Asian Terminals Inc. (ATI) said Wednesday its net income rose 2 percent in 2024 on higher container volumes and tariff increase.
The port operator said net income amounted to P4.52 billion last year, up from P4.43 billion in 2023.
It said revenues went up 7 percent to P16.54 billion last year from P15.45 billion in 2023.
“Revenues from South Harbor [SH] international containerized cargo increased from last year by 13.7 percent on account of higher container volumes and the 10 percent tariff increase effective Aug. 6, 2024,” ATI said.
“However, revenues from Batangas Container Terminal [BCT] and ATI Batangas were lower than last year by 19.1 percent and 10 percent, respectively, on account of lower international container volumes and lower international Roro volumes, respectively, which were partly offset by a higher number of passengers and domestic Roro volume,” it said.
Port authorities’ share in revenues in 2024 of P2.96 billion increased 11.2 percent from P2.66 billion in 2023 as a result of higher revenues subject to port authorities’ share.
Cost and expenses in 2024 amounted to P7.07 billion, or 6.7 percent higher than P6.628 billion in 2023.
The company’s labor costs in 2024 of P1.91 billion increased 8.8 percent from P1.75 billion in 2023 due to salary rate increases and additional headcount.
ATI said it invested P2.7 billion in capital expenditures in 2024, higher than P2.2 billion 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.
