RAZON-LED International Container Terminal Services, Inc. (ICTSI) posted a 23% increase in attributable net income for 2025, reaching $1.05 billion on the back of upper cargo volumes across its port operations.
“ICTSI delivered one other yr of strong performance in 2025, marked by double-digit growth across volume, revenues, EBITDA (earnings before interest, taxes, depreciation, and amortization), and net income,” ICTSI Chairman and President Enrique K. Razon, Jr. said in a press release on Wednesday.
For 2025, the port operator’s gross revenue rose 17.88% to $3.23 billion from $2.74 billion within the comparable period a yr earlier.
Total expenses for the period reached $1.55 billion, up 8.39% from $1.43 billion in 2024.
“Our concentrate on operational efficiency, targeted capital allocation, and prudent financial management supported continued margin expansion and robust money generation. As we execute on strategic opportunities across our network and put money into recent projects, we remain committed to maintaining the financial discipline and selective approach which have underpinned our track record of value creation,” Mr. Razon said.
ICTSI said that, without factoring within the impact of non-recurring income and charges — including recent operations in Iloilo, Philippines; the discontinuation of operations in Jakarta in 2024; and recent operations in Batam, Indonesia, last yr — its attributable net income would have risen by 26%.
For 2025, Asia remained ICTSI’s growth driver, accounting for 41%, or $1.34 billion, of its total revenues for the yr.
Port operations within the Americas generated $1.31 billion, while Europe, the Middle East, and Africa (EMEA) operations contributed $590.55 million.
ICTSI said revenues from Asia were mainly driven by volume growth, favorable container mix, tariff adjustments, and better revenues from ancillary services. Many of the Philippine terminals contributed to the expansion for the period, the corporate said.
In 2025, ICTSI handled a complete of 14.50 million twenty-foot equivalent units (TEUs), marking an 11% increase from the 13.07 million TEUs in 2024.
Asian ports handled 7.73 million TEUs, up 8.8% from 7.11 million TEUs a yr earlier, while the Americas and EMEA handled 4.16 million TEUs and a pair of.61 million TEUs, respectively.
Capital expenditures, excluding capitalized borrowing costs, reached $650.44 million, ICTSI said, adding that funds were mainly allocated to ongoing expansions in Mexico, the Philippines, the Democratic Republic of Congo, and Brazil.
For 2026, ICTSI said it’s setting aside an estimated $740 million, mainly for the phase 3B expansion at Contecon Manzanillo S.A. in Mexico; expansions at Manila International Container Terminal, Mindanao Container Terminal, and South Luzon Container Terminal within the Philippines; upgrades at ICTSI Rio in Brazil; in addition to equipment acquisitions, upgrades, and maintenance.
ICTSI is a worldwide port operator. It owns and operates ports in 20 countries across Asia, the Americas, and EMEA.
On the local bourse on Wednesday, shares in ICTSI gained P6, or 0.85%, to finish at P715 each. — Ashley Erika O. Jose