Sociedad Matriz Saam S.A. · BCS:SMSAAM

Sociedad Matriz Saam — Q1 2014 Earnings Presentation

33 slides from Sociedad Matriz Saam's earnings presentation, May 27, 2014

  1. Slide 1: Presentation of Results for 1Q2014

    Presentation of Results for 1Q2014 SMSAAM May 27, 2014 1 1

  2. Slide 2: Agenda

    Agenda Executive Summary Results 1Q 2014 Projections 2 2

  3. Slide 3: Leader in Latin America

    Leader in Latin America The Company provides integral cargo transfer services for clients in the export and import business, and to the shipping and airline companies present in all Latin American markets. Port Terminals Tugboats Logistics MEXICO USA GUATEMALA 10 Port Terminals 132 Tugboats +300 ha.

  4. Slide 4: Recent Events

    Recent Events o Reorganization into three business segments: Port Terminals, Tugboats and Logistics o Agreement with SMIT for joint operation in Brazil, Mexico, Canada and Panama. o Incorporation to IPSA, in its first year of transactions o Extension of concessions in Iquique Terminal Internacional

  5. Slide 5: SM SAAM Shareholders as of March 31, 2014

    SM SAAM Shareholders as of March 31, 2014 Total: 3.528 shareholders Market Cap* MUS$836 Others (retail) Free Float 45.1% 16.2% Foreign Dividend yield 2013 2.8% Quiñenco 9.4% (Luksic Group) Dividend yield 2014 4.4% 42.4% Other - 11 Directors institutional Auditing Committee 9.6% Shares with equal rig

  6. Slide 6: Agenda

    Agenda Executive Summary Results 1Q2014 Projections 6 6

  7. Slide 7: SMSAAM – Results 1Q2014

    SMSAAM – Results 1Q2014 Revenues (US$ millions) EBITDA (US$ millions) 182.6 181.5 60,0 23.2% 22.1% -1% 50,0 20,0% 61.8 59.5 42.4 40 40,0 -6% 15,0% 30,0 16.2 13.5 10,0% 120.8 122.1 20,0 10,0 26.2 26.5 5,0% 0,0 0,0% 1Q2013 1Q2014 1Q2013 1Q2014 Consolidated Affiliated Consolidated Affiliated EBITDA Mg

  8. Slide 8: SMSAAM Results 1Q2014

    SMSAAM Results 1Q2014 Revenues (US$ millions) EBITDA (US$ millions) 183 43 181 40 82 92 23 27 Abroad Abroad Chile Chile 101 89 20 13 1Q2013 1Q2014 1Q2013 1Q2014 8 Note: Affiliates’ values are proportional (wqeighted by share in ownership

  9. Slide 9: Port Workers' Strikes in Latin America and the Caribbean 2010-2014

    Port Workers’ Strikes in Latin America and the Caribbean 2010-2014 Distribution of strike-days by country Distribution strike-days by motive 2010-2014 Source: USI ECLAC, based on journalists’ publications analyzed. Source: USI, ECLAC, based on journalists’ publications analyzed Left to Right: Agains

  10. Slide 10: Effects of Port Stoppage in Chile during January 2014

    Effects of Port Stoppage in Chile during January 2014 o Affected all of SMSAAM port terminals in Chile, during 22 days in January, generating two significant impacts: 1. Deterioration of activities in Chile during January, affecting the results of the three business segments: • San Antonio (STI): 29

  11. Slide 11: Leverage Capacity

    Leverage Capacity NET FINANCIAL DEBT (March 2014) 2014 2013 302 Net Debt / EBITDA 1.66 1.51 242 Net Debt / Equity 0.24 0.21 110 84 192 60 157 25 35 Financial Debt Cash Net Financial Debt Consolidated Affiliated 11 11

  12. Slide 12: Port Terminals

    Port Terminals Abroad Florida International Terminal, USA Terminal Marítimo Mazatlán, Mexico FIT TMAZ Puerto Buenavista S.A., Colombia PBV Terminal Portuario de Guayaquil, Ecuador Chile TPG Terminal Puerto Arica S.A. Iquique Terminal Internacional S.A. TPA ITI ATI Antofagasta Terminal Internacional

  13. Slide 13: Port Terminals

    Port Terminals Volume Transferred 2013 (millions of tons) Ownership % Concession Extension option Chile San Antonio Terminal Internacional 50% 2024 Extended 5 años Option +5 San Vicente Terminal Internacional 50% 2029 Extended Terminal Puerto Arica 15% 2034 Extended Antofagasta Terminal Internaciona

  14. Slide 14: Port Terminals: Major operator in South America

    Port Terminals: Major operator in South America Total Traffic 2012 Ranking Owner ('000 TEUs) Main Port Terminal 1 SAAM 2,480 San Antonio 2 DP World 1,900 Callao 3 SSA Marine 1,804 San Antonio 4 Grupo Ultramar 1,791 Valparaíso 5 Santos Brasil 1,775 Santos 6 Soc. Portuaria de Cartagena 1,470 Cartagena

  15. Slide 15: Port Terminals - Results 1Q2014

    Port Terminals - Results 1Q2014 Revenues (US$ million) EBITDA (US$ million) 20 24.4% 54.3 24,0% 52.9 22,0% -2% 15 13.3 19.9% 20,0% 28.9 25.4 10.5 18,0% 10 -20% 8.3 5.2 16,0% 5 14,0% 25.4 27.5 5.0 5.3 12,0% 0 10,0% 1Q2013 1Q2014 1T2013 1T2014 Consolidated Affiliated Ebitda Mg Consolidated Affiliated

  16. Slide 16: Port Terminals - Results 1Q2014

    Port Terminals - Results 1Q2014 Revenues (US$ million) EBITDA (US$ million) 54 53 13 18 3 11 20 5 Abroad Abroad Chile Chile 10 36 33 6 1Q2013 1Q2014 1Q2013 1Q2014 o PV Bonus Cost US$4.56 million o EBITDA without effect bonus payment: US$15.1 million +9% with respect to 1Q2013 Note: Affiliates’ value

  17. Slide 17: Tugboats

    Tugboats MEXICO GUATEMALA HONDURAS COSTA RICA COLOMBIA ECUADOR PERU BRAZIL CHILE URUGUAY o Fleet of 132 tugboats ARGENTINA o Operations in 11 countries o Leaders in operations in Latin America Country Total RAMs Conventional ASD Brazil 31 9 22 Mexico 27 4 23 o Fourth operator at world level Chile 24

  18. Slide 18: Tugboats: Agreement with SMIT

    Tugboats: Agreement with SMIT Transaction progress Initial authorizations agreed to in Framework Agreement (FA). The binding Framework Agreement signed on September 2013 establishes that certain financial institutions, antitrust entities and other contracts entered into with third parties must provi

  19. Slide 19: Tugboats: Agreement with SMIT

    Tugboats: Agreement with SMIT Executive Summary Figures as of December 2013 SMIT – Canada TOTALS AS OF DECEMBER 2013 Tugboats 21 SAAM SMIT TOTAL REVENUES 130.8 121.6 252.4 (US$ B) TUGBOATS 51 54 105 SAAM – Mexico Tugboats 27 SAAM – Brazil Tugboats 24 Market Share 12% SMIT – Panama Tugboats 10 Market

  20. Slide 20: Tugboats - Results 1Q2014

    Tugboats - Results 1Q2014 Revenues (US$ million) EBITDA (US$ million) 35,0% 24 32.7% 56.8 +8% 61.2 7.7 22 30.7% 30,0% 7.9 20 18.8 18.6 +1% 18 2.2 2.1 25,0% 16 48.9 53.5 14 20,0% 16.4 16.7 12 10 15,0% 1Q2013 1Q2014 1Q2013 1Q2014 Consolidated Affiliated Consolidated Affiliated Ebitda Mg 20 20

  21. Slide 21: Tugboats - Results 1Q2014

    Tugboats - Results 1Q2014 Revenues (US$ million) EBITDA (US$ million) 19 19 61 57 15 17 49 Abroad Abroad 43 Chile Chile 14 12 4 2 1Q2013 1Q2014 1Q2013 1Q2014 21 21

  22. Slide 22: Logistics Serves Shipping Companies / Airlines

    Logistics  Serves to Shipping Companies / Airlines  Services to Importers / Exporters  Special Services 22

  23. Slide 23: Logistics Services

    Logistics Services Services to Vessels / Aircrafts Agency Services Services to Aircrafts & Passengers Ports Stevedoring (1) Container Depots Distribution of Revenues Services to Exporters / Importers 1Q2014 Warehousing, Storage & Refrigeration Containers (De)consolidation Special Services Bulk & Bre

  24. Slide 24: Logistics - Results 1Q2014

    Logistics - Results 1Q2014 Sales (US$ million) EBITDA (US$ million) 15.9% 14 15,0% 14.8% 71 67 12 10.7 10.6 13,0% +6% 10 25.1 26.3 11,0% 8 5.8 6.2 9,0% 6 46.5 41.0 7,0% 4 4.9 4.4 2 5,0% 1Q2013 1Q2014 1Q2013 1Q2014 Consolidated Affiliated Consolidated Affiliated Ebitda Mg 24 24

  25. Slide 25: Logistics - Results 1Q2014

    Logistics - Results 1Q2014 Revenues (US$ million) EBITDA (US$ million) 71 11 68 10 20 24 5 4 Abroad Abroad Chile Chile 51 44 6 6 1Q2013 1Q2014 1Q2013 1Q2014 o PV Bonus Cost: US$0.5 million o Recovery EBITDA margin with respect to 4Q2013 6.6% to 15.9% in 1Q2014 25 25

  26. Slide 26: Agenda

    Agenda Executive Summary Results 1Q2014 Projections 26 26

  27. Slide 27: Outlook of the port conflict in Chile

    Outlook of the port conflict in Chile o Clarification of working conditions: wages and safety. o Governmental task force to solve conflict of port workers. o Strengthening of the Maritime Chamber. o The soon to be enacted “Ley Corta” (Short Law) that solves the ‘half hour lunch’ issue. o Round table

  28. Slide 28: SMSAAM present in regions with greatest projected growth

    SMSAAM present in regions with greatest projected growth o Compound Annual Growth of Cargo Movement in Ports (2011-2017) o Central America/Caribbean and South America are projected to be two of the three regions with the greatest growth in cargo movement in the world. Far East Central Am/ South Amer

  29. Slide 29: CAPEX 2014

    CAPEX 2014 Division of Business 2014 Projected Major Investments into Segments Investments (consolidated + PV) (Proportional Value) Port Terminals ThUS 46,440 • Extension and reconstruction - San Vicente Terminal Internacional (27F) • Dock extension and purchase of equipment - San Antonio Terminal I

  30. Slide 30: Growth Plan for 2014

    Growth Plan for 2014 Port Terminals : o Participation in port terminals privatization and/or tender processes in Latin America o SMSAAM- Carioca Engenharia-GP Investimentos Consortium to explore the Brazilian port business. A work team was made up including the CEO + one representative of every comp

  31. Slide 31: Disclaimer

    Disclaimer This presentation provides general information about Sociedad Matriz SAAM S.A. (“SM SAAM”) and related companies. It is summarized information and does not claim, in any way, to be complete. It is not intended to be considered as an advice to potential investors. No representations or war

  32. Slide 32: Contact

    Contact Paula Raventós Head of Investor Relations Sociedad Matriz SAAM S.A. Hendaya 60, 8th Floor, Santiago, Chile (56-2) 2731-8240 praventos@saamsa.com www.smsaam.com 32

  33. Slide 33: Presentation of Results for 1Q2014

    Presentation of Results for 1Q2014 May 27, 2014 33 33

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