About the Cover
Ayala continues its great tradition of building businesses in industries that are undergoing critical economic and social transformation. Through creative, transformative, and sustainable business models, we constantly look to develop value over the long term, remain flexible to adjust to changing circumstances, and align our strategic agenda with the broader development needs of society.Learn More
About this Integrated Report
The 2021 Ayala Integrated Report (IR) provides a comprehensive view of the way we integrate our values into our business. It demonstrates how we live up to our purpose of creating meaningful impacts on the economy, the environment, and the communities we affect. This IR is a testament to Ayala’s long-term commitment to sustainability.Learn More
Ayala at a Glance
We will be the most relevant, innovative, and enduring Philippine-based business group, enabling shared value and prosperity for the many stakeholders we serve.
To improve lives through resilient businesses and risk-calculated investments that have a meaningful and lasting impact on the country’s economic and social landscape.
Reinventing Businesses, Transforming Communities
Anchored on values of integrity, long-term vision, empowering leadership, and with a strong commitment to national development, Ayala fulfills its mission to ensure long-term profitability and value creation. Ayala creates synergies as it builds mutually-beneficial partnerships and alliances with those who share its philosophies and values.
Our Core Values
We do the right thing in every decision that we make.
We build sustainable businesses.
We bring out the best in each other as leaders at any level.
Commitment to National Development
We respond to the country’s changing needs.
Our 2021 Milestones
Concludes its stock rights offering with the listing of 2.2 billion common shares at the Philippine Stock Exchange, raising P5.4 billion.
Achieves 100% carbon neutrality for its malls, offices, hotels, and resorts, subject to third party verification in 2022.
Completes the acquisition of a majority stake in the QualiMed Health Network.
Announces leadership transition, with Jaime Augusto Zobel de Ayala to focus in his role as Chairman and Fernando Zobel de Ayala to become President and CEO.
Ayala’s CEO formally lays out the company’s Three-Point Strategic Agenda for 2023.
Created a Sustainability Committee that reports to the Board, headed by Cezar P. Consing.
AC, Ayala Land, BPI, Globe, AC Energy, Manila Water, and Integrated Micro-electronics sign the statements of support to the Task Force on Climate-related Financial Disclosures.
Marks its 30th anniversary as listed company at the Philippine Stock Exchange.
ACEN becomes a constituent of the PSEi.
Launches its five-point strategy centered on passion for the customer as its five-year roadmap.
Announces its goal to halt coal plant financing by 2032.
Ayala commits to achieve net-zero greenhouse gas emissions by 2050.
Ayala signs a US$100 million social bond with the International Finance Corporation for its healthcare investments.
Mynt achieves double unicorn status with the US$300 million infusion from Warburg Pincus, bringing its valuation to over US$2 billion.
GCash reaches positive EBITDA for the year and profitability three years ahead of target, with gross transaction value exceeding target to P3.8 trillion.
GIC completes acquisition of a 17.5% stake in ACEN.
First shipment of Molnupiravir in Southeast Asia, an oral anti-viral treatment for mild COVID-19, arrives through MedEthix, AC Health’s pharmaceutical importers and distributor.
Supports the national vaccination program, administering 649,000 COVID-19 vaccination doses by year-end.
Signs an Investment Agreement to acquire a 60% stake in the AIR21 Group.
Our portfolio consists of diversified businesses across three pillars—core value drivers, emerging businesses, and portfolio investments. Our core value drivers are established franchises that have captured a strong momentum in the Philippine economy over the past decade.Learn More
Leading property developer in the country with solid track record of developing large-scale, mixed-use, and sustainable estates across over 12,000 hectares of landbank
Market cap ~US$10 billion 2
Among the top three banks in the country with established leadership in new banking technology and sustainable financing
Market cap ~US$8.7 billion 2
Digital platform with market leadership in telecommunications and fintech and major interest in digital marketing solutions, venture capital funding, entertainment, and virtual healthcare
Market cap ~US$6.6 billion 2
One of the fastest-growing energy companies in the region and at the forefront of energy transition towards a low-carbon economy
Market cap ~US$6.5 billion 2
1 Ownership as of February 2022
2 Market cap as of March 2022
3 AC’s effective ownership of ACEN post restructuring (post follow-on offering and post international asset infusion)
Ecosystem of pharma, clinics and hospitals, and digital health platforms with the goal of bringing accessible and quality healthcare to Filipinos.
Technology enabled logistics provider moving towards an integrated and full-suite platform aimed to cater all segments across its value chain.
Our Climate Ambition
At the recently concluded UN Climate Change Conference, almost 200 countries agreed to limit the rise in global temperatures to 1.5°C. This reiterated the need for mitigation, adaptation, climate financing, and collaboration to slow the effects of industry on climate change, with the intention of eventually reversing them.Learn More
Statement from the Board
The Board ensures the integrity of this report and confirms that all disclosures on the company’s performance and impact are presented fairly, following the frameworks that the organization adheres to in Integrated Reporting. The Board provided high-level supervision to the teams responsible in the production of this report. The teams are composed of skilled internal parties who devoted their expertise and efforts to guarantee that the disclosures in the report and the Ayala story follow the related standards and are presented in a fair manner.
Ayala engaged external assurance parties, SyCip Gorres Velayo & Co. and DNV, to validate the financial and environment, social, and governance disclosures. This is to further ensure accuracy, objectivity, and overall report quality. The report was prepared under the supervision of the Chief Finance, Risk, and Sustainability Officer, Alberto M. de Larrazabal.
The Integrated Report contains certain forward-looking statements which, by their nature, involve risk and uncertainty because they relate to future events and circumstances that may be beyond Ayala’s control. In addition, regulations of the Philippine Stock Exchange prohibit making price sensitive forecasts without considerable independent review and process. The directors therefore advise readers to use caution regarding interpreting any forward-looking statement in the report.
The Board unanimously approved this report on 10 March 2022, and authorized its release on 13 April 2022.
& Sustainability Officer