ATI nets Php1.18-B in Q1 on sustained trade growth

May 12, 2023

Building on last year’s strong economic rebound, listed trade enabler Asian Terminals Inc. (ATI) sustained its growth momentum into the first quarter of 2023 driven by continued recovery of trade volumes towards pre-pandemic levels.

In a regulatory disclosure, ATI reported that its revenues for the first quarter reachedPhp3.75 billion, representing an increase of 29.4% from Php2.90 billion last year on account of higher volumes of international containers, imported car shipment, and passengers.

Net income for the first three months almost doubled to Php1.18 billion from Php601.9 million, for an increase of 95.5%. 

ATI’s gateway ports in Manila and Batangas handled a consolidated container throughput of over 384,000teus (twenty-foot equivalent units) during the period, for a 19.8% year-on-year growth. From January to March, ATI’s flagship terminal Manila South Harbor handled a monthly average of over 100,000 teus of international boxed cargoes, a first since the pandemic.

ATI’s Batangas Port – the country’s premier international car carrier terminal and the busiest interisland transit hub – likewise sustained its growth trajectory, handling over 57,000 units of imported completely-built cars and more than 580,000 passengers during the first quarter, for a volume growth of 5.5% and 57.4%, respectively, compared to the same period last year.

Meanwhile, anchored on its commitment to deliver sustainable shareholder value, ATI announced the release of an aggregate cash dividend amounting to Php2.0-billion during its annual shareholders meeting held last month. ATI’s board of directors approved the release of regular cash dividends amounting to 88 cents per share, followed by a further 11.20 cents per share as special cash dividend, for a total ofPhp1.00 per share resulting from ATI’s robust performance in 2022. Dividend payout is scheduled on June 20, 2023.

To sustain its momentum and in preparation for future trade growth, ATI is allocating a minimum of Php5.2 billion in capital investment for 2023. This will bankroll the creation of additional berthing spaces and yard facilities, deployment of new cranes and eco-friendly equipment, reopening of the Manila cruise terminal, expansion of ports and logistics touchpoints in key markets, and the rollout of innovations and technologies, in line with ATI’s long-term commitment with the port authority and in support of the Philippine economy.