Log-In Logística Intermodal sets profit, NOR and EBITDA records in 1Q22May, 13, 2022 Posted by Gabriel Malheiros
Log-In Logística Intermodal, a logistics solutions company, focused on port handling, cabotage, and long-haul navigation, released its financial and operating results for 1Q22.
Among the highlights of the period, the company secured its highest profit since it began operations, as well as key initiatives such as the acquisition of Tecmar Transporters. Moreover, the company registered zero accidents or cargo theft and increased productivity with the start of operations of the new cranes bought for the Vila Velha Port Terminal (TVV).
Log-In set a new record for Net Operating Revenue for the fourth consecutive quarter, reaching R$388.4 million, up 30.9% in 2021. Better-mixed cargo, increased Mercosur trade revenues and Feeder movements, new customer entry, and acquisition of more profitable products contributed to the increase in NOR. Besides, the growth in the volume of TVV’s general cargo, particularly steel products, bulk, and granite, helped compensate for the drop in container handling caused by the market downturn.
As for EBITDA (earnings before interest, taxes, depreciation, and amortization), the company also scored a record for the period, with R$ 114.1 million, a 62% growth compared to 1Q21.
From January to March, the company handled a volume of containers of 98.9 thousand TEUs in Coastal Shipping, a growth of 8.1% compared to the same period in 2021. The segments of food and beverages, chemicals and petrochemicals, and electronics stood out among cabotage operations from in and out Mercosur in the quarter.
In Mercosur, the company registered an increase of 88%, comparatively speaking. Cabotage had growth leveraged mainly by transporting cargo that would otherwise be transported by trucks on the road, as well as increasing the company’s operations southbound. Feeder movement was one of the quarter’s highlights, with NOR 42% higher than in 1Q21, with activities in line with what was expected for the period, especially given the unfavorable exchange rate effect.
Vila Velha Port Terminal (TVV)
From January to March, the terminal handled 286,800 tonnes of general cargo, in addition to 40,000 containers. TVV was responsible for R$32 million of the company’s EBITDA, a growth of 12.7% compared to the first quarter of 2021.
TVV saw a 29% increase in revenue over the same period, with R$ 77.1 million in NOR, owing to higher volumes handled in general cargo, fertilizers, and malt among the highlighted bulk cargo, and steel plates and coils among steel products. In addition, the increase in vehicle movement through TEV (the vehicle terminal managed by Log-In at TVV) was another factor that contributed to the outcome.
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