Asian Terminals Inc. said net income fell by 18.2 percent to P1.76 billion in the first six months of the year from P2.15 billion in the same period in 2023.
The port terminal recorded a total revenue of P7.4 billion in the January to June period, up slightly by 0.2 percent from P7.44 billion in the same period last year.
Revenues from South Harbor (SH) international containerized cargo increased from last year by 6.4 percent on account of higher container volumes.
However, revenues from Batangas Container Terminal (BCT) and ATI Batangas were lower than last year by 31.4 percent and 4.9 percent, respectively, on account of lower international container volumes and lower international Roro volumes, which were partly offset by a higher number of passengers and domestic Roro volume.
Government share in revenues for the first half of 2024 amounted to P1.31 billion, higher by 2.4 percent from P1.28 billion last year as a result of higher revenues subject to port authorities’ share.
Cost and expenses in the first six months of 2024 amounted to P3.32 billion, 3.7 percent higher than P3.20 billion in the same period last year.
Depreciation and amortization in 2024 increased by 8 percent to P1.01 billion from P940.7 million in 2024. Labor costs of P962.7 million this year were up by 9.2 percent compared to P881.8 million last year due to salary rate increase and additional headcount.
ATI has set aside P2.7 billion in capital expenditures this year, higher from P2.2 billion capex 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.
