Q4 2024 Santos Brasil Participacoes SA Earnings Call Transcript
Key Points
- Santos Brasil Participacoes SA (BSP:STBP3) achieved record operational and financial performance in 2024, handling almost 1.5 million containers, a 23% increase year-on-year.
- The company reported a net revenue of BRL2.9 billion, EBITDA of around BRL1.5 billion, and a net profit of BRL742 million, with annual increases of more than 45%.
- Tecon Santos grew 11 percentage points above the aggregate of the Port of Santos, reaching a 42% market share.
- The company successfully executed its strategy of capacity expansion, allowing it to gain market share and reposition prices.
- Santos Brasil Participacoes SA (BSP:STBP3) plans to offer 3 million TEUs of annual capacity at Tecon Santos by 2026, consolidating its leadership in the Port of Santos.
- The company's gross debt at the end of 2024 was BRL2.7 billion, with a net debt of just under BRL2.0 billion.
- The leverage ratio stood at 1.5 times net debt pro EBITDA pro forma, which, while controlled, indicates significant debt levels.
- The acquisition by CMA CGM is still pending regulatory approval from CADE, creating uncertainty about the timeline for completion.
- Despite growth, the liquid bulk terminals faced restricted supply of storage throughout 2024.
- The company did not provide specific information regarding the decision on OPA or the stake in capital, indicating ongoing negotiations and uncertainty.
Good morning, everyone, and thank you for holding. Welcome to Santos Brasil fourth quarter 2024 conference call. With us today, we have Antonio Carlos SepĂÂșlveda, the Chief Executive Officer; Daniel Pedreira Dorea, Chief Financial and Investor Relations Officer; and Ricardo dos Santos Buteri, Chief Commercial Officer. (Operator Instructions)
I would like to remind you that the earnings release and presentation are available on the company's Investor Relations website where the replay of this event will be available. In addition to the rooms in Portuguese and English, we have simultaneous translation into Brazilian sign language.
Please bear in mind that forward-looking statements made herein as well as operational and financial goals are based on the beliefs and assumptions of Santos Brasil management and on information currently available.
These forward-looking statements involve risks and uncertainties as they relate to future events and may or may not materialize. Investors and analysts should understand that conditions related to macroeconomics, industry and other factors
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