Asian Terminals Inc. (ATI) saw a decline in its first-quarter net income mostly because of lower container volumes.
The company reported a 36-percent drop, with profit reaching P752.7 million from P1.76 billion in the same period last year as revenues in the first quarter declined 7.4 percent to P3.47 billion from P3.74 billion.
Earnings from South Harbor International containerized cargo and Batangas Container Terminal fell from last year by 5.1 percent and 20.3 percent, respectively, on account of lower container volumes.
Moreover, revenues from ATI Batangas were lower than last year by 6 percent on lower international RoRo volumes partly offset by higher number of passengers and domestic RoRo volume.
ATI budgeted P2.7 billion for 2024 capital expenditures, higher than P2.2 billion in 2023.
