Asian Terminals Inc. (ATI) has reported first-quarter net income of P1.18 billion, up 95 percent from a year ago of only P601.9 million. The continued growth momentum was driven by trade volumes persistently moving towards pre-pandemic levels.
ATI’s revenue for the period reached P3.75 billion, higher by 29.4 percent from P2.90 billion last year on account of higher volume of international containers, car shipments, and passengers.
ATI’s gateway ports in Manila and Batangas handled consolidated container throughput of over 384,000 twenty-foot equivalent units (teu) during the period, or 19.8 percent more than a year ago.
From January to March, ATI’s flagship terminal Manila South Harbor handled over 100,000 teus of international boxed cargoes each month, a first since the pandemic.
ATI’s Batangas Port – a premier international car carrier terminal and the busiest interisland transit hub – similarly sustained its growth trajectory by handling over 57,000 units of imported completely-built cars and more than 580,000 passengers during the quarter.
This translates to volume growth of 5.5 percent for cars and 57.4 percent for passengers, compared to the same period last year.
To sustain the momentum and in preparation for future trade growth, ATI has set drawn a P5.2 billion capital investment plan for 2023 that involves the creation of additional berthing spaces and yard facilities, deployment of new cranes and eco-friendly equipment, reopening of the Manila cruise terminal, and the expansion of ports and logistics touchpoints in key markets.
The capex will also be used to finance innovations and technologies, in line with ATI’s long-term commitment to support the Philippine economy.
