Chilean logistics firm SAAM sees profits rise to $54.5m in 2016

According to the company’s annual report, sales dropped 4.4%, to $ 717m, while Ebitda rose by 1%, to $205m.

SAAM, which is listed on the Santiago Stock Exchange, was the logistics arm of the liner CSAV. The group operates 12 terminals in joint ventures or alone, is present as a logistics company in five countries and operates 177 tugs.

During the year of 2016, new docks were inaugurated in San Vicente Terminal International (SVTI) and in Terminal Internacional del Sur (Tisur) in Peru; the extension works in Terminal Portuario Guayaquil (TPG) in Ecuador, and the acquisition of eight new tugboats.

“We are facing a restrictive cycle in our regional economy. However, thanks to the diversification of our portfolio, a proper commercial strategy and the commitment of our employees, we have been able to offset the fall shown by some markets and to strengthen others such as Peru and Central America”, stated Macario Valdés, SAAM’s ceo.

The company performance during 2016 is already reflected in significant progress during the first quarter of 2017, following the the acquisition of 51% of Puerto Caldera in Costa Rica –with which SAAM has twelve port terminals in the Americas.

“All these steps go in line with the strategy we have set for ourselves: to grow in a sustainable manner, jointly with recognised partners, with a solid financial position, stable returns and consolidating our leadership in the region,” Valdés added.