Independent journal on economy and transport policy
06:30 GMT+1
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CSAV clearly closes the first half of 2011 with liabilities of 519,1 million dollars
For the entire exercise anniversary a "very meaningful loss" is previewed. New increase of capital of 1,2 billion dollars
September 5, 2011
In the first semester of this year the shipowning society Chilean Compañía American South de Vapores (CSAV) has recorded a net loss of 519,1 million dollars respect to a profit clearly of 36,8 million dollars in the first half of 2010. The revenues are increased of 19.0% to 2.949, 7 million dollars, while the result before taxes has been negative for 560,2 million dollars respect to a positive result for 49,2 million dollars in the first semester last year.
In according to trimester of the 2011 company it has totaled a net loss of 337,1 million dollars on revenues for 1,427, 1 million dollars respect to a profit clearly of 72,8 million dollars on revenues for 1,365, 9 million dollars in the period April-june last year. The result before taxes has been negative for 364,0 million dollars respect to a profit of 84,7 million dollars in according to trimester of 2010.
CSAV has anticipated that the final result of entire exercise 2011 will introduce "a very meaningful loss".
In order to tackle to the liquidity difficulties the Chilean society it has announced the adoption of some measures. A loan is defined bridge of the value of 350 million euros obtained from shareholder Quiñenco KNOWS (that on 30 June it stopped 7.41% of CSAV, quota that, with those of two society connected, reaches 18.83% of the capital stock of the Chilean company). Moreover they are announced a new increase of capital for 1.200 million dollars and the separation of the activity of marine transport of the goods from the activity constituted from the marine services to the ships and the goods, operation that will be put into effect constituting a new society that will be holder of about 99.99% of the actions of the branch South American Agencias Aéreas y Marítimas KNOWS (SAAM).
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In the first semester of this year the shipowning society Chilean Compañía American South de Vapores (CSAV) has recorded a net loss of 519,1 million dollars respect to a profit clearly of 36,8 million dollars in the first half of 2010. The revenues are increased of 19.0% to 2.949, 7 million dollars, while the result before taxes has been negative for 560,2 million dollars respect to a positive result for 49,2 million dollars in the first semester last year.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
