Listed trade enabler Asian Terminals Inc. (ATI) reported solid results for the first three months of the year driven by higher cargo volumes handled by its gateway container terminals in Manila and Batangas, reflective of the resilient growth of the Philippine economy.
In a disclosure to the local bourse, ATI said its revenues from January to March reached PHP4.74 billion, representing an increase of 36.5 percent from PHP3.47 billion last year. Net income for the period reached PHP1.40 billion, 86.6 percent higher than PHP752.7 million in the first quarter of 2024.
ATI attributed the increase to higher revenues from its robust international container operations in Manila South Harbor (MSH) and Batangas Container Terminal (BCT), which increased by 40.6 percent and 32.5 percent from last year, respectively.
Collectively, ATI’s Manila and Batangas ports handled over 430,000 teus (twenty-foot equivalent units) of boxed cargoes from January to March, nearly 26% higher than the same period last year. Notably, MSH on average handled over 117,000 teus in each month, setting a strong pace to start the year, a trend last seen prior to the pandemic.
Earlier in the month, ATI officially unveiled its recently completed projects under the MSH modernization program bankrolled by PHP5.7 billion in capital investment in line with its commitment with the port authority.
The modernization projects are bannered by its extended Pier 3 with two additional brand-new Ship-to-Shore (STS) cranes, effectively increasing MSH’s ship-side equipment fleet to 11 units, and the completion of additional container storage spaces.
In all, the recent development projects bring MSH’s annual throughput capacity to around two million teus, growing capacity by over 30 percent from 1.45 million teus, previously. This enables the terminal to accommodate more cargo volumes and bigger ships deployed by international carriers, providing faster and safer turnaround times to support the country’s international trade.
Department of Transportation Secretary Vince Dizon, His Excellency Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World – ATI’s strategic global partner, and Philippine Ports Authority General Manager Jay Santiago, along with major industry stakeholders, witnessed the milestone event.
