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Manila Bulletin devider Business devider The Stock Market devider Port giant ICTSI posts 19% profit gain as global trade drives volume

Port giant ICTSI posts 19% profit gain as global trade drives volume

Published Nov 6, 2025 04:29 pm
Port operator International Container Terminal Services, Inc. (ICTSI) reported a 19 percent improvement in attributable net income to $751.56 million in the first nine months of the year from the $632.58 million earned in the same period of 2024 as global trade continues to grow despite US tariff issues.
In a disclosure to the Philippine Stock Exchange, the firm stated that profits were better primarily due to higher operating income, partially offset by the income from the settlement of legal claims at ICTSI Oregon in 2024.
Excluding the impact of non-recurring income and charges, and new operations in Iloilo, Philippines, and Batam, Indonesia, and discontinued operations in Jakarta, Indonesia, attributable net income would have grown 22 percent.
Unaudited consolidated revenue from port operations rose 16 percent to $2.34 billion from the $2.01 billion reported for the same nine-month period in 2024.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) amounted to $1.54 billion, 17 percent higher than the $1.32 billion generated in the same period last year.
“ICTSI’s excellent performance in the first nine months of 2025 is a testament to the strength of our global operations and the disciplined execution of our strategy,” said ICTSI Chairman and President Enrique K. Razon Jr.
He noted that, “We have delivered growth across all key metrics” the results “reflects our continued focus on prudent financial management and delivering value for our shareholders.”
“ICTSI’s diversified portfolio has enabled us to capture opportunities in dynamic markets, with consolidated volume up 11 percent to 10.69 million TEUs. This growth, alongside a 16 percent increase in revenue from port operations, demonstrates the resilience of our business and operational excellence.
“As we continue to invest in strategic expansions and pursue new opportunities across the Americas, Asia, and EMEA, we remain committed to driving sustainable growth and innovation throughout our global network. Looking ahead, ICTSI is well-positioned to build on this momentum and deliver long-term value,” Razon added.
ICTSI handled consolidated volume of 10,687,128 twenty-foot equivalent units (TEUs) in the first nine months of 2025, 11 percent higher than the 9,604,127 TEUs handled in the same period in 2024.
The volume growth was mainly due to improvement in trade activities across all regions. Excluding the impact of new operations in Iloilo, Philippines and Batam, Indonesia; and the discontinued operations in Jakarta, Indonesia, the Group's consolidated volume would still have been up 11 percent.
Gross revenues from port operations for the first nine months of 2025 grew 16 percent mainly due to the tariff adjustments, volume growth with favorable container mix, and higher revenues from ancillary services at certain terminals, including growth in general cargo activities, and volume recovery in Guayaquil, Ecuador.
This was partially reduced by unfavorable foreign exchange translation impact, mainly from the depreciation of Mexican Peso (MXN)-, and Brazilian Real (BRL)-based revenues.

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International Container Terminal Services Inc. (ICTSI) Enrique K. Razon Jr.
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