saam in ecuador2017/09/06 · • saam provides port and offshore towage services, port terminal...
TRANSCRIPT
SAAM IN ECUADOR
June 13, 2017
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 or implied, are made as to, and no reliance should be placed on, the
accuracy, fairness or completeness of the information presented or contained herein. Neither SMSAAM nor any of
its related companies, advisers or representatives, accepts any responsibility whatsoever for any loss or damage
arising from any information presented or contained in this presentation nor do they make any undertaking to
update any such information subsequent to the date hereof.
Each investor must conduct and rely on its own evaluation when making an investment decision; this presentation
does not constitute legal tax or investment advice.
This presentation does not constitute an offer or invitation or solicitation of an offer, to subscribe or purchase any
shares or securities. Neither this presentation nor anything contained herein shall constitute the basis of any
agreement, contract or commitment whatsoever
DISCLAIMER
AGENDA
1. SAAM AT A GLANCE
2. 55 YEARS OF TRAJECTORY
3. STRATEGIC PILLARS
4. SAAM IN ECUADOR
5. TERMINAL PORTUARIO GUAYAQUIL
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• SAAM provides port and offshore towage services, port terminal
and logistics services
• Present in more than 70 ports and in 13 countries in the Americas
• Quoted on the Santiago Stock Exchange, with a trajectory of 55
years and a Market Cap of USD901 million(2)
• Controlled by Quiñenco with 52,2% ownership
Highlights
1. SAAM AT A GLANCE (1)
• Major tugboat operator in the Americas
• Present in 10 countries
Business Units
• Operates in 6 countries through 11 port terminals
• Warehousing, Transport and Airlines & Shipping Services
(1) Compañías filiales al 100% más coligadas a su valor proporcional (2) 5 Junio 2017
Towage 49%
Port Terminals 44%
Logistics 7%
Chile 40%
South America (ex Chile)
36%
North America 18%
Central America 6%
MUS$ 205 MUS$ 205
EBITDA 2016 BUSINESS DISTRIBUTION
EBITDA 2016 GEOGRAPHIC DIVERSIFICATION
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(1) Subsidiaries at 100% and affiliates at their proportional value (2) Volumes at 100% of subsidiaries and affiliates
US$ 717 million
REVENUES (1)
-4% with respect
to 2015
US$ 205 million
EBITDA (1)
+1% with respect
to 2015
29%
EBITDA MG (1)
+2 pp with
respect to
2015
US$115 million
CAPEX (1)
-2% with respect
to 2015
US$54.5 million
PROFIT (1)
+5.6 % with respect to
respecto 2015 not considering non-recurring profit 2015
38.5 Million
TONS TRANSFERRED (1)
+22% with respect
to 2015
$2 per share
DIVIDEND
54.38% of
distributed net
income
113,474
TUGBOAT MANEUVERS (2)
-1,7% with respect
to 2015
11,340
WORKERS (2)
+8% with respect
to 2015
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1. SAAM AT A GLANCE
AGENDA
1. SAAM EN UNA MIRADA
2. 55 YEARS OF TRAJECTORY
3. STRATEGIC PILLARS
4. SAAM IN ECUADOR
5. TERMINAL PORTUARIO GUAYAQUIL
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2. TRAJECTORY OF OVER 55 YEARS PROVIDING SERVICES TO FOREIGN TRADE
1961
1992
1994
2005 1996
2006
Constitution
of SAAM
Peru and Colombia:
SAAM’s
Internationalization
Uruguay: Start
of operations
Mexico: Start of
operations
Chile: Concession of
STI and SVTI port
terminals
Chile:
Concesión of
ITI terminal
Chile: Concession
of ATI terminal
• Brazil: Tugbrasil start of operations
• USA: FIT start of operations
• TPG Start of operations in Ecuador
• Start of operations in
Guatemala and Costa Rica
1999
2000
2003
1995
Start of
operations in
Ecuador
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2. TRAJECTORY OF OVER 55 YEARS PROVIDING SERVICES TO FOREIGN TRADE
Spin off from CSAV
Creation of SM SAAM
• USA: Contract renewal of FIT
concession
• México: Renewal of tugboats
concession
• Chile: SVTI and STI infrastructure extensions
• 2013-2017 Fleet renovation plan completed
• Incorporation to Dow Jones Sustainability Index
(DJSI)
• Canada, Mexico, Brazil and Panama:
Start joint venture with SMIT Boskalis
• Chile: Extension of ATI concession
2012
2013
2014 2016
2015 2017
• Incorporation to IPSA
• Ecuador: Start of Aronem
operations
• Chile: Extension of ITI and
STI port concessions
• Costa Rica: Acquisition of 51% of
Puerto Caldera
• Ecuador: Start of Hamburg project
• Peru: Sale of Tramarsa group stake
• Chile: Acquisition of 15% of ITI
• First bond issuance in local market
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AGENDA
1. SAAM AT A GLANCE
2. 55 YEARS OF TRAJECTORY
3. STRATEGIC PILLARS
4. SAAM IN ECUADOR
5. TERMINAL PORTUARIO GUAYAQUIL
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3. OPERATIONAL EXCELLENCE
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• Operational Excellence Project (Infrastructure, Maintenance and
Operations)
• Strengthening labor relations in port terminals
• Occupational Health and Safety
• Implementation of Corporate Procurement
• Search for and retention of talents
• Renewing and extending key concessions and contracts
• Working more closely with our clients
• Maintaining our profitability despite the pressure on margins
• Redefining of Logistics business strategy
• Investments for US$500 million in the past 4 years (2014-2017)
• Sound strategical alliances
3. STRENGTHENING OUR CURRENT BUSINESSES
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3. GROWTH AND DIVERSIFICATION
• Explore and develop new business opportunities
• Focus on assets with controlling positions
• Continue our diversification strategy
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40.3%
44.7%
46.0%
53.6%
8.7%
11.1%
21.7%
20.2%
5.0%
3.9%
3.6%
2.6%
46.0%
40.3%
28.7%
23.6%
2016
2015
2014
2013
Chile North America Central America South America
» Geographic breakdown of net income (%)
3. INCORPORATION OF SUSTAINABILITY TO OUR BUSINESSES’ MANAGEMENT
1) To Create value for
the company and society
is our inspiration.
2) To build mutual
cooperation relationships
with our workers is a
priority.
3) Safety is first and it
is a non-negotiable
value for us.
4) Our values and
business ethics guide
our actions.
5)Seeking excellence to exceed
the expectations of our
stakeholders is our responsibility.
6) Care of the environment and
prevention of negative impacts is
an integral part of our business.
7) To contribute to a
more prosperous and
strengthened society is a
constant challenge.
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AGENDA
1. SAAM AT A GLANCE
2. 55 YEARS OF TRAJECTORY
3. STRATEGIC PILLARS
4. SAAM IN ECUADOR
5. TERMINAL PORTUARIO GUAYAQUIL
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(1995-2017) SAAM IN ECUADOR
Terminal Portuario Guayaquil
PORT TERMINALS
Ecuaestibas
TOWAGE
Aronem
LOGISTICS
Since 2006 Since 1995 Since 2013
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Company TERMINAL PORTUARIO GUAYAQUIL ECUAESTIBAS ARONEM
SAAM Ownership % 100% 100% 40%
Services Private Port
Operation Contract for 50 Years
7 tugboats. Services: docking
and undocking of vessels,
towage and salvage towing
Airport services and processing
of air freight for export cargo
Locations Guayaquil
Guayaquil
Puerto Bolivar
Manta
Esmeraldas
Terminal Especializado
Monteverde
Aeropuerto Internacional
Mariscal Sucre, Quito
CAPEX (last 6 years) US$ 81.4 million US$ 7.0 million US$ 1.2 million
Workers 639 192 87
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AGENDA
1. SAAM AT A GLANCE
2. 55 YEARS OF TRAJECTORY
3. STRATEGIC PILLARS
4. SAAM IN ECUADOR
5. TERMINAL PORTUARIO GUAYAQUIL (TPG)
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TERMINAL PORTUARIO GUAYAQUIL
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5. TERMINAL PORTUARIO GUAYAQUIL - HISTORY
2006 2007 2011 Inicio Operaciones Extensión Muelle Nuevas Grúas STS
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2017 New STS Latest Technology Cranes
2016 120 meters
Dock Extension
QUITO
PUERTO DE
GUAYAQUIL
PUERTO
BOLÍVAR
PUERTO
DE MANTA
ECUADOR
PUERTO
DE ESMERALDAS
Bananas
Shrimps
Cocoa
5. TERMINAL PORTUARIO GUAYAQUIL- PORTS
Ports in Ecuador (1,907,390 TEUs)(1)
Ports in Guayaquil (1,821,654 TEUs)(1)
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(1) Data: 2016
72% of exports originate
in Guayaquil
52% of Guayaquil
exports correspond to
Bananas
41% of industries in
Ecuador are located in
Guayaquil
5. TPG AT A GLANCE
• Private Terminal (2006 – 2056): Leased and own land
• Strategic locations at only 10 km of downtown Guayaquil
• Container cargo: bananas, shrimps and cocoa for export; retail imports
General Description
Volume (containers, thousands)
181 173 204
184
128
2012 2013 2014 2015 2016
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5. CONNECTING GUAYAQUIL WITH THE WORLD
Services:
Mediterráneo (MSW)
Mediterráneo (MED)
Asia (AME1)
Asia (WSA2)
Europa del Norte
Shipping Companies:
Hapag-Lloyd
Hamburg Sud
CMA-CGM
MSC
Evergreen
WAN HAI
8 services and 7 shipping companies
Connections with
22 countries
Connections with
4 continentes
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Services:
Conosur
Shipping companies:
Hapag-Lloyd
Hamburg Sud
Services:
Mediterráneo (MED)
Américas
Shipping companies:
CMA-CGM
Hapag-Lloyd
Hamburg Sud
Services:
Europa del Norte
Shipping Companies:
Hapag-Lloyd
Hamburg Sud
CMA-CGM
MSC
Services:
Asia (AME1)
Asia (WSA2)
Shipping
Companies
Hapag-Lloyd
Hamburg Sud
CMA-CGM
MSC
Evergreen
WAN HAI
Cosco
Characteristics TPG TPG +
Infrastructure
Extension
Dock 360 meters 480 meters
STS Cranes 2 4
RTG Cranes 3 8
Support Areas 17.4 ha 22.2
Terminal Container Multipurpose
LT Lease 2056 2056
Capex
(2016-2017)
US$60 million
Workers 474 639
5. EXTENSIONS IN INFRASTRUCTURE
TPG W/O Extensión 17 ,2 has
Triniport 4,7 has
Dock Extension 120 m
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5. TPG PERSPECTIVES FOR 2017
• a60 million dollars in infrastructure expansion
• aIncorporation of new bulk grain terminal - Trinipuerto
• A3x cargo transfers
• +165 new working positions
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