SAAM has reported a net income from continuing operations of $59.2 million, EBITDA of $188 million (+17 per cent from 2023) and revenue of $578 million (+7 per cent) for 2024.
During the year, SAAM completed integrating the assets acquired from Starnav in Brazil and Pertraly in Ecuador. It also reported net income from discontinued operations of $479 million from its port terminal and inland logistics operations sold in August 2023.
The company also reported that the Board of Directors agreed to propose a dividend of $39.2 million to shareholders at the annual general meeting, in addition to the interim dividend of $20 million distributed in December 2024.
SAAM Towage boasted record results, with sales of $483 million and EBITDA of $163 million. Operations in this segment remained stable compared to 2023, mainly due to growth in Brazil and Canada, which offset lower volumes in Panama and Chile.
Time charter days – associated with dedicated towage services at oil, gas and mining terminals – increased by 13 per cent because of contracts in Brazil and St. Croix.
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“Overall, the year 2024 was positive,” said SAAM’s CEO, Macario Valdés.
“We continued to move forward with our strategy to consolidate our leadership in the towage industry and position ourselves as one of the main air cargo logistics providers in the region. Not only did we complete the process of integrating new assets, but we also worked hard to strengthen our internal capabilities, which will allow us to continue growing in the future.”
