International Container Terminal Services Inc. (ICTSI) has announced its financial results for the first half of 2022.
In the first six months of the year, ICTSI reported that its revenue from its global port operations reached US$1.06 billion, up 20% from the revenue in the first half of 2021.
Additionally, the company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) were US$672.1 million, 26% higher than the US$532.5 million generated in the same period last year.
For the second quarter of 2022, revenue from global port operations increased 20% climbing to US$534.6 million and EBITDA was 25% higher at US$334.3 million.
“We have delivered another period of strong operational and financial results across our global portfolio with throughput growth of five percent. Revenues grew by 20% to US$1.06 billion and EBITDA increased by 26% to US$672.1 million driven by volume growth, strong contribution from new terminals and an improvement in trade activities as economies recover from the impact of lockdown restrictions and the Covid-19 pandemic,” said Enrique K. Razon, Jr., ICTSI chairman and president.
“Despite these external challenges, we remain confident in driving growth across our global business and generating long-term sustainable value for the benefit of all our stakeholders,” he added.
