CSAV generated operating income of $8.m in 2012 Q4, which represents an improvement with respect to the loss of $158.1m in the same period of 2011, and therefore has reported two consecutive quarters of positive operating income, taking into account that in 2012 Q3 it reported earnings of $37.3m.
This “positive change in the operating result in the second half of last year explains the recovery in net earnings”, said the statement.
The Latin American liner company said the results reflected an improvement in market conditions and to a large degree, the effects of the operational, financial and corporate restructuring imposed by the company since 2011 that reduced containership carrying capacity, increased joint operations, and the increase in own fleet and a new organisational structure.
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