Razon-led International Container Terminal Services Inc. (ICTSI) is boosting its capital investment by 14 percent this year as it accelerates expansion across its global network from Mexico to the Philippines.

In a disclosure to the Philippine Stock Exchange, ICTSI said the company earmarked $740 million for capital expenditures in 2026, an increase from the $650.44 million allocated in 2025.

The company said its budget will focus on increasing capacity at its most active international and domestic hubs. A primary driver of the 2026 spending is the completion of the Phase 3B expansion at Contecon Manzanillo S.A. in Mexico, a critical gateway for the company’s Latin American trade.

The investment plan also signals a deepening commitment to the local maritime sector. ICTSI plans to fund ongoing developments at the Manila International Container Terminal, Manila North Harbour Port Inc., Mindanao Container Terminal, and South Luzon Container Terminal in Batangas.

Beyond the Philippines, the company is funneling capital into ICTSI Rio in Brazil and its operations in the Democratic Republic of Congo. The 2026 program further includes new expansion projects in Honduras, Australia, and Ecuador, alongside a fourth phase of development at its Mexican flagship in Manzanillo.

Razon, who serves as chairman and president, said the company is well-positioned to execute its long-term strategy through “healthy pipeline of strategic expansions” and robust balance sheet.

The aggressive spending follows a year of record financial performance. ICTSI reported that consolidated net income attributable to equity holders rose 23 percent to $1.05 billion in 2025 from $849.80 million the previous year.

The bottom line benefited from higher operating income, though growth was slightly moderated by a high base in 2024 that included one-off income from a legal settlement in Oregon.

Revenue from port operations climbed 18 percent to $3.23 billion in 2025, supported by an 11 percent increase in consolidated volume to 14.5 million twenty-foot equivalent units. The company attributed the growth to a broad recovery in global trade, particularly in Guayaquil, Ecuador.

While some earnings were clipped by the depreciation of the Mexican peso, Brazilian real, and Australian dollar against the greenback, Razon noted that disciplined execution and tariff adjustments helped maintain margin expansion.

The port giant continues to lean into its diversified portfolio to hedge against regional volatility. Excluding the impact of new and discontinued operations, including recent entries into Iloilo and Batam, recurring net income would have grown 26 percent.

Razon remains confident that the company's selective approach to new projects will continue to generate sustainable value for shareholders as the firm navigates shifting global supply chains.