Asian Terminals Inc. (ATI) posted a 2% increase in net income for 2024, reaching P4.52 billion, up from P4.43 billion the previous year. This growth was fueled by higher container volumes and the implementation of a 10% tariff hike in August 2024.
ATI revenue grew by 7 percent to P16.54 billion in 2024, compared to P15.45 billion in 2023. A key contributor to the increase was the 13.7 percent rise in revenue from South Harbor (SH), driven by both higher container volume and the tariff adjustment.
However, ATI’s performance across its terminals was mixed. Revenue from the Batangas Container Terminal (BCT) and ATI Batangas declined by 19.1 percent and 10 percent, respectively, due to lower international container and international RoRo (roll-on/roll-off) volumes. The declines were partially offset by an uptick in domestic RoRo and passenger volume.
ATI also reported an 11.2 percent increase in its port authorities’ share of revenue totaling P2.96 billion in 2024, compared to P2.66 billion in 2023.
The company’s costs and expenses rose by 6.7 percent, amounting to P7.07 billion in 2024. Labor costs were notably higher, increasing by 8.8 percent to P1.91 billion due to wage hikes and an expanded workforce.
In line with its growth strategy, ATI ramped up capital expenditures to P2.7 billion in 2024, up from P2.2 billion in 2023. This investment focuses on expanding port facilities, acquiring eco-friendly equipment, and enhancing digital infrastructure, including smart terminal systems and integrated logistics solutions. These initiatives aim to strengthen ATI’s position in the logistics and port operations sector while contributing to its carbon reduction goals.
The company’s results underscore its strategic focus on expanding capacity and modernizing infrastructure, ensuring continued growth despite mixed performance at certain terminals.
