A good year for ICTSI so far
The Philippines-based International Container Terminal Services (ICTSI) has published its unaudited consolidated financial results from January to September 2022.
Revenues from port operations amounted to USD 1.64 billion, an uptick of 20% compared to 9M/2021 (USD 1.37 billion). Ebitda reached USD 1.04 billion, even 25% higher than the same period last year. Profit saw the highest rise by 47% to USD 465.1 million.
As to throughput, ICTSI handled a consolidated volume of 8,856,000 teu, also a rise by 7% (9M/2022: 8,266,621 TEU). The increase in volume was particularly due to the performance of Manila North Harbour Port and the International Container Terminal Services Nigeria Ltd (ICTSNL), the company’s new terminal in Port of Onne, Nigeria.
Investments were made to further ongoing expansion projects at Manila International Container Terminal (MICT) in the Philippines, VICT in Melbourne, Australia, ICTSI DR Congo (IDRC) in Matadi, Democratic Republic of Congo, Contecon Manzanillo SA (CMSA) in Manzanillo, Mexico, and the acquisition of land in the Philippines and in Brazil for new projects. (sh)