CSAV
Relevant Information
As of December 31, 2021
- Quiñenco's interest: 66.5%
- Book value of investment: Ch$2,741,876 million
- Investment since: 2011
- Employees: 13
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 66.5% stake as of December 2021. With 30.0% of the share capital as of December 31, 2021, CSAV is one of Hapag-Lloyd’s main shareholders, maintaining significant influence and control jointly with the City of Hamburg and Kühne Maritime, under a shareholders’ agreement.
Hapag-Lloyd operates a global network of 126 liner services with connections between all continents and 421 offices in 137 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| 2020 | 2021 | |
|---|---|---|
| Operating income (loss) | (9,625) | (23,066) |
| Non-operating income | 287,922 | 3,200,170 |
| Net income attributable to owners of the controller | 222,145 | 3,210,077 |
| Total assets | 3,036,032 | 6,025,208 |
| Total liabilities | 313,100 | 1,142,539 |
| Shareholder's equity attributable to owners of the controller | 2,722,932 | 4,882,669 |