International Container Terminal Services Inc. (ICTSI) grew its profit by 50 percent to $294.5 million in the first half of the year from $196.7 million in the same period last year.
Revenues rose 20 percent to $1.06 billion from $882.6 million reported in 2021.
Volume wise, the company’s operations in various container terminals around the world handled 5 percent more at 5,752,582 twenty-foot equivalent units (TEUs) compared to 5,459,523 TEUs last year.
The company said this shows that “economies continue to recover from the impact of the COVID-19 pandemic and lockdown restrictions.”
Earnings before interest, taxes, depreciation and amortization (EBITDA) grew 26 percent to $672.1 million from $532.5 million generated last year.
“We have delivered another period of strong operational and financial results across our global portfolio. Over the years, we have demonstrated our resilience and the benefits of having a clear strategic market position and a disciplined and purpose-led culture. Our talented team, expertise and experience remain key as we continue to navigate geopolitical and economic uncertainties. Despite these external challenges, we remain confident in driving growth across our global business and generating long-term sustainable value for the benefit of all our stakeholders,” said Enrique K. Razon, Jr., ICTSI chairman.
