Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — Q1 2024 Earnings Presentation
12 slides from Compania Sud Americana De Vapores's earnings presentation, June 2024
Slide 1: CSAV 1Q24 Results
EICSAV CSAV 1924 Results June 2024
Slide 2: Opening Remarks
OPENING REMARKS | INDUSTRY | HLAG’S RESULTS | CSAV’S RESULTS | CLOSING REMARKS OPENING REMARKS Hapag-Lloyd, CSAV’s main investment CSAV + Good start to the year 2024 with an upturn in demand. • 1Q24 – US$159.1 mn loss driven mostly by tax expenses -Security situation in the Red Sea continues. provis
Slide 3: Red Sea security issues continue to cause disruptions, resulting in short-term capacity shortage
OPENING REMARKS | INDUSTRY | HLAG’S RESULTS | CSAV’S RESULTS | CLOSING REMARKS RED SEA SECURITY ISSUES CONTINUE TO CAUSE DISRUPTIONS, RESULTING IN SHORT-TERM CAPACITY SHORTAGE 3
Slide 4: Demand Evolution 2020-2024
OPENING REMARKS | INDUSTRY | HLAG’S RESULTS | CSAV’S RESULTS | CLOSING REMARKS DEMAND EVOLUTION 2020-2024 MARKET ENVIRONMENT BETTER THAN EXPECTED WITH HIGHER VOLUMES Global Demand Growth (%YoY) Suez Canal 25 2023 demand was 0.4% up vs 2022 Blockage 20 1Q24/1Q23 + 9,1% 15 Covid started 10 Demand grow
Slide 5: Freight rates up since December 2023 as a consequence of the Red Sea situation
OPENING REMARKS | INDUSTRY | HLAG’S RESULTS | CSAV’S RESULTS | CLOSING REMARKS INDUSTRY FREIGHT RATES UP SINCE DECEMBER 2023 AS A CONSEQUENCE OF THE RED SEA SITUATION Freight Rate Evolution (US$/TEU) SCFI Shanghai-Europe Shanghai-S America Shanghai-WC America Shanghai-EC America 12.000 Average SCFI
Slide 6: Supply evolution throughout the years
OPENING REMARKS | INDUSTRY | HLAG’S RESULTS | CSAV’S RESULTS | CLOSING REMARKS INDUSTRY SUPPLY EVOLUTION THROUGHOUT THE YEARS Orderbook to Fleet (%) + 3,6% of deliveries in 1Q24 32 70% Nov7 61,3% + Decreasing Orderbook to Fleet 28 60% + New capacity may likely exceed 24 50% demand in the next quarte
Slide 7: HLAG's Results: 1Q24 challenging market environment
HLAG’S RESULTS 1Q24 CHALLENGING MARKET ENVIRONMENT Capacity Financial Results 1Q24 1Q23 ∆% Transported volume 280 (TTEU) 3,037 2,842 7% Total Average freight rate vessels 1,359 1,999 -32% (USD/TEU) Revenue (USD mn) 4,632 6,028 -23% Transport expenses + (1,256) (1,324) -5% 2,066 TTEU D,A & I (USD/TEU
Slide 8: Outlook for the full year 2024 narrowed to upper half of previous range
OPENING REMARKS | INDUSTRY | HLAG’S RESULTS | CSAV’S RESULTS | CLOSING REMARKS HLAG OUTLOOK FOR THE FULL YEAR 2024 NARROWED TO UPPER HALF OF PREVIOUS RANGE MMUS$ Note: Hapag-Lloyd Investor Presentation 1Q24 8
Slide 9: CSAV's Results: 1Q24 vs 4Q23
CSAV’s RESULTS 1Q24 vs 4Q23 Figures in USD million Result 1Q24 1Q23 Y-o-Y Equity-accounted investees 93.8 607.1 (513.3) SG&A and Other Op. Income (3.0) (4.8) 1.9 Operational Result (with equity-accounted investees) 90.8 602.3 (511.4) Financial result 4.7 (4.1) 8.8 Exchange rate difference (24.1) (1.
Slide 10: CSAV's Results: Retentions Balance 1Q24
OPENING REMARKS | INDUSTRY | HLAG’S RESULTS | CSAV’S RESULTS | CLOSING REMARKS CSAV’s RESULTS RETENTIONS BALANCE 1Q24 Current Tax Assets MMUS$ as of March 31st, 2024 as of Dec 31st, 2023 Remaining VAT tax credit 1.6 1.7 Income tax to recover 348.7 1,207.0 Credits for taxes paid abroad 251.6 317,8 To
Slide 11: CSAV's Results: Retentions Balance
OPENING REMARKS | INDUSTRY | HLAG’S RESULTS | CSAV’S RESULTS | CLOSING REMARKS CSAV’s RESULTS RETENTIONS BALANCE Retentions Balance as of May, 2024 Dividend Payment Dividend Retention Rate Retention Refund Entity Date [EUR mn] [%] [EUR mn] Entity CSAV Germany May 8, 2023 1,732 10.550% 183 CSAV Chile
Slide 12: Slide 12
Compañía Sud Americana de Vapores S.A. (CSAV) — Q1 2024 Earnings Presentation on 6ix