Sociedad Matriz Saam S.a. · BCS:SMSAAM
Sociedad Matriz Saam — H1 2015 Earnings Presentation
33 slides from Sociedad Matriz Saam's earnings presentation, Aug 14, 2015
Slide 1: Presentation of Results for 1st Semester 2015
Presentation of Results for 1st Semester 2015 August 14, 2015 1
Slide 2: Disclaimer
Disclaimer This presentation provides general information about Sociedad Matriz SAAM S.A. (“SMSAAM”) and related companies. It consists of summarized information and does not purport to be complete. It is not intended to be relied upon as advice to potential investors. No representation or warrantie
Slide 3: Agenda
Agenda Executive Summary General Overview Results I Semester 2015 Guidance 3
Slide 4: Agenda
Agenda Executive Summary General Overview Results I Semester 2015 Guidance 4
Slide 5: Leader in Latin America
Leader in Latin America • Company providing comprehensive cargo transfer services for clients in the export and import business, and to shipping and airline companies, present in the most significant American markets. Port Terminals Towage Logistics 10 Port Terminals 189 (1) +350 ha. Tugboats Suppor
Slide 6: SM SAAM Shareholders as of July 31, 2015
SM SAAM Shareholders as of July 31, 2015 Total: 3.505 Shareholders Others (retail) Market Cap (1) MUS$708 18,3% Quiñenco Total Share (2) 9.736.791.983 Foreign (Luksic Group) 7,3% 42,4% Free Float 45,15% Dividend yield 2013 2,8% Other Dividend yield 2014 4,4% (Institucional) 11,1% Dividend yield 2015
Slide 7: SMSAAM Share movement
SMSAAM Share movement YTD 2015 Cumulative Total Return (Gross Dividends 02-01-2015 / 28-07-2015) SMSAAM (USD) IPSA (USD) MSCI Latin America (USD) MSCI Latin America Small Cap (USD) 125 120 115 110 105 100 95 90 85 80 75 5 MUS$ Trade Market Cap 1.000 MMUS$ Market Cap 4 800 MUS$ Trade 3 600 2 400 1 20
Slide 8: Agenda
Agenda Executive Summary General Overview Results I Semester 2015 Guidance 8
Slide 9: General Overview
General Overview Growth rates remain low with respect to the past two years. GDP Growth at 2014/2013 versus 2015 forecast 8.4% 6.2% 5.8% 6.1% 5.1% 4.9% 4.6% 4.6% 4.2% 4.2% 3.8% 3.9% 3.2% 3.7% 3.5% 3.5% 3.5% 3.1% 2.8% 2.7% 2.6% 3.4% 2.5% 2.4% 2.5% 2.4% 2.4% 2.1% 2.0% 2.2% 1.9% 1.3% 1.4% 1.5% 0.1% Chi
Slide 10: General Overview: currency devaluation
General Overview Significant currency devaluation in our main countries of operation: Average exchange rates 1st semester 2015 and 2014 Average Average Variation 2015 2014 (%) Perú 3,12 2,80 11,4% Chile 621,65 555,41 11,9% Colombia 2503,52 1957,58 27,9% México 15,18 13,13 15,7% Brasil 3,00 2,28 31,5
Slide 11: General Overview
General Overview At the closing of the first semester of 2015, a decrease of 10.7% and 14.3% in total exports and imports was recorded, respectively, in relation to the same period of 2014 (USFOB). CHILE In the Airline Market, as at June 2015, exports and imports decreased by 12.2% and 1.4%, respect
Slide 12: General Overview
General Overview In ‘SST Mexico’ market, as at June 2015, 5% less ships were docking at ports with respect to the same period of 2014. MÉXICO Expenditure cuts in PEMEX exploration processes. Between January and June, 2015, activity was 5% lower than during the same period of last year, in terms of t
Slide 13: General Overview
General Overview • Restructuring of shipping market: Generation of stable alliances, which produced a change in the number of ships docking and new call for tenders for providing services. • Acquisitions/mergers 2014: HALO/CSAV and HSUD/CCNI: Increase in shipping companies’ negotiating power Dro
Slide 14: General Overview - Chile
General Overview - Chile - Chile • Start-up of port workers’ half-hour lunch break. - Chile • Customs’ strike in May affects Port Terminals and Logistics. • Increased number of days with closed terminals due to heavy seas (storm surges) in ATI and STI with respect to previous years. Days closed – 1s
Slide 15: Agenda
Agenda Executive Summary General Overview Results I Semester 2015 Guidance 15
Slide 16: Milestones I Semester 2015
Milestones I Semester 2015 Corporate: • Launching of Shared Services Project’s first phase. • Progress in reduction of accident rates. • Considered one of the best companies for young professionals to enter the labor world (Ranking Best Firstjob Employers Chile). Tugboats: • ‘SST Brasil’ achieves su
Slide 17: Milestones I Semester 2015
Milestones I Semester 2015 Port Terminals: • Extension process of FIT concession in final phase. • Twenty-six days illegal strike in Iquique Terminal (ITI), and 9-day strike in Customs. • Agreement with Port Terminals’ Unions. • Commencement of dock extension project in San Antonio Terminal Internac
Slide 18: Results SMSAAM II Quarter 2015 (Consolidated + PV)
Results SMSAAM II Quarter 2015 (Consolidated + PV) REVENUES US$ Millions EBITDA US$ Millions 450 140 27% 30% 400 120 23% 25% 350 100 300 20% 250 -3% 80 192 186 14% 15% 200 60 50 65 43 150 79 10% 40 26 100 18 127 20 5% 50 107 25 24 0 0 0% 2Q2014 2Q2015 2Q2014 2Q2015 35 Consolidated Affiliate Consolid
Slide 19: Results SMSAAM I Semester 2015 (Consolidated + PV)
Results SMSAAM I Semester 2015 (Consolidated + PV) REVENUES US$ Millions EBITDA US$ Millions 700 250 28% 30% 600 25% 200 22% 500 1% 20% 374 378 150 400 26% 104 15% 300 125 155 100 83 52 10% 200 31 249 50 100 223 5% 52 52 0 0 0% 1S-2014 1S-2015 1S-2014 1S-2015 Consolidated Affiliate Consolidated Affi
Slide 20: Distribution of business areas II Quarter 2015
Distribution of business areas II Quarter 2015 (Consolidated + PV) BY REVENUES 2Q 2015 BY EBITDA 2T2015 MUS$ 186 MUS$ 50 Logistics 14% Logistics 30% Towage 38% Towage Ports 53% 33% Ports 32% BY REVENUES 2Q 2014 BY EBITDA 2T2014 MUS$ 192 MUS$ 43 Logistics 21% Towage Towage Logistics 33% 40% 36% Ports
Slide 21: Distribution of business areas I Semester 2015
Distribution of business areas I Semester 2015 (Consolidated + PV) BY REVENUES 2015 1S2015 BY EBITDA 2015 1S2015 MUS$ 378 MUS$ 104 Logistics Logistics 16% 31% Towage 37% Towage 49% Ports 35% Ports 32% BY REVENUES 2014 1S2015 BY EBITDA 2014 1S2015 MUS$ 374 MUS$ 83 Logistics Towage 24% Logistics 33% T
Slide 22: Port Terminals
Por Terminals Foreing FIT TMAZ Florida International Terminal Marítimo Puerto Buenavista Terminal Portuario Terminal, USA Mazatlán, México S.A. Colombia de Guayaquil, PBV Ecuador Chile TPG TPA ITI Terminal Puerto Iquique Terminal Antofagasta ATI Arica S.A. Internacional S.A. Terminal STI Internacion
Slide 23: Port Terminals: leading Operator in South America
Port Terminals: leading Operator in South America Total TEUs Transfered Ranking %SMSAAM Principal Port Terminals (Thousands) 1 SAAM 2.491 San Antonio, San Vicente, Iquique, Antofagasta 2 DP World 2.155 Callao, Buenos Aires, Suriname, Santos 3 Grupo Ultramar 2.047 Valparaíso, Mejillones, Coronel, Coq
Slide 24: Results Port Terminals I Semester 2015
Results Port Terminals I Semester 2015 (Consolidated + PV) REVENUESS US$ Millions EBITDA US$ Millions 180 90 40% 160 80 35% 7% 30% 140 121 70 30% 113 25% 120 60 25% 100 50 57 30% 20% 80 54 40 37 28 15% 60 30 21 40 20 15 10% 59 64 20 10 5% 13 16 0 0 0% 1S-2014 1S-2015 1S-2014 1S-2015 Consolidated Aff
Slide 25: Towage
\ 1b aa a Sue Vers -’ Cre te 4: ~S santana Yu sontaren @ o's Recife @ Salvador de B
Slide 26: Results Tugboats I Semester 2015
Results Tugboats I Semester 2015 (Consolidated + PV REVENUES US$ Millions EBITDA US$ Millions 250 120 36% 40% 35% 100 200 28% 30% 13% 142 80 150 25% 125 60 46% 52 20% 15 46 35 100 15% 40 19 3 10% 50 110 96 20 32 33 5% 0 0 0% 1S-2014 1S-2015 1S-2014 1S-2015 Consolidated Affiliate Consolidated Affilia
Slide 27: Logistics
aisaam Services to Shipping © paticesttegemies
Slide 28: Results Logistics I Semester 2015
Results Logistics I Semester 2015 (Consolidated + PV) REVENUES US$ Millions EBITDA US$ Millions 200 45 20% 180 40 18% 160 -15% 35 15% 16% 136 14% 140 14% 115 30 120 -17% 12% 55 25 100 20 10% 52 20 17 80 8% 15 60 13 6% 40 81 10 13 4% 63 20 5 2% 7 4 0 0 0% 1S-2014 1S-2015 1S-2014 1S-2015 Consolidated
Slide 29: Indebtedness (Consolidated + PV)
Indebtedness (Consolidated + PV) NET FINANCIAL DEBT (MUS$ Jun 2015) Profitability Consolidated Values jun-15 dic-14 500 ROE (1) 8.3% 8.8% 450 400 374 ROA (2) 4.8% 5.3% 350 300 159 271 Leverage Consolidated values jun-15 dic-14 250 101 200 NFD / Equity 0.21 0.18 150 102 100 215 NFD/ EBITDA (3) 1.59 1
Slide 30: Agenda
Agenda Executive Summary General Overview Results I Semester 2015 Guidance 30
Slide 31: Guidance
Guidance Within a context of lower dynamism in various Latin American economies: • Reduce administration expenses through Shared Services Center. • Benefit from economies of scale through centralized global purchases. • Strengthen processes aimed at greater operational efficiency. • Increase commerc
Slide 32: Contact
Contact Paula Raventós Fernando Lyon Head of Investor Relations Investor Relations Sociedad Matriz SAAM S.A. Sociedad Matriz SAAM S.A. Hendaya 60, 9th Floor, Santiago, Chile Hendaya 60, 9th Floor, Santiago, Chile (56-2) 2731-8240 (56-2) 2731-8215 praventos@saamsa.com flyons@saamsa.com www.smsaam.com
Slide 33: Presentación Resultados 1er Semestre 2015
Presentación Resultados 1er Semestre 2015 August 14, 2015 33