Asian Terminals Inc. said it is set to invest an estimated P2.7 billion in 2024, aligning with its growth strategy and commitment to the Philippine port authorities.
“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.
“In line with its long-term sustainability, ATI explores new business growth drivers, including developing smart cargo storage spaces within and outside port zones, offering ancillary services anchored on its core competencies and exploring new port operations locally or overseas, given the right opportunity,” it added.
In 2023, ATI invested a total of P2.2 billion capital expenditures in line with its investment commitment with the Philippine Ports Authority.
This includes the substantial completion of the Batangas Passenger Terminal Phase 2, expansion of existing port facilities, acquisition of additional modern equipment, implementation of smart IT systems as well as the construction of Cavite Barge Terminal which were completed in 2023.
The decrease in actual investment ni 2023 of P 2.2 billion versus plans for 2023 of P5.2 billion is mainly due to delay ni expansion projects such as Pier 3 Berth Extension (due to change in design) and delay ni acquisition of cargo handling equipment (due to delay in Pier 3 Berth Extension).
ATI’s net income amounted to P4.43 billion last year, up 46.6 percent from P3.02 billion in 2022.
The company’s revenues amounted to P15.4 5billion in 2023, up by 13.4 percent from P13.2 billion in 2022.
Earnings from South Harbor international containerized cargo and Batangas Container Terminal increased by 12 percent and 38.1 percent respectively on account of higher container volume.
ATI’s cost and expenses in 2023 amounted to P6.62 billion, 7.3 percent higher than P6.17 billion in 2022.
