Sociedad Matriz SAAM (SMSAAM) Q2 2025 earnings summary

Executive summary

• Consolidated revenues reached US$154.1 million in 2Q25, up 7% year-over-year, with EBITDA of US$50.9 million, also up 7% year-over-year.

• Net income attributable to the controlling interest was US$21.8 million in 2Q25, a 142% increase year-over-year.

• Strong operational performance in towage and air logistics, with contract wins and sustainability recognition.

• Growth was driven by contract renewals, increased special services, and operational improvements despite a volatile environment.

Financial highlights

• 2Q25 revenues increased 7% year-over-year to US$154.1 million; 1H25 revenues up 7% to US$302.1 million.

• EBITDA margin was 33.0% in 2Q25; 1H25 EBITDA margin improved to 33.2%.

• Net income for 2Q25 rose 151% year-over-year to US$23.0 million; 1H25 net income up 29% to US$40.1 million.

• Total assets increased by 2% to US$1.83 billion as of June 2025.

• Cost of sales and administrative expenses increased in line with revenue growth.

Outlook and guidance

• Investment plan of approximately US$80 million focused on new towboats, major vessel maintenance, and sustainability projects.

• Continued pursuit of inorganic growth opportunities and participation in tenders for organic expansion.

• New contracts in Peru and Brazil offsetting volume declines from contract terminations in Honduras.

• Ongoing market volatility in Chile's export sector noted.