SM SAAM
Relevant Information
As of December 31, 2023
- Quiñenco's interest: 62.6%
- Book value of investment: Ch$640,010 million
- Investment since: 2012
- Employees: 4,017
Address
- Av. Apoquindo 4800, Tower II, 18th floor, Las Condes, Santiago - Chile
- Telephone: (56) 22731 8240
- www.smsaam.cl
Sociedad Matriz SAAM S.A. (SM SAAM) is a multinational company based in Chile in which Quiñenco has a 62.6% stake as of December 31, 2023. With operations in 13 countries in the Americas at more than 90 ports from Canada to Patagonia, SM SAAM provides services for the foreign trade industry through two business areas: Towage and Air Cargo Logistics.
In the first area, SAAM Towage boasts consolidated leadership in the Americas and is the third largest provider of towage services worldwide. Its main services include vessel and cargo berthing and deberthing support, as well as assistance and salvage both in harbor and offshore, in the main ports in Chile, Mexico, Brazil, Uruguay, Ecuador, Guatemala, Costa Rica, Canada, Panama, Colombia, El Salvador, Honduras and Peru. It has a fleet of more than 200 tug boats and employs over 2,300 people in the different markets where it operates.
In the air cargo logistics business, the company provides airport services in Chile, Colombia and Ecuador through its subsidiary Aerosan, a fully owned subsidiary as of 2020. Aerosan manages over 35,000 m2 of warehouses and offers more than 1,500 jobs.
In August 2023, SM SAAM completed the sale of its shares of SAAM Ports S.A., a port services subsidiary, and SAAM Logistics S.A., a company that provides trucking and warehouse services at bonded warehouses, as well as certain associated real estate, to the shipping company Hapag-Lloyd, a company partially owned by Quiñenco through its subsidiary Compañía Sud Americana de Vapores (CSAV).
SAAM was a subsidiary of CSAV until February 2012, at which time SM SAAM, which owns 99.99% of SAAM's shares, was created as a spin-off. SM SAAM's shares began trading on March 1, 2012, on the Chilean stock market.
In the first area, SAAM Towage boasts consolidated leadership in the Americas and is the third largest provider of towage services worldwide. Its main services include vessel and cargo berthing and deberthing support, as well as assistance and salvage both in harbor and offshore, in the main ports in Chile, Mexico, Brazil, Uruguay, Ecuador, Guatemala, Costa Rica, Canada, Panama, Colombia, El Salvador, Honduras and Peru. It has a fleet of more than 200 tug boats and employs over 2,300 people in the different markets where it operates.
In the air cargo logistics business, the company provides airport services in Chile, Colombia and Ecuador through its subsidiary Aerosan, a fully owned subsidiary as of 2020. Aerosan manages over 35,000 m2 of warehouses and offers more than 1,500 jobs.
In August 2023, SM SAAM completed the sale of its shares of SAAM Ports S.A., a port services subsidiary, and SAAM Logistics S.A., a company that provides trucking and warehouse services at bonded warehouses, as well as certain associated real estate, to the shipping company Hapag-Lloyd, a company partially owned by Quiñenco through its subsidiary Compañía Sud Americana de Vapores (CSAV).
SAAM was a subsidiary of CSAV until February 2012, at which time SM SAAM, which owns 99.99% of SAAM's shares, was created as a spin-off. SM SAAM's shares began trading on March 1, 2012, on the Chilean stock market.
Highlights
in thousands of US dollars as of December 31 of each year| 2022 | 2023 | |
|---|---|---|
| Sales | 461,835 | 540,084 |
| Operating income | 74,679 | 68,066 |
| Net gain from discontinued activities | 27,651 | 482,462 |
| Net income attributable to owners of the controller | 48,176 | 500,920 |
| Total assets | 1,890,064 | 2,195,490 |
| Total liabilities | 1,013,698 | 1,005,867 |
| Shareholder's equity | 822,381 | 1,168,203 |