Listed firm, Asian Terminal Inc. (ATI) said its net income in the first six months of this year reached P1.14 billion, driven by growth in containerized cargo in its Manila and Batangas ports.
The figure is 1 percent higher than the P1.13 billion the port operator earned during the same period last year.
ATI’s revenues for the first half of 2022 went up by 11.7 percent to P6.1 billion from P5.5 billion in the same period last year.
Revenues from South Harbor international containerized cargo increased from last year by 10.4 percent while revenues from ATI Batangas were higher than last year by 55.7 percent on account of higher Roll-on/Roll-off volumes and higher number of passengers.
ATI further said that government share in revenues for the first half of 2022 grew 17.9 percent to P1.1 billion from P941.8 million reported in the same period last year.
ATI has earmarked P17.5 billion for capital expenditure in the next five years that will be used to finance the continuous upgrade and construction of new facilities.
ATI said the capex was allocated for yard and berth development as well as construction of new facilities and equipment acquisition for 2022 to 2026.
For 2022, ATI said it is investing an estimated P5.43 billion in step with its growth strategy and in line with its investment commitment with the Philippine Ports Authority (PPA).
This will support the acquisition of more modern cargo handling equipment and the development of ports and logistics infrastructure across ATI’s sites.
The company plans to continuously enhance its gateway ports in Manila and Batangas this year “for containerized cargo, non-containerized cargo and passenger handling operations, upgrading their capacity, and technologies to support customer growth, in response to future market demand and contribute to the post pandemic recovery of the economy.”