Sociedad Matriz Saam S.a. · BCS:SMSAAM
Sociedad Matriz Saam — FY2017 Earnings Presentation
18 slides from Sociedad Matriz Saam's earnings presentation, Mar 8, 2018
Slide 1: Results Presentation 2017
RESULTS Presentation 2017 March 8th , 2018
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 1. Highlights 2017 Logistics 2. Aggregate Results 2017 3. Results by Business Area 4. Priorities and Outlook 2018 3 3
Slide 4: Agenda
AGENDA 1. Highlights 2017 Logistics 2. Aggregate Results 2017 3. Results by Business Area 4. Priorities and Outlook 2018 4 4
Slide 5: 1. Highlights 2017
1. HIGHLIGHTS 2017 2017 Net Income of US$60.4 million, +11% over 2016 (includes US$26 million in extraordinary effects) GROWTH: • Acquisition of 51% of Puerto Caldera, Costa Rica • Inauguration, expansion and modernization of Terminal Portuario Guayaquil (TPG), doubling transfer capacity • Acquisiti
Slide 6: Agenda
AGENDA 1. Highlights 2017 Logistics 2. Aggregate Results 2017 3. Results by Business Area 4. Priorities and Outlook 2018 6 6
Slide 7: 2. Results 2017: Financial Summary
2. RESULTS 2017 Financial Summary 2017 2016 Δ Δ% Th US$ (1) Revenues Proforma (2) 683,997 620,799 63,198 10,2% EBITDA Proforma (2) 181,987 170,465 11,522 6,8% EBITDA Mg 26.6% 27.5% -0,9 pp Net Income Proforma 29,508 38,204 -9,695 -24,7% Profit Tramarsa 4,868 15,318 -19,451 -68,2% Extraordinary effec
Slide 8: 2. Trends in Net Income
2. TRENDS IN NET INCOME ThUS$ (1) 2.516 22.541 1.344 Proforma Net Income 16.862 Puerto Caldera 14.319 10.418 1H2016 2H2016 1H2017 2H2017 (1) Proforma net income does not include net income from Tramarsa and extraordinary effects in 2016 and 2017 8
Slide 9: 2. Net Income ThUS$ 2016 / 2017
2. NET INCOME THUS$ 2016 / 2017 30,934 60,442 54,545 10,418 6,909 Tramarsa 15,318 5,215 5,236 2,778 29,508 39,227 2016 Port Port Terminals Towage Mexico Logistica Chile Others 2017 Profit Extraordinary 2017 TPG+Caldera Chile and Uruguay w/out effects + extraordinary Tramarsa effects • Earnings growt
Slide 10: 2. Indebtedness: Sound Financial Position
2. INDEBTEDNESS: SOUND FINANCIAL POSITION Financial Debt Maturity Profile(1,2) (Dec.2017, MUS$) Net Financial Debt(1,2) (Dec 2017, MUS$) AA- Stable SAAM Subsidiaries AA- Stable 328 99 76 222 203 43 38 44 44 106 22 178 159 125 1 year 1-2 years 2-3 years 3-4 years 4-5 years > 5 years Financial Debt Ca
Slide 11: Agenda
AGENDA 1. Highlights 2017 Logistics 2. Aggregate Results 2017 3. Results by Business Area 4. Priorities and Outlook 2018 11 11
Slide 12: 3. Towage Services: Reduced Earnings from Special Services
3. TOWAGE SERVICES: REDUCED EARNINGS FROM SPECIAL SERVICES Explanation 2017 / 2016 2017 2016 Δ Δ% Th US$ (1) » Fewer special maneuvers in Mexico (Pemex) and Uruguay Revenues Proforma (2) 253,975 255,773 (1,797) -0,7% » Brazil: New operations at Pecem and Vila do Conde, increased competition EBITDA P
Slide 13: 3. Port Terminals: Earnings Growth at International Ports
3. PORT TERMINALS: EARNINGS GROWTH AT INTERNATIONAL PORTS Explanation 2017 / 2016 2017 2016 Δ Δ% Th US$ (1) » Earnings growth at Terminal Portuario Guayaquil (TPG) +2.8x rise in tons Revenues Proforma (2) 324,512 234,698 89,814 38,3% transferred EBITDA Proforma (2) 90,120 64,696 25,423 39,3% » Addit
Slide 14: 3. Logistics: Release of Assets and Structural Adjustments
3. LOGISTICS: RELEASE OF ASSETS AND STRUCTURAL ADJUSTMENTS Explanation 2016 / 2017 2017 2016 Δ Δ% Th US$ (1) • SAAM Logistics: Revenues Proforma (2) 105,509 130,328 (24,819) -19,0% » Greater competition in bonded terminals EBITDA Proforma (2) 5,871 10,774 (4,903) -45,5% » Reduced business volume in
Slide 15: Agenda
AGENDA 1. Highlights 2017 Logistics 2. Aggregate Results 2017 3. Results by Business Area 4. Priorities and Outlook 2018 15 15
Slide 16: 4. Priorities 2018
4. PRIORITIES 2018 1. PROJECT ONE • Aims to improve asset management and efficiency • Change in operating model 2. GROWTH • Solid balance sheet with debt capacity to harness growth opportunities 3. PORTFOLIO OPTIMIZATION 4. SHAREHOLDER RETURNS: • Proposed dividend of Ch$2.2 per share (~60% of net in
Slide 17: 4. Outlook 2018
4. OUTLOOK 2018 TOWAGE • Increased activity at port terminal operations in Chile • Growth in Canada driven by coal industry • Tighter competition in Brazil PORT TERMINALS • Terminal Portuario Guayaquil: new contracts in place for full year • Restructured services on west coast of South America LOGIS
Slide 18: Questions
Questions www.saam.com ir@saam.cl 18