Log-In Logistica registers record Q3 2020 results

On November 10, Log-In Logística Intermodal released its third-quarter results. From July to September, the company reached record figures. EBITDA was R$ 83.9 million, an increase of 20% compared to the same period last year. Net income was R$ 9.1 million against a loss of R$ 17.2 million recorded in the same quarter of the previous year. The superior performance is due to a better operating result, due to the high efficiency in the operation of the ships, the growth in revenue, and the optimization of costs and expenses in the face of the pandemic scenario. Net revenue reached R$ 298.5 million, 7.3% higher than reported in the third quarter of 2019.

According to the CEO of Log-In Logística Intermodal, Marcio Arany, the third-quarter performance was excellent, reflected in the increase in volumes and revenue. “The numbers prove the success of the commercial strategy we adopted to diversify and attract new cargo. We saw a resumption of activity after the easing of restrictive measures, when the most affected segments returned to selling their products, such as electronics, for example. For four consecutive years we have been developing work focused on results and the profitability of our assets”, stated Arany.

The coastal shipping service stood out in the quarter with net operating revenue of R$ 241.2 million, 10% higher than the third quarter of 2019. In relation to the volume handled, there was an increase of 13%, jumping from 83,800 TEU in the second quarter to 94,800 TEU in the third quarter. This growth was driven by higher volumes transported in cabotage, with an increase of 5.5%, and an increase of 28% in Mercosur. Another record set in coastal shipping was the Ebitda of R$ 76.9 million, 37.6% higher in the quarterly comparison. We also highlight the 94.5% mark in the Road Punctuality Indicator, which measures the performance of deliveries to the customer’s door.

The Vila Velha (ES) port terminal, on the other hand, showed historical growth in the first nine months of the year, with the highest Ebitda in its history: R$ 67.2 million. The consolidation of a new business at the terminal, bulk unloading, which started in the second half of last year, also contributed to the positive result. There were also large volumes of granite blocks exported to Asia and the United States in order to supply the international civil construction market. Container exports were another segment that showed an increase, especially in the flow of coffee towards Europe, which is still in high demand. In the quarter, 51,500 containers were handled at the terminal, in addition to 165.8 million tons of general cargo.

Log-In Logística Intermodal invested R$6.6 million from July to September which was allocated to ship maintenance at the Vila Velha port terminal and to technology projects.

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