Comparing this figure with the one reported in the previous exercise, and isolating the extraordinary effect of the last quarter of 2015 for US$17 million resulting from the restructuring of their Tramarsa businesses in Peru, earnings increased by 5.6%

In accordance with the Company’s report, considering jointly the consolidated financial statements and the results of their affiliates at their proportional value, with respect to 2015, their total sales experienced a drop of 4.4%, reaching US$ 717 million, while Ebitda rose by 1%, totaling US$ 205 million.

“We are facing a restrictive cycle in our regional economy. However, thanks to the diversification of our portfolio, a proper commercial strategy and the commitment of our employees, we have been able to offset the fall shown by some markets and to strengthen others such as Peru and Central America”, stated Macario Valdés, SAAM’s CEO.

In this sense, the work performed by the Company during 2016 is already reflected in significant progress during the first quarter of 2017, following the materialization of the acquisition of 51% of Puerto Caldera in Costa Rica –with which SAAM has twelve port terminals in America-, and the first bond issuance in the local market for UF 2,8 million (approximately US$111 million), which concluded successfully on January past.

Other significant milestones during the period of 2016, were the inauguration of the new docks in San Vicente Terminal Internacional (SVTI) and in Terminal Internacional del Sur (Tisur) in Peru; the extension works in Terminal Portuario Guayaquil (TPG) in Ecuador; the acquisition of eight new tugboats and the incorporation of SAAM to the Dow Jones Sustainability Index Chile.

“All these steps go in line with the strategy we have set for ourselves: to grow in a sustainable manner, jointly with recognized partners, with a solid financial position, stable returns and consolidating our leadership in the region”, Valdés added.

Results by Division

The Port Terminals Division increased sales by 12% (with US$ 275.6 million), while Ebitda reached US$ 89.9 million. Worthy of notice is the good performance of Florida International Terminal (FIT) in the U.S.A.; San Vicente Terminal Internacional (SVTI) in Chile; and Terminal Internacional del Sur (Tisur) in Peru.

Meanwhile, in the Towage Division, sales reached US$ 273.9 million and an Ebitda of US$ 101 million. Special services increased and new contracts in Panama and Honduras were entered into. Likewise, the division was awarded the concession of Altamira in México and 8 new tugboats were added to the fleet.

Lastly, the Logistics Division recorded sales for US$ 167.4 million and an Ebitda of US$14 million. The figure reflects the drop in the sale of services to shipping companies and the closing of services for the construction of container modules in Peru, part of the process of adjusting to the new business strategy focused on services for the Supply Chain.

SAAM is a multinational company that provides services to international trade through its three business divisions: Port Terminals, Towage and Logistics. With 55 years experience, SAAM is present in 15 countries in North, Central and South America, generating employment for over 11 thousand workers. It is one of the leading companies in port operations in South America and in towage services worldwide.

Source: saam
2017-03-07

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