ATI posts 89.1% jump in net income in 1H

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Batangas Container Terminal. Photo from ATI.
  • Asian Terminals Inc posted an 89.1% increase in net income to P2.155 billion in the first half of the year from P1.14 billion in the same period last year
  • Revenues for the first six months went up 22%
  • Revenues from operations in Manila South Harbor and Batangas Container Terminal grew by 17.2% and 62.8%, respectively, on account of higher container volumes
  • Revenue from ATI Batangas was also higher by 5.7% year-on-year due to higher domestic roll-on/roll-off volumes and passenger traffic

Asian Terminals Inc (ATI) posted an 89.1% increase in net income to P2.155 billion in the first half of 2023 from P1.14 billion in the same period last year.

Revenues for the first six month of the year went up 22% to P7.447 billion from P6.105 billion in the same period last year, the port operator said in a regulatory disclosure.

Revenues from its operations in Manila South Harbor and Batangas Container Terminal grew by 17.2% and 62.8%, respectively, on account of higher container volumes. Revenue from ATI Batangas was also higher by 5.7% year-on-year due to higher domestic roll-on/roll-off volumes and passenger traffic.

Government share in revenues for the first half of 2023 increased by 15.5% to P1.283 billion from P1.110 billion as a result of higher revenues subject to port authorities’ share.

To sustain its momentum and in preparation for future trade growth, ATI earlier said it has allocated a minimum of P5.2 billion in capital investment for 2023.

This will bankroll the creation of additional berthing spaces and yard facilities, deployment of new cranes and eco-friendly equipment, reopening of the Manila cruise terminal, expansion of ports and logistics touchpoints in key markets, and the rollout of innovations and technologies, in line with ATI’s long-term commitment with the port authority and in support of the Philippine economy.

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