ICTSI profit surged 23% in 2025 on larger cargo volumes
International Container Terminal Services Inc. (ICTSI) saw its net income surge 23 percent to $1.05 billion in 2025, driven by higher cargo volumes and stronger revenues across its international terminal portfolio.
In a statement on Wednesday, the Enrique Razon Jr.-led global port operator said gross revenues from port operations jumped 18 percent to $3.23 billion from $2.74 billion in 2024, on the back of revitalized trade activity.
ICTSI handled 14.5 million twenty-foot equivalent units (TEUs) in 2025, up 11 percent from 13.07 million TEUs in 2024. This reflected improved trade across its markets, particularly in Guayaquil, Ecuador.
“ICTSI delivered another year of strong performance in 2025,” said Razon, chair and president of ICTSI.
“These results reflect the quality of our diversified global portfolio, resilience of demand across our markets, and the disciplined execution of our long-term strategy,” he added.
The company said revenue growth was also driven by a more favorable container mix, tariff adjustments and stronger income from ancillary services at several terminals.
However, the firm said these gains were partly tempered by unfavorable foreign exchange translation effects from the depreciation of the Mexican peso, Brazilian real and Australian dollar.
Operational profitability, as measured by earnings before interest, taxes, depreciation and amortization, climbed 21 percent to $2.14 billion.
Meanwhile, margins improved slightly to 66 percent from 65 percent a year earlier.
Consolidated cash operating expenses rose 11 percent to $807.08 million. This was mainly due to higher volumes, increased ancillary services and government-mandated salary adjustments and benefits.
Capital expenditures (capex) for 2025 reached $650.44 million. This was largely allocated to expansion projects in Mexico, the Philippines, Brazil and the Democratic Republic of Congo as well as a new container terminal project in Indonesia.
For 2026, ICTSI said it plans to increase capex by 13.77 percent to $740 million.
This amount would support expansion projects across its global network, including ongoing developments in Mexico, the Philippines, Brazil and DR Congo, as well as new projects in Honduras, Australia, Ecuador and Mexico.
“With a robust balance sheet, healthy pipeline of strategic expansions and deep bench of operational talent across our terminals, ICTSI is well positioned to continue executing our long-term strategy and create sustainable value for our shareholders,” Razon said.
ICTSI, the world’s largest independent ports operator, handles 34 container terminals in 20 countries across six continents. It is the most valuable company listed on the Philippine Stock Exchange.
