ICTSI first quarter income rises over 25 percent

12 May 2011 - Port Planning

• ICTSI releases financial results for first quarter of 2011

• Company sees 28% rise in income to US$154.9 million

International Container Terminal Services, Inc. (ICTSI) yesterday reported consolidated unaudited financial results for the quarter ended 31 March 2011.

The company posted revenue from port operations of US$154.9 million, an increase of 28 percent over the $120.7million reported last year.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) amounted to $71.2 million, 26 percent higher than the $56.6 million generated in 2010. Net income attributable to equity holders was up 25 percent over the $22.8 million earned last year to $28.5 million.

ICTSI handled consolidated volume of 1,171,969 twenty foot equivalent units (TEUs) in the first quarter of 2011, 22 percent higher compared to the 962,028 TEUs handled in the same period in 2010.

Throughput from the company’s container terminal operations in Asia increased 13 percent to 687,196 TEUs in the first quarter of 2011 compared to 610,401 TEUs in 2010. 

Volume from the Group’s container terminal operations in the Americas grew 46 percent to 345,306 TEUs in 2011, from 236,588 TEUs handled in the same period in 2010. 

First quarter 2011 gross revenue from port operations increased 28 percent to US$154.9 million, from US$120.7 million reported in the same period in 2010. 

ICTSI is a leading port management company involved in the operations and development of 23 marine terminals and port projects in 17 countries worldwide.