Asian Terminals’ income soars 82% to P978M

Asian Terminals, Inc. (ATI) saw an 82.1% increase in its attributable net income to P977.92 million for the second quarter from P537.02 million a year ago, amid higher revenues.

From April to June, the company’s topline reached P3.7 billion, reflecting a 15.3% growth from the P3.21 billion booked in the same period last year.

Costs and expenses during the period reached P1.6 billion, a 10.5% increase from the P1.45 billion incurred last year. The figure does not include the government’s share in revenues, which was P627.91 million in the second quarter of this year.

ATI’s other expenses declined in the second quarter to P172.33 million, which is 62.3% lower than the P457.02 million booked a year ago.

For the first semester, ATI’s attributable net income reached P2.15 billion, reflecting an 89.2% jump from the P1.14 billion recorded last year.

Revenues from operations were also higher in the first six months of the year at P7.45 billion, 22% higher than the P6.10 billion booked in the same period of 2022.

ATI said that the rise was due to the increase in revenues from South Harbor international containerized cargo, Batangas Container Terminal and ATI Batangas.

ATI’s costs and expenses were P3.21 billion for the six months that ended in June. This showed a 13.3% rise from the P2.83 incurred in the previous year.

Meanwhile, the government’s share in revenues amounted to P1.28 billion from January to June, an increase of 15.5% from P1.11 billion last year.

Total other expenses were 83.4% lower at P106.61 million in the first half from P659.91 million in the corresponding period a year ago.

At the stock exchange on Monday, shares in ATI declined by six centavos to P14.44 apiece. — Justine Irish DP. Tabile