CSAV
Relevant Information
As of December 31, 2019
- Quiñenco's interest: 61.5%
- Book value of investment: Ch$1,024,267 million
- Investment since: 2011
- Employees: 41
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 is an open-stock company that has traded its shares since 1893. Quiñenco first invested in CSAV in 2011, and holds a 61.5% stake as of December 2019. With 27.8% of the share capital as of December 31, 2019, CSAV is one of the largest shareholders 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 121 line services with connections between all continents and 392 offices in 129 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 to 27.8% at year end 2019.
During the first quarter of 2020, CSAV acquired an additional stake in Hapag-Lloyd, reaching 30.0% ownership.
Highlights
in thousands of US dollars as of December 31 of each year| 2018 | 2019 | |
|---|---|---|
| Sales | 91,436 | 92,955 |
| Operating income (loss) | 3,700 | (10,664) |
| Net income (loss) attributable to owners of the controller | 18,248 | 124,616 |
| Total assets | 2,257,877 | 2,517,380 |
| Total liabilities | 127,674 | 293,193 |
| Shareholder's equity attributable to owners of the controller | 2,130,203 | 2,224,187 |