ICTSI’s unaudited consolidated financial results for Q1 port operations surged to US$209.3m, from the US$173.8m reported in the same period in 2012.
The increase was mainly due to higher storage revenues and ancillary services; favourable volume mix, tariff rate increases in certain key terminals, and the revenue contribution from the new terminals in Jakarta, Indonesia and Karachi, Pakistan.
ICTSI handled consolidated volume of 1,496,462 teu for the quarters, 12% more than the 1,338,316 teu handled in the same period in 2012.
The Group’s seven key terminal operations in Manila, Brazil, Poland, Ecuador, Madagascar, China and Pakistan accounted for 85% of the Group’s consolidated revenues in Q1 of 2013.
Consolidated Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) also increased by 27% to US$97.5m. Meanwhile, consolidated EBITDA margin increased to 47% in the first quarter of 2013.
The Group revealed that its capital expenditures for the first quarter of 2013 amounted to US$93m, around 17% of the US$550m capital expenditure budget for the full year in 2013.
ICTSI says the established budget is allocated for the completion of its terminal development projects in Argentina and Mexico and the boost of construction activated in Columbia and Davao, southern Philippines.