ICTSI reported a revenue increase of 20% with a yield of 12.2 Mteu

ICTS Manila Foto ICTS
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The Manila-based ICTSI (International Container Terminal Services) port group reported gross revenue from port operations for 2022 of USD 2.24 billion, 20% more than in 2021.

The group attributed the gain to volume growth, higher prices, new shipping line contracts, higher revenue from ancillary services and profits from the newly consolidated Manila North Port (MNHPI) and new MHCPSI terminals in the Philippines, ICTSNL in Nigeria and IRB . Logistics in Brazil.

The consolidated yield reached 12.2 Mteu in the year, 9% more than the previous year. Excluding the effect of the MNHPI changes, the June 2022 shutdown of DIPSSCOR in Davao, Philippines, and the launch of ICTSNL, consolidated volumes would have increased 5%.

The group has earmarked USD 400M in capex by 2023 (2021: USD 386M) to cover terminal expansion in Australia, Mexico, the Philippines and the Democratic Republic of the Congo, in addition to the development of its new terminal in East Java, Indonesia. .

Group earnings before interest, tax, depreciation and amortization (EBITDA) increased 24% to $1.41bn and net income attributable to shareholders ended at $618m, up from $428m in 2021.

Source: Alphaliner

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