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Transportation

International Container Terminal Services, Inc.

  • 88.75 PHP
  • +3.35
  • +3.92%
  • Philippines
    Apr 25, 2018
  • Ticker
    PHS(ICT)
  • Prev. close
    85.40
  • Market cap (PHP)
    173,772.37M
  • Market cap (USD)
    3,320.03M
  • Shares
    2,034.80M

Company Background

Controlled by Filipino-Spanish businessman Enrique K. Razon, International Container Terminal Services is the Philippines' largest port operator. By the end of 2013, ICTSI was involved in 28 terminal concessions and port development projects in 20 countries. Specifically, these were 23 terminals in seven key ports in the Philippines, two in Indonesia and one each in Brazil, Brunei, China, Croatia, Ecuador, Georgia, Honduras, India, Japan, Madagascar, Mexico, Pakistan, Poland and the U.S.

In 2013, the company had port development projects in Colombia and Argentina; it had also secured three contracts to develop, manage and operate ports in Nigeria, Congo and another one in the Southern Philippine province of Davao. Company officials have said ICTSI would continue to scout projects abroad, especially in emerging markets like the Philippines.

The group prefers managing midsize ports, with total annual throughputs ranging from 50,000 to 2.5 million 20-foot equivalent units (TEUs). Razon, who started working in ports at the age of 18, inherited the business from his father, Enrique Razon Sr. The younger Razon also now controls Bloomberry Resorts, which operates a big casino near Manila Bay.

Business Summary

International Container Terminal Services, Inc. engages in developing, acquiring, owning, and operating common-user container terminals for cargo handling and services. It operates through the following geographical segments: Asia; Europe, Middle East and Africa (EMEA); and Americas. The Asia segment includes Manila International Container Terminal, Bauan Terminal, Bauan, Philippines, Sasa Wharf, Port of Davao and Makar Wharf, Port of General Santos, Philippines. The EMEA segment comprises of Baltic Container Terminal, Gdynia, Poland, Port of Batumi, Batumi, Georgia, Brajdica Container Terminal, Rijeka, Croatia, and Port of Toamasina, Toamasina, Madagascar. The Americas segment consists of Suape Container Terminal, Suape, Brazil, Port of Guayaquil, Guayaquil, Ecuador, Port of La Plata, Buenos Aires Province, Argentina, and Port of Manzanillo, Manzanillo, Mexico (CMSA) and Port of Tuxpan, Mexico. The company was founded on December 24, 1987 and is headquartered in Manila, Philippines.

Financial Highlights

Dec 2017 PHPUSD
Revenue68,062.22M1,350.04M
Gross Profit26,014.09M516.00M
Operating income20,190.97M400.49M
Income before tax12,516.11M248.26M
Net income7,086.39M140.56M
EBITDA28,918.64M573.61M
Diluted EPS3.470.06
Dividends Per Share2.500.04
Total Assets218,932.12M4,385.65M
Total liabilities162,774.29M3,260.70M
Total equity47,276.23M947.04M
Operating cash flow22,288.83M442.11M
Currency in PHPCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 41,800.73M 51,816.03M 53,155.33M 56,241.42M 68,062.22M
Gross Profit 16,030.34M 19,306.30M 19,941.20M 23,021.78M 26,014.09M
Operating income 11,805.97M 14,263.08M 14,646.12M 17,632.04M 20,190.97M
Income before tax 9,140.63M 10,989.87M 5,593.58M 12,206.25M 12,516.11M
Net income 6,076.00M 6,777.06M 982.08M 6,350.92M 7,086.39M
EBITDA 16,031.03M 19,664.56M 20,403.90M 24,635.64M 28,918.64M
Diluted EPS 3.01 3.32 0.50 3.08 3.47
Dividends Per Share 0.85 0.90 0.91 2.47 2.50
Total Assets 137,037.18M 152,124.96M 180,779.83M 207,967.48M 218,932.12M
Total liabilities 76,977.12M 85,730.06M 133,149.60M 157,214.41M 162,774.29M
Total equity 55,459.38M 58,869.85M 39,666.61M 42,927.08M 47,276.23M
Operating cash flow 9,878.60M 13,656.55M 13,469.93M 17,612.31M 22,288.83M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 984.25M 1,167.32M 1,167.40M 1,184.34M 1,350.04M
Gross Profit 377.45M 434.93M 437.95M 484.79M 516.00M
Operating income 277.98M 321.32M 321.65M 371.29M 400.49M
Income before tax 215.22M 247.58M 122.84M 257.04M 248.26M
Net income 143.06M 152.67M 21.56M 133.73M 140.56M
EBITDA 377.47M 443.00M 448.11M 518.78M 573.61M
Diluted EPS 0.07 0.07 0.01 0.06 0.06
Dividends Per Share 0.02 0.02 0.01 0.05 0.04
Total Assets 3,087.64M 3,400.77M 3,841.88M 4,183.40M 4,385.65M
Total liabilities 1,734.40M 1,916.50M 2,829.65M 3,162.47M 3,260.70M
Total equity 1,249.57M 1,316.04M 842.98M 863.50M 947.04M
Operating cash flow 232.60M 307.65M 295.82M 370.88M 442.11M

Valuation Measures

Dec 2017
PER30.32
ROA3.31%
ROE15.71%
Operating margin29.66%
Profit margin10.41%

Key executives

  • Chairman & President: Enrique Klar Razon
  • Chief Financial Officer & Senior Vice President: Rafael Jose dela Cruz Consing
  • Chief Information Officer: Hanna M. Lukosavich
  • Vice President-Audit & Compliance: Sandy A. Alipio
  • Executive Vice President: Martin Lynch O'Neil

Shareholders

  • Bravo International Port Holdings, Inc. (13.7%)
  • Capital Research & Management Co. (Global Investors) (6.4%)
  • RAZON ENRIQUE KLAR JR (4.0%)
  • Achillion Holdings, Inc. (3.9%)
  • The Vanguard Group, Inc. (1.8%)
  • Norges Bank Investment Management (1.2%)
  • Sureste Realty Corp. (1.1%)
  • A. Soriano Corp. (1.0%)
  • RAZON ENRIQUE (0.8%)
  • ICM Investment Management Ltd. (0.8%)

Contact Details

  • Website:http://www.ictsi.com
  • Address: 3F, ICTSI Administration Building, Manila Intl Container Terminal, Manila, 1012, Philippines
  • Phone: +63.2.245.4101

Related Companies

  • ICTSI Americas BV
  • Operadora Portuaria Centroamericana SA de CV
  • ICTSI Tuxpan BV
  • ICTSI Global Finance BV
  • ICTSI Oceania BV
  • Victoria International Container Terminal Ltd.
  • ICTSI Cooperatief U. A.
  • Abbotsford Holdings, Inc. (Philippines)
  • Hijo International Port Services, Inc.
  • Lekki International Container Terminal Services LFTZ
  • ICTSI Treasury BV
  • International Container Terminal Services (India) Pvt Ltd.
  • Batumi International Container Terminal LLC
  • ICTSI (M.E.) JLT
  • ICTSI Oregon, Inc.
  • ICTSI Subic, Inc.
  • ICTSI Mauritius Ltd.
  • Manila International Container Terminal
  • Pentland International Holdings Ltd.
  • ICTSI Poland Ltd.
  • Contecon Guayaquil SA
  • Madagascar International Container Terminal Services Ltd.
  • Australian International Container Terminals Ltd.
  • ICTSI Warehousing, Inc.
  • ICTSI Capital BV
  • Tecon Suape SA
  • International Ports of South America & Logistics SA
  • TecPlata SA
  • International Container Terminal Holdings, Inc.
  • Cordilla Properties Holdings, Inc.

Competitors

  • Asian Terminals, Inc.
  • DP World
  • Hutchison Port Holdings Trust
  • Puertos y Logistica S.A.
  • Global Ports Holding Plc
  • Sociedad Matriz Saam S.A.
  • Minera Valparaiso S.A.
Last Updated on 25 Apr, 2018

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