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Elijah Felice Rosales - The Philippine Star
August 7, 2025 | 12:00am
MANILA, Philippines — Logistics giant International Container Terminal Services Inc. (ICTSI) is sailing smoothly in the first half even as risks are troubling world trade, as it booked a 15-percent jump in its profit.
Based on its financial report, ICTSI’s net income rose to $483.84 million in the six months to June, from $420.55 million a year ago, as revenue grew quicker than expenses.
Revenue went up by 14 percent to $1.51 billion due to higher fees collected, growth in cargo volume and better ancillary performance.
ICTSI managed to pull off higher revenue in spite of currency depreciation in Mexican peso and Brazilian real. Further, the company spent on additional expenditures to cover its new operations in the Philippines.
By volume, ICTSI processed a consolidated throughput of 6.99 million twenty-foot equivalent units (TEUs) in the first half, up by 11 percent from a year ago’s 6.31 million TEUs. ICTSI is seeing trade volumes go up even as economies are dealing with higher tariffs imposed by the US.
Expenses increased, but by nine percent only, to $381.73 million, as ICTSI pursued cost-cutting measures to mitigate the impact of price hikes on finances.
ICTSI chairman and president Enrique Razon Jr. said the company would bank on its bread and butter, which is its diversified portfolio, in sustaining its growth momentum.
“We have seen significant growth both operationally, an 11-percent increase in our consolidated volume, and in the value we create for our shareholders, with a 17-percent increase in the diluted earnings per share, demonstrating the resilience of our business and success of growth strategy,” Razon said.
The tycoon told ICTSI shareholders that the company would accelerate its expansion mode in the second semester. Here, ICTSI is putting up in Batangas the Luzon International Container Terminal, set to become the second biggest of its kind in the country.
There are expansion works lined up, too, for terminals in Brazil, Democratic Republic of Congo and Mexico. In the Philippines, ICTSI is preparing for another expansion of its flagship Manila International Container Terminal.
ICTSI is ready to invest this year as much as $580 million for capital expenditures, of which 40 percent, or $231.98 million, has been used up as of June.
ICTSI is one of the world’s biggest port builders in the 50,000 to 3.5 million TEU per year range, with projects across six continents and more coming up.
