Port operator Asian Terminals Inc. on Friday reported net income rising 46.6 percent to P4.43 billion in 2023 from P3.02 billion in 2022.
The publicly-listed company also generated revenue amounting to P15.4 5billion last year, up by 13.4 percent from P13.2 billion the year prior.
Earnings from South Harbor international containerized cargo operations and from the Batangas Container Terminal increased by 12 percent and 38.1 percent, respectively, on account of higher container volume.
ATI’s cost and expenses during the year amounted to P6.62 billion, 7.3 percent higher than only P6.17 billion in 2022.
The port operator plans investing P2.7 billion this year, higher than capital expenditures of only P2.2 billion last year.
“The capital investment will support the expansion of seaside and landside facilities, acquisition of more modern and greener equipment to boost its carbon reduction program, progression of its auto- gate infrastructure and other smart TI systems, and execution of integrated logistics solutions leveraged on ATI’s port infrastructure,” ATI said.
“In line with its long-term sustainability, ATI explores new business growth drivers, including developing smart cargo storage spaces within and outside port zones, offering ancillary services anchored on its core competencies and exploring new port operations locally or overseas, given the right opportunity,” it said.
