International Container Terminal Services, Inc. · PSE:ICT
International Container Terminal Services — Q1 2025 Earnings Presentation
18 slides from International Container Terminal Services's earnings presentation, May 5, 2025
Slide 1: 1Q 2025 Investors' Briefing
1Q 2025 Investors’ Briefing May 5, 2025
Slide 2: 1Q 2025 Financial & Operational Highlights
1Q 2025 Financial & Operational Highlights VOLUME YIELD (1) REVENUE EBITDA NET INCOME(2) RECURRING NET INCOME(3) +12% +4% +17% +18% 14% +25% EBITDA margin Diluted EPS 66% 17% ▪ Globally diversified O&D portfolio supported another strong and resilient quarter ▪ Consolidated Volume continued to expand
Slide 3: Yearly and Quarterly Results
Yearly and Quarterly Results 1Q 2Q 3Q 4Q 1Q FY2021 FY2022 FY2023 FY2024 (In US$ million except Volume, 2024 2024 2024 2024 2025 Yield & EBITDA margin) Volume (in TEU ‘000) 11,163 12,216 12,749 13,067 3,090 3,222 3,292 3,463 3,472 Gross Revenues 1,865 2,243 2,388 2,740 638 684 692 726 745 Yield* (in
Slide 4: Agenda
Agenda Recent Financial Performance Liquidity and Capital Resources Questions and Answers Appendix
Slide 5: Recent Financial Performance
Recent Financial Performance
Slide 6: Consolidated P&L Highlights
Consolidated P&L Highlights (In US$ ‘000, except Volume and EPS) 1Q 2024 1Q 2025 % Change Volume (in TEU) 3,090,118 3,471,913 +12% Gross Revenues from Port Operations 637,648 745,420 +17% Cash Operating Expenses 172,479 187,660 +9% EBITDA 413,756 489,592 +18% EBITDA Margin 65% 66% Financing Charges
Slide 7: Recurring Net Income
Recurring Net Income 1Q 2024 1Q 2025 % Change (In US$ ‘000) Net Income Attributable to Equity Holders 209,880 239,536 +14% Non-recurring items: Less: Income from the settlement of legal claims at ICTSI Oregon (20,500) - Add: Impact of the sale of PT PBM Olah Jasa Andal (OJA) 1,640 - Recurring Net In
Slide 8: Volume and Revenue
Volume and Revenue Volume Gross Revenues (in ‘000 TEUs) (in US$ millions) 3,102 3,090 3,472 572 638 745 0% +12% +17% +26% 700 +6% 143 -14% 19% 20% 647 554 116 +24% 21% 18% 18% -5% 123 +14% 981 21% +3% 858 28% 282 835 38% 28% 27% 262 +8% 175 41% 31% +50% +7% +4% 1,620 1,678 1,791 52% +23% 320 52% 54%
Slide 9: Revenue / TEU Analysis
Revenue / TEU Analysis 1Q 2024 1Q 2025 % change Volume 3,090 3,472 +12% (TEUs ‘000) Revenues 620,980 724,687 +17% (US$ ‘000) Revenue / TEU 201 209 +4% (US$) 201 +19 +0.3 -12 209 Revenue/TEU, Organic New and Forex Revenue/TEU, Mar 2024 terminals Discontinued Mar 2025 terminals Note: Revenue per TEU e
Slide 10: Revenue / Ton Analysis
Revenue / Ton Analysis 1Q 2024 1Q 2025 % change Volume 2,232 2,904 +30% (Tons ‘000) Revenues 16,668 20,733 +24% (US$ ‘000) Revenue / Ton 7.5 7.1 -4% (US$) 7.5 -0.15 -0.18 7.1 Revenue/Ton, Organic terminals Forex Revenue/Ton, Mar 2024 Mar 2025 Note: Revenue per Ton includes predominantly non-containe
Slide 11: Capital Expenditure
Capital Expenditure 2025 Budget 1Q 2025 Actual 2025B CAPEX mainly for expansions at: US$58m 10% US$9m ▪ MICT ▪ CMSA. ▪ IDRC (ongoing (ongoing (new expansion) expansion) US$133 expansion) US$88 ▪ AGCT US$580 US$260m US$36m 23% (new 45% ▪ BCT expansion) US$262m ▪ Batangas terminal 45% ▪ ICTSI RIO ▪ MN
Slide 12: Liquidity and Capital Resources
Liquidity and Capital Resources
Slide 13: Balance Sheet Summary
Balance Sheet Summary Strong balance sheet with functional and reporting currency in USD Balance Sheet Highlights Debt Ratios (In US$ million) Dec 31, 2024 Mar 31, 2025 Dec 31, 2024 Mar 31, 2025 Total Assets 7,649 7,370 Gearing: Debt/SHE 1.39 1.51 Current Ratio: Total Liabilities 5,745 5,720 1.39 1.
Slide 14: Principal Redemption Profile
Principal Redemption Profile Proforma April 30, 2025 (In US$ million) Relationship Banks Bonds Perp 298 Perp NC26* 671 300 400 400 300 258 195 93 93 16 30 29 20 20 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Note: *Callable in 2026 with rate reset and 250–bp step–up in 2026 14
Slide 15: Cost of External Funding
Cost of External Funding 1Q 2024 1Q 2025 % Change (In US$’ 000) Financing Charges 47,141 42,453 -10% ▪ Interest Expense on Loans/Bonds 31,589 33,685 +7% ▪ Perpetual Securities distribution 7,257 3,725 -49% ▪ Amortization of Debt Issue Cost 4,020 2,638 -34% ▪ DST/WHT 4,275 2,405 -44% FY 2024 1Q 2024
Slide 16: Summary
Summary Strong performance underpinned by globally diversified and resilient O&D portfolio Yield improvement initiatives continue to enhance Revenue growth EBITDA and Net Income touched new highs Maintain capex discipline Strong balance sheet and cash flow supports expansions and acquisitions 16
Slide 17: Questions and Answers
Questions and Answers
Slide 18: Thank you!
» Thank you SALioRIS La
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