Log-In Integrated Logistics records annual revenue over R$2.3 billion in 2023

Log-In Integrated Logistics unveiled its financial and operational performance for the fourth quarter of 2023 (4Q23) and the entire year (12M23) on March 6. The highlights include record-breaking figures in Net Operating Revenue (NOR) across all business segments, notably Navigation and the Vila Velha Port Terminal (TVV), as well as historical highs in container throughput.

In terms of annual NOR, the company experienced a substantial 13.1% growth, reaching R$ 2.33 billion, compared to R$ 2.06 billion in 2022. For 4Q23, the recorded revenue stood at R$ 601.5 million, marking a 9.9% increase from the fourth quarter of the previous year, which recorded R$ 547.5 million. Overall, the uptick in NOR throughout 2023 can be attributed to the strong performance witnessed across all facets of the company’s operations.

In addition to these financial milestones, 2023 was a year of significant achievements for Log-In. These include an upgrade in its rating from ‘A (bra)’ to ‘A+ (bra)’ with a stable outlook, recognition as the best company in the Logistics Operator and Warehousing category at the Transport’s Largest & Best Awards 2023, organizational restructuring, recertification as a Great Place to Work (GPTW), establishment of the ESG Committee, attainment of the highest service level (NPS) for “on-time delivery” by Tecmar Transport & Logistics with a 30% increase in score compared to 2022, and the initiation of a R$66 million expansion project in the road operations tower, involving the acquisition of 82 trucks and 100 trailers for Tecmar and Oliva Pinto.

According to Marcio Arany, CEO of Log-In Integrated Logistics, these results reflect the alignment with the company’s strategic plan aimed at enhancing its robustness and service levels. “The year 2023 was pivotal in Log-In’s history, marked by numerous transformative initiatives. We made substantial investments to offer comprehensive services tailored to the evolving needs of our clients and the industry at large. While we anticipate long-term gains from these endeavors, this year’s results demonstrate that our efforts are yielding short-term returns,” he explained.

Coastal Navigation

The Navigation operations demonstrated resilience throughout the year, with a 7.1% growth in total NOR during the fourth quarter, reaching R$ 350.7 million. The yearly advancement amounted to 6.6%, achieving a historical NOR of approximately R$ 1.37 billion.

In container transport volume, Log-In also achieved record-breaking growth of 6.8% compared to 2022. Particularly noteworthy is the historic high in Cabotage trade, which expanded by 15.8% during the same period, significantly outperforming the market’s 0.5% reduction. This underscores the success of Log-In’s cargo conversion strategy and capacity expansion with the introduction of the new Amazon Express Service (SEA).

Vila Velha Port Terminal (TVV)

TVV also achieved record-breaking performance in 2023, with NOR reaching R$ 350.7 million, marking a 9.9% increase from 2022. Additionally, Adjusted EBITDA reached an annual record of R$ 169 million, reflecting a 12.9% surge compared to 2022.

In 4Q22, TVV recorded an NOR of R$ 93.8 million, representing a 19.9% increase from the same period in 2022, and an Adjusted EBITDA of R$ 44.4 million, up by 21.2%.

Key drivers of these results include increased vehicle imports in flat rack containers, the revival of coffee exports from Espírito Santo, and the highest volume of coffee shipments by TVV since 2002. Furthermore, there was notable growth in general cargo movement, particularly in steel products such as pipes and rails for the offshore industry.

Gustavo Paixão, Director of Terminals at Log-In, emphasized the effectiveness of TVV’s strategy in achieving these outcomes. “TVV’s ongoing modernization efforts have enabled us to diversify our cargo and expand our business portfolio, resulting in increasingly positive outcomes for the Terminal,” he remarked.

Road Freight Transport

During 4Q23, Tecmar and Log-In continued to capture synergies, moving a combined total of 1,086 TEUs. The road operations segment witnessed a robust 11.9% growth in NOR during the fourth quarter, reaching R$ 144 million. Annual revenue also saw a substantial increase of 35.9%, totaling R$ 553.4 million, compared to R$ 407.3 million in 2022.

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