Sociedad Matriz Saam S.a. · BCS:SMSAAM
Sociedad Matriz Saam — FY2018 Earnings Presentation
19 slides from Sociedad Matriz Saam's earnings presentation, Mar 14, 2019
Slide 1: Results Presentation 2018
RESULTS PRESENTATION 2018 March 14, 2019
Slide 2: Disclaimer
RESULTS 2018 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
Slide 3: Agenda
Agenda 1. Highlights 2. Aggregate Results 2018 3. Results by Business Area 4. Outlook 3
Slide 4: Agenda: Highlights
Agenda 1. Highlights 2. Aggregate Results 2018 3. Results by Business Area 4. Outlook 4
Slide 5: 1. Highlights 2018
1. HIGHLIGHTS 2018 • 2018 Net income US$49.6 million, -16% from 2017 • +91% versus 2017, excluding extraordinary effects and discontinued operations ORGANIZATION • Implementation of new operating model GROWTH • Volume increase at port terminals (TPG, Caldera, STI, Corral) • Signing MoU for AutoMobil
Slide 6: New Operating Model + Costs Savings
1. NEW OPERATING MODEL + COSTS SAVINGS • Centralized corporate procurement for main categories • Centralize investment decisions through capex committee with senior management • Standardized processes • Closure of non-profitable business 6
Slide 7: Agenda: Aggregate Results 2018
Agenda 1. Highlights 2. Aggregate Results 2018 3. Results by Business Area 4. Outlook 7
Slide 8: 2. Results 2018
RESULTS 2018 2. Results 2018 Consolidated Financial Statement (Ths US$)(1) 2018 2017 Δ% Δ Income 515.987 467.826 10% 48.161 EBITDA 145.940 117.061 25% 28.880 EBITDA Mg 28% 25% Share of profit (loss) of equity-accounted investees 18.256 16.834 8% 1.422 Profit continued operations 51.779 27.153 91% 24
Slide 9: Net Income THUS$ 2017 / 2018
RESULTS 2018 2. Net Income THUS$ 2017 / 2018 Discontinued operations 32.172 (1) (1) Corporate expenses MMUS$-5.8 + MMUS$-4.1 Others 9
Slide 10: Leverage: Sound Financial Position
RESULTS 2018 2. Leverage: Sound Financial Position Financial Debt Maturity Profile(1,2) (Dec 2018, MUS$) Net Financial Debt (1,2) (Dec 2018, MUS$) AA- Stable AA- Positive 291 241 49 Net Financial Expense Coverage(1,3) Net Financial Debt to Equity (Dec 2018) (1) Covenant: 2.75x 12,0 7,6 7,7 8,1 2015
Slide 11: Agenda: Results by Business Area
Agenda 1. Highlights 2. Aggregate Results 2018 3. Results by Business Area 4. Outlook 11
Slide 12: Towage Services: Stable results despite industry changes
RESULTS 2018 3. Towage Services: Stable results despite industry changes Consolidated Financial Statement (Ths US$)(1) FY 2018 FY 2017 Δ% Δ EXPLANATION 2018/ 2017 Income 188.846 182.348 3,6% 6.498 • Growth in activity in North America EBITDA 67.237 60.540 11,1% 6.698 EBITDA Mg 36% 33% • +2% in port
Slide 13: Port Terminals: Growth in volumes and earnings
RESULTS 2018 3. Port Terminals: Growth in volumes and earnings Consolidated Financial Statement (Ths US$)(1) FY 2018 FY 2017 Δ% Δ EXPLANATION 2018/ 2017 Income 271.601 218.369 24% 53.232 • Volume increase at TPG, Caldera, STI, Corral EBITDA 89.889 68.591 31% 21.298 EBITDA Mg 33% 31% • +12% tons tran
Slide 14: Logistics: Recovered results and margins
RESULTS 2018 3. Logistics: Recovered results and margins Consolidated (Ths US$)(1) FY 2018 FY 2017 Δ% Δ EXPLANATION 2018/ 2017 Income 58.735 69.256 -15% -10.521 • Logística Chile: EBITDA 7.349 3.445 113% 3.904 EBITDAofMg 13% 5% – New structure Share profit (loss) of equity-accounted investees 6.949
Slide 15: Agenda: Outlook
Agenda 1. Highlights 2. Aggregate Results 2018 3. Results by Business Area 4. Outlook 15
Slide 16: 4. Outlook 2019
4. Outlook 2019 PROJECT UNO • Sustainability savings • Operating model GROWTH • Preliminary agreement to acquire joint operation with Boskalis for US$201 million (February 2019) • Alta Gas begins operating in Canada PORTFOLIO OPTIMIZATION • Closing of sale of Terminal Puerto Arica (TPA) (February 20
Slide 17: 4. Outlook 2019 by business
4. Outlook 2019 TOWAGE • Acquisition of joint venture with Boskalis for US$201 million (February 2019) • Start of operations Altagas • Closure of operations Honduras • Intense market competition continues in Brazil PORT TERMINALS • Puerto Caldera expansion project • Changes in chilean market: • Sale
Slide 18: Questions
QUESTIONS http://www.saam.com ir@saam.cl 18
Slide 19: Agreement to acquire joint venture with Boskalis for MUS$201
Agreement to acquire joint venture with Boskalis for MUS$201 • Agreement signed to acquire joint venture with Boskalis (February 2019) • Acquisition of 49% of Canada, Mexico and Panama and 50% of Brazil CANADA • Enterprise Value (@100%) of MUS$560 (Nº1 West Coast) • Subject to final agreements and a