International Container Terminal Service has reported revenue from port operations in Q2 2023 of US$1.16 billion, an increase of 10% compared to the first six months of 2022.
EBITDA was up 8% at US$728.88 million and net income attributable to equity holders rose 7% to US$313.80 million, primarily owing to higher operating income and interest income, and lower Covid-19 related expenses.
Throughput grew 9% to 6.28 million teu with organic volume up 1%. Diluted earnings per share increased 9% to US$0.147.
Enrique K. Razon, ICTSI chairman and president said: “ICTSI’s diversified portfolio, operational discipline and the determined focus from our fantastic team around the world has enabled us to deliver another strong financial performance.”
“We have a robust balance sheet and a highly cash generative business which looking ahead, will enable us to continue our strong track record of investing in our terminals to support future growth for the benefit of all our stakeholders.
“Our estimated capital expenditure is US$400 million for the year which will be used to expand and improve productivity and efficiency at terminals including Australia, Mexico, Philippines, Democratic Republic of Congo and Nigeria.
“The macroeconomic and geopolitical climate continues to be uncertain but these results give us continued confidence in our financial and operational resilience.
“The opportunities for future growth are considerable and we will work closely with our stakeholders to achieve positive change for the communities in which we operate and deliver long-term sustainable growth.”
