ICTSI, NorthPort among Manila’s top taxpayers

The City of Manila has recognized global port operator International Container Terminal Services, Inc. (ICTSI) and subsidiary Manila North Harbour Port, Inc. (NorthPort) as among the city’s top business taxpayers for fiscal year 2018. ICTSI was named the city’s second highest business tax contributor, and sixth top real property taxpayer, while NorthPort landed second as the city’s top real property taxpayer.

ICTSI 1Q2019 Net Income Up 77% to US$72.4M; Ramp up of new ports contributing to volume growth

International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the quarter ended March 31, 2019 posting revenue from port operations of US$383.8 million, an increase of 18 percent over the US$325.4 million reported for the same period last year; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$222.5 million, 25 percent higher than the US$177.5 million generated in the first quarter of 2018; and net income attributable to equity holders of US$72.4 million, 77 percent more than the US$40.9 million earned in the same period last year due to the strong operating income highlighted by strong operational and financial performance at VICT in Melbourne, Australia, lower financing charges, and a significant improvement in the operations at Sociedad Puerto Industrial Aguadulce S.A. (SPIA), its joint venture container terminal project with PSA International Pte Ltd. (PSA) in Buenaventura, Colombia, which posted a lower net loss share of US$6.3 million compared to US$8.9 million in the same period in 2018 as the company continued to ramp-up container volume lifting SPIA’s EBITDA to positive level for the quarter.

ICTSI FY2018 Net Income Up 22% to US$221.5 Million

International Container Terminal Services, Inc. (ICTSI) is pleased to report audited consolidated financial results for the year ended December 31, 2018. - Consolidated volume higher by six percent to 9,736,621 twenty-foot equivalent units (TEUs) (FY2017: 9,153,458 TEUs) - Revenue from port operations increased 11 percent to US$1.4 billion (FY2017: US$1.2 billion) - Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) grew 11 percent to US$642.2 million (FY2017: US$578.0 million) - Net income attributable to equity holders up strongly by 22 percent to US$221.5 million (FY2017: US$182.1 million)

ICTSI names new APAC head

International Container Terminal Services, Inc. (ICTSI) has appointed Andrew Dawes as Senior Vice President and Regional Head of Asia Pacific, replacing Christian R. Gonzalez, who has been named Global Corporate Head.

Mr. Dawes will be directly responsible for the management and development of ICTSI’s Asia Pacific portfolio outside of the Philippines.