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International Container Terminal Services, Inc. reported a 19% increase in net income attributable to equity holders of US$751.56 million in the first nine months of 2025
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Revenue from port operations during the nine-month period increased 16% to $2.34 billion mainly due to the tariff adjustments, volume growth with favorable container mix, and higher revenues from ancillary services at certain terminals
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ICTSI ports handled a consolidated volume of 10.687 million TEUs, up 11% from 9.604 million TEUs year on year
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Volume growth was mainly due to improvement in trade activities across all regions
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Capital expenditures during the first three quarters amounted to $449.61 million, mainly for ongoing expansions, equipment acquisitions and upgrades at certain terminals
International Container Terminal Services, Inc. (ICTSI) reported a net income attributable to equity holders of US$751.56 million in the first nine months of 2025, 19% higher than the $632.58 million earned in the same period last year.
Revenue from port operations during the first nine months of 2025 increased 16% year on year to $2.34 billion mainly due to the tariff adjustments, volume growth with favorable container mix, and higher revenues from ancillary services at certain terminals, including growth in general cargo activities, and volume recovery in its terminal in Guayaquil, Ecuador.
Consolidated net income likewise increased by 17.1% to $813.8 million while earnings before interest, taxes, depreciation and amortization grew 17% to $1.54 billion.
“ICTSI’s 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,” ICTSI chairman and president Enrique Razon Jr. said in an emailed statement.
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From January to September 2025, ICTSI ports handled a consolidated volume of 10.687 million twenty-foot equivalent units (TEUs), up 11% from the 9.604 million TEUs handled in the same period in 2024.
ICTSI said the volume growth was mainly due to improvement in trade activities across all regions.
For the third quarter of 2025 alone, total consolidated throughput was 12% higher at 3.698 million TEUs compared with 3.292 million TEUs year on year.
Razon said the volume growth alongside the increase in revenue from port operations “demonstrates the resilience of our business and operational excellence.”
“As we continue to invest in strategic expansions and pursue new opportunities across the Americas, Asia, and EMEA (Europe, Middle East, Africa), we remain committed to driving sustainable growth and innovation throughout our global network. Looking ahead, ICTSI is well-positioned to build on this momentum and deliver long-term value,” he added.
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The group’s consolidated cash operating expenses in the first nine months of 2025 were 11% higher at $585.96 million, mainly due to higher volumes, including increases related to the growth in revenue generating ancillary services and general cargo activities at certain terminals, and government-mandated and contracted salary rate adjustments.
Capital expenditures during the first nine months of the year amounted to $449.61 million.
These were mainly for the ongoing expansions at Contecon Manzanillo S.A. (CMSA) in Mexico, certain Philippine terminals, and ICTSI DR Congo S.A. (IDRC) in Democratic Republic of Congo; the upfront payment for Batu Ampar Container Terminal in Batam, Indonesia; and equipment acquisitions and upgrades at certain terminals.
The group’s estimated capital expenditures for 2025 is approximately $580 million, which will be utilized mainly for the continued development of the new project in Batangas, Philippines, phase 3B expansion in CMSA, Manzanillo, Mexico; expansion of Manila International Container Terminal, Philippines, and IDRC, Matadi, DRC; new expansion projects at ICTSI Rio in Brazil, and Mindanao Container Terminal in Cagayan de Oro, Philippines; various other equipment acquisitions and upgrades; and maintenance capex.
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