Chelsea Logistics swings to profit in Q2 2025 on strong revenue growth

Chelsea Logistics and Infrastructure Holdings Corporation has reported a significant financial turnaround for the first half of 2025, swinging to a net profit from a loss in the previous year, driven by a solid 17 per cent growth in revenues across most of its business segments. The Philippine-based shipping company's performance was bolstered by a rise in freight and passenger volumes.

For the six months ending June 30, the group posted revenues of PHP4.67 billion (approximately $79.4 million), a notable increase from the PHP3.98 billion recorded in the first half of 2024. This top-line growth was the primary driver behind a net profit of PHP231.4 million, a stark reversal from the PHP80.6 million loss reported in the corresponding period last year.

The company's outgoings increased but remained below the pace of revenue growth. Cost of sales and services rose by 13 per cent to PHP3.49 billion, while other operating expenses increased by 22 per cent to PHP523.5 million. Despite these increased costs, the company’s gross profit surged by 34 per cent.

The positive trend was particularly strong in the second quarter. For the three months to June 30, revenues grew by 17 per cent year-on-year to PHP2.57 billion. This contributed to a quarterly net profit that more than quadrupled, reaching PHP272.0 million compared to PHP67.5 million in the same period of 2024.

According to the company's management discussion, the growth was driven by a solid performance across most business segments. It noted that, "freight and passenger volumes rose, supported by improved pricing, while asset optimisation and vessel deployment to higher-yield routes helped mitigate vessel availability challenges."