International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the first nine months ended September 30, 2025, confirming strong momentum driven by disciplined execution and a diversified global portfolio.
The Group achieved significant increases across all key metrics, primarily fueled by volume growth and improved operational efficiency across its network spanning the Americas, Asia, and EMEA.
Financial and Operational Highlights (First Nine Months of 2025):
- Consolidated Volume: Increased 11 percent to 10.69 million TEUs (twenty-foot equivalent units), up from 9.60 million TEUs in the same period in 2024, reflecting an improvement in trade activities globally.
- Revenue from Port Operations: Rose 16 percent to US$2.34 billion (from US$2.01 billion in 2024).
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): Grew 17 percent to US$1.54 billion (from US$1.32 billion in 2024), improving the EBITDA margin to 66 percent.
- Net Income Attributable to Equity Holders: Increased 19 percent to US$751.56 million (from US$632.58 million in 2024).
- Diluted Earnings Per Share (EPS): Increased 21 percent to US$0.365.
Enrique K. Razon Jr., ICTSI Chairman and President, commented on the results: “The excellent performance in the first nine months of 2025 is a testament to the strength of our global operations and the disciplined execution of our strategy. With revenues rising 16 percent to US$1.54 billion, we have delivered growth across all key metrics. A 19 percent increase in net income attributable to equity holders and a 21 percent increase in diluted earnings per share reflect our continued focus on prudent financial management and delivering value for our shareholders. Our diversified portfolio has enabled us to capture opportunities in dynamic markets, demonstrating the resilience of our business and operational excellence.”
ICTSI’s strong performance continued into the third quarter (Q3) of 2025:
- Q3 Consolidated Throughput: 12 percent higher at 3.70 million TEUs.
- Q3 Revenue from Port Operations: Increased 20 percent to US$827.74 million.
- Q3 Net Income: Increased 26 percent to US$267.72 million.
Drivers of Growth and Capital Expenditure
The increase in gross revenue was primarily driven by volume growth, favorable container mix, tariff adjustments, and higher revenues from ancillary services. The Group also benefited from volume recovery, particularly at its facility in Guayaquil, Ecuador.
In line with its long-term strategy, ICTSI continues to invest in expansion projects. Capital expenditures for the first nine months of 2025 totaled US$449.61 million, mainly for ongoing expansions in Contecon Manzanillo S.A. (CMSA) in Mexico, key Philippine terminals, and ICTSI DR Congo S.A. (IDRC).
For the full year 2025, the Group’s capital expenditure is estimated at US$580 million and will focus on:
- Continued development of the new project in Batangas, Philippines.
- Phase 3B expansion at CMSA, Manzanillo, Mexico.
- Expansion of Manila International Container Terminal (MICT), Philippines, and IDRC, Matadi, DRC.
- New expansion projects at ICTSI Rio, Brazil, and Mindanao Container Terminal, Philippines.
Mr. Razon Jr. concluded, “As we continue to invest in strategic expansions and pursue new opportunities, we remain committed to driving sustainable growth and innovation throughout our global network. ICTSI is well-positioned to build on this momentum and deliver long-term value.”
