Asian Terminals Inc. said Tuesday net income fell by 20.4 percent last year amid weak cargo volume brought about by global pandemic.
The port operator said net income amounted to P2.96 billion last year, down from P3.71 billion in 2019.
Revenues went down by 17.8 percent in 2020 to P10.96 billion from P13.33 billion it posted in 2019.
“The COVID-19 pandemic has impacted businesses and industries around the world at unprecedented proportions. But with discipline, teamwork and prudent cost management, ATI has remained resilient, keeping our gateway ports viable and operational 24/7 which in turn kept commodities and cargoes flowing especially during this pandemic,” ATI executive vice president William Khoury said.
Khoury said with the rollout of government’s inoculation program, the lifting of government restrictions and the calibrated opening up of the economy, “we are optimistic for a stronger year this 2021”.
Revenues from Manila South Harbor’s international containerized cargo operations and Batangas Container Terminal decreased by 16.9 percent and 20.2 percent, respectively on lower container volumes.
Container volumes at MSH and BCT declined by 20.4 percent and 19.7 percent, respectively.
ATI said that from July to December, the international gateway ports in Manila and Batangas handled over 700,000 TEUs (twenty-foot equivalent units) in consolidated container volume, up by 25 percent from the first half where volumes were heavily impacted by the trade slowdown and economic lockdowns locally and globally.
ATI said it closed the year with respectable volume of nearly 1.3 million TEUs.