Chelsea trims Q3 net loss on cargo, passenger volumes

CHELSEA Logistics and Infrastructure Holdings Corp. narrowed its attributable net loss for the third quarter to P76.03 million, supported by a sustained recovery in cargo and passenger volumes.

For the three months ending September, the listed logistics and shipping firm reduced its net loss by 70.69% from P259.39 million in the same period last year.

The company reported gross revenues of P2.21 billion, up 9.95% from P2.01 billion a year ago.

“This period’s performance reflects the resilience and agility of our organization. Supported by our dedicated employees, we’ve not only rebounded from last year’s challenges but have laid a stronger foundation for sustainable growth,” Chelsea Logistics President and Chief Executive Officer Chryss Alfonsus V. Damuy said in a media release on Tuesday.

For the nine months ending September, Chelsea Logistics posted an attributable net income of P155.33 million, reversing a P340.02 million net loss a year earlier.

Despite a 10.18% rise in gross expenses to P6.06 billion from P5.50 billion, combined revenues for the nine-month period grew 14.86% to P6.88 billion from P5.99 billion previously.

“This period’s financial turnaround underscores our disciplined approach to cost management and strategic asset utilization. By maintaining stable operating expenses and executing a successful loan restructuring that lowered finance costs, we’ve fundamentally strengthened our bottom line,” Chelsea Logistics Chief Financial Officer Darlene S. Agus-Binay said.

The company attributed its growth to strong performance across its freight, chartering, logistics, and food-and-beverage segments.

Segment-wise, freight revenues rose 12.59% to P3.13 billion from P2.78 billion, while the passenger segment posted P2.06 billion, charter fees reached P685.18 million, tugboat fees amounted to P261.67 million, and other services generated P484.39 million.

Chelsea Logistics said the growth was fueled by sustained recovery in cargo and passenger volumes, increased vessel deployment, and disciplined cost management and asset utilization.

“Our year-to-date September 2025 performance highlights not only consistent revenue growth but also our commitment to capital efficiency, laying the foundation for sustainable, long-term profitability,” Ms. Agus-Binay added.

At the Philippine Stock Exchange on Tuesday, Chelsea Logistics shares rose P0.07, or 7.53%, to close at P1 apiece. — Ashley Erika O. Jose