By Alexandria Grace C. Magno, Reporter
VISTA LAND & Lifescapes, Inc.’s attributable net income fell 69.6% to P2.33 billion in 2025 from a year earlier as higher costs, operating expenses and financing charges weighed on earnings.
Consolidated net income declined 59.2% to P3.83 billion, while revenue slipped 3.1% to P35.8 billion, the Villar-led property developer said in its annual financial report filed with the Philippine Stock Exchange on Monday.
Total costs and expenses rose 25.2% to P19.04 billion, driven by higher real estate cost of sales and operating expenses.
Real estate cost of sales increased 13.8% to P5.46 billion. The company said 2024 results benefited from adjustments that reduced reported costs, while no similar adjustments were made last year.
Operating expenses climbed 30.5% year on year to P13.58 billion, mainly due to higher provisions for impairment losses on receivables and increased taxes and licenses.
Real estate sales revenue fell 8.7% to P15.18 billion as fewer sold properties reached completion during the year.
Among its residential brands, Brittany posted a 53.7% increase in revenue to P2.5 billion.
Communities Philippines’ revenue declined 3.7% to P5.77 billion, while Camella’s fell 4.1% to P3.44 billion.
Crown Asia’s revenue dropped 25.3% to P694.9 million, while Vista Residences’ revenue decreased 38.2% to P2.79 billion.
Vista Land said the declines reflected fewer sold properties reaching completion or remaining under construction.
Rental income rose 1% to P16.49 billion from P16.33 billion, supported by higher rental rates.
In a separate statement, Vista Land said earnings before interest, taxes, depreciation and amortization reached P24.2 billion, meeting its target for the year. The company added that its reported results included interest expenses that were not capitalized into qualifying assets.
Vista Land launched 46 horizontal residential projects with an estimated value of P49.6 billion in 2025, led by its Camella brand.
“The company’s performance also reflects its strategy of maximizing the value of its extensive landbank and investment properties, with Vista Estates serving as a key platform for developing integrated, master-planned communities across the country,” it said.
As of end-2025, total assets stood at P376.8 billion, while total equity amounted to P137.1 billion.
“The company continues to manage its financial resources and development activities in support of its ongoing operations and long-term business objectives,” Vista Land said.
The company said it would continue to focus on its horizontal housing business through Camella, Crown Asia and Brittany while expanding integrated developments under Vista Estates.
Vista Land was the first among six Villar-linked companies with suspended shares to release its 2025 financial results. Its shares have been suspended from trading since June 2 for failing to submit its first-quarter report, while the Philippine Stock Exchange imposed penalties for the late filing of its 2025 annual report.