Asian Terminals Inc. (ATI) on Thursday reported an 18.2 percent decline in net income over six months this year to P1.76 billion compared to the same period in 2023.
The port terminal posted revenue totaling P7.4 billion during the period, up 0.2 percent from P7.44 billion last year.
Revenue from international containerized cargo at the South Harbor increased from last year by 6.4 percent on account of higher container volume.
This was in contrast to revenue generated by the Batangas Container Terminal (BCT) and ATI Batangas, which were lower than last year by 31.4 percent and 4.9 percent, respectively, on account of lower international container and roll-on roll-off volumes partially offset only by a higher number of passengers and domestic RORO volume.
As a result, the government received P1.31 billion as its share from port operations this year, higher by 2.4 percent from only P1.28 billion last year.
Cost and expenses for the period amounted to P3.32 billion, 3.7 percent higher than only P3.20 billion last year.
Depreciation and amortization in 2024 increased by 8 percent to P1.01 billion from P940.7 million in 2023. Labor costs of P962.7 million this year were up 9.2 percent compared to only P881.8 million last year due to a salary rate increase and additional headcount.
ATI also set aside P2.7 billion as capital expenditures this year, versus only P2.2 billion in 2023.
“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.
