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Asian Terminals reports P1-B earnings in H1, down 46.3%

Port operator Asian Terminals Inc.’s revenues for the first six months of 2020 plunged 28.2% to P5.05 billion as container volumes dropped in the economic slump accompanying the COVID-19 pandemic.

ATI’s earnings plummeted 46.3 per cent to P1.15 billion, from P2.14 billion in the same period last year.

However, the company sees signs of trade recovery past the second quarter. 

From January to June, Manila South Harbor handled nearly 460,000 teus (twenty-foot equivalent units) of international boxes.

Its Batangas Container Terminal handled over 113,000 teus, declining by an identical 29% compared to the same period last year as global and regional markets continued to reel from the impact of the pandemic.

On a positive note, the port operator has seen signs of trade recovery with its consolidated volume breaching the 100,000 teu-mark in June, representing a 22% volume increase from the month prior.

The trend was sustained in July with volume hitting nearly 117,000 teus, for a 16% month-on-month growth. 

ATI executive vice president William Khoury remains gung-ho.

 “Our company’s prudent cost management, the careful execution of day-to-day operations which is anchored on safety and efficiency, and our continuing investment on important port infrastructure projects will enable us to remain resilient amid these challenging times,” he maintained.

 “Through these initiatives, we will sustain the steady flow of trade and ensure the safe passage of people and cargoes through our gateway ports,” Khoury concluded.


Source: Manila Bulletin (https://mb.com.ph/2020/08/13/asian-terminals-reports-p1-b-earnings-in-h1-down-46-3/?utm_source=rss&utm_medium=rss&utm_campaign=asian-terminals-reports-p1-b-earnings-in-h1-down-46-3)

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