CSAV
Relevant Information
As at December 31, 2017
- Quiñenco's interest: 56.2%
- Book value of investment: Ch$733,503 million
- Investment since: 2011
- Employees: 63
Address
- Hendaya 60, 14th floor, office 1401, Las Condes, Santiago - Chile
- Telephone: (56) 22588 6000
- www.csav.com
Compañía Sudamericana de Vapores S.A. (CSAV) develops its main business, containerized freight transport through its interest in the German shipping company Hapag-Lloyd AG (Hapag-Lloyd). CSAV also offers car carrier services to the west coast of South America, which it operates directly.
CSAV is an open-stock company that has traded its shares since 1893. Quiñenco first invested in CSAV in 2011, and currently holds a 56.2% stake.
With 25.5% of the share capital as of December 31, 2017, CSAV is the largest shareholder of Hapag-Lloyd, maintaining significant influence and control jointly with the City of Hamburg and Kühne Maritime under a shareholder agreement.
Hapag-Lloyd operates a global network of 120 line services with connections between all continents and 366 offices in 125 countries.
In May 2017, Hapag-Lloyd materialized a merger with United Arab Shipping Company (UASC), thus becoming one of the five main container ship companies worldwide. Due to the merger CSAV’s stake in Hapag-Lloyd decreased to 22.6% increasing then to 25.5% at year end.
Highlights
in thousands of dollars as at December 31 of each year| 2016 | 2017 | |
|---|---|---|
| Sales | 109,299 | 109,877 |
| Operating income (loss) | 7,910 | 1,707 |
| Net income (loss) attributable to owners of the controller | (23,317) | (188,137) |
| Total assets | 2,168,159 | 2,265,964 |
| Total liabilities | 161,695 | 148,507 |
| Shareholder's equity attributable to owners of the controller | 2,006,464 | 2,117,457 |