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ATI's 2020 earnings plunge 20% to P3 billion


Published March 9, 2021, 1:35 PM
The COVID19 pandemic resulted in lower container volumes, pulling down Asian Terminals Inc. (ATI)’s earnings by 20.4 percent, from P3.71 billion in 2019 to P2.96 billion last year.
Container volumes at the Manila South Harbor plunged 20.4 percent while those at the Batangas Container Terminal went down 19.7 percent, pulling down ATI’s revenues 17.8 percent, from P13.33 billion to P10.96 in the same period.
However, ATI handled the highest volume in its history in 2020, with 1.3 million twenty-foot equivalent units (TEUs) from 1.61 million TEUs the preceding year.
It was the higher cargo volumes during the second half of 2020 which cushioned the operator’s bottomline from the impact of the pandemic, executives maintained. ....

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