Corporate Presentation July, 2016 www.saam.com www.saam.com 1
SAAM at a glance • A Worlwide company present in 84 ports distributed in 15 countries in the Americas. • Established in 1961. • Headquarters in Chile. • 2015 FY revenues USD748 (1) million, EBITDA USD203 (1) million. • Market Cap of US$778 million. • More than 10,000 employees. • Local Long Term Credit Ratings of AA- from Humphreys and Feller. www.saam.com www.saam.com 2 (1) Consolidated + Affiliates at proportional value (weighted by ownership)
Worldwide Company present in 15 countries Port Towage Logistics Terminals Port Terminals Towage 11 Logistics 188 (1) +173 ha. Terminals Tugboats Warehouses and Support Areas New Tugboats Incorporation of New Intermodal Canada, Panama, Brazil, Terminal Internacional Terminal in Iquique, Peru and Chile del SUR (TISUR), Peru Chile Fourth global Second Major port Operator in towage operator South America (1) 7 tugboats under construction and one on route to destination, including SST. www.saam.com www.saam.com 3
Ownership Structure Luksic Group SAAM Shareholders SMSAAM is Controlled by Luksic Group, one of Chile’s leading economic groups. 65% 81% Others (retail) Quiñenco 21,3% (Luksic Group) Foreign 50,8% 5,7% Other Industrial / Mining Institutional Financial Services 10,7% Pension Market Capitalization Transoceánic Funds Market Capitalization US$ 4.9 billion (1) a (Schiess 6,3% US$ 2.7 billion (1) Group) 5,1% Market Cap MUSD 726 Free Float 45.1% www.saam.com www.saam.com 4 (1) Market Capitalization as of January 19, 2016
Quiñenco: Main Operating Companies % Control as of October 2015 51.2% 60.0% 28.6% (2) 100% 50,9% (5) 56.0% 65.9% Mkt. Cap (1) : Mkt. Cap (1) : Mkt. Cap (1) : Mkt. Cap (1) : Book Value (4) : Mkt. Cap (1) : Mkt. Cap (1) : CSAV US$0.6 B US$ 9.1 B US$ 3.5 B US$ 1.5 B US$ 0.8 B US$0.6 B US$ 0.1 B HL (3): US$5.2 B • 1st bank in • No.1 Chilean • Global leading • No.2 retail • Leading port, • Main business • Regional Chile in net beer producer French cable distributor of cargo & shipping is container manufacturer income and manufacturer, fuels in Chile services shipping, of flexible • Main beverage profitability with presence with 451 company: port which has been packaging producer in in 40 countries service concessions, tug merged with products • Jointly Chile and business stations and boats, and HapagLloyd, controlled with • 2nd largest activities 120 logistics becoming the Citigroup beer producer throughout the convenience 4th largest • Largest port in Argentina world. stores container operator in shipping • Jointly • Shell licensee South America company controlled with in Chile • 4th largest tug worldwide Heineken boat company worldwide (1) Market Capitalization as of January 19, 2016 (2) Corresponds to Invexans ’ stake in Nexans as of June 30, 2015. Quiñenco’s stake in Invexans was 98.3% as of June 30, 2015. Invexans ’ market cap as of October 30, 2015 was US$325 million (3) Hapag- Lloyd’s book value of equity as of December 31, 2014. CSAV has a 34% stake in Hapag-Lloyd www.saam.com www.saam.com 5 (4) Book value as of June 30, 2015. (5) Ownership as of April 2016
SAAM share price has outperformed IPSA Index in the last 2 years YTD 2016 Cumulative Total Return (Gross Dividends 30-12-2015 / 22-07-2016) SMSAAM (USD) IPSA (USD) IGPA SMALL US MSCI Latin America (USD) MSCI Latin America Small Cap (USD) 140 130 120 110 100 90 80 Dividend Yield 4.5% 5% 4.2% 4% • Listed in Santiago Stock Exchange since 2012 3.1% 3% 4th year in IPSA (Selective Stock Price Index, 40 • 2% companies with the highest market presence on Santiago 1% Exchange) 0% • Market Cap of US$778 million 2013 2014 2015 www.saam.com www.saam.com 6 Strong Dividend Yield •
Wide Geographic and Business diversification 2015 Business Diversification 2015 Revenues (*) EBITDA (*) EBITDA Mg (*) US$ Million US$ Million SMSAAM 748 203 27% Port Terminals 244 71 29% Towage 280 102 37% Logistics 224 29 13% Wide Geographic Diversification 2015 Revenues (*) EBITDA (*) Chile 45% 33% North America 18% 22% South America (*) 33% 39% Central America 4% 6% (*)South America ex Chile www.saam.com www.saam.com 7 (*) Consolidated + Affiliates at proportional value (weighted by ownership)
Financial consistency and stability Revenue (US$ million) EBITDA (US$ million) & EBITDA Margin (%) 27,1% 23,9% 22,7% 22,2% 775 748 726 694 203 283 247 322 246 185 165 154 77 111 479 492 448 426 71 65 108 89 94 92 2012 2013 2014 2015 Consolidated Affiliates 2012 2013 2014 2015 Consolidated Affiliates EBITDA Margin Net Income (US$ million) & Net Margin (%) Net Debt (US$ million) & Net Debt/EBITDA (x) 1,4x 16,2% 15,4% 13,3% 12,4% 1,3x 74 69 1,2x 1,2x 61 60 248 234 226 184 89 84 149 69 142 145 115 98 2012 2013 2014 2015 2012 2013 2014 2015 Net Income Net Margin Consolidated Affiliates Net Debt/EBITDA (x) www.saam.com www.saam.com 8
Port Terminals Division www.saam.com www.saam.com
11 Port Terminals, including STI the leading port of Chile Chile (26,2 million tons transferred) Foreign (5,2 million Tons transferred) Antofagasta Terminal Terminal Puerto Iquique Terminal Florida International Terminal Marítimo Internacional S.A. Arica S.A. Internacional S.A. Mazatlán, México Terminal (70% SAAM) (100% SAAM) (35% SAAM) (15% SAAM) (85% SAAM) ( Terminal Portuario de Puerto Buenavista S.A. Colombia Guayaquil, Ecuador (33,3% SAAM) (100% SAAM) San Antonio Terminal San Vicente Terminal Portuaria Corral S.A. Internacional S.A. Internacional S.A. (50% SAAM) Terminal (50% SAAM) (50% SAAM) Internacional del Sur S.A. Perú www.saam.com www.saam.com (35% SAAM)
A leading Port Operator in South America 2014 Total TEUs Transferred Ranking Company Main Terminal Operations (thousands) 1 DP World 2,486 Callao, Buenos Aires, Suriname, Santos 2 SAAM 2,426 (*) San Antonio, San Vicente, Iquique, Antofagasta 3 Grupo Ultramar 2,280 Arica, Valparaíso, Mejillones, Coronel, Coquimbo,…. 4 APM Terminals 2,117 Buenos Aires, Itajaí, Callao, Santos, Pecém Terminal Investment 5 2,116 Navegantes, Santos, Buenos Aires, Callao Limited 6 Contecar (SPRC) 1,607 Cartagena (Colombia) 7 ICTSI 1,504 Guayaquil, Suape 8 Santos Brasil 1,462 Santos, Imbituba, Vila Do Conde 9 Wilson&Sons 955 Rio Grande, Salvador 10 Libra Terminais 871 Rio de Janeiro, Santos (*) Does not consider TEU trasferred by TISUR, Peru. www.saam.com www.saam.com 11
Long Term and high standards infrastructure Ports Country Terminal Share Tons 2015 Dock Dock Area End of Extension Holding Thousands Length (m) Draft (m) (ha) Concession Option Extended Chile STI 50% 12,909 800 13.5 30.5 2024 .+ 5 Years Chile SVTI 50% 5,515 600 12.2 40.9 2029 Extended --- Perú TISUR 35% 3,816 848 15.0 34.8 2029 --- Chile TPA 15% 3,068 1130 12.5 24.9 2034 Extended Chile ATI 35% 2,272 575 12.0 15.7 2033 Extended Ecuador TPG 100% 2,275 360 12.0 11.0 2046 Extended Chile ITI 85% 2,061 624 11.4 13.5 2030 Extended Renewed USA FIT 70% 1,089 1,402 12.8 16.6 2025 +5 Years +5 Years México TMAZ 100% 677 1,296 11.0 15.2 2032 .+ 12 Years --- Chile Corral 50% 622 146 12.0 7.4 Private --- --- Colombia PBV 33% 296 211 10.5 6.2 Private --- EBITDA Distribution 2015 Tons’ Distribution 2015 Chile Container 75% 78% Ecuador 15% Others México 5% 4% EEUU 6% Bulk www.saam.com www.saam.com 12 17% Note: Based on consolidated EBITDA and affiliates at Note: Total Tons transferred in 2015 proportional value (weighted by ownership)
Towage Division www.saam.com www.saam.com
Towage: safety, efficiency and leadership • Fourth Global Tugboat Operator North America • 188(*) Tugboats, 70% are ASD tugboats • High profitability; average EBITDA Mg of 37% • 115,456 Maneuvers in 2015 • Presence in 12 Countries, in over 76 Ports • 2015 FY revenues USD279 million, EBITDA USD102 million (*) includes 4 tugboats under construction South America Financial Highlights (US$ million) Revenues EBITDA CAGR 12-15A : 10.1% CAGR 12-15A : 19.3% 284 280 102 236 210 87 66 91 32 66 60 30 40 20 10 9 218 204 180 189 67 62 51 56 2012 2013 2014 2015 2012 2013 2014 2015 Consolidated Affiliates Consolidated Affiliates www.saam.com www.saam.com 14
Logistics Division www.saam.com www.saam.com
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