PNB Holdings delivers 26% revenue growth in H1 2026
LT Group’s PNB Holdings Corporation (PHC) reported a strong first-half 2026 performance, with revenue reaching ₱634.3 million, 26% higher from ₱502.7 million in the same period last year. The growth reflects broad-based gains across the Company’s portfolio, led by PNB Financial Center and PNB Makati Center, which contributed 67% and 26% of total revenues, respectively.
Gross profit rose 58.5% to PHP 326.9 million, EBITDA increased 40.3% to PHP 336.5 million, and net income advanced 85.3% to PHP 209.9 million, demonstrating operating discipline and the resilience of the Company’s earnings base.
“We are encouraged by our first-half results as they demonstrate a growing and resilient revenue base, stronger profitability, and robust liquidity,” said Ponciano S. Carreon Jr., Chief Financial Officer of PNB Holdings. “As we approach our planned listing by way of introduction, the Company is well positioned to pursue growth opportunities with financial flexibility, capital discipline, and a clear focus on long-term shareholder value.”
During the first half of the year, the Company continued to benefit from the repositioning of its properties into integrated workplace ecosystems that respond to evolving occupier preferences through a blend of traditional office spaces, flexible coworking solutions, food & beverage (F&B) concepts, and health and wellness offerings, on top of the retention and expansion of existing tenants, and optimization of its existing leasable portfolio.
Notably, the Department of Trade and Industry’s Likhang Filipino Exhibition Halls at PNB Financial Center, further increased activity within the 10-hectare property and highlighted its attractiveness as a venue for businesses, institutions, and community-oriented initiatives.
PNB Holdings’ balance sheet remains strong and conservatively managed. As of June 2026, total assets stood at ₱50.894 billion, up from ₱50.456 billion as of December 2025. More than 90% of the Company’s asset base is represented by the book value of its prime real estate portfolio, consisting of strategically located properties in the Makati CBD and along Macapagal Boulevard in Pasay City.
The most significant movement during the period was the 30% increase in cash and cash equivalents to ₱3.025 billion. The Company also maintained a very low debt-to-equity ratio of 0.02 and remains free of interest-bearing loans, underscoring its strong financial position and prudent capital management.
“Our robust working capital position and exceptionally low debt-to-equity ratio provide the company with significant capacity to responsibly leverage its balance sheet and pursue value-accretive redevelopment and acquisition opportunities at the right time,” Carreon added.
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