The income of listed Philippine port operator Asian Terminals Inc. (ATI) declined 7% in 2015 to P1.767 billion from P1.901 billion in 2014.
Revenues also dropped 1.1% to P8.147 billion from P8.241 billion in 2014, ATI said in a disclosure to the Philippine Stock Exchange.
“With the soft market environment, revenues from Manila South Harbor international containerized cargo were lower than last year following lower container volume, which was down 1.3%,” ATI said.
On the other hand, due to volume growth, revenues from South Harbor’s international non-containerized cargo, and from the Batangas Container Terminal (BCT) and Port of Batangas were higher than last year’s by 14.7%, 57.5%, and 15.9%, respectively.
The volume of international containers handled at BCT likewise grew 35.2%, while volumes of international completely built units in Batangas rose 21.3%.
Of the total revenue for 2015, earnings from stevedoring services contributed the bulk, representing 39% of the total or P3.158 billion, 4.1% higher than the 2014 figure of P3.034 billion. Revenues from arrastre services also jumped 5% to P2.747 billion from P2.612 billion. However, the group’s logistics services posted a decrease in revenue of 6.1% to P143.318 million from P 152.623 million.
Special and other services generated P2.099 billion in sales, down 14% from P2.441 billion in 2014.
Foreign cargoes handled by the group accounted for 95% of total 2015 revenues, amounting to P7.753 billion, a slight 0.02% decline from P 7.755 billion in 2014.
Domestic cargoes contributed 5% or P393.588 million to the total, 19% lower than the P486.432 million recorded in the previous year.
Moving forward, ATI said it will “continuously optimize its ports in Manila and Batangas for containerized cargo, non-containerized cargo and passenger handling, keeping these vital gateway port facilities competitive (in catering) to customer needs and responsive to market demands.”
The company’s programmed capital investment for 2016 is P3.8 billion, in line with its investment commitment with the Philippine Ports Authority.
“The robust Batangas Port takes center stage this year as ATI positions it for future growth ahead for both the domestic passenger and roll-on/roll-off segments as well as the international container cargo business,” ATI noted.
It added that it keeps its eyes open for more business growth drivers, including exploring new port operations locally and overseas.
ATI operates Manila South Harbor, Port of Batangas (Phase 1), BCT, Batangas Supply Base, Inland Clearance Depot, and Makar Wharf in General Santos through South Cotabato Integrated Port Services Inc.
