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ATI revenues dip 30%; profit tumbles 57.5% to ₱472.5 M

By EMMIE V. ABADILLA

Asian Terminals, Inc. (ATI) revenues plunged 28.9% to ₱2.6 billion in the first quarter of 2020 as container volumes plummeted due to the negative economic impact of the COVID-19 pandemic.

ATI reported ₱472.5-million earnings, down 57.5% from ₱1.1 billion versus the same period last year.
During this first quarter, Manila South Harbor handled over 250,000 teus (twenty foot equivalent units) of international boxes down by 21 per cent.

Its Batangas Container Terminal handled over 61,000 teus, down by 18.8%, as global and regional markets temporarily shuttered to curb the spread of the virus.

Amidst the pandemic, ATI’s gateway ports remained operational 24/7, joining frontline industries and supporting government agencies in ensuring the unhampered flow of food, medicines, medical supplies and other vital commodities in the supply-chain.

While exercising prudent cost management, ATI also augmented its donations and community
investment programs to help mitigate the impact of COVID-19 to its surrounding communities, resulting in higher other expenses which increased by 5% to ₱60.7 million.

In line with its corporate sustainability program, ATI sent truckloads of rice and ready-to-eat canned goods through the social welfare unit of the City of Manila and distributed relief goods to surrounding port communities to help families remain afloat during the crisis.

ATI also made available its Passenger Terminal Building at Manila South Harbor’s Pier 15 as an added temporary COVID-19 quarantine facility for repatriated overseas workers in partnership with the Department of Transportation, Philippine Ports Authority, Philippine Coast Guard and other private sector donors. Pier 15 is also hosting two floating hospital vessels serving the same purpose.


Source: Manila Bulletin (https://business.mb.com.ph/2020/05/15/ati-revenues-dip-30-profit-tumbles-57-5-to-%e2%82%b1472-5-m/)

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