International Container Terminal Services Inc. (ICTSI) said Thursday its net income rose 19 percent in the first nine months of the year on higher operating income and robust volume growth across its global network.
The port operator reported that net income amounted to $751.56 million in the January-to-September period, up from $632.58 million generated in the same period last year.
Gross revenues totaled $2.3 billion in the first nine months, a 16-percent increase from $2.01 billion in the same period last year.
Consolidated volume rose 11 percent to 10.69 million twenty-foot equivalent units (TEUs) from 9,604,127 TEUs handled in the comparable period of the prior year.
The volume growth was mainly due to improved trade activities across all regions. Excluding the impact of nonrecurring income and charges; new operations in Iloilo, Philippines and Batam, Indonesia; and discontinued operations in Jakarta, Indonesia, net income attributable to equity holders would have grown 22 percent.
ICTSI chairman and president Enrique Razon Jr. said diversified portfolio has enabled the company to capture opportunities in dynamic markets, with consolidated volume up 11 percent to 10.69 million TEUs.
“This growth, alongside a 16-percent increase in revenue from port operations, demonstrates the resilience of our business and operational excellence,” said Razon.
Razon said the company remains “committed to driving sustainable growth and innovation” while investing in strategic expansions across the Americas, Asia and EMEA.
Capital expenditures, excluding capitalized borrowing costs, amounted to $449.61 million in the first nine months of 2025.
These funds were mainly for ongoing expansions at Contecon Manzanillo S.A. (CMSA) in Mexico, certain Philippine terminals and ICTSI DR Congo S.A. (IDRC) in Democratic Republic of Congo; the upfront payment for Batu Ampar Container Terminal in Batam, Indonesia; and equipment acquisitions and upgrades at certain terminals.
The group’s estimated capital expenditures for 2025 is about $580 million. This will be utilized for the continued development of the new project in Batangas, phase 3B expansion in CMSA, Manzanillo, Mexico, expansion of MICT in Manila and IDRC, Matadi, DRC; new expansion projects at ICTSI Rio, Brazil and Mindanao Container Terminal in Cagayan de Oro; various other equipment acquisitions and upgrades; and maintenance capital expenditures.
ICTSI develops, manages and operates common user origin and destination container terminals serving the global container shipping industry across six continents.
