Vista Land and Lifescapes, owned by billionaire Manny Villar, reported a staggering 59% decrease in net income for 2025, dropping to P3.8 billion from P9.37 billion in 2024. This decline comes despite the company achieving a 6% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), which rose to P24.2 billion.
Revenue Growth Contrasts with Profit Decline
The company disclosed P35.8 billion in consolidated revenue, yet its gross profit from the residential sector fell by 18% to P9.7 billion. This contradictory performance raises questions about the company's strategic focus and operational efficiency.
The reported results reflect, in part, the recognition of interest expenses that were not capitalized into qualifying assets.
Vista Land
- 59% decline in net income to P3.8 billion
- EBITDA increased by 6% to P24.2 billion
- P35.8 billion in consolidated revenue
- 18% drop in gross profit from residential business to P9.7 billion
The earnings report, released on October 26, 2026, follows months of delays and has left investors puzzled due to a significant discrepancy between reported figures. Earlier quarterly data showed net income of P9.46 billion for the first nine months, which is more than double the annual figure now reported.
This P5 billion gap suggests potential losses in the fourth quarter or revisions to previously reported figures, prompting concerns about the company's financial management practices.
Amid these financial challenges, Vista Land emphasized its ongoing projects, including 46 new horizontal developments valued at approximately P49.6 billion under its Camella brand. The company reported a total asset value of P376.8 billion at year-end.
Vista Land's recent struggles are not an isolated incident. The company is among several Villar family-associated firms facing scrutiny and trading suspensions due to missed financial reporting deadlines.