The increase was primarily due to volume growth and general improvement in trade activities as economies continue to recover from the impact of the Covid-19 pandemic and lockdown restrictions; and new shipping lines and services at certain terminals, said the company.
For the quarter ended 30 June 2022, total consolidated throughput was 6% higher at 2.92 teu compared to 2.75m teu in 2021.
Gross revenues from the company’s global port operations for the first half of 2022 increased by 20% to $1.06bn compared to the $882.6m reported in the same period in 2021.
Excluding the contribution of the new terminals in Philippines, Nigeria and Brazil, consolidated gross revenues from its global port operations would have increased by 17% in the first half of 2022. For the second quarter of 2022, gross revenues increased 20% from $447.0m to $534.6m.
"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 $1.06bn and EBITDA increased by 26% to $672.1m 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.
“Over the years, we have demonstrated our resilience and the benefits of having a clear strategic market position and a disciplined and purpose-led culture. Our talented team, expertise and experience remain key as we continue to navigate geopolitical and economic uncertainties. 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.
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