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CSAV

Relevant Information

  • As of December 31, 2018

  • Quiñenco's interest: 56.2%
  • Book value of investment: Ch$832,186 million
  • Investment since: 2011
  • Employees: 42
  • 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 holds a 56.2% stake as of December 2018. With 25.9% of the share capital as of December 31, 2018, 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 119 line services with connections between all continents and 407 offices in 128 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 25.9% at year end 2018.


Highlights

in thousands of US dollars as of December 31 of each year
2017 2018
Sales 109,877 91,436
Operating income (loss) 1,334 3,700
Net income (loss) attributable to owners of the controller (188,137) 18,248
Total assets 2,265,964 2,257,877
Total liabilities 148,507 127,674
Shareholder's equity attributable to owners of the controller 2,117,457 2,130,203

Assets by Business Area

US$2,258 million as of December 31, 2018