Asian Terminals Inc. said Monday net income grew 35.3 percent last year on the back of higher cargo and passenger volume handled by its ports in Manila and Batangas.
The port operator said it posted a net income of P3.03 billion in 2022, up from P2.24 billion in 2021, as revenues went up 22 percent to P13.62 billion from P11.16 billion.
Revenues from international container port operations in Manila and Batangas increased 19.2 percent and 12.7 percent, respectively, on account of higher boxed cargoes compared to the previous year.
It said revenues from non-container port operations in Batangas grew 65.9 percent, led by record volume of international rolling cargo and robust increase of passengers transiting through the modern Batangas Passenger Terminal.
ATI’s Manila South Harbor and Batangas Port handled over 1.4 million TEUs (twenty-foot equivalent units) in 2022, or 4.5 percent higher than in 2021.
It said that in the non-containerized segment, Batangas Port’s car carrier terminal set new operations milestone, as it ended the year handling over 230,000 completely-built car units, up by 73 percent from 2021 and eclipsing the previous record of 201,000 CBUs in 2016.
The Batangas Passenger Terminal, the country’s biggest and most modern interisland transport hub, facilitated the safe transit of over 2.2 million outbound passengers and nearly 360,000 domestic roll-on/roll-off vehicles, with the continued easing of travel restrictions.
“ATI is very pleased to report solid results for the year amid macroeconomic headwinds, market uncertainties and the prevailing pandemic conditions,” the company said.
“As a trade enabler, the company continuously provides bigger, better and modern integrated ports and logistics infrastructure alongside smart trade solutions to create greater value for customers and support the long-term growth of the economy,” it said.