Sociedad Matriz SAAM (SMSAAM) Q2 2026 earnings summary

Executive summary

• Net income for the first half of 2026 was $37.7M, down from $40.1M year-over-year, with operational results stable at $47.8M.

• Consolidated revenues rose 10% to $332.5M, and EBITDA increased 3% to $103M for the first half.

• Remolcadores segment drove growth, offsetting cost pressures and currency volatility.

Financial highlights

• Q2 2026 revenues reached $171.1M, up 11% year-over-year; EBITDA was $53.1M (+4%), with a margin of 31.0% (down 200 bps).

• Net income attributable to the parent was $18.0M in Q2, down 17% year-over-year.

• Cost of sales increased 10% to $119M, and administrative expenses rose 22% to $26.9M in Q2.

• Cash and equivalents at period end were $437.9M, down $97.4M from December 2025, mainly due to acquisitions and dividend payments.

Outlook and guidance

• Management highlights resilience in core segments despite cost inflation and currency volatility.

• Continued focus on operational efficiency and growth in Remolcadores and Logística Aérea.