ATI earmarks P2.7B for 2024 capex

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ATI earmarks P2.7B for 2024 capex
Manila South Harbor. Photo courtesy of Asian Terminals Inc.
  • Asian Terminals Inc. is allocating at least P2.7 billion for capital expenditures this year
  • The 2024 capex will support berth and yard expansion projects, acquisition of more modern and greener equipment to boost the port operator’s carbon reduction program, progression of auto-gate system, and execution of integrated logistics solutions
  • ATI’s Manila and Batangas container terminals handled a consolidated volume of 1.53 million TEUs in 2023, up 6.6% year-on-year
  • Batangas port accommodated over 2.6 million outbound passengers, 530,000 domestic vehicles, and over 298,000 completely-built cars in 2023

Asian Terminals Inc. (ATI) is allocating at least P2.7 billion for capital expenditures this year.

The 2024 capex is in line with the port operator’s long-term commitment with the Philippine Ports Authority and will support berth and yard expansion projects, ATI chairman Glen Hilton said in a speech during the company’s virtual annual stockholders’ meeting on April 25.

ATI president Eusebio Tanco, during the same meeting, said the 2024 capex will also be used for the acquisition of more modern and greener equipment to boost the port operator’s its carbon reduction program, progression of auto-gate system, and execution of integrated logistics solutions leveraged on ATI’s port network.

In 2023, ATI saw a 46.6% increase in net income to P4.438 billion from P3.028 billion in 2022.

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

Its Manila and Batangas terminals handled a consolidated volume of 1.53 million twenty-foot equivalent units (TEUs) in 2023, up 6.6% year-on-year “bringing us close to pre-pandemic levels”, Hilton said.

On the passenger side, Batangas port handled over 2.6 million outbound passengers in 2023, representing a 17% year-on year growth.

Batangas port also processed 530,000 domestic vehicles and over 298,000 completely-built cars.

“Indeed our resilience, adaptability, and focus on our customers have been instrumental in driving our success. We continue to anchor ourselves on these values as we navigate industry challenges and respond to future demand,” Hilton said.