Special report: How rebuilding a port can help rebuild a country
ICTSI’s reconstruction of Iraq’s Basra port
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International Container Terminal Services, Inc. (ICTSI) reported audited consolidated financial results for the year ended 31 December 2017, posting revenue from port operations of US$1.244 billion, 10 percent higher compared to US$1.128 billion in 2016; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$578.0 million, 10 percent better than the US$525.1 million generated the previous year; and net income attributable to equity holders of US$182.1 million, up one percent compared to the US$180.0 million earned last year. Fully diluted earnings per share for the period was up six percent to US$0.069 from US$0.065 in 2016.
The increase in net income was mainly due to the continuing ramp-up at the company’s new terminal in Matadi, Democratic Republic of the Congo (DRC); strong operating results from the terminals in Iraq, Mexico, Honduras, Madagascar, China, Poland and Brazil; and the gain related to the termination of the sub-concession agreement in Lagos, Nigeria.
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