Asian Terminals Inc. said Friday net income fell by 57.5 percent in the first quarter amid the global economic slowdown triggered by the COVID-19 pandemic.
The port operator led by businessman Eusebio Tanco said it earned P472.5 million from January to March, down from P1.1 billion in the same period last year.
Revenues went down 28.9 percent in the first quarter to P2.6 billion from P3.6 billion in the same period last year on account of lower container volumes resulting from the negative impact of COVID-19.
Manila South Harbor handled over 250,000 TEUs (twenty-foot equivalent units) of international boxes while the Batangas Container Terminal handled over 61,000 TEUs, down by 20.8 percent and 18.8 percent, respectively as global and regional markets temporarily shuttered to mitigate the spread of the contagious virus.
ATI’s gateway ports remained operational 24/7, joining frontline industries and supporting government agencies in ensuring the unhampered flow of food, medicines, medical supplies, and other vital commodities in the supply-chain.
