ATI pushes profit up to P3 billion in 2022

MANILA, Philippines — Port operator Asian Terminals Inc. (ATI) loaded up its profit to more than P3 billion in 2022 on the back of increased returns from both its cargo and non-cargo segments.

In a regulatory filing, ATI said its net income jumped by over a third to P3.03 billion last year from P2.24 billion in 2021, as the firm benefited from the lifting of pandemic restrictions that allowed trade and travel to recover.

ATI said its revenue rose by 22 percent to P13.62 billion from P11.16 billion on an across-the-board growth in its cargo and non-cargo services.

Revenues from international container port operations in Manila and Batangas went up by 19 percent and 13 percent, respectively. The firm said the segment managed to expand due to increased volume of boxed cargoes facilitated in 2022.

ATI added that income from non-container port operations surged by 66 percent due to the record volume of international rolling cargoes it handled. Likewise, it gained from the spike in travelers transiting through its Batangas Passenger Terminal.

On a general scale, ATI handled more than 1.4 million twenty-foot equivalent units (TEUs) last year, up by five percent from 2021, as Manila South Harbor and the Port of Batangas sustained their rebound with trade returning to normalcy.

In 2022 as well, the Port of Batangas marked another milestone by facilitating a record 230,000 completely-built units (CBUs) of vehicles.

The figure exceeded by 73 percent the total number of CBUs handled by the port in 2021 and beat the previous all-time high of 201,000 CBUs in 2016.

Further, ATI served as an entry and exit point for over 2.2 million passengers in 2022 through its Batangas Passenger Terminal, the largest inter-island transport hub in the Philippines. Likewise, the port docked nearly 360,000 roll-on, roll-off vessels bound for domestic destinations.

Moving forward, ATI expects trade and travel to extend its upward trend for as long as pandemic restrictions are lifted. In return, the port operator, builder and developer committed to explore all opportunities to improve the operational flow in its terminals.

“ATI is very pleased to report solid results for the year amid macroeconomic headwinds, market uncertainties and the prevailing market conditions,” the company said.

“As a trade enabler, the company continuously provides bigger, better and modern integrated ports and logistics infrastructure alongside smart trade solutions to create greater value for our customers and support the long-term growth of the economy,” it added.