In the period July-September, the Company obtained profits for US$15 million, which represents a growth of 10.2% with respect to the same quarter of 2015.
Santiago, November 4, 2016. SAAM, multinational company leader in the provision of port, logistics and towage services in the Americas, obtained earnings for US$15 million in the third quarter of 2016, which represents a 10.2% growth with respect to the same period of 2015.
These figures allow the Company to show a net income of US$44.2 million, 20.1% higher than in the same peroid of the previous year. In the meantime, during the third quarter Ebitda reached US$51.1 million, reaching an accumulated figure, as of September, of US$155.2 million, including the results of its affiliated companies at their proportional value.
“The Company showed a good peformance for this period thanks to the strategy of geographical and business diversification of our portfolio, as well as to the efficiencies displayed in each of our divisions,” explained Macario Valdés, SAAM’s CEO.
Outstanding milestones during the quarter include the agreement to acquire 51% of the companies that operate Puerto Caldera, the second largest port in Costa Rica; the beginning of extension works of the dock in Terminal Portuario Guayaquil, in Ecuador; and the adding of SAAM to the Dow Jones Sustainability Index Chile, one of the most prestigious sustainability indexes in the world.
“All these steps go in line with our growth strategy that we have set forth. Our focus is in growing sustainably jointly with recognized partners, with a solid financial position, stable returns and consolidating our leadership in the Region,” Valdés added.
Results by Division
In the Port Terminals Division, sales in the third quarter of this year showed a growth of 13.5% (with US$69.5 million), while Ebitda reached US$21 million, 33.5% higher than the third quarter of 2015.
In this business area, the good performances of Terminal Internacional del Sur (Tisur), in Peru, and Terminal Marítima Mazatlán (Tmaz), in Mexico, were outstanding, the latter driven by relevant contracts signed with Nissan and Ford. This allowed offsetting the effects of the legal strike that took place in September in San Antonio Terminal Internacional (STI).
In the Towage Division, meanwhile, revenues reached US$69.5 million and Ebitda was US$26.1 million. Outstanding during the period were the increase in special services, such as the salvage work displayed in the Bay of Coquimbo and in the port of Veracruz (Mexico) assisting a tanker.
Lastly, the Logistics Division recorded revenues for US$41.1 million, with an EBITDA of US$4 million, figure that reflects the adjustment period to the new business reality.
SAAM is a multinational company that provides services to foreign 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 10 thousand workers. It is one of the leading companies in port operations in South America and in towage services worldwide.
