ICTSI’s surging net income
In H1/2023, International Container Terminal Services (ICTSI) achieved a 7% rise in net income to USD 313.8 million. Throughput grew by 9% to 6.28 million teu, mainly due to MNHPI’s contribution and trade improvement.
Revenues increased by 10% to USD 1.16 billion, with ebitda reaching USD 728.9 million, an 8% increase. Diluted EPS grew by 9% to USD 0.147.
Chairman and president Enrique K. Razon attributes the company’s success to a diverse portfolio and operational efficiency.
Despite uncertainties, ICTSI maintains resilience and plans to invest USD 400 million in terminals globally for the year, which will be used to expand and improve productivity and efficiency at facilities in Australia, Mexico, the Philippines, the Democratic Republic of the Congo and Nigeria. (pb)