Trade recovery momentum lifts ATI Q3 results

November 16, 2020

Listed trade enabler Asian Terminals Inc. (ATI)registered better results during the third quarter reporting period as signs of trade recovery continued amid the COVID-19 global pandemic.

In a recent regulatory disclosure, ATI reported that its July to September income reached Php812 million, representing an increase of 14.8% compared to Php707 million during the same period in 2019. Revenues for the quarter stood at Php2.92 billion, 6.7% lower than the Php3.13 billion it posted for the third quarter of 2019.

From July to September, ATI’s international gateway ports in Manila and Batangas handled over 360,000 teus (twenty-foot equivalent units) in consolidated container volume, 39% higher than the second quarter where volumes were heavily impacted by trade slowdown and economic lockdowns locally and globally due to the pandemic. 

ATI’s third quarter volume translated to a monthly average of over 120,000 teus, bringing it closer to pre-pandemic levels.

For the nine-month period, ATI’s revenues reachedPhp7.97 billion while net income stood at Php1.96 billion, declining 21.6% and31.1%, respectively, compared to January to September 2019 figures on account of lower container volumes resulting from the negative economic impact ofCOVID-19.

“With the lifting of government restrictions and the calibrated opening up of the economy, we have seen an encouraging uptick in Philippine trade as reflected in the volumes we handled during the third quarter,” ATI executive vice president William Khoury said.

“Despite the global pandemic, we are optimistic of finishingthe year on a respectable note driven by our Company’s resilience as wecontinue fulfilling our important mandate of enabling trade in the Philippines,”Khoury added.