The Philippine Ports Authority (PPA) recorded its highest income of P7.280 billion in 2019, 47% more than the P4.941-billion target for the year and 31% higher than the P5.553 billion earned in 2018.
PPA general manager Atty. Jay Daniel Santiago, in a statement, said the strong financial performance is due to various changes being implemented by the agency. “The changes range from manual to automated processes, installation of sophisticated, effective, and higher productivity port equipment, compliance with the world’s best port management practices, and most especially, the shift in the outlook of employees to public service with reliability, integrity, and accountability,” he said.
Port management offices (PMO) with positive performances in 2019 were Manila South Harbor, Batangas, Davao, Surigao, and Bataan/Aurora. PPA said the positive deviation came mainly from lay-up fees, roll-on/roll-off (Ro-Ro) fees, domestic dockage fee, pilotage, and the utilization of the vessel traffic monitoring system, among others.
Total revenues for 2019 increased 5% to P18.352 billion against the 2018 figure of P17.5 billion, and up 0.92% against the target.
Total expenses decreased 15.5% to P8.008 billion from P9.476 billion in 2018 due to significant decreases in repair and maintenance related to land improvement and other financial expenses.
Non-cash expenses also declined 15% to P2.727 billion following reduction in amortization of the agency’s intangible assets and other losses.
PPA said it will revisit its first-quarter performance targets in consideration of global concerns such as the continuing threat from the coronavirus disease; exit of Great Britain from the European Union; the West Philippine Sea issue; and safety and environmental concerns.
“Even with the continuing threat of global concerns, ‘business as usual’ is not an option but [by] reducing the risk of these threats coupled with management anchored on best practices and public-service committed government personnel, our gateways connecting to the tourism and trade centers of the world will remain competitive and responsive to any current global demands,” Santiago said.
