Sociedad Matriz Saam S.A. · BCS:SMSAAM
Sociedad Matriz Saam — FY2015 Earnings Presentation
36 slides from Sociedad Matriz Saam's earnings presentation, Mar 11, 2016
Slide 1: Presentation of Results for 2015
Presentation of Results for 2015 March 11, 2016
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 Industry Overview Results 2015 Guidance
Slide 4: Agenda
Agenda Executive Summary Industry Overview Results 2015 Guidance
Slide 5: Leader in Latin America
Leader in Latin America Port Terminals Towage Logistics 11 188 (1) +350(2) ha. LogisticsLogistics Terminals Tugboats Warehouses and Support Areas • Multinational Company present in 15 countries in America, in 84 ports • Fourth major towage operator at world level • Second major port operator in Sout
Slide 6: SM SAAM Shareholders as of February 29, 2016
SM SAAM Shareholders as of February 29, 2016 3,441 Shareholders Market Cap (1) MUS$674 Total Shares (2) 9,736,791,983 Free Float 45.15% Dividend yield 2013 3,1% Dividend yield 2014 4,5% Dividend yield 2015 4,2% (1) Share Price considered as $47,29 and US Dollar at Ch$683.00 on 03/08/2016. (2) Quoted
Slide 7: Stock Watch
Stock Watch YTD 2015 Cumulative Total Return (Gross Dividends 02-01-2015 / 30-12-2015) CLP US$ SM-SAAM -0.6% -14.1% IPSA -4.4% -17.4% 122 MSCI Latin America --- -29.0% 117 MSCI Latin America S C --- -29.7% 112 107 102 97 92 87 -14.1% 82 -17.4% 77 -29.0% 72 -29.7% 67 Dividend Yield • Quoted on Santia
Slide 8: Agenda
Agenda Executive Summary Industry Overview Results 2015 Guidance
Slide 9: Industry Overview
Industry Overview External Fators - Economies where SAAM operates grew at very moderate rates. Estimated Growth rates in 2015 2015 2014 Chile (E) 2.1% 1.9% Perú 3.1% 2.4% México 2.5% 2.1% Brasil -3.8% 0.1% Uruguay (E) 2.0% 3.5% - Significant currency devaluation in main countries where we are presen
Slide 10: Drop in commodities' price; closures and halt of investments
Drop in commodities’ price; closures and halt of investments Oil WTI (US$/barrel) Copper US$ /Lb Coal (US$/short ton, Impor EEUU-Canada) Source : U.S. Energy Information Administration (EIA) Future Value 10
Slide 11: Industry Overview
Industry Overview External Factors - Very moderate growths / decrease in cargo transferred in SAAM-operated markets: Country Tons transferred % Variation YOY 2015 vs 2014 Chile V and VIII region +3.5% Peru Total market +9.0% Brazil Total market +4.0% Ecuador Guayaquil market +4.7% Mexico Commercial
Slide 12: Industry Overview
Industry Overview • Restructuring of shipping market : Creation of stable alliances New calls for tenders to provide services Downward turn of results during 2015 • Acquisitions/mergers: Hapag-Lloyd/CSAV, Hamburg Sud/CCNI, CMA-CGM/NOL, China Shipping/Cosco: Shipping companies increase their
Slide 13: Agenda
Agenda Executive Summary Industry Overview Results 2015 Guidance
Slide 14: Relevant Milestones in 2015
Relevant Milestones in 2015 In a more complex scenario ……. We focused on: • Imprinting a seal of operational excellence • Strengthening our current businesses • Capitalizing growth opportunities in new businesses and markets
Slide 15: Relevant Milestones in 2015
Relevant Milestones in 2015 Imprinting a seal of operational excellence • Commencement of Operational Excellence Project (Infrastructure, Maintenance, Operations) • Implementation of Corporate Supply/Procurement • Strengthening labor relations in port terminals • Progress in reducing accident rates
Slide 16: Relevant Milestones in 2015
Relevant Milestones in 2015 Strengthening our current businesses • First anniversary of joint operations with Boskalis, achieving synergies in Saam Smit Towage (SST) Brasil for over US$15 million • Renewal of Florida International Terminal, USA (FIT) concession with Broward County, for 10+5+5 years
Slide 17: Relevant Milestones in 2015
Relevant Milestones in 2015 Capitalizing growth opportunities in new businesses and markets • Incorporation of Terminal Internacional del Sur (TISUR) in Peru to business portfolio, which implied a reduction in Tramarsa ownership, from 49% to 35% • Development of Contract Logistics in Chile, implemen
Slide 18: SMSAAM Results (Consolidated + PV)
SMSAAM Results (Consolidated + PV) REVENUES US$ Millions Note: Affiliates at proportional value Consolidated Affiliate. EBITDA US$ Millions Note: Affiliates at proportional value Cosolidated Affiliate Ebitda Margin. 18
Slide 19: SMSAAM Results (Consolidated + PV)
SMSAAM Results (Consolidated + PV) CONTROLLER’S NET INCOME US$Millions EBITDA- GEOGRAPHIC DIVERSIFICATION EBITDA - BUSINESS DIVERSIFICATION Note: Consolidated + PV 19 Note: South America does not consider Chile
Slide 20: SMSAAM Results IV Quarter 2015 (Consolidated + PV)
SMSAAM Results IV Quarter 2015 (Consolidated + PV) REVENUES US$ Millions EBITDA US$ Millions 400 120 30% 25% 26% 350 100 25% 300 80 20% 250 -10,4% 201 200 180 60 -7,5% 15% 50 46 150 80 83 40 10% 24 100 30 121 20 5% 50 97 26 16 0 00 0% 4T2014 4T2015 4T2014 4T2015 Consolidado Coligado Consolidado Coli
Slide 21: Capex 2015
Capex 2015 Investments 2015 Business (Consolidated + PV) Main Investments Divisions US$ Millions • Equipment renewal in Iquique • Dock extensión and purchase of equipment Terminal Portuario Guayaquil • Extension and reconstruction San Vicente Terminal Internacional Port Terminals 46.3 (27F) • Dock e
Slide 22: Port Terminals
afisaam Port Terminals
Slide 23: Port Terminals
Port Terminals Chile Foreign Terminal Puerto Iquique Terminal Florida Terminal Marítimo Arica S.A. Internacional S.A. International Mazatlán, México Terminal, USA Antofagasta San Antonio Terminal Portuario Puerto Buenavista Terminal Terminal de Guayaquil, S.A., Colombia Internacional S.A. Internacio
Slide 24: Port Terminals
Port Terminals Relevant Milestones in 2015: • Incorporation of Peru’s Terminal Internacional del Sur (TISUR) to business portfolio, which implied a reduction in Tramarsa ownership from 49% to 35% • Concession renewal of Florida International Terminal, USA (FIT) with Broward County, for 10+5+5 years
Slide 25: Port Terminals
Port Terminals Terminal Internacional del Sur • Concession for 30 years (1999 – 2029) in the Arequipa region, Peru • 832 mt. pier, 15 mt. draught and 160 hectares support area • 3.2 million tons were mobilized in 2015 • Main cargo: ore concentrate, bulk, general cargo and containers • Mooring dock F
Slide 26: Port Terminals - accumulated at December 2015 (Consolidated + PV)
Port Terminals - accumulated at December 2015 (Consolidated + PV) REVENUES US$ Millions EBITDA US$ Millions TONS Thousands REVENUES DISTRIBUTION 26
Slide 27: Towage
Towage
Slide 28: Towage
Towage Relevant Milestones 2015 • First anniversary of joint operations with Boskalis, achieving synergies in Saam Smit Towage (SST) Brasil for more than US$15 Million • Renewal of long-term towage contracts in Mexico: Veracruz, Lázaro Cárdenas and Altamira (subsequent event) • CSAV/Hapag-Lloyd was
Slide 29: Towage – Accumulated at December 2015 (Consolidated + PV)
Towage – Accumulated at December 2015 (Consolidated + PV) REVENUES US$ Million EBITDA US$ Million MANEUVERS REVENUES DISTRIBUTION Note: Does not consider work done for off-shore contracts 29
Slide 30: Logistics
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Slide 31: Logistics
Logistics Relevant Milestones in 2015: • Logística Chile Impacted by less volumes due to loss of services to Hapag - Lloyd in Container Depot and Workshop Diminished activity of foreign trade affected volume of services associated to exports and imports • Logistics Brazil Closing of operations
Slide 32: Logistics - accumulated at December 2015 (Consolidated + PV)
Logistics - accumulated at December 2015 (Consolidated + PV) REVENUES US$ Millions EBITDA US$ Millions REVENUES DISTRIBUTION 32
Slide 33: Agenda
Agenda Executive Summary Industry Overview Results 2015 Guidance
Slide 34: Guidance
Guidance External Context : • Weak growth of the Region’s economies • Drop in the Price of commodities • Appreciation of the US Dollar SAAM • Strengthening of our current businesses with a seal of operational excellence and commercial management • Transformation of our Logistics business • Capitaliz
Slide 35: 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 36: Presentation of Results for 2015
Presentation of Results for 2015 March 11, 2016