International Container Terminal Services (ICTSI) has reported its unaudited consolidated financial results for the first half of 2026.
ICTSI posted revenue from port operations of US$1.92 billion, an increase of 27 per cent from the US$1.51 billion reported for the same period in 2025. The group's gross operating profit in H1 2026 totalled US$1.23 billion, 24 per cent higher than the US$990.54 million generated in the same period last year.
Net income attributable to equity holders reached US$589.98 million, an increase of 22 per cent from the US$483.84 million earned in the same period last year driven primarily by higher operating income.
Excluding the nonrecurring charge from the sale of Yantai International Container Terminal (YICT) in Shandong Province, China, net income attributable to equity holders would have grown 25 per cent to US$604.69 million.
Diluted earnings per share increased 23 per cent to US$0.289 from US$0.235 in the same period in 2025.
For the quarter ended June 30, 2026, revenue from port operations increased 25 per cent from US$764.63 million to US$958.73 million; gross operating profit was 23 per cent higher at US$613.7 million from US$500.94 million; and net income attributable to equity holders was at US$296.41 million, 21 per cent more than the US$244.31 million in the same period in 2025.
Diluted earnings per share for the Q2 2025 and Q2 2026 was at US$0.119 and US$0.146, respectively.
Gross revenues from port operations for the first half of 2026 grew 27 per cent to US$1.92 billion from US$1.51 billion reported in the same period in 2025. ICTSI said this was mainly due to volume growth with favourable container mix, higher revenues from ancillary services at certain terminals and tariff adjustments; revenue contribution of Durban Gateway Terminal (South Africa) and Batu Ampar Container Terminal (Indonesia); and favourable foreign exchange translation impact mainly from the appreciation of Mexican peso-, Australian dollar-, and Brazilian real-based revenues.
This was partially offset by volume-driven decrease at Basra Gateway Terminal (Iraq), deconsolidation of YICT, and unfavourable translation impact mainly from the depreciation of Philippine peso-based revenues.
Excluding the impact of new and discontinued operations, the group’s consolidated gross revenues would have increased 18 per cent. For the quarter ended June 30, 2026, total consolidated revenue was 25 per cent higher at US$958.73 million compared to US$764.63 million in Q2 2025.
"ICTSI delivered a strong first half, with double-digit growth in volumes, revenues and earnings supported by contributions from recently added terminals and stable performance across our existing portfolio," Enrique K. Razon Jr., ICTSI Chairman and President, said. "Despite a more challenging operating backdrop in some markets during the period, our diversified footprint continued to provide resilience and support strong financial and operational performance."
Razon added that ICTSI remains focused on executing its expansion programme, integrating new operations, and maintaining financial discipline across the business.
"We continue to invest to strengthen capacity and service levels across our portfolio while supporting sustainable long-term growth."