Manila South Harbor. Photo courtesy of Asian Terminals Inc.
  • Asian Terminals Inc.’s net income slipped 1.4% to P3.168 billion in the first three quarters of 2024
  • Revenue, on the other hand, grew 3.4% to P11.816 billion
  • Revenue from international containerized cargoes at Manila South Harbor jumped 11% on account of higher volumes and a 6% tariff increase that took effect on August 4
  • Revenues from Batangas Container Terminal and ATI Batangas were lower than last year by 24.7% and 10.3%, respectively, due to lower international container volumes and international Ro-Ro volumes

Asian Terminals Inc.’s (ATI) net income slipped 1.4% to P3.168 billion in the first three quarters of 2024 from P3.212 billion reported in the same period last year.

Revenue from January to September 2024, on the other hand, increased by 3.4% to P11.816 billion from P11.427 billion year-on-year, the port operator said in a regulatory disclosure.

Revenue from international containerized cargoes handled at Manila South Harbor grew 11% on account of higher volumes and a 6% tariff increase that took effect on August 4.

Revenue from Batangas Container Terminal and ATI Batangas were lower than last year by 24.7% and 10.3%, respectively, due to lower international container volumes and international roll-on/roll-off (Ro-Ro) volumes that were partially offset by higher number of passengers and domestic Ro-Ro volume.  

Cost and expenses in the first nine months of the year increased 5.7% to P5.161 billion while government share in revenues grew 9.4% to P2.132 billion as a result of higher revenues subject to port authorities’ share.

ATI earlier said it is investing a minimum of P2.7 billion in capital expenditures this year in line with its expansion strategy and long-term commitment with the ports authority.

READ: ATI earmarks P2.7B for 2024 capex

The 2024 capex will be used for the acquisition of more modern and greener equipment to boost the port operator’s its carbon reduction program, progression of auto-gate system, and execution of integrated logistics solutions leveraged on ATI’s port network.

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