Sociedad Matriz SAAM (SMSAAM) Q3 2025 earnings summary

Executive summary

• Achieved record results in Q3 2025, with strong growth in revenue, EBITDA, and net income compared to the previous year, driven by higher activity, improved service mix, and operational efficiencies in towage and air logistics.

• Net income for Q3 2025 reached $23.9M, up 97% year-over-year; operational profit rose 35% to $78.5M.

• Strategic acquisition of the remaining 30% of Intertug in Colombia and Mexico, reinforcing regional presence.

• Interim dividend of $20M to be paid in December 2025 from 2025 profits.

Financial highlights

• Consolidated revenue for 9M25 reached $462.6M, up 8% year-over-year; Q3 revenue was $160.5M, up 12%.

• EBITDA for 9M25 was $157.9M, up 15% year-over-year; Q3 EBITDA was $57.6M, up 23%.

• Net income attributable to the controller for 9M25 was $63.9M, up 48% year-over-year; Q3 net income was $23.9M, up 97%.

• EBITDA margin for Q3 2025 was 35.9%, up 3.1 percentage points year-over-year; for 9M25, 34.1%, up 2 percentage points.

• Operating cash flow for 9M25 was $116.7M, a significant improvement from -$10.3M in 2024.

Outlook and guidance

• Strategy 2030 aims to double the size of the business, focusing on sustainability, operational excellence, and global expansion.

• Continued focus on organic growth and M&A, leveraging a scalable operating model.

• Management highlights ongoing consolidation of operational capabilities, service quality, environmental respect, and safety.

• Recovery in air exports noted in the second half of the quarter.