PHILIPPINE logistics giant, ICTSI, has reported consolidated volumes of 3,471,913 TEU equivalent across its terminal in the first quarter of 2025, a 12 percent jump from the same period in 2024.
According to the company, the growth was mainly due to the impact of “new services and improvements” in trade activities at certain terminals, volume recovery at Contecon Guayaquil S.A. (a terminal in Ecuador) and the contribution of Visayas Container Terminal (VCT) and the new terminal in Iloilo, Philippines.
These were said to have been partially offset by the deconsolidation of the terminal at OJA in Jakarta, Indonesia.
ICTSI chair and president, Enrique K. Razon Jr., said he was “pleased to report a strong start to the financial year”, delivering an increase in revenues of 17 percent to US$745.42 million and setting another record high net income of US$239.54 million, up 14 percent.
“Our international portfolio performed very well with consolidated volume up 12 percent, benefiting from our geographic diversification across 19 countries, which has enabled us to generate continued growth,” he said.
Mr Razon indicated they were well-positioned to ride out the Trumpian storm.
“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 owing to limited exposure to US trade,” he said.
“We look to the future with confidence, and with our highly disciplined business model and diversified operations, ICTSI remains resilient and in a strong position to continue to deliver financially and operationally for our stakeholders.”
The ICTSI estimated capital expenditure for 2025 is about US$580 million which is expected to be spent on key projects in the Philippines and Brazil.
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