Sociedad Matriz SAAM S.A. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017
March 01, 2018
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Sociedad Matriz SAAM S.A. reported consolidated earnings results for the fourth quarter and year ended December 31, 2017. Sales for the quarter totaled USD 181 million, marking an increase of USD 23.1 million over the same quarter in 2016. The increase is explained mainly by 45% growth in tons transferred by the Port Terminals Division due to the addition of Puerto Caldera (February 2017), and growth in volumes at Terminal Portuario Guayaquil (TPG) as a result of new contracts awarded at the beginning of 2017. EBITDA for the period totaled USD 46.8 million, up USD 6.9 million from the same period last year. This increase is mainly due to a strong performance from the Port Terminals Division because of improved results from Terminal Portuario de Guayaquil (TPG) and the addition of Puerto Caldera. The company posted proforma net income of USD 29.5 million, down USD 9.6 million from 2016, excluding the extraordinary gain of USD 26 million on the sale of Tramarsa in April 2017. Excluding this extraordinary effect and discontinued operations, net income for 2017 reached USD 29.5 million, down 25% from USD 39.2 million in 2016. Highlights during the period include increased activity at Terminal Portuario Guayaquil (TPG) and the incorporation of Puerto Caldera in Costa Rica, which helped of set reduced results from the Logistics Division and Chilean port terminals.
Sales for the year totaled USD 683 million, marking an increase of USD 63.2 million over the same period in 2016. The increase is explained by a 43% rise in tons transferred by the Port Terminals Division, mainly due to the addition of Puerto Caldera (SPC /SPGC) and new contracts awarded to Terminal Portuario de Guayaquil (TPG). EBITDA for the period totaled USD 181.9 million, up USD 11.5 million from the same period last year. This increase is explained by improved results from the Port Terminals Division, mainlyTerminal Portuario de Guayaquil (TPG) and the addition of Puerto Caldera, which of set reduced results from the Logistics and Towage divisions. The company posted proforma net income of USD 29.5 million, down USD 9.6 million from 2016, excluding the extraordinary gain of USD 26 million on the sale of Tramarsa in April 2017. Excluding this extraordinary effect and discontinued operations, net income for 2017 reached USD 29.5 million, down 25% from USD 39.2 million in 2016. Highlights during the period include increased activity at Terminal Portuario Guayaquil (TPG) and the incorporation of Puerto Caldera in Costa Rica, which helped of set reduced results from the Logistics Division and Chilean port terminals. Operating cash flow was USD 76.864 million against USD 67.665 million a year ago. ROE was 8.0% against 7.4% a year ago. ROA was 4.4% against 4.4% a year ago.
Sociedad Matriz SAAM SA is a Chile-based company engaged in the marine freight and logistics sector. The Companyâs activities are divided into three business segments: Tugboats, Ports, as well as Logistics and others. The Tugboats division focuses on docking, undocking, tugboats, as well as rescue and offshore support services in ports located in Chile, Peru, Mexico, Colombia, Brazil, Costa Rica, Canada and Panama, among others. The Ports division is responsible for the port management in Chile, the United States, Ecuador and Colombia. The Logistics and others division includes services related to cargo operations in managed ports, such as stowage, unstowage, documentation, storage, deposits, logistics and transport.
SOCIEDAD MATRIZ SAAM S.A. 
