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ROXAS AND COMPANY GEARING FOR RECOVERY

[October 06, 2021]-Manila

Roxas and Company, Inc. (RCI) subsidiaries are taking advantage of strong global coconut product demand, a slow but highly anticipated travel resurgence, and real estate ventures.

Roxas Sigma Agriventures, Inc. (RSAI) is ramping up production volume following the successful approval and partial release of a P100m loan from DBP in July 2021. August tonnage vs. same period last year rose 13%, netting a 40% improvement in average throughput year-on-year. The company forecasts up to a 50% increase in full year revenues vs. 2020.

Since Q1 2020, Roxaco Asia Hospitality Corporation’s (RAHC) four budget Go Hotels tallied strong occupancy as quarantine facilities as demand remains high for affordable, clean, safe, strategically located, and health-compliant facilities. RAHC is welcoming corporate clients as it slowly pivots to regular guests.

Anya Resort Tagaytay (ART) is reopening as a staycation choice for NCR clients, where 90% of its visitors come from. It offers room, dining, wellness, and events services with its 78 world class rooms, two restaurants, a heated pool, and a new Spa offer in a secure and serene location. It also caters to conferences, meetings, and family functions.

Various projects in Roxaco Land Corporation (RLC) are in progress. The southward expansion of housing and commercial developments as well as tollway and utility investments by private firms and government take advantage of RLC’s strategically located landbanks.

The Group achieved an overall 89% vaccination rate across its businesses, with RCI on track to hit 90% in all subsidiaries by early Q4 2021.

In its latest filing, RCI disclosed that its first half 2021 Revenues improved to P632m, a 250% growth vs. same period 2020 as its real estate, hospitality, and coconut processing units bucked the pandemic and recession. Its gross margin improved more than four-fold to 60%, allowing the listed firm to narrow its January to June 2021 loss to P98m from a P368m loss a year ago.

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