10 slides from Compania Sud Americana De Vapores's earnings presentation, May 26, 2025
Slide 1: CSAV 1Q25 Results
CSAV 1Q25 Results New "Hamburg Express" Sets Sail May 2025 Under the German flag, the "Hamburg Express“ (23,660 TEU) is part of a series of twelve ultra-modern vessels designed to enhance the efficiency, sustainability and future viability of Hapag-Lloyd’s fleet.
Slide 2: Opening Remarks
OPENING REMARKS CSAV • Good result of US$149.4mn profit in 1Q25 (vs US$ -159.1mn in 1Q24) driven by the good result of HLAG (1Q25 US$ 137.3mn vs Hapag-Lloyd, CSAV’s 1Q24 US$ 93.8mn) and lower tax expenses compared to 1Q24. main investment • Tax expenses 1Q25: US$ -7.5mn vs 1Q24: US$ -230.5mn mainly
Slide 3: CSAV's Results
ANNEXES CSAV’s RESULTS 1Q25/1Q24 Figures in USD million Result 1Q25 1Q24 Var % Var # Equity-accounted investees 137.3 93.8 46% 43.5 SG&A and Other Op. Income (3.2) (3.0) 9% (0.3) Operational Result (with equity-accounted investees) 134.0 90.8 48% 43.2 Financial result 0.7 4.7 (85%) (4.0) Exchange ra
Slide 4: Net Income 1Q24 vs 1Q25
CSAV’s RESULTS 1Q24 vs 1Q25 Net Income 1Q24 vs 1Q25 200,0 223,0 149,4 150,0 100,0 50,0 0,0 -50,0 46,3 -100,0 43,5 (497) -0,3 -4,0 -150,0 -159,1 -200,0 Share of HLAG's Financial Result Tax Expenses 1Q24 Profit Result SG&A Exchange Rate Dif. 1Q25 Profit 4
Slide 5: Retentions & Tax Credits Balance 1Q25
CSAV’s RETENTIONS & TAX CREDITS BALANCE 1Q25 as of March 31st as of December 31st Current Tax Assets MMUS$ Change 2025 2024 Remaining VAT tax credit 2,2 2,0 10% 0,2 Income tax to recover 401,4 382,7 5% 18,8 Credits for taxes paid abroad 223,6 225,5 (1%) (1,9) Total current tax assets 627,2 610,2 3%
Slide 6: Retentions May 2025
CSAV’s RETENTIONS MAY 2025 Retentions Balance as of May 2025 Dividend Payment Dividend Retention Rate Retention Refund Asset Entity Date [EUR mn] [%] [EUR mn] Entity 1. Current CSAV Germany May 8, 2023 1,732 10.550% 183 CSAV Chile EUR 434mn 2. Current CSAV Germany August 8, 2023 480 10.550% 51 CSAV
Slide 7: Balance Sheet Dec24 vs Mar25
CSAV’s RESULTS BALANCE SHEET Dec24 vs Mar25 Assets main changes Dec24 vs Mar25 150 1 7,673 7.506 22 -5 EUR appreciation Operational effect Mainly HLAG payments Result @30% Total Assets Dec24 Cash and cash equivalents Total tax assets Equity method investments Others Total Assets Mar25 Liabilities ma
Slide 8: ESG – Recent Events
CSAV ESG – RECENT EVENTS During this quarter, we opened a new playground at a vulnerable school in San Antonio. This space will be used by 150 young learners who are now able to enjoy this renovated area. 8
Slide 9: Closing Remarks
CLOSING REMARKS CSAV • Attractive vehicle to invest in Hapag-Lloyd & solid balance sheet • Results mostly explained by HLAG’s results & lower tax expenses • EUR 487mn in tax assets as of March 2025 & EUR 520mn as of May 2025 Hapag-Lloyd, CSAV’s main investment + Good start of 2025 with high volume g
Slide 10: Annexes
ANNEXES