INTERNATIONAL Container Terminal Services, Inc (ICTSI) has reported a 14 per cent increase in revenue from port operations to US $2.01 billion for the first nine months of 2024 from $1.76 billion reported for the same period in 2023.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.32 billion was 19 per cent higher than the $1.11 billion generated in the same period last year.
Net income attributable to equity holders amounted to $632.58 million, 31 per cent more than the $484.54 million earned in the first three quarters of 2023.
For the quarter ended September 30, 2024, revenue from port operations increased 16 per cent from $594.88 million to $691.70 million; EBITDA increased 19 per cent to $451.51 million from $377.85 million.
Net income attributable to equity holders was $212.03 million, 24 per cent higher than $170.74 million in the same period in 2023.
ictsi handled a consolidated volume of 9.6 million TEUs in the nine months of 2024, 2 per cent higher than the 9.45 million TEU handled in the same period in 2023.
The 2 per cent consolidated volume growth was mainly due to the impact of new services and improvement in trade activities at certain terminals, reported ICTSI, and the contribution of Visayas Container Terminal (VCT) in Iloilo, Philippines.
This was slightly offset by the decrease in volume at Contecon Guayaquil SA (CGSA) in Guayaquil Ecuador, the impact of the expiration of the concession contract at PICT in Karachi, Pakistan, and the deconsolidation of OJA in Jakarta, Indonesia.
For the quarter ended September 30, 2024, total consolidated throughput was 4 per cent higher at 3.29 million TEU compared to 3.17 million TEU in 2023, reports London's Port Technology International.
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Earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.32 billion was 19 per cent higher than the $1.11 billion generated in the same period last year.
Net income attributable to equity holders amounted to $632.58 million, 31 per cent more than the $484.54 million earned in the first three quarters of 2023.
For the quarter ended September 30, 2024, revenue from port operations increased 16 per cent from $594.88 million to $691.70 million; EBITDA increased 19 per cent to $451.51 million from $377.85 million.
Net income attributable to equity holders was $212.03 million, 24 per cent higher than $170.74 million in the same period in 2023.
ictsi handled a consolidated volume of 9.6 million TEUs in the nine months of 2024, 2 per cent higher than the 9.45 million TEU handled in the same period in 2023.
The 2 per cent consolidated volume growth was mainly due to the impact of new services and improvement in trade activities at certain terminals, reported ICTSI, and the contribution of Visayas Container Terminal (VCT) in Iloilo, Philippines.
This was slightly offset by the decrease in volume at Contecon Guayaquil SA (CGSA) in Guayaquil Ecuador, the impact of the expiration of the concession contract at PICT in Karachi, Pakistan, and the deconsolidation of OJA in Jakarta, Indonesia.
For the quarter ended September 30, 2024, total consolidated throughput was 4 per cent higher at 3.29 million TEU compared to 3.17 million TEU in 2023, reports London's Port Technology International.
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