Sociedad Matriz Saam S.A. · BCS:SMSAAM
Sociedad Matriz Saam — Q2 2020 Earnings Presentation
23 slides from Sociedad Matriz Saam's earnings presentation, August 2020
Slide 1: Results 2Q2020
afsdam. RESULTS 2Q2020 August 2020 OOH)
Slide 2: 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 warranties, express
Slide 3: 01 Highlights
afsaam. 01 HIGHLIGHTS 292020
Slide 4: COVID-19: Update on Foreign Trade – Shipping Industry
COVID-19: UPDATE ON FOREIGN TRADE – SHIPPING INDUSTRY 5.1% -11% +21% -30% +9% -5% Inactive global container Chile's mining Chile's retail import Ecuador’s banana Costa Rica’s export containership market with respect export volumes volumes export volumes volumes from Port fleet capacity to 2Q19 Jan-J
Slide 5: SAAM's Response to Pandemic
SAAM’S RESPONSE TO PANDEMIC FOCUS ON PROTECTING WORKER CONTINUITY AND SAFETY FINANCIAL RESILIENCE WITH HEALTH, SAFETY AND WELLBEING ACROSS ALL OPERATIONS A ROBUST CAPITAL STRUCTURE • Crisis Committee • Commitment to foreign trade and the • Solid results 1H2020 supply chain • Positive impact of excha
Slide 6: Highlights 2Q2020
2Q2020 (MUS$) HIGHLIGHTS 2Q2020 Revenue MUS$143.5 +15% • Operational continuity • Corporate bond issuance: UF1,200,000 (MUS$42) EBITDA • Shipping industry slightly affected despite COVID-19 effects MUS$56.5 +33% EBITDA Margin 39% Net Income • Solid results and limited impact of COVID-19 MUS$14.3 +9%
Slide 7: 02 2Q2020 Results
(w) afsaam. 02 292020 RESULTS
Slide 8: Operational Continuity and Solid Results
REVENUE 1H2020 OPERATIONAL CONTINUITY AND SOLID RESULTS 8% 44% 48% Towage Port Terminals Logistics EBITDA 1H2020 4% 54% 43% 53% 8
Slide 9: Broad Geographic Diversification
BROAD GEOGRAPHIC DIVERSIFICATION • Operations in 12 countries in the Americas • ~80% of revenue generated in US dollars CANADA • 10 Port Terminals in 6 countries in the Americas PORT TERMINALS • Towage Division operates in 9 countries TOWAGE U.S.A. • Logistics Services in 4 countries LOGISTICS MEXIC
Slide 10: Net Income for the Period 2Q2020 / 2Q2019
NET INCOME FOR THE PERIOD NET INCOME ThUS$ 2Q2020 / 2Q2019 Change in Net Income SM SAAM 2Q2020 vs 2Q2019 Δ= ThUS$424 (-3%) 10
Slide 11: Net Income for the Period 1H2020 / 1H2019
NET INCOME FOR THE PERIOD NET INCOME ThUS$ 1H2020 / 1H2019 Change in Net Income SM SAAM 1H2020 vs 1H2019 Δ= ThUS$-3,538 (-11%) 11
Slide 12: Liquidity Position
HEALTHY FINANCIAL RATIOS AND DEBT MATURITY PROFILE LIQUIDITY POSITION ( J U N E 2 0 2 0 , M U S $ ) (3) 191 Rating AA- Stable Outlook 51 H serie bond Rating AA- Stable Outlook 108 140 77 55 82 48 LEVERAGE RATIO(1) 2020 2021 2022 2023 2024 >2025 Covenant NET FINANCIAL DEBT PROFORMA 1,20x 0,42 0,4
Slide 13: Towage Division
TOWAGE DIVISION wa7saam. “CANADA (#) P 2 4 se MEXICO (#) fn A GUATEMALA it) -cosTaRica = . A 4 _*PANAM! 4s _* ECUADOR e BRASIL © ~uruGuay £5 — saRGentinacy &
Slide 14: Towage: Strong Results in a Challenging Context
TOWAGE: STRONG RESULTS IN A CHALLENGING CONTEXT Revenue 1H2020 (4) • Full consolidation (100%) of Brazil, Canada, Mexico and Panama as of November 2019 North • Increase in special services and salvage America South 31% • Cost efficiencies in fuel, maintenance and subcontracting America 55% Central A
Slide 15: Intertug Acquisition Agreement
INTERTUG ACQUISITION AGREEMENT Intertug at a Glance International Presence • 25 years’ experience providing harbour towage, offshore and special services (1) • Operations at 10 port terminals in 3 countries • Investment Master Agreement: SAAM acquires 70% of the Intertug companies related to its bus
Slide 16: Port Terminals Division
PORT TERMINALS DIVISION a7saam. “ANTOFAGASTA Chile «SAN ANTONIO Chile “SAN VICENTE Chile
Slide 17: Port Terminals: Lower Volumes Due to COVID-19
PV REVENUE 1H2020 (1) PORT TERMINALS: LOWER VOLUMES Central DUE TO COVID-19 America North 10% America Chile • Chilean port terminals saw 18% drop in throughput in 2Q 16% 42% • Foreign port terminals saw 10% drop in throughput in 2Q South • Port closures in Chile in June due to heavy swells America •
Slide 18: Logistics Division
LOGISTICS DIVISION a@saam. CHILE + Iquique + Santiago * San Antonio + San Vicente * Puerto Montt + Puerta Chacabuco * Punta Arenas + Reloncavt COLOMBIA * Cartagena de Indias + Bogotd + Medellin San Andres + Pereira * Barranquilla ECUADOR + Quito URUGUAY + Colonia
Slide 19: Logistics: New Contracts and Efficiencies Offset Effects of COVID-19
LOGISTICS: NEW CONTRACTS AND EFFICIENCIES OFFSET EFFECTS OF COVID-19 Logística Chile: Aerosan: Increased business at bonded warehouses -30% import volumes due to public health crisis because of new contracts +5% export volumes Retail imports down 30% Exchange differences CONSOLIDATED (1) T
Slide 20: Outlook: Diversification, Our Major Strength
03_ OUTLOOK: DIVERSIFICATION, OUR MAJOR STRENGTH
Slide 21: Sound Financial Position in Uncertain Context
SOUND FINANCIAL POSITION IN UNCERTAIN CONTEXT • New corporate bond issuance: UF 1,400,000 (MUS$50.6) • Operational continuity • Focus on liquidity • Uncertainty about economic effects of public health crisis • Effects of COVID-19: Blank sailings, capacity withdrawals and reduced volumes will affect
Slide 22: Diversification, Healthy Indicators and Cost Efficiency
DIVERSIFICATION, Largest tug operator in the HEALTHY Americas (3rd worldwide) INDICATORS AND Healthy Consolidated COST EFFICIENCY: financial ratios and liquidity portfolio in Port Terminals RESILIENCE IN position and Logistics divisions RESPONSE TO CRISIS Broad geographic Commitment diversification
Slide 23: Questions
04_ QUESTIONS