ATI 2023 net income up 46.6% to P4.438B

0
132
Manila South Harbor. Photo from Asian Terminals Inc.
  • Asian Terminals Inc. reported a 46.6% increase in net income in 2023 to P4.438 billion from P3.028 billion in 2022
  • Revenues from Manila South Harbor international containerized cargo and Batangas Container Terminal grew by 12% and 38.1% year-on-year, respectively, on account of higher container volume
  • ATI handled a consolidated volume of 1.53 million TEUs in 2023, 6.25% higher than the 1.44 million TEUs reported in 2022

Asian Terminals Inc. (ATI) reported a 46.6% increase in net income in 2023 to P4.438 billion from P3.028 billion in 2022.

Revenues went up 13.4% to P15.452 billion last year from P13.623 billion in 2022, the port operator said in a regulatory disclosure.

Revenues from Manila South Harbor (MSH) international containerized cargo and Batangas Container Terminal (BCT) grew by 12% and 38.1% year-on-year, respectively, on account of higher container volume.

ATI handled a consolidated volume of 1.53 million twenty-foot equivalent units (TEUs) in 2023, 6.25% higher than the 1.44 million TEUs reported in 2022.

Revenues from ATI Batangas, on the other hand, were 3.8% lower year-on-year due to lower roll-on/roll-off volumes partly offset by the higher number of passengers.

Cost and expenses in 2023 amounted to P6.629 billion, 7.3% higher than P6.176 billion in 2022.

In 2023, ATI invested a total of P2.2 billion capital expenditures, which were used for the substantial completion of the Batangas Passenger Terminal Phase 2, expansion of existing port facilities, acquisition of additional modern equipment, implementation of smart IT systems as well as the construction of Tanza Container Terminal that were completed in 2023.

READ: BOC grants Tanza Container Terminal license to operate as CY operator

The decrease in actual investment in 2023 of P2.2 billion versus the planned P5.2 billion was mainly due to delay in expansion projects such as Pier 3 berth extension in MSH (due to change in design) and delay in acquisition of cargo handling equipment (due to delay in Pier 3 berth expansion).

ATI marketing manager Reginald Rivera earlier said they expect to complete the Pier 3 berth expansion by the latter part of 2025, bringing the terminal’s annual capacity to 1.9 million twenty-foot equivalent units (TEU) from the current 1.45 million TEUs.

For 2024, ATI said it is investing an estimated P2.7 billion in step with its growth strategy and in line with its investment commitment with government.

The port operator said the capital investment will support the expansion of seaside and landside facilities, acquisition of more modern and greener equipment to boost its carbon reduction program, progression of its auto-gate infrastructure and other smart IT systems, and execution of integrated logistics solutions leveraged on ATI’s port infrastructure.

READ: ATI records 77.7% surge in net income in first 9 months