ICTSI reports strong 2025 results as volumes hit 14.5m TEUs

March 5, 2026

International Container Terminal Services, Inc. (ICTSI) has reported strong financial results for 2025, underpinned by higher volumes, improved margins and continued expansion across its global terminal portfolio.

The group posted revenues from port operations of $3.23 billion, up 18 per cent from $2.74 billion in 2024.

EBITDA rose 21 per cent to $2.14 billion, while net income attributable to equity holders increased 23 per cent to $1.05 billion, compared with $849.8 million a year earlier. Diluted earnings per share climbed 25 per cent to $0.510.

Consolidated throughput reached 14.5 million TEU in 2025, an 11 per cent increase from 13.1 million TEU in 2024, supported by stronger trade activity across all regions and a recovery in Guayaquil, Ecuador.

Excluding the impact of new and discontinued operations, volumes would still have risen by 10 per cent.

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ICTSI Chairman and President, Enrique K. Razon Jr., said: “Digit growth across volume, revenues, EBITDA, and net income. These results reflect the quality of our diversified global portfolio, resilience of demand across our markets, and the disciplined execution of our long-term strategy. The 11 per cent increase in consolidated volume underscores the strength of our customer relationships and the essential role our terminals play in the supply chains of their respective economies.

“Our focus on operational efficiency, targeted capital allocation, and prudent financial management supported continued margin expansion and strong cash generation.”

Gross revenues were driven primarily by higher volumes, improved container mix, tariff adjustments and stronger ancillary service revenues, partially offset by unfavourable foreign exchange impacts linked to the depreciation of the Mexican peso, Brazilian real and Australian dollar.

Cash operating expenses rose 11 per cent to $807.1 million, reflecting higher volumes, expanded ancillary services and salary adjustments, though partially mitigated by ongoing cost optimisation and favourable currency effects.

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Capital expenditure totalled $650.4 million in 2025, supporting major expansion works at terminals in Mexico, the Philippines, Brazil and the Democratic Republic of Congo (DRC), as well as equipment upgrades and the new Batu Ampar Container Terminal project in Batam, Indonesia.

Excluding the upfront Batam payment, organic capex reached $572.5 million.

For 2026, ICTSI expects capital expenditure of approximately $740 million, focused on expansion projects in Mexico, the Philippines, Brazil and the DRC, alongside new developments in Honduras, Australia and Ecuador.

ICTSI operates container terminals across six continents and continues to pursue new opportunities in the global ports sector.

In February, ICTSI, through its wholly owned subsidiary Victoria International Container Terminal Ltd., secured a 26-year extension to operate and manage the Webb Dock East terminal at the Port of Melbourne, extending the contract to 2066.