Santos Brasil grew 9.5% in containers handled in Q1 2016

Tecon Santos, the largest and most efficient container terminal in South America, handled 208,953 containers in the period, up 10.4% from the terminal´s handled volume in Q1 2015. The company´s market share in the Port of Santos was 38.4% (5.3 percentage points higher than in the same period last year). The growth in volume at Tecon Santos was provided by two navigation services operating on routes to the west coast of South America and Africa, which started using the terminal in late 2015.

Tecon Vila do Conde handled 13,450 containers in Q1 2016, a volume 6.5% higher than the one handled in the terminal in Q1 2015. The volume increase at the terminal came from a service that began operating on the route to Europe in late January. In the same period, Tecon Imbituba showed an 11.7% decrease in volume.

Consolidated volume growth recorded in Q1 2016 was mainly from export and transshipment operations. Coasting operations accounted for 24.1% of the containers handled in the period, and transshipment operations accounted for 32.3%. The mix of full-empty containers showed recovery, totaling 75.7% of full containers in Q1 2016, compared to 74.3% in Q1 2015.

The company´s consolidated net revenue totaled R$ 197.2 million in the quarter, down 12.6% compared to the net revenue in Q1 2015 adjusted for non-recurring events. During the period, the company recorded a 7.5% decrease in its recurring expenses. EBITDA (earnings before interest, taxes, depreciation and amortization) adjusted for non-recurring items was R$ 17.2 million, with an 8.7% margin.

The company closed 2015 with R$ 207.4 million in cash and a net debt of R$ 89.5 million, equivalent to one EBITDA in the last 12 months.