Log-In Logística Intermodal Reports 10th Consecutive Profitable Quarter in Q3 2023

Log-In Logística Intermodal revealed its financial-operational results for the third quarter of 2023, marking its tenth consecutive profitable quarter. With a 12.8% growth compared to Q3 2022, the company recorded a profit of R＄40.6 million. The period also saw historic highs in Net Operating Revenue (ROL) at R＄622.9 million and Adjusted EBITDA at R＄173.9 million.

Key contributors to the positive results included historic ROL records in the Coastal Navigation and Vila Velha Port Terminal (TVV). Coastal Navigation benefited significantly from the new Amazon Express Service (SEA), while TVV experienced growth in container handling. The Road Freight Transport pillar (Tecmar Transportes and Oliva Pinto) also showed positive results due to operational efficiency optimization and improved customer service.

Coastal Navigation:

Q3 2023 indicators were boosted by a 19.4% growth in the company’s nominal capacity (TEUs) with the addition of two new vessels in the Coastal Navigation trade of the new Amazon Express Service. The segment achieved a historic record of 136,000 TEUs, reflecting growth in both Coastal and Feeder trades. Coastal Navigation reported a Net Operating Revenue of BRL 373.1 million, a 22.7% increase compared to last year. The Adjusted EBITDA for Coastal Navigation reached R＄132 million, a 22.7% increase from Q3 2022.

Logistic Solutions (3PL):

In the Logistic Solutions (3PL – Third-party Logistics) segment, Log-In provides customized solutions for clients in addition to maritime transport and port services (TVV), managing the entire customer logistics chain.

In Q3 2023, the company reported a 9.7% growth in Net Operating Revenue compared to the same period in 2022, totaling R＄12.9 million. The EBITDA also saw a 13.7% increase, reaching R＄6.7 million, highlighting Log-In’s resilience across various business segments.

Vila Velha Port Terminal 

In the third quarter of 2023, the Vila Velha Port Terminal (TVV) marked a historic milestone with a Net Revenue of BRL 91 million, representing an 8.3% increase compared to the same period in 2022. The EBITDA of TVV reached BRL 46.4 million, showing a growth of 6.9% compared to the BRL 43.4 million generated in the corresponding period last year.

These outstanding results were driven by the record volume of containers handled, showing a remarkable growth of 25.6% compared to Q3 2022. This surge was notably attributed to the increased import of vehicles in flat rack containers, marking a new route between Brazil and China, and the new coffee harvest— one of the main exports from Espírito Santo, with competitive prices in the European market.

Gustavo Paixão, Director of Terminals at Log-In Logística Intermodal, credited the multipurpose strategy and recent investments for TVV’s success. He stated, “With an investment of around BRL 145 million focusing on modernization and increased service productivity at the terminal, we diversified our business and expanded our scope. This quarter’s positive results are directly linked to the new electric vehicle transportation service, a reflection of our innovative potential.”

Road Freight Transport:

In the Road Freight Transport segment, a Net Operating Revenue of BRL145.9 million was recorded in Q3 2023, marking a 19.6% increase compared to last year. The adjusted EBITDA witnessed substantial growth of 88.8%, totaling BRL12.9 million compared to BRL 6.8 million in Q3 2022.

As part of the synergy-building process between Tecmar Transportes and Log-In, 990 TEUs were jointly handled in the third quarter of 2023, reflecting a growth of approximately 53.1% compared to the 647 TEUs handled in the second quarter of this year.

The positive results were influenced by an improved client mix, a diversification strategy, and initiatives to enhance operational efficiency. Additionally, fractionalized cargo in the Northern region involving Log-In, Tecmar Transportes, and Oliva Pinto contributed to scale and operational efficiency gains.

ESG Agenda:

Since 2020, Log-In has been actively developing a comprehensive Environmental, Social, and Governance (ESG) agenda, incorporating Economic perspectives. The initiatives structured over the years align with the roadmap designed in collaboration with the company’s leadership, transparently presenting tracked indicators in the Sustainability Report in accordance with the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB).

Highlights from Q3 2023 include the delivery of the Dual Materiality Matrix, the hosting of the First ESG Week, and the release of the ESG Guide, available on the Log-In Investor Relations website.

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