The Manila-based global terminal operator ICTSI said Thursday it had operating profit of $225.8 million through the first three quarters of 2012, a 5 percent increase over the same period in 2011.
Revenue rose 7 percent to $524.7 million. Net income was up 4 percent year-on-year to $105.8 million. Container volume at ICTSI-operated facilities rose 6 percent to 4.1 million TEUs.
“The increase in volume was mainly due to the growth in international and domestic trade, new shipping line customers and routes, continuous containerization of breakbulk cargoes and the full period contribution of the company’s new ports in Portland and Rijeka, Croatia as well as the consolidation of the volume generated by the company’s new container terminal operations in Jakarta,” ICTSI said. “Excluding the volume from the three recent port acquisitions, organic volume growth was 4 percent.”
Volume from the company’s six key terminal operations in Manila, Brazil, Poland, Ecuador, Madagascar and China, which accounted for 74 percent of ICTSI’s consolidated volume for the first nine months of 2012, increased 7 percent to more than 3 million TEUs. Organic revenue growth was 5 percent.
ICTSI operates 25 marine terminals and port projects in 18 countries worldwide, with its flagship facility in Manila. - Eric Johnson