- Following Quiñenco’s Annual Shareholders’ Meeting, Chairman Andrónico Luksic Craig thanked all group employees for the results obtained in 2021 and pointed out that more than 80% of net income for the year is attributable to the German shipping company Hapag-Lloyd.
- CEO Francisco Pérez Mackenna, in turn, said that “this outcome demonstrates a principle that we have strongly promoted: the market does not end at the mountains or the sea; that is where it starts” and stressed that “international diversification of our businesses takes place from Chile, where we will continue to invest.”
Santiago, April 29, 2022. At the conclusion of Quiñenco’s Annual General Shareholders’ Meeting, the first in-person since the start of the pandemic, Chairman Andrónico Luksic Craig thanked everyone for attending and then recapped the main milestones of the year 2021.
“Being able to meet again has been very positive. After two years, to see each other again in person, to share, and listen to one another” he said. He went on to explain that 2021 “was a very challenging and positive year for Quiñenco, during which all of our group companies were capable of adapting to a context marked by the gradual reopening of markets and obtained better results than before the pandemic.” “This deserves a very special recognition for each and every worker from our companies, and their management teams. I would like to extend to them a very heartfelt recognition and appreciation for their dedication and effort,” he remarked.
Andrónico Luksic particularly highlighted the effect on Quiñenco’s performance of the international diversification initiated years ago by the holding, reflected in the fact that “more than 80% of our 2021 earnings are attributable to Hapag-Lloyd, the German shipping company we invested in through Compañía Sudamericana de Vapores (CSAV). It took a decade of work and a lot of conviction to refloat this company, which was going through a very complex time, and turn it into a shareholder of one of the world’s largest shipping companies.”
Luksic also emphasized that “our international expansion is carried out from Chile to the rest of the world. We are proud to be Chilean and our companies will continue to develop investment plans in the country.” “We have to look to the future with optimism,” he added.
Quiñenco’s CEO Francisco Pérez Mackenna presented 2021 results to the shareholders and mentioned how the country and the world were still being impacted by the effects of COVID-19 during that year, but that “as the economy gradually reopened, especially in the second half of 2021, we clearly saw the value of a concept that has marked the development of this company and most modern economies: globalization.”
In that context, he explained that “Quiñenco achieved record earnings. It was certainly a year with excellent results for the company across all its business segments, both in Chile and abroad, although the international companies did particularly well.”
“This outcome demonstrates a principle that we have strongly promoted: the market does not end at the mountains or the sea; that is where it starts. To think that opportunities start and stop in Chile and that companies—domestic or international—do not see our country as a piece of the global trade puzzle, is to impose on ourselves an artificial barrier to dream and grow,” added Pérez Mackenna, who specified that “international diversification of our businesses takes place from Chile, where we will continue to invest.”
At the end of his presentation on the 2021 performance of Quiñenco and its subsidiaries, Pérez Mackenna affirmed that despite the uncertainty plaguing Chile and the world due to the global effects of the war in Ukraine, the pandemic and the political and constitutional process underway in the country, “we will continue to do what we do best: create value by developing sustainable companies that offer quality goods and services, with deep care for our environment and a conscious vocation to promote the progress of people.”
More information on our results is available at: “International Businesses Drive Quiñenco’s Results in 2021”
Quiñenco is one of the most diversified corporate conglomerates in Chile. It has investments in leading companies in the financial, beverage, manufacturing, energy, transport and port services industries, which together employ over 70 thousand people in Chile and abroad. More information is available at www.quinenco.cl