SAAM, a world-class towage provider, achieved its highest-ever net income of US$501 million in 2023, primarily attributed to the sale of its port and logistics assets to Hapag-Lloyd.
This transaction resulted in a net gain of US$422 million. Total sales for the year amounted to US$540 million, marking a 17% increase compared to the previous year. Additionally, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached US$160 million, surpassing the prior year by 9%.
“The sale of our port terminal and inland logistics operations leaves us in a solid position to
move forward on the path we have set for ourselves: to lead the consolidation process in
the towage industry and grow in air cargo logistics services. Likewise, throughout 2023 our
continuing operations posted solid results and we were able to continue our path of growth,” mentioned Macario Valdés, CEO of SAAM.
SAAM Towage boasts operations across 13 countries and nearly 100 ports throughout the Americas, solidifying its position as the foremost operator in the region. In addition, Aerosan maintains operations in eight airports across Chile, Colombia, and Ecuador.
Furthermore, the company’s Board of Directors agreed to propose to shareholders at the annual general meeting a dividend of US$125 million, in addition to the interim dividend distributed in January 2024. In total, the two dividends are equivalent to 50% of net income for the period and, if approved, will be the largest dividend distributed in the company’s history.
