ICTSI’s Profit Rose 10 Percent in 2012

ICTSI’s Profit Rose 10 Percent in 2012

International Container Terminal Services reported its net income attributable to equity holders in 2012 was $143.2 million, rising 10 percent from $130.5 million in 2011.

Annual revenue from port operations increased 10 percent, too, from $664.8 million in 2011 to $729.3 million in 2012.

The port management company handled 5.63 million 20-foot-equivalent units for the year, up 8 percent from 5.23 million TEUs in the previous year. The increase in volume was mainly driven by gains in international and domestic trade; new shipping line customers and routes; containerization of breakbulk cargoes; the full-period contribution of the company’s new operations in Portland, Ore., and Rijeka, Croatia; and the consolidation of the volume generated by the company’s new terminal operations in Jakarta, Indonesia, and Karachi, Pakistan. Excluding the volume from the four recent port acquisitions, organic volume improved 4 percent year-over-year.

Volume from the group’s six key terminal operations in the Philippines, Brazil, Poland, Ecuador, Madagascar and China, which accounted for 73 percent of the group’s consolidated volume for 2012, rose 6 percent from 3.87 million TEUs to 4.11 million TEUs. Revenue contribution, which accounted for 83 percent of the group’s consolidated revenue in 2012, increased 7 percent from $565.6 million to $602.8 million.