SAAM [SM SAAM] posted net income of US$ 18.3 million for the first quarter of 2025, EBITDA of US$ 49.5 million (+16%) and revenue of US$ 148,1 million (+6%).
“The quarter was marked by good progress in our operating results and EBITDA, thanks to contract renewals and increased special services, together with improvements in operational indicators and fleet availability,” summarized CEO Macario Valdés.
He added that “despite a very volatile economic context, our results remain solid and enable us to continue to drive the company’s sustainable growth.” SAAM projects investments of US$ 80 million for this year.
Although the operating indicators improved substantially during the quarter, net income was lower (-17%) because of last year’s sale of some real estate assets, higher net financial income due to greater available liquidity and higher foreign exchange gains.
Among the period’s milestones were the proposal and approval of a final dividend of US$ 39.2 million (totaling US$ 59.2 million charged to 2024 earnings), the incorporation of two new line handlers for the fleet in Canada and a positive flower export season in Colombia and Ecuador supported by Aerosan.
Early in the year risk rating agencies Humphreys and Feller Rate maintained their ratings at “AA” with stable outlooks for SAAM’s bond facilities and debt securities.
