For the second quarter of 2017 , consolidated EBITDA increased by five percent to US $ 142.7 million from US $ 135.5 million in the same period in 2016 . EBITDA margin , on the other hand , decreased to 47 percent in 2017 from 48 percent in 2016 .
TIM eMagazine Vol . 2 Issue 6 increased by five percent . For the quarter ended June 30 , 2017 , total consolidated throughput was three percent higher at 2,272,758 TEUs compared to 2,210,994 TEUs in 2016 .
Gross revenues from port operations for the first half of 2017 increased 10 percent to US $ 603.7 million from the US $ 550.8 million reported in the same period in 2016 . The increase in revenues was mainly due to volume growth , tariff rate adjustments at certain terminals , new contracts and services with shipping lines , and the contribution from the Company ’ s new terminals in Matadi , DRC and Melbourne , Australia .
Excluding the new terminal in DRC and Australia , consolidated gross revenues increased by five percent . For the second quarter of 2017 , gross revenues increased eight percent from US $ 284.3 million to US $ 306.5 million .
Consolidated cash operating expenses in the first half of 2017 was nine percent higher at US $ 221.7 million compared to US $ 204.2 million in the same period in 2016 . The increase in cash operating expenses was mainly due to the cost contribution of the new terminal operations in Matadi , DRC and Melbourne Australia ; higher throughput and increase in fuel prices and power rates at certain terminals ; and unfavorable translation impact of the BRL appreciation at Suape , Brazil . The increase was tapered by the additional benefits of the on-going group-wide cost optimization initiatives and the favorable translation impact of Philippine Peso and Mexican Peso expenses at the various terminals in the Philippines and in Manzanillo , Mexico , respectively . For the quarter ended June 30 , 2017 , total cash operating expenses of the Group increased by 15 percent to US $ 117.8 million from US $ 102.7 million in 2016 .
Consolidated EBITDA for the first half of 2017 increased 13 percent to US $ 289.7 million from US $ 257.5 million in 2016 mainly due to strong volume and revenue growth combined with the additional benefits of the on-going group-wide cost optimization initiatives and positive contribution of the new
For the second quarter of 2017 , consolidated EBITDA increased by five percent to US $ 142.7 million from US $ 135.5 million in the same period in 2016 . EBITDA margin , on the other hand , decreased to 47 percent in 2017 from 48 percent in 2016 .
terminal in Matadi , DRC tapered by start-up costs at Melbourne , Australia . Consequently , EBITDA margin improved to 48 percent in the first half of 2017 from 47 percent in the same period in 2016 .
For the second quarter of 2017 , consolidated EBITDA increased by five percent to US $ 142.7 million from US $ 135.5 million in the same period in 2016 . EBITDA margin , on the other hand , decreased to 47 percent in 2017 from 48 percent in 2016 .
Consolidated financing charges and other expenses for the first half increased 29 percent from US $ 45.9 million in 2016 to US $ 59.0 million in 2017 primarily due to higher average loan balance , lower capitalized borrowing cost on qualifying assets and the acceleration of the amortization of debt issue cost due to the termination of the Company ’ s revolving credit facility . For the second quarter , consolidated financing charges and other expenses increased 32 percent from US $ 24.9 million in 2016 to US $ 32.8 million in 2017 .
Capital expenditure for the first half of 2017 amounted to
US $ 71 million , approximately 30 percent of the US $ 240.0 million capital expenditure budget for the full year 2017 . The established budget is mainly allocated for the completion of the initial stage development of the Company ’ s greenfield projects in Democratic Republic of Congo and Iraq ; the second stage development of the Company ’ s project in Australia ; continuing development of the Company ’ s container terminals in Mexico and Honduras ; and capacity expansion in its terminal operations in Manila . In addition , ICTSI invested US $ 19.7 million in SPIA in Buenaventura , Colombia . The Company allocated approximately US $ 25.0 million for its share in 2017 to complete the initial phase and to finance the start-up operations of its joint venture container terminal project with PSA International .
ICTSI is widely acknowledged to be a leading global developer , manager and operator of container terminals in the 50,000 to 2.5 million TEU / year range . ICTSI has an experience record that spans five continents and continues to pursue container terminal opportunities around the world . ictsi . com
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