Alliance Global Group Inc. (AGI), the conglomerate led by tycoon Andrew Tan, reported a 39% year-on-year increase in net income to ₱19.2 billion in the first half of 2025, boosted by stronger property sales and higher tourism revenues.
The growth came on consolidated revenues of ₱100.9 billion, which included a ₱3.4 billion one-time gain from the deconsolidation of its quick service restaurant business, Golden Arches Development Corp. (GADC). AGI now holds a 49% stake in GADC and treats it as an associate.
Excluding one-off items, normalized net income rose 19% to ₱15.1 billion, while normalized revenues inched up 3% to ₱87.1 billion. Attributable net profit reached ₱10.1 billion, up 23% year-on-year.
“AGI delivered strong results in the first half of the year, benefitting from a buoyant domestic economy despite ongoing global uncertainty,” said AGI president and CEO Kevin Tan. “Our tourism and leisure segments also enjoyed increased activities and occupancy, tapping into the increasing demand for staycations and MICE events.”
Megaworld leads growth
Property arm Megaworld Corp. contributed the largest share to AGI’s earnings, with revenue climbing 10% to ₱43.1 billion. Real estate sales rose 9% to ₱27.1 billion, while office rental income jumped 17% to ₱7.4 billion. Lifestyle mall revenues grew 10% to ₱3.3 billion, and hotel revenues increased 19% to ₱2.8 billion. Attributable net income surged 25% to ₱10.7 billion.
Emperador Rebounds
Liquor unit Emperador Inc. posted a 14% quarter-on-quarter revenue growth in the second quarter to ₱15 billion, driven by strong domestic brandy sales and expanding whisky markets overseas. First-half revenues reached ₱28.2 billion, with net income to owners at ₱3.9 billion.
Travellers’ earnings more than double in Q2
Leisure and gaming subsidiary Travellers International’s attributable income more than doubled quarter-on-quarter to ₱217 million as gross revenues hit ₱9.2 billion, driven by ₱7.5 billion in gaming revenues and ₱1.7 billion from non-gaming operations. First-half revenues stood at ₱18.9 billion, with EBITDA up 11% to ₱4.5 billion.
AGI’s portfolio spans real estate, spirits, leisure and gaming, and quick service restaurants through its interest in McDonald’s Philippines.
