SAAM, a supplier of port, towage and logistics providers in 14 nations within the Americas, reported constructive outcomes for the primary quarter of 2022. The corporate had internet revenue of US$23 million, up 33% with respect to the identical interval final 12 months, whereas gross sales and EBITDA reached US$202.2 million (+20%) and US$71 million (+14%), respectively.
“We carried out nicely throughout all divisions, pushed primarily by the Logistics and Port Terminals divisions. Though we’ve seen a sure development of sluggish exercise in some markets, together with price pressures from gas and total inflation, our service combine and enterprise diversification have enabled us to spice up income and keep aggressive and worthwhile, whereas offsetting the elevated start-up prices from the brand new operations within the Towage Division,” defined SAAM CEO Macario Valdés.
The manager significantly highlighted the settlement closed this week to buy the towage belongings operated by Starnav in Brazil. Valued at US$150 million, the deal will add 17 new models to SAAM Towage’s fleet, plus a further 4 tugs presently below building will likely be bought for US$48 million.
The transaction is in step with SAAM’s technique of main the method to develop its operations on this business, the place it’s the third largest operator worldwide. It comes on the again of one other settlement to accumulate the towage enterprise operated by Ian Taylor in Peru and the already accomplished buy from Canadian firms Normal Towing and DaviesTugboats.
Different milestones for the interval embody Humphreys and Feller Price upgrading the corporate’s bond ranking to AA and shareholders approving a report dividend of US$47.2 million.
By way of sustainability, the corporate revealed its Annual Built-in Report and signed an alliance between SAAM Towage Canada and Coast Tsimshian First Nations.