Port operator Asian Terminals Inc. (ATI) reported an income of P2.96 billion in 2020, lower by 20.4% than its earnings in 2019
Revenues last year stood at P10.96 billion, 17.8% lower than those of 2019
Total cargo volume handled in the second half of 2020 grew compared to the first half of the year, cushioning the negative impact of COVID-19 on the company’s bottom line
ATI closed the year with a volume of nearly 1.3 million TEUs, 19% lower than the record volume of 1.61 million TEUs it handled in 2019
Port operator Asian Terminals Inc. (ATI) reported an income of P2.96 billion in 2020, 20.4% lower than the P3.71 billion it earned in 2019.
Revenues last year stood at P10.96 billion, 17.8% lower than the P13.33 billion posted in 2019, the port operator said in a statement.
ATI said revenues from Manila South Harbor’s international containerized cargo operations and from Batangas Container Terminal (BCT) decreased by 16.9% and 20.2%, respectively, compared to 2019 on account of lower container volumes resulting from the negative economic impact of the COVID-19 pandemic.
Container volumes at Manila South Harbor and BCT declined by 20.4% and 19.7%, respectively.
The port operator noted that total cargo volume handled in the second half of 2020 grew compared to the first half of the year, cushioning the negative impact of COVID-19 on its bottom line.
From July to December 2020, Manila South Harbor and BCT handled over 700,000 TEUs in consolidated container volume, 25% higher than the first half when volumes were heavily impacted by trade slowdown and economic lockdowns locally and globally due to the pandemic.
ATI closed the year with a volume of nearly 1.3 million twenty-foot equivalent units (TEU), 19% lower than the record volume of 1.61 million TEUs it handled in 2019.
“The COVID-19 pandemic has impacted businesses and industries around the world at unprecedented proportions. But with discipline, teamwork, and prudent cost management, ATI has remained resilient, keeping our gateway ports viable and operational 24/7 which in turn kept commodities and cargoes flowing especially during this pandemic,” ATI executive vice president William Khoury said.
“With the roll out of government’s inoculation program, the lifting of government restrictions and the calibrated opening up of the economy, we are optimistic for a stronger year this 2021,” Khoury added.
ATI earlier said it has been undertaking prudent cost management, conducting day-to-day operations anchored on safety and efficiency, and continuing its investment in important port infrastructure projects to “remain resilient amid these challenging times.”
Philippine Ports Authority general manager Jay Daniel Santiago earlier forecast that cargo volumes would grow by 7% and container traffic by 6% to 8% this year.