International Container Terminal Services, Inc. (ICTSI) announced its audited consolidated financial results for the full year 2025, overshooting performance expectations with a 23% increase in net income and an 18% jump in gross revenues.
The Group’s diversified global portfolio handled a consolidated volume of 14.5 million TEUs (Twenty-foot Equivalent Units), an 11% increase over 2024. This growth was fueled by a broad recovery in international trade, specifically highlighted by a strong rebound in Guayaquil, Ecuador.
| Metric | 2025 Result | vs. 2024 |
| Gross Revenues | US$3.23 Billion | ↑ 18% |
| EBITDA | US$2.14 Billion | ↑ 21% |
| Net Income (Attributable) | US$1.05 Billion | ↑ 23% |
| Consolidated Volume | 14.5 Million TEUs | ↑ 11% |
| Diluted Earnings Per Share | US$0.510 | ↑ 25% |
“ICTSI delivered another year of strong performance in 2025, marked by double-digit growth across volume, revenues, EBITDA, and net income,” said Enrique K. Razon Jr., ICTSI Chairman and President. “These results reflect the quality of our diversified global portfolio, the resilience of demand across our markets, and the disciplined execution of our long-term strategy.”
Razon emphasized the company’s “deep bench of operational talent” and “robust balance sheet” as the pillars that will allow ICTSI to capitalize on future market opportunities and maintain its track record of value creation.
The 18% increase in revenue to US$3.23 billion was supported by higher volumes, favorable container mixes, and strategic tariff adjustments. Growth was achieved despite unfavorable foreign exchange headwinds from the Mexican Peso, Brazilian Real, and Australian Dollar.
On the expense side, consolidated cash operating costs rose 11% to US$807.08 million. This was primarily due to the increased activity levels and government-mandated salary adjustments. However, the company successfully maintained its industry-leading EBITDA margin, which improved to 66%, up from 65% in the previous year.
ICTSI invested US$650.44 million in Capital Expenditures (CAPEX) during 2025. Key investment areas included:
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Philippines: Ongoing expansions at Manila International Container Terminal (MICT), Manila North Harbour, and the new South Luzon Container Terminal in Batangas.
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Americas: Expansion at Contecon Manzanillo (Mexico) and ICTSI Rio (Brazil).
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Africa & Asia: Continued development in DR Congo and the upfront payment for the Batu Ampar Container Terminal in Batam, Indonesia.
Moving into 2026, ICTSI remains committed to a “selective approach” to new projects while focusing on operational efficiency. With a healthy pipeline of strategic expansions and a commitment to financial discipline, the Group is well-positioned to continue delivering sustainable value to its shareholders.
