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The Philippine Ports Authority’s net income after tax reached P6.72 billion in the first half, 77.67% higher than the comparable figure in 2024 and 35.43% beyond the first-half target
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January to June revenues of P14.68 billion exceeded the target of P13.77 billion by 6.6%, on the back of increased vessel and cargo traffic, favorable movements in dollar-denominated tariffs, higher storage fees, and income from regulatory sources
The Philippine Ports Authority’s (PPA) net income after tax reached P6.72 billion in the first half of the year, 77.67% higher than the comparable figure in 2024 and 35.43% beyond the first-half target.
Before tax, net income from January to June surged 71.95% to P7.70 billion year-on-year, PPA said in a statement. This income was also higher than the target of P5.94 billion.
In terms of revenue, the agency exceeded its first-half target of P13.77 billion by 6.6% to P14.68 billion on increased vessel and cargo traffic, favorable movements in dollar-denominated tariffs, higher storage fees, and income from regulatory sources.
The latest revenue figure is also 13.7% higher than the P12.91 billion recorded year-on-year.
Regulatory income was the largest revenue contributor, accounting for 59.23% or P8.69 billion of the total, followed by service and business income and interest and other income.
PPA said strong profitability was supported by effective cost management, with total expenses at P6.98 billion or 10.84% below the budgeted amount and 17.23% lower year-on-year. The decrease in expenses was primarily attributed to reduced non-cash expenses.
From a long-term perspective, PPA said its financial performance demonstrated consistent growth.
Total revenues rose from P14.32 billion in 2016 to P27.64 billion in 2024, with regulatory income increasing from P6.82 billion in 2016 to P15.68 billion in 2024.
PPA said this steady rise “highlights the agency’s evolving role and its efforts to transform the Philippine port system into a more efficient and globally competitive sector.”
The ports authority said it is expanding, automating, and “regionalizing” its port systems and operations.
PPA said it is committed to “delivering better services, modernizing port infrastructure, and building a legacy in dividend contributions will certainly bring growth in the maritime sector in the country and across the world.”
PPA general manager Jay Daniel Santiago earlier said they were looking at earning P28.11 billion this year, higher than the P27.30 billion reported for 2024.
