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International Container Terminal Services, Inc. reported an attributable net income of US$1.05 billion in 2025, up 23% year on year
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Consolidated gross revenue from port operations rose 18% to $3.23 billion mainly due to volume growth, tariff adjustments, and higher revenues from ancillary services at certain terminals
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Consolidated volume in 2025 grew 11% to 14.501 million TEUs due to improvement in trade activities across regions
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ICTSI chairman and president Enrique K. Razon, Jr. said the group’s results “reflect the quality of our diversified global portfolio, resilience of demand across our markets, and the disciplined execution of our long-term strategy”
International Container Terminal Services, Inc. (ICTSI) reported a net income attributable to equity holders of US$1.05 billion in 2025, up 23% year on year as its terminals handled 11% more containers.
Consolidated gross revenue from port operations reached $3.23 billion last year, 18% higher than the $2.74 billion reported in 2024 mainly due to volume growth, tariff adjustments, and higher revenues from ancillary services at certain terminals.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) likewise grew 21% year-on-year to $2.14 billion.
Consolidated net income increased by 20.4% to $1.127 billion in 2025 from $935.8 million in 2024.
“These results reflect the quality of our diversified global portfolio, resilience of demand across our markets, and the disciplined execution of our long-term strategy,” ICTSI chairman and president Enrique K. Razon, Jr. said in a statement.
“Our focus on operational efficiency, targeted capital allocation, and prudent financial management supported continued margin expansion and strong cash generation. As we execute on strategic opportunities across our network and invest in new projects, we remain committed to maintaining the financial discipline and selective approach that have underpinned our track record of value creation,” he said.
READ: ICTSI reports all-time high net income of $849.8M in 2024
ICTSI handled a consolidated volume of 14.501 million twenty-foot equivalent units (TEUs) in 2025, an 11% increase from the 13.067 million TEUs recorded in 2024.
The volume growth was due to improvement in trade activities across all regions, particularly the recovery in Guayaquil, Ecuador.
Excluding the impact of new and discontinued operations, the group’s consolidated volume would still have been up 10%, ICTSI noted.
Of the total volume, Asia terminals accounted for 7.73 million TEUs, up 8.8% from 7.107 million TEUs in 2024.
Containers handled in its terminals in the Americas also grew 18.9% to 4.158 million TEUs while terminals in Europe, the Middle East, and Africa handled 6.1% more at 2.613 million TEUs.
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Consolidated cash operating expenses in 2025 were 11% higher at $807.08 million, mainly due to higher volume, including increases related to the growth in revenue generating ancillary services at certain terminals, as well as increases in government-mandated and contracted salary rate adjustments and benefits.
Capital expenditures in 2025 amounted to $650.44 million, mainly utilized for the ongoing expansions at its terminals in Mexico, the Philippines, Democratic Republic of the Congo, and Brazil; the new project at South Luzon Container Terminal (SLCT) in Batangas, Philippines; equipment acquisitions and upgrades at certain terminals; and the upfront payment for Batu Ampar Container Terminal (BACT) in Batam, Indonesia.
For 2026, the group’s estimated capital expenditure is $740 million, which will be utilized mainly for the completion of phase 3B expansion at Contecon Manzanillo S.A. (CMSA) in Mexico; ongoing expansions at Manila International Container Terminal, Manila North Harbour Port Inc., Mindanao Container Terminal, SLCT, ICTSI Rio in Brazil, and ICTSI DR Congo SA; various other equipment acquisitions and upgrades; and maintenance capex; plus four new expansion projects at Operadora Portuaria Centroamericana, SA de CV in Honduras, Victoria International Container Terminal Ltd. in Australia, Contecon Guayaquil S.A. in Ecuador, and phase 4 at CMSA.
READ: ICTSI eyes South Luzon Container Terminal operations by 2028
“Looking ahead, we remain confident that we can capitalize on the opportunities across our markets. With a robust balance sheet, healthy pipeline of strategic expansions and deep bench of operational talent across our terminals, ICTSI is well positioned to continue executing our long-term strategy and create sustainable value for our shareholders,” Razon said.
ICTSI is currently involved in 34 terminal operations, including concessions and port development projects in 20 countries worldwide.
