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ICTSI’s global reach makes it a defensive play
ICTSI outperformed the Philippine stock market on the back of strong earnings
By German de la Paz III and Charles Randy Lumhod
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Port operator International Container Terminal Services Inc. (ICTSI) stands out among publicly held Philippine companies.
Its global footprint amid trade rerouting and handling of essential cargo provide resilience while the Philippine equity market struggles to find its footing.
The port operator extended its record-breaking streak this third quarter, with recurring income up 26% year-on-year (YoY) and EBITDA higher by 22%.
Total volume handled also rose 12% YoY to 3.7 twenty-foot equivalent units (TEUs). A TEU is the standard measure for a ship or port’s cargo capacity and is based on a standard shipping container.
Strength in Americas and Asia
In terms of region, the Americas continued to drive momentum on the back of the continued recovery in its port in Ecuador and strong performance
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