ICTSI Q1 throughput nears 10 per cent increase

International Container Terminal Services, Inc. (ICTSI) has handled a container throughput of 3.1 million TEU in Q1 2023, 9 per cent more than the 2.8 million TEU handled in the same period in 2022.

The terminal operator also reported a gross revenue from port operations of $572.25 million for the first quarter.

This figure reflects an increase of 8 per cent from the $528.27 million in revenue reported last year.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) reached $354.20 million, 5 per cent higher than the $337.85 million generated in the first quarter of 2022.

ICTSI finally reported that net income attributable to equity holders reached $154.61 million, 9 per cent more than the $142.28 million earned in the same period last year.

READ: ICTSI records 44 per cent profit surge

Enrique K. Razon, Jr., ICTSI Chairman and President, said: “I am pleased to report on a strong first quarter of the year. […] These results have been driven by our diversified portfolio and continued focus on margins, and they have been achieved against a challenging macroeconomic and geopolitical backdrop.”

In February, ICTSI outlined a proposal for the expansion of the Victoria International Container Terminal (VICT), its wholly owned subsidiary in the Port of Melbourne, Australia.

More recently, the company announced it is adding another berth at the Manila International Container Terminal (MICT), the Philippines’ main gateway for international trade.