SAAM reports US$59 million net income in 2024

SAAM reported a net income of US$59.2 million from continuing operations in 2024, with EBITDA reaching US$188 million (+17%) and revenue totalling US$578 million (+7%), marking a solid year for the company.

During the previous year, SAAM completed the integration of acquired assets from Starnav (Brazil) and Pertraly (Ecuador).

Additionally, SAAM recorded US$479 million in net income from the sale of its port terminal and inland logistics operations in August 2023. The Board of Directors proposed a final dividend of US$39.2 million, bringing total dividends for the year to US$59.2 million, including the US$20 million interim dividend paid in November 2024.

“Overall, the year 2024 was positive. We continued to move forward with our strategy to consolidate our leadership in the towage industry and position ourselves as one of the main air cargo logistics providers in the region. Not only did we complete the process of integrating new assets, but we also worked hard to strengthen our internal capabilities, which will allow us to continue growing in the future,” explained SAAM’s CEO, Macario Valdés.

Key milestones for the year included distributing US$270 million in dividends, introducing the first two electric tugboats, launching Operational Control Centers for towage, enhancing risk and process management, and unveiling the 2030 Sustainability Strategy.

SAAM Towage achieved record results, with US$483 million in sales and US$163 million in EBITDA, driven by growth in Brazil and Canada, which offset declines in Panama and Chile. Time charter days increased by 13%, supported by contracts in Brazil and St. Croix.

Furthermore, Aerosan posted US$94 million in sales and US$36 million in EBITDA, with tons handled rising 18% due to higher export volumes from Ecuador and operational improvements.

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