Santos Brasil closes Q216 with a 7.4% growth in containers handled

Santos Brasil closed the second quarter of 2016 with a 7.4% growth in operated volume, totaling 245,074 containers handled at its three terminals - Santos (SP), Imbituba (SC) and Vila do Conde (PA). Year-on-year growth through June was 8.4%, mainly driven by the positive performance of operations at Tecon Santos and Tecon Vila do Conde.

In the largest and most efficient container terminal in South America, 222,586 containers were handled in Q216, exceeding the terminal´s performance in Q215 by 5.0%. Year-on-year growth in Tecon Santos was 7.6%. The company´s market share in the Port of Santos was 39.1% (4.2 percentage points higher than in the same period last year). This result was partially driven by the volume of two navigation services that operate on routes to the West Coast of South America and Africa, which began mooring in late 2015.

Maintaining its upward trend observed since last year, Tecon Vila do Conde handled 16,946 containers in Q216, a volume 65.4% higher than the terminal´s volume in Q215. YoY growth in 2016 is 32.9% in both long-haul and coasting navigation. Both operations showed higher operating performance due to navigation services that began operating on the route to Europe and the Caribbean in late January.

In the same period, Tecon Imbituba showed a 6.8% lower volume, due to a decrease in the handling of long-haul containers. On the other hand, the Santa Catarina terminal recorded a 35.5% growth in its coasting navigation operations, which now account for most of the volume handled in Q216.

Consolidated volume growth in Q216 was recorded mainly in export and transshipment operations. Coasting navigation operations accounted for 22.3% of the containers handled in the period, and transshipment accounted for 32.6%. The mix of full-empty containers showed recovery, totaling 76.9% of full containers in Q216, compared to 74.1% in Q215.

The Company´s consolidated net revenue totaled R$ 202.3 million in the second quarter. During the period, the Company´s recurrent costs and expenses decreased by 0.8% and 3.7% respectively. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for non-recurring items was R$ 15.2 million, with a 7.5% margin.

The Company closed Q216 with a R$ 173.3 million cash surplus and a net debt of R$ 90.5 million, equivalent to 0.8x the adjusted EBITDA in the last 12 months.