ATI 2022 income up 35% to P3.03B

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ATI 2022 income up 35% to P3.03B
Manila South Harbor. Photo courtesy of Asian Terminals Inc.
  • Asian Terminals Inc netted P3.03 billion last year, 35% higher than the P2.24 billion earnings in 2021
  • The growth was fuelled by greater cargo and passenger volumes at ATI’s Manila and Batangas ports
  • Manila South Harbor and Batangas Port handled 4.5% more containers in 2022 than in 2021
  • Batangas Port’s car carrier terminal set a new operations milestone, with more than 230,000 completely built-up cars handled, 73% more than in 2021
  • Batangas Passenger Terminal handled more than 2.2 million outbound passengers and nearly 360,000 domestic roll-on/roll-off vehicles

Asian Terminals Inc. (ATI) reported a net income of P3.03 billion in 2022, exceeding by 35% the P2.24 billion earned in 2021, driven by greater cargo and passenger volumes handled by its Manila and Batangas ports.

“ATI is very pleased to report solid results for the year amid macroeconomic headwinds, market uncertainties, and the prevailing pandemic conditions,” the port operator said in a statement.

Revenue grew 22% to P13.62 billion in 2022 from P11.16 billion in 2021. Revenues from its international container port operations in Manila South Harbor and Batangas increased 19.2% and 12.7%, respectively.

ATI attributed the increased revenues to more boxes in 2022 cargoes compared with the previous year, while revenues from non-container port operations in Batangas surged 65.9% on record volumes of international rolling cargoes and the robust increase in passenger numbers.

On a consolidated basis, ATI’s Manila South Harbor and Batangas Port handled more than 1.4 million twenty-foot equivalent units (TEU) of containers from January to December 2022, up 4.5% from 2021.

In the non-containerized segment, Batangas Port’s car carrier terminal set a new operations milestone as it ended the year handling more than 230,000 completely built-up cars (CBUs), 73% more than in 2021 and eclipsing its previous record of 201,000 CBUs back in 2016.

The Batangas Passenger Terminal facilitated the safe transit of more than 2.2 million outbound passengers and nearly 360,000 domestic roll-on/roll-off vehicles with the continued easing of COVID-19 travel restrictions.