Resurgence of PHL car imports boosts ATI results in Q1

May 13, 2022

Listed trade enabler Asian Terminals Inc. (ATI) reported strong results for the first quarter of 2022 driven mainly by the resurgence of international roll-on/roll-off (RoRo) cargoes handled by its Batangas Port as well as the upward tariff adjustment approved earlier by the port authority.

In a regulatory disclosure, ATI said its revenues for the first quarter reached Php2.90billion, 6.5% higher from last year’s Php2.72 billion. Revenues from ATI Batangas increased by 37.8% on account of higher RoRo volumes while revenues from Manila South Harbor’s international containerized cargo operations increased by 7.8%.

ATI’s net income for the first three months stood at Php601.9 million, 6.9% higher than the Php562.9million it posted in the same period last year.

Batangas Port, which serves as the biggest car carrier port in the Philippines, handled over 54,000completely built car units (CBUs) from January to March, reflective of the industry’s strong rebound since the onset of the Covid-19 pandemic. This represents a 66% volume growth compared to the same period last year.

In 2021, Batangas Port handled over 136,000 CBUs, representing majority of vehicle imports nationwide. Batangas Port is the country’s premier gateway for CBUs, with leading and emerging car manufacturers and distributorships leveraging on the port’s capacity, industry-leading port inventory system, and direct connectivity to Visayas and Mindanao and other key markets. It has also attracted the interest of car transhippers in the region.

With its multilevel car storage facility, open storage spaces and back-up areas, Batangas Port can handle around 13,000 CBUs in any given time.

Meanwhile, in the containerized cargo segment, ATI’s Manila and Batangas container ports collectively handled over 310,000 teus (twenty-foot equivalent units) o finternational boxes during the quarter as the terminals kept trade flowing in support of the Philippine supply-chain.

ATI’s multilevel car storage facility with space for over 5,000 car units complements Batangas Port’s capacity to handle over 13,000 car units in any given time.