EARNINGS PRESENTATION
1Q24
LEGAL DISCLAIMER
Forward-looking statements in this document concerning business prospects and growth of
Santos Brasil Participações S.A. and its controlled companies are merely projections, exclusively based on expectations essentially dependent on future market conditions, globally and in Brazil, and should not be regarded as binding upon the Company. Therefore, should not be regarded as a recommendation for any investment, being necessary that investors analyze and evaluate before any decision.
The words believe, may, will, estimate, continue, anticipate, intend, expectand similarwords are intended to identify estimates and forward-looking statements, that speak only as of the date they were made. The Company does not undertake the obligation to update or to review any estimate and/or forward-looking statement because of new information, future events or other factors. Estimates and forward-looking statements involve risks and uncertainties and are not guarantees of future performance.
Santos Brasil
2
ESG INITIATIVES
RESPECT FOR THE ENVIRONMENT, OPERATIONAL SAFETY AND HUMAN DEVELOPMENT
Recognized by GPTW for
the 6th year in a row!
Santos Brasil was once again recognized in GPTW ranking as one of the best companies to work for.
The Port is Hers
First edition of the 100% female
workshop exclusively for
executives working on the port sector to discuss ESG topics.
Diversity and | We are part of ISE-B3 |
Inclusion Census | again! |
The Diversity and Inclusion | Index demonstrates Santos |
Census was sent to all | Brasil's commitment to |
employees to prepare action | promoting sustainable practices |
plans. | that ensure business longevity. |
Santos Brasil | 3 |
OPERATIONAL INDICATORS
OPERATIONAL INDICATORS
RECOVERY OF DEMAND IN THE MAIN FLOWS AND BEGINNING OF NEW SERVICES
Container throughput (thousand containers)
Tecon Vila do Conde | Consolidated | |
Tecon Santos
Tecon Santos:
Tecon Santos
Tecon Imbituba
+27% YoY
333 | |
262 | |
1Q23 | 1Q24 |
Tecon Vila do Conde
+11% YoY
21 | 23 |
1Q23 | 1Q24 |
+29% YoY
296 | |
230 | |
1Q23 | 1Q24 |
Tecon Imbituba
+27% YoY
11 | 14 |
1Q23 | 1Q24 |
- +31% YoY in Long Haul and +17% YoY in Cabotage.
- +26% YoY in imports: higher volumes of plastics and chemicals.
- +15% in exports: increased shipments of coffee, sugar, frozen meat, and cotton.
- New services: MSC and ZIM (Long-Haul) and Norcoast (Cabotage).
- Market share: 39.1% (vs. 37.1% no 1T23).
Tecon Vila do Conde:
- +2% YoY in Long-Haul:+16% YoY in exports, especially of extractive industry products.
- +23% YoY in Cabotage, driven by increased demand for beverages and steel.
Tecon Imbituba:
- Normalization of Cabotage volumes.
- New service: CMA CGM (Long-Haul).
Santos Brasil
5
OPERATIONAL INDICATORS
RECOVERY IN BONDED WAREHOUSING, BUT WITH IMPACTS ON OTHER UNITS OF THE AUTOMOTIVE SECTOR
Santos Brasil Logística (thousand containers and thousand pallets)
Bonded Warehouses
+9% YoY
15 | 17 |
1Q23 | 1Q24 |
Distribution Centers
-40% YoY | |
282 | |
170 | |
1Q23 | 1Q24 |
Bonded Warehouses:
- Result driven by the resumption of imports at the Port of Santos, with increased capture base for volumes.
Distribution Centers:
- Performance explained by the logistical reorganization of a client in the automotive sector
Vehicle handled (000 vehicles) and general cargo (tons)
Vehicle Terminal (TEV) | TCG Imbituba |
TEV:
TEV | 55 | -27% YoY |
CLIAs¹ Santos e Guarujá | 40 | |
CDs SBC e Imigrantes | ||
TCG Imbituba | ||
1Q23 | 1Q24 |
+85% YoY
35 | |
19 | |
1Q23 | 1Q24 |
- -28%YoY in exports, resulting from reduced shipments to South American countries.
- -11%YoY in imports, still due to subdued domestic consumption.
TCG Imbituba:
- Performance explained by increased volumes of soda ash and sodium sulfate.
Santos Brasil ¹ Centros Logísticos Industriais e Aduaneiros.
6
FINANCIAL INDICATORS
CONSOLITED PERMORMANCE
A NEW QUARTER OF SOLID GROWTH IN ECONOMIC AND FINANCIAL RESULTS
Financial highlights (R$ million)
+50% | Gross Revenue | |||
YoY | ||||
760 | 735 | |||
577 | 603 | |||
489 | ||||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
+51% | Net Revenue |
YoY | |
667 | 645 | |||
507 | 534 | |||
427 | ||||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
+110% EBITDA and EBITDA Margin
YoY
55% | 50% | |||
44% | 48% | |||
36% | 367 | |||
321 | ||||
222 | 258 | |||
153 | ||||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
+222% | Net Income |
YoY | |
139 | 225 | 148 | ||
46 | 94 | |||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
Highlights:
- Container and General Cargo Terminals: EBITDA of R$ 299,8 million(+128,3% YoY), with EBITA Margin of 60.1% (vs. 44.7% in 1Q23), an increase due to (i) operational leverage due to organic throughput increase and (ii) higher average ticket, reflecting new contracted prices with shipowners, a more favorable mix, with greater share of full containers, especially in imports, and refrigerated containers (reefers), and increased dwell time.
- Liquid Bulk Terminals: EBITDA of R$ 8 million(vs. R$ 0.3 million in 1Q23), with EBITDA margin of 58.9% (vs. 6.2% in 1Q23), an increase due to new contracts and conversion of spot contracts into long-term contracts
Santos Brasil
8
CAPITAL ALLOCATION
FOCUS ON THE STRATEGRY: MAXIMIZE VALUE GENERATION OF CURRENT ASSETS AND TO SHAREHOLDERS
Capex (R$ million) | Liquid Bulk Terminals: |
104 | |
86 | |
1Q23 | 1Q24 |
- 1Q24: R$ 74 million
- Expansion of brownfield terminals (TGL 01 and TGL 03): +59,000 m³ by the end of 2024
- Continuity of works at the greenfield terminal (TGL 02): +81,000 m³ by the end of 2025
Tecon Santos:
- 1Q24: R$ 40 million
- Payments related to the purchase of two STS cranes, eight electric RTGs, and 20 terminal tractors
- Adaptation of the electrical and data network
- Dredging of the quay to standardize the draft (14.5 m)
- Drainage and paving of areas for RTG operation + infrastructure improvements
Earnings (R$ million) | Debt (R$ million) | |||
569 | 0.09x | |||
143 | 479 | -0.41x | 536 | |
142 | ||||
IOC | Debt | |||
292 | ||||
426 | Dividends | Net Debt/Profroma EBITDA LTM | ||
337 | ||||
2022 | 2023 | 1Q23 | 1Q24 | |
Santos Brasil |
9
THANK YOU!
CONTACT THE IR TEAM
dri@santosbrasil.com.br
ri.santosbrasil.com.br (11) 3279-3279
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Santos-Brasil Participações SA published this content on 09 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2024 16:08:09 UTC.