00:00Billionaire Manny Villar's Vista Land & Lifescapes reports a 59% drop in net income for 2025,
00:07a steep drop amid soaring financing costs and provisions for potentially uncollectible
00:11receivables. Its net income plunged to 3.8 billion pesos from 9.37 billion pesos in 2024.
00:18But the company leads its announcement with its EBITDA, which rose 6% to 24.2 billion
00:24pesos from 22.82 billion pesos the company's target for the year. Unlike net income, EBITDA excludes
00:31interest, taxes, depreciation, and amortization. This means it can rise even as the bottom line
00:37falls if these expenses increase, such as when a company faces substantial borrowing costs.
00:43Vista Land also reports 35.8 billion pesos in consolidated revenue but gross profit from its
00:48residential business fell 18% to 9.7 billion pesos. The company earlier explained the deterioration
00:55of its net income by saying its results, quote, reflect in part the recognition
00:59of interest expenses that were not capitalized into qualifying assets.
