ICTSI reports 34% net income growth for H1 2024

International Container Terminal Services Inc. (ICTSI) reported a strong second-quarter performance with attributable net income increasing by 32.3% to $210.67 million, driven by higher container volumes and growth in ancillary services.

Revenue for the April-to-June period grew by 15.4% to $684.03 million, reflecting robust operations across Asia, the US, and EMEA (Europe, Middle East, and Africa).

ICTSI chairman Enrique Razon Jr. highlighted the company's sustainable growth strategy despite geopolitical uncertainties, emphasizing its diversified international portfolio.

For the first half of 2024, ICTSI’s attributable net income surged to $420.55 million, a 34% increase from the same period in 2023, with gross revenue reaching $1.32 billion.

The company continues to invest heavily in expanding its operations across six continents, including recent investments such as a $750 million loan deal signed with Metrobank.