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

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ATI records 77.7% surge in net income in first 9 months
Manila South Harbor aerial photo from Asian Terminals Inc.
  • Asian Terminals Inc. reported a 77.7% surge in net income in the first nine months of the year to P3.2 billion
  • Revenue from international container operations at the Manila South Harbor and Batangas Container Terminal jumped 12.7% and 56%, respectively
  • Terminals handled 9.5% more containers to 1.14 million TEUs
  • Batangas port serviced 2 million outbound passengers, up 17%
  • Domestic vehicle traffic transiting Batangas Port rose nearly 4%, surpassing 390,000 vehicles

Asian Terminals Inc. (ATI) reported a 77.7% surge in net income in the first nine months of the year to P3.2 billion from P1.8 billion in the same period last year.

Revenue for January to September 2023 amounted to P11.4 billion, 16.8% higher than the P9.8 billion year-on-year, the port operator said in a regulatory disclosure.

Revenue from international container operations at the Manila South Harbor and Batangas Container Terminal jumped by 12.7% and 56%, respectively. Additionally, revenue from non-container operations in Batangas saw a 0.1% increase due to higher roll-on/roll-off traffic and passenger volumes.

During this period, ATI handled nearly 1.14 million twenty-foot equivalent units, a 9.5% growth compared to the same period in 2022.

For its non-containerized operations, Batangas Passenger Terminal handled close to 2 million outbound passengers from January to September, or 17% higher than last year. This brings Batangas Port closer to its pre-pandemic annual average foot traffic for outbound passengers, according to ATI.

Domestic vehicle traffic transiting Batangas Port also rose by nearly 4%, surpassing 390,000 vehicles during the period.

ATI said Batangas port is positioned to handle more passengers, vehicles, and domestic trade with the completion of its port modernization project towards the first quarter of 2024.

The upgraded terminal will be capable of handling over 6,000 outbound passengers simultaneously, a substantial increase from its current capacity of 3,000, officially establishing it as the largest, busiest, and most modern passenger terminal in the Philippines.

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