• Net income $1.05 billion, up 23 percent
• Recurring profit growth 26 percent excluding one-offs
• Container volume 14.5 million TEUs, up 11 percent
• Revenue $3.23 billion, up 18 percent
• Earnings before interest, taxes, depreciation and amortization (EBITDA) $2.14 billion, up 21 percent
Tycoon Enrique Razon Jr.’s International Container Terminal Services Inc. crossed the $1 billion profit mark in 2025, with net income rising 23 percent to $1.05 billion on stronger global cargo volumes.
Revenue climbed 18 percent to $3.23 billion, while container throughput rose 11 percent to 14.5 million twenty-foot equivalent units, reflecting improved trade activity across the company’s markets.
Management view
“We delivered another year of strong double digit growth across volume, revenues, EBITDA, and net income. 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,” said Razon, the chair and president of ICTSI.
Dividends raised by 26%
ICTSI’s board approved a regular cash dividend of P17.85 per share on March 4, 2026, payable to shareholders on record as of March 19, 2026 and scheduled for payment on March 27, 2026.
The dividend amounts to a total payout of about P36.07 billion based on 2,020,953,945 outstanding shares, up 26 percent from the P14.16 per share dividend declared last year.
Profit picture
Profitability strengthened as earnings before interest, taxes, depreciation and amortization increased 21 percent to $2.14 billion, lifting the EBITDA margin to 66 percent from 65 percent a year earlier.
Diluted earnings per share rose 25 percent to $0.51, from $0.407 in 2024.
Strip out one-off gains and the impact of new and discontinued terminals, and recurring net income would have climbed 26 percent, highlighting stronger underlying operations.
Growth drives
Revenue growth was supported by higher container volumes, improved cargo mix, tariff adjustments, and stronger ancillary services at several terminals.
Throughput reached 14,501,189 TEUs, up from 13,066,949 TEUs in 2024, with growth seen across regions and aided by the recovery of cargo flows in Guayaquil, Ecuador.
Foreign exchange movements, particularly the depreciation of the Mexican peso, Brazilian real, and Australian dollar, partly offset revenue gains.
Costs and spending
Cash operating expenses increased 11 percent to $807.08 million, mainly due to higher cargo volumes, expanded ancillary services, and mandated wage adjustments.
Capital expenditures reached $650.44 million in 2025, funding terminal expansions in Mexico, the Philippines, Brazil, and the Democratic Republic of Congo, equipment upgrades, and a new project in Batam, Indonesia.
—Edited by Miguel R. Camus
