The robust increase in volume of cargoes at Batangas Port, considered the best alternative port in Southern Luzon, and foreign exchange gains boosted the full-year performance of Asian Terminals Inc (ATI), which ended 2014 with a net income of P1.90 billion.
“Revenues grew by 25.4 percent to P8.24 billion, from P6.57 billion the previous year due to the higher international containerized cargo volume in Batangas Container Terminal (BCT), the higher non-containerized volume handled in Port of Batangas and the higher revenues from Inland Clearance Depot,” ATI said.
Without the foreign exchange impact–as per accounting rules brought in from 2013–net income would have been P1.85 billion, up 17.8 percent from P1.57 billion in 2013 on a like-for-like basis.
In 2014, BCT handled a record-volume of over 98,000 TEUs (twenty-footer equivalent units) of international containers, increasing by over 750 percent from 2013.
The Batangas Port remained as South Luzon’s biggest passenger port and preferred gateway for imported completely built up car units, as well as bulk and break-bulk cargoes.
In a disclosure with the Philippine Stock Exchange on Wednesday, ATI said that it is sustaining its most aggressive capital investment program in over two decades, as it earmarks P2.8 billion for this year to continuously upgrade and expand its port facilities in support of the growing Philippine economy.
Sourced from internal funds, the planned capital expenditures will be used to acquire more container-handling equipment, upgrade port systems and technologies and develop new container storage areas within the Manila South Harbor expanded port zone and the Batangas Port.
ATI’s investments are aligned with its commitments with the Philippine Ports Authority.