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ALI Annual Report 2011a

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  About this Integrated Annual and Sustainability Report  This fully integrated Annual and Sustainability Report is a testament to ourcommitment to sustainable business practices. This year, we continue to reportour financial performance together with the sustainability initiatives that we haveadopted, as we believe these two are invariably linked. More and more, sustainability has become relevant to our business, and yourCompany has likewise progressed in assimilating various systems to ensure thatour business will continue through the years and that our buildings make theleast impact to the environment. For this reporting period, we tracked ourperformance on 79 Global Reporting Initiative (GRI) indicators, 39% more than the indicators tracked in 2010, making this self-declared report compliantwith GRI application level A guidelines.  The sustainability section of this report covers the performance of Ayala Land,Inc., Alveo Land Corporation, Avida Land Corporation, and Ayala PropertyManagement Corporation. This report, together with our past publications,may be downloaded from our websites at www.ayalaland.com.ph andir.ayalaland.com.ph. We would appreciate any feedback you may want to sharein order for us to further improve our sustainability practices. You may alsocontact us about this report via e-mail at integratedreport@ayalaland.com.ph. About the cover Our cover quote is taken from the Message of our President, Antonino T.  Aquino, which begins on page 8.From residential homes to office buildings, from shopping districts to hotels and resorts, our cover image illustrates the focus of our development process. While every undertaking in Ayala Land begins with a vision, rigorous planning and a firm commitment to deliver quality in everything we do ensures that we remain the largest and most diversified property developer in the Philippines.  Enhancing Land and Enriching Lives, for More People Our vision is to enhance our standing and reputation as the Philippines’ leading real estate developer and to be a strong partner in nation building. By developing integrated, masterplanned and sustainable mixed-use communities in vibrant growth centers all over the country, we strive to continually elevate the quality of life for all of our customers. We shall be a responsible corporate citizen and act with integrity, foresight and prudence. We shall empower our employees to deliver products that exceed our customers’ expectations and build long-term value for our shareholders. Table of Contents 2011 in Review  2 Year in Summary 6 Chairman’s Letter 8 President’s Message 16 CFO and Compliance Officer’s Report Our Businesses  22 Property Development 28 Commercial Leasing 30 Hotels and Resorts 32 Services Corporate Governance  36 Board of Directors 40 Management Committee 42 Corporate Governance Report 48 Risk Management Report Sustainability Report  52 Letter from the Sustainability Committee 53 Management Approach 55 Sustainability Framework  56 Environmental Stewardship and Impact Reduction 63 Community Stewardship and Social Development 67 Personnel Development, Health, and Safety 71 Market Shaping 73 Awards and Recognition 74 Stakeholders’ Commentaries 75 GRI Index Financial Review   80 Management’s Discussion and Analysis of Financial Results 83 Report of the Audit and Risk Committee 84 Statement of Management’s Responsibility 85 Report of Independent Auditors 86 Financial Statements 93 Notes to Financial Statements 160 Subsidiaries and Affiliates 162 Key Officers and Consultants  year in summary How did we do? 1 3 return on equity 12% Net Income After Tax P 7.1B net income capex P29.9B 4,3684,8124,0395,4587,14015,41318,89316,23320,05529,91410%10%10%12%8% We increased our cash dividend by 58% and the dividend payout ratio from 30% to 35%. We achieved a record net income of P7.1 billion, 31% higher than 2010. We spent P29.9 billion in capital expenditure (CAPEX), a new record that was 49% higher than 2010. 2 2011 Integrated Annual and Sustainability Report
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