EconomyEditor's PickHigher cargo, passenger volumes push ATI income close to P668M

November 13, 2022

LISTED port operator Asian Terminals, Inc. (ATI) saw its third-quarter attributable net income grow 77% to P667.6 million from P376.3 million in the same period a year earlier, primarily driven by higher cargo and passenger volumes.

In its latest quarterly report, the company said its revenues for the period reached P3.7 billion, up 32% from P2.8 billion in the same period last year. Expenses went up 21% to P2.3 billion from P1.9 billion previously.

The company operates the Manila South Harbor, Port of Batangas, Batangas Container Terminal, and off-dock yards in Sta. Mesa, Manila and Calamba, Laguna.

For the January-to-September period, the company saw its attributable net income rise 20% to P1.8 billion from P1.5 in the same period a year ago.

Revenues for the nine-month period reached P9.8 billion, up 20% from P8.2 billion previously. Total expenses increased 13% to P6.2 billion from P5.5 billion in 2021.

The company saw its revenues from international container operations in Manila and Batangas increase by 16.8% and 5.7%, respectively.

Revenues from non-container operations in Batangas were higher by 68.0% “on account of the strong influx of international rolling cargoes and the robust increase of passenger foot-traffic through the modern Batangas Passenger Terminal with the easing of Covid-19 travel restrictions,” ATI said.

The Batangas Port, a car carrier terminal, handled the “resurgent imports” of major car manufacturers and distributors, which reached nearly 170,000 completely built units, representing an 80% year-on-year growth, according to the company.

The company also said that the Batangas Passenger Terminal, a modern interisland transport hub, facilitated the transit of more than 1.6 million outbound passengers, 252% higher compared with the earlier year.

“ATI unveiled a bigger, better, and smarter Batangas Passenger Terminal in June equipped with world-class facilities such as an expansive and fully-airconditioned passenger lounge, orderly ticketing offices, clean and gender-neutral restrooms, provisions for free wi-fi and clean drinking water, and mobility features for the elderly and differently-abled, among others,” it added.

Meanwhile, the company’s Manila South Harbor and Batangas Port handled a consolidated volume of over one million teus or (twenty-foot equivalent units from January to September.

This reflects “modest growth with indicators of sustained volume acceleration into the Holiday season,” ATI said. — Arjay L. Balinbin

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartPeopleMail. All Rights Reserved.

Subscribe for FREE today and get your daily shot of smart news about the Economy and Investing.
We are dedicated to keeping any data we collect from you — safe and secure. Here you can read our privacy policy.