Chelsea sustains recovery in 9 months

MANILA, Philippines — Chelsea Logistics and Infrastructure Holdings Corp., the shipping and logistics arm of Udenna Corp., sustained its recovery from January to September, driven by strong revenue growth fueled by solid performance across freight, chartering, logistics and food and beverage segments.

Chelsea reversed last year’s net loss with a P155 million net profit recorded during the nine-month period, with revenues rising by 15 percent year-on-year to P6.88 billion.

Chelsea chief financial officer Darlene Agus-Binay said the financial turnaround for the nine-month period underscores the company’s disciplined approach to cost management and strategic asset utilization.

It also positions the group for sustained profitability and growth.

“By maintaining stable operating expenses and executing a successful loan restructuring that lowered finance costs, we’ve fundamentally strengthened our bottom line,” Agus-Binay said.

The company’s cost discipline remained strong, with finance costs declining by 15 percent due to the successful restructuring of its loans.

“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,” Agus-Binay said.

Chelsea said that its topline growth for the nine months reflects sustained recovery in cargo and passenger volumes, expansion in business-to-business logistics and increased vessel deployment.

It said that operational challenges, including extended drydocking, continued to impact vessel availability, but were effectively managed.

“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 president and CEO Chryss Alfonsus Damuy said.

“Our teams across all segments have executed with precision, and the results speak for themselves. We remain committed to delivering value to our stakeholders while navigating operational headwinds with discipline and innovation,” he said.