Trade rebound drives ATI’s H1 revenues to Php5.47B
August 13, 2021
Listed trade enabler Asian Terminals Inc. (ATI) has seen indications of sustained trade recovery despite the Covid-19 pandemic, reporting resilient results in the first half of 2021 behind higher volumes handed by its international gateway ports in Manila and Batangas.
In a regulatory disclosure, ATI said its revenues for the first six months reached Php5.47billion, 8.2% higher than the Php5.05 billion it posted during the same period last year.
From January to June, Manila South Harbor and Batangas Container Terminal handled over 660,000 teus (twenty-foot equivalent units) of international containers, representing a consolidated volume growth of 17% compared to the first half of 2020.
Net income for the period, meanwhile, stood at Php1.13 billion, a slight 2% step back from last year due to volume-driven expenses, additional Covid-19 resiliency measures, and unfavorable foreign exchange.
“We are pleased to achieve robust results for the period even amid the unprecedented challenges of theCovid-19 global pandemic, reflecting the strength and resilience of our Company as a trade enabler built across 35 years of pioneering experience in the industry,” ATI executive vice president William Khoury said.
“We intend to sustain this momentum headed into the second half of the year by continuously working safely and efficiently in collaboration with our customers, dockworkers, port authorities and other stakeholders, following the stringent health and safety protocols prescribed by international and local Covid-19 experts,” Khoury added.
ATI earlier said that Manila South Harbor and Batangas Container Terminal remained business as usual 24/7, despite the heightened community quarantine status preemptively imposed by government to curb the recent spike of Covid-19 infections, to keep vital goods flowing and the supply-chain moving.
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