PSA International full-year net profit up 0.5% at S$1.1 billion on record throughput

[SINGAPORE] Temasek-owned port operator PSA International on Monday (Mar 9) posted a 0.5 per cent rise in net profit to nearly S$1.1 billion for the full year ended Dec 31, 2025, from about S$1.09 billion in the previous year.

The bottom-line improvement reversed from its earning slide in FY2024, where net profit fell 25.2 per cent on higher costs and inflation.

The slight increase in profit in 2025 was attributed to higher throughput from port operations. Revenue for the year rose 7 per cent to S$8.3 billion, compared with S$7.7 billion in 2024, driven by the group handling a record 105 million twenty-foot equivalent units (TEUs), a 5 per cent increase year on year. 

PSA Singapore contributed 44.5 million TEUs (up 8.7 per cent), and PSA terminals outside Singapore delivered 60.4 million TEUs (up 2 per cent).

Operating profit rose 19 per cent to S$1.4 billion from S$1.2 billion. 

However, the growth in revenue and operating profit was moderated by a 63.9 per cent increase in income tax expense and a non-cash impairment charge on intangible assets, the group said. This impairment was necessitated by a weaker economic and industry outlook relative to carrying value.

As at Dec 31, 2025, PSA’s balance sheet had a gross debt equity ratio of 0.53 times.

The group recorded a cash and bank balance of around S$5.2 billion.

“This breakthrough in throughput performance is a testament to PSA’s collective resolve and drive for operational excellence as the group navigated volatile global markets,” group chairman Peter Voser said.

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Group chief executive Ong Kim Pong noted: “In an increasingly fragmented global landscape, PSA remains steadfast in our role as a neutral terminal operator.”

He added: “By strengthening connectivity and coordination, we will continue integrating individual nodes into a network of port ecosystems driven by operational excellence to enable resilient supply chains and keep global trade flowing.”