, with DoubleDragon surpassing its 2022 goal of 1.2 million square meters GFA of completed recurring income portfolio,” said DoubleDragon Chairman Edgar “Injap” Sia II.
The whole cycle coming from zero leasable space, when DoubleDragon listed in the Philippine Stock Exchange last April 2014, to over 120 hectares of fully constructed recurring income portfolio today was not a walk in the park, according to Sia, “and we are grateful for the support of all our stakeholders in the past 7.5 years that enable our team to make that happen.”
“We see these 1.2 million completed square meters to like having 1.2 million of real estate seeds planted in prime strategic areas spread out across the country. This string of prime hard assets should mature and generate recurring revenues at different times, but we expect all of them to reach optimal recurring revenue generation before 2025, and to endlessly contribute sizeable recurring revenue cash flow to DoubleDragon,” added Sia.
Surviving a global pandemic is one thing, but DoubleDragon is emerging from it at a stronger position than ever before, said DoubleDragon Chief Investment Officer Hannah Yulo-Luccini.
“DoubleDragon has a low net debt to equity ratio of 0.62x, consolidated cash balance at P11.27 billion and will have no key long-term debt maturities until 2024. On top of that, in the last few years, we have seen the NAV of DoubleDragon further solidifying, its book value alone is already at P13.09 per common shareholder with total equity now standing at P69.3 billion,”added Yulo-Luccini./PN
