Log-In Integrated Logistics records BRL 619.4 million revenue in first quarter 2024

Log-In Logística Integrada unveiled its financial and operational results for the first quarter of 2024 on Wednesday, May 8th. Notable highlights from the period include achieving the highest Net Operating Revenue (NOR) for a first quarter, the successful delivery and commencement of operations of the new vessel, Log-In Evolution, and the nearing completion of the Log-In Experience, slated for sea trials in the second quarter of 2024.

The Group’s Net Operating Revenue for the first three months of 2024 reached R$619.4 million, marking a substantial 10.7% increase compared to the corresponding period in the previous year. This growth is attributed to positive outcomes across all business segments, driven by various factors such as the expansion of Cabotage revenue and volume, augmented market share in the North axis, enhanced operational capacity through additional vessels, record-breaking performance in Feeder services, the highest NOR at the Vila Velha Port Terminal (TVV) for a first quarter, and the contribution of container transport operations in the Santos Project within Road Cargo Transport.

Marcio Arany, CEO of Log-In Logística Integrada, attributed the quarter’s success to the dedication and strategic acumen of the team. He emphasized the organization’s agility in anticipating market dynamics, adapting operations accordingly, and leveraging opportunities to deliver exceptional value to stakeholders.

Coastal Navigation:

Operational indicators for the Coastal Shipping service in the first quarter of 2024 underscore Log-In’s robust performance. The company achieved a remarkable 16.3% growth in Net Revenue from this segment, totaling R$383.2 million. This growth is primarily attributed to record-breaking volume performance coupled with an improved cargo mix. Log-In’s market share in Cabotage reached its highest point in recent years, bolstered by increased capacity and favorable conditions in the North axis due to drought in the Amazon River Basin.

Feeder services also witnessed historic revenue, reaching R$95.6 million during the period. The addition of two vessels compared to the same period in 2023 facilitated volume growth surpassing the market average, along with an increase in door-to-door transport.

Together, Cabotage and Feeder services drove significant volume growth in Shipping, with a remarkable 53% increase to 155.7 thousand TEUs. Feeder services alone handled a record volume of 94.7 thousand TEUs, marking a 98% surge compared to Q1 2023, while Cabotage recorded its highest volume for the first quarter at 52.6 thousand TEUs.

Vila Velha Port Terminal (TVV):

TVV achieved record-breaking performance in Q1 2024, both in terms of container handling volume and Net Operating Revenue. The terminal reported its highest NOR for a first quarter, totaling R$89.5 million, attributed to increased container volume and a more diverse cargo mix.

A total of 56,300 containers were handled during the period, marking the highest volume of container deliveries for a first quarter. Factors contributing to this growth include increased imports of electric vehicles in flat rack containers, strong coffee exports from the state of Espírito Santo, and heightened movement of empties and removals reflecting overall growth in import and export volumes.

Gustavo Paixão, Director of Terminals at Log-In, noted a decline in revenue from ancillary services due to capacity limitations resulting from the ongoing modernization project. However, he highlighted the positive outcomes of the project, emphasizing TVV’s strategic positioning as a multipurpose terminal, which has consistently yielded favorable results.

Road Freight 

The spotlight in Road Cargo Transport for the current quarter shines on the Fleet Expansion Project, marked by the establishment of two new units dedicated to container transportation. This strategic move unfolds through the acquisition of vehicles by Tecmar Transporte & Logística and Oliva Pinto, culminating in an investment totaling R$66.2 million. This significant investment saw the procurement of 82 trucks and 100 trailers, amplifying logistical capabilities and fostering synergies within the Log-In group while catering to diverse markets nationwide.

Equipped with Euro 6 technology, the acquired trucks boast enhanced environmental performance, facilitating a reduction in CO2 emissions and fuel consumption. Tecmar Norte, operating under Oliva Pinto, continues to bolster breakbulk cargo operations across the North region, extending delivery services to 54 municipalities in Amazonas and Roraima states through collaborative partnerships with local operators. Additionally, Tecmar has successfully integrated Amazonas and Roraima into a comprehensive multimodal network, seamlessly connecting these regions with 23 warehouses across Brazil via road-cabotage routes.

In terms of financial performance, Log-In’s Road Cargo Transport segment achieved a commendable 5.4% growth in Net Operating Revenue during the first quarter, amounting to R$132.6 million compared to R$125.7 million in the corresponding period of 2023. This growth was primarily propelled by the acceleration of container transport operations within the Santos Project and a favorable rebound in average freight rates for breakbulk and full loads towards the end of Q1 2024.

EESG Agenda

Since 2020, Log-In has been steadfastly dedicated to the development of an EESG agenda (Environmental, Social, and Corporate Governance Sustainability) driven by a sincere commitment to fostering a sustainable operational environment. The company’s initiatives, meticulously crafted over the years, are seamlessly integrated into its ESG Agenda roadmap, a collaborative effort led by top management and ingrained throughout the organization.

Transparently presented with tangible metrics, these initiatives are meticulously detailed in Log-In’s Sustainability Report, adhering to the GRI Standards (Global Reporting Initiative) and the Sustainability Accounting Standards Board (SASB).

Key highlights from Q1 2024 include the completion of the 2023 Greenhouse Gas (GHG) Inventory, endorsed by a global auditing firm; efforts towards aligning with European Sustainability Reporting Standards (ESRS) and adherence to Human Rights Due Diligence (HRDD) guidelines in alignment with international sustainability norms; comprehensive audit of chemical products at TVV; awareness campaigns commemorating World Water Day; ethics training conducted during the Intermodal Fair; and anti-harassment workshops implemented at Oliva Pinto and Tecmar, reinforcing a culture of respect and integrity within the organization.

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