SAAM has announced strong results for its ongoing operations in the third quarter, with revenue of $427 million (+8 per cent) and EBITDA of $137 million (+14 per cent).
The net income from ongoing operations was $43 million for the nine months ending September.
In the third quarter, sales was $143 million (+4 per cent), EBITDA was $47 million (+14 per cent), and net income was $12 million.
SAAM CEO, Macario Valdés, said: “Our towage division is continuing to consolidate recently acquired operations and has performed steadily, even with the greater weather challenges and cost increases we have faced. Meanwhile, our air cargo logistics business performed well thanks to new operations in Ecuador and greater export activity.”
READ: SAAM Terminals cuts CO2 emissions by 10,500 tonnes in 2023
SAAM Towage’s movements increased by 2 per cent compared to the first nine months of 2023, due to newly added tugs in Brazil, but were offset by less dynamic markets in Central America and Chile.
Time charter days, which are connected with specialised towage services at oil, gas, and mining ports, increased by 16 per cent over the period, owing mostly to new contracts in Brazil and the Virgin Islands.
Finally, Aerosan’s tonnage handled showed a robust comeback, climbing 29 per cent, which can be attributed to new operations in Ecuador and increased activity earlier this year.
In September, SAAM Terminals revealed that all of its Chilean terminals certified their carbon emissions measurement and reduction in 2023.
