Philippine port operator Asian Terminals, Inc (ATI) is injecting P1.4 billion for capital expenditures this year.
ATI said the investment, which will be sourced from internally-generated funds, will be spent mostly on the crane rail extension in Pier 3.
The South Harbor and Batangas Port operator said the planned investments will include upgrades and development in infrastructure as well as acquisitions, refurbishments of cargo-handling equipment as well as systems enhancements.
“Marketing initiatives will focus on developing the synergies within business units of the company in order to come up with value-added service enhancements to the clients such as inter-terminal transfers for domestic to foreign transshipment and vice versa, delivery by appointment, segregation of storage area for volume accounts and our recently opened back up off dock yard at Sta. Mesa which allows a strategic location for clients,” ATI said.
“With the ongoing expansion at our Terminal and additional equipment particularly the quay cranes, rubber-tired gantry cranes, and other yard handing equipment, the company will be in a stronger position to address the terminal-related logistics requirements of clients through the South Harbor, Batangas Port and Inland Clearance Depot at Laguna thereby improving our market share.”
Last year, ATI posted a net income of P1.520 billion, down 29.1% from the previous year’s P2.145 billion.
Revenues declined 3% to P4.390 billion from P4.526 billion in 2010. Lower volumes cut revenues derived from international non-containerized cargo business at South Harbor by 40.6% or P123.2 million, and at the Port of Batangas by 13.7% or P50.4 million.
On the other hand, revenues from the international containerized cargo business at the South Harbor grew P51.7 million or 1.5% due mainly to a 17% vessel-related handling rate increase. The first tranche of the increase representing 6% took effect November 18, 2011; the remaining 11% will be implemented on May 18, 2012.
Revenues from South Harbor domestic terminal operations increased P22.2 million or 6.5% due to greater container volume.
Cost and expenses amounted to P2.359 billion in 2011, slightly lower than P2.377 billion registered in 2010. Labor costs in 2011 were down 3.2% to P798.2 million from P825 million in 2010.
Other expenses totaled P113.2 million, down 39.3% from P186.5 million due to lower processing-related expenses such as brokerage, wharfage and office expenses.
Income before tax slid 2.9% to P2.137 billion in 2011 from P2.201 billion. Provision for income tax of P617.2 million in 2011 was 1.3% higher than P609.3 million in 2010.
Income from continuing operations amounting to P1.520 billion was lower by 4.5% from P1.592 billion.
Photo from www.asianterminals.com.ph
