Global port operator International Container Terminal Services Inc. (ICTSI) hauled in a record net income of $483.84 million in the first half, a 15 percent jump from a year ago on the back of stronger operating results.
Stripping out one-off items — including a legal settlement at ICTSI Oregon and the deconsolidation of an Indonesian unit — core earnings would have surged 20 percent. Diluted earnings per share climbed 17 percent to $0.235 from $0.200.
Revenue from port operations reached $1.51 billion, up 14 percent from $1.32 billion in the same period last year, while EBITDA increased 15 percent to $990.54 million from $864.99 million. EBITDA margin also improved to 66 percent from 65 percent.
Strong momentum
“We have continued our strong momentum, with ICTSI’s exceptional performance in the first half of 2025, underscoring the strength and agility of our diversified global operations,” ICTSI chairman and president Enrique K. Razon Jr. said.
“This achievement reflects our continued focus on operational excellence, strong balance sheet, strategic expansion and disciplined cost management,” he added.
ICTSI handled 6.99 million twenty-foot equivalent units in the first half, 11 percent more than the 6.31 million TEUs handled in the same period last year.
Volume growth was supported by improved trade activities across all regions.
Significant growth
“We have seen significant growth both operationally, an 11 percent increase in consolidated volume, and in the value we create for our shareholders, with a 17 percent increase in diluted earnings per share, demonstrating the resilience of our business and success of our growth strategy,” Razon said.
“As we invest in key terminals across the Americas, Asia and Africa, we remain committed to driving sustainable growth and innovation throughout our global portfolio,” he added.
Capex for expansions
Capital expenditures for the first half amounted to $231.98 million, mainly for expansions at terminals in Mexico, the Philippines, and the Democratic Republic of Congo.
ICTSI has budgeted approximately $580 million in capex for full-year 2025.
