ICTSI nets $261 million in Q1 2025

INTERNATIONAL Container Terminal Services Inc.'s (ICTSI) net income for the first quarter of 2025 climbed by 14 percent to $261.04 million from $229.78 million.

Revenue from port operations stood at $745.42 million, an increase of 17 percent from the $637.65 million driven by volume growth in the container sector, tariff adjustments, higher revenues from ancillary services, volume recovery at Contecon Guayaquil S.A. (CGSA), and growth in general cargo activities.

ICTSI said it handled a consolidated volume of 3,471,913 twenty-foot equivalent units (TEUs), 12-percenthigher than the 3,090,118 TEUs handled a year earlier.

Meanwhile, capital expenditures, excluding capitalized borrowing costs, amounted to $133.22 million.

These were mainly used for ongoing expansions at CMSA in Mexico; ICTSI DR Congo S.A. (IDRC) in the Democratic Republic of Congo; and equipment acquisitions and upgrades at some terminals in the country.

For 2025, ICTSI said that its capital expenditures amounting to $580 million will be utilized for the development of a new project in Batangas; Phase 3B expansion in CMSA; as well as the expansion of Manila International Container Terminal (MICT) and IDRC, Matadi, DRC; ICTSI Rio, Brazil and, Mindanao Container Terminal in Cagayan de Oro.

ICTSI Chairman and President Enrique Razon Jr. said that with the current trade environment, they will remain watchful and look for more opportunities.

"Looking ahead, we are mindful of the uncertainty over global trading arrangements and potential macroeconomic headwinds but for ICTSI, the direct impact of announced tariffs is small owing to limited exposure to US trade," Razon said.

"We look to the future with confidence, and with our highly disciplined business model and diversified operations, ICTSI remains resilient and in a strong position to continue to deliver financially and operationally for our shareholders," he added.

On Monday, ICTSI's share price fell by P5.00 to close at P353.40 each.