ICTSI posts finalized results
Philippines-based International Container Terminal Services (ICTSI) has reported its consolidated financial results for 2017. Revenues from port operations rose by 10% to USD 1.24 billion (2016: USD 1.12 billion). Ebitda increased by the same percentage to USD 578 million (2016: USD 525.1 million).
2017's main drivers were, inter alia, the company’s new terminal in Matadi (DR Congo), strong operating results from the terminals in Iraq, Mexico, Honduras, Madagascar, China, Poland and Brazil and the gain related to the termination of the sub-concession agreement in Lagos (Nigeria).
In turn, startup costs at the company’s terminal in Melbourne (Australia), and an increase in the company’s share in the net loss at Sociedad Puerto Industrial Aguadulce (SPIA), its joint venture container terminal project with PSA International (PSA) in Buenaventura (Colombia), took their toll. (kd)