Better 2H volume cushions COVID-19 impact on ATI

March 30, 2021

Listed trade enabler Asian Terminals Inc. (ATI) handled higher cargo volumes during the second half of 2020 compared to the first half of the year amid signs of sustained trade recovery, cushioning the negative impact of COVID-19 on its bottom-line.

From July to December, ATI’s international gateway ports in Manila and Batangas handled over 700,000 teus (twenty-foot equivalent units) in consolidated container volume, 25% higher than the first half where volumes were heavily impacted by trade slowdown and economic lockdowns locally and globally due to the pandemic.

ATI closed the year with a respectable volume of nearly 1.3 million teus.

In related developments, ATI disclosed to the local bourse that its 2020 income reached Php2.96 billion, declining 20.4% compared to Php3.71 billion in 2019. Revenues stood at Php10.96 billion, 17.8% lower than the Php13.33 billion it posted in 2019.

ATI said that revenues from Manila South Harbor’s international containerized cargo operations and Batangas Container Terminal decreased by 16.9% and 20.2%, respectively, compared to 2019 on account of lower container volumes resulting from the negative economic impact of COVID-19. Container volumes at MSH and BCT declined by 20.4%and 19.7%, respectively.

“The COVID-19 pandemic has impacted businesses and industries around the world at unprecedented proportions. But with discipline, teamwork, and prudent cost management, ATI has remained resilient, keeping our gateway ports viable and operational 24/7 which in turn kept commodities and cargoes flowing especially during this pandemic,” ATI executive vice president William Khoury said.

“With the roll out of government’s inoculation program, the lifting of government restrictions and the calibrated opening up of the economy, we are optimistic for a stronger year this 2021,” Khoury added.