Global growth lifts ICTSI Q1 profits

Buoyed by the strong performance of its international portfolio, the Razon-led global port operator International Container Terminal Services, Inc. (ICTSI) reported a double-digit increase in its first-quarter profit.

In a stock exchange report on Monday, ICTSI disclosed that it recorded a net income of $239.54 million from January to March, up 14 percent from $209.88 million during the same period last year.

Revenues from global port operations also grew 17 percent to $745.42 million, compared to $637.65 million in the same period of 2024.

ICTSI Chairman and President Enrique K. Razon, Jr. said the company benefited from its geographically diverse operations, which supported continued growth.

“Our balance sheet is robust, and cash generation has been strong, reinforcing our ability to invest and capitalize on growth opportunities. Looking ahead, we are mindful of the uncertainty over global trading arrangements and potential macroeconomic headwinds, but for ICTSI, the direct impact of announced tariffs is small due to limited exposure to US trade,” Razon said.

“We look to the future with confidence. With our highly disciplined business model and diversified operations, ICTSI remains resilient and in a strong position to continue delivering financially and operationally for our stakeholders,” he added.

ICTSI handled a consolidated volume of 3,471,913 twenty-foot equivalent units (TEUs) as of March, a 12 percent increase from 3,090,118 TEUs year-on-year.

Meanwhile, the company’s consolidated cash operating expenses in the first quarter rose 9 percent to $187.66 million, compared to $172.48 million in the previous year. The increase in expenses was primarily due to higher volumes, growth in revenue-generating ancillary services and general cargo activities at certain terminals, as well as government-mandated salary rate adjustments.

Operating terminals across six continents, ICTSI is a global developer, manager, and operator of container terminals with capacities ranging from 50,000 to 3.5 million TEUs per year.