Earnings call transcript Q1 2023

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Operator

Good morning, and thank you for joining Navios Maritime Holdings First Quarter 2023 Earnings Conference Call.

We are pleased to host this call from the Cayman Islands. With us today from the company are Chairwoman and CEO; Ms. Angeliki Frangou, Chief Financial Officer, Mr. George Akhniotis, Senior Vice President of Strategic Planning, Mr. Logistics' Officer, Navios and Karyotis, Chief Mr. Financial Ioannis Ferrando. Enrique

call Ms. through Daniela I statements. conference will who to the turn Daniela? harbor safe you now Guerrero, over will details and call the take

Daniela Guerrero

you. Thank

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today's page, be of the copy You'll webcast in link a also see will the referenced and earnings in the found call there. middle of the conference presentation

This statement. Private harbor call safe Act the review will the Holdings. the I forward-looking contain of of Maritime under Securities conference statements Navios Now could Reform XXXX meaning about Litigation

Forward-looking statements forward-looking are statements. risks to and current historical the beliefs the Such are and cause differ uncertainties, expectations from which subject forward-looking to could Maritime not actual and facts. statements of results are management upon that statements based Navios are Holdings

should Exchange of the does Securities more any update information information set Such with filings risks obligation call. this not in contained herein the understood Holdings' are Navios Maritime conference Commission. to Holdings The risks. Maritime Navios be fully in and assume discussed in forth such light

Operator

Angeliki conference will and Ms. We Navios Frangou. Holdings' Angeliki? morning's with CEO, Chairwoman begin call this

Angeliki Frangou

Holdings XX.X% in region a of marine million, South all in in of Hidrovia and infrastructure EBITDA call. Logistics, America. of Thank you, transportation and results and XXXX having we net income joining quarter a Partners, which respectively, controlling reported Navios $XX.X a good providers its sold morning XX.X% ownership am interest of Navios us primary around American on Navios also in first ownership Navios Michael, of million today's pleased the you Holdings diversified to operations fleet a I consist the company. for the with XXXX, and interest owns South in logistics $XX.X

the the region. believe conditions in support growth Hidrovia macro heavy We that global

volumes. agricultural other demand Ukraine As China demand has for pandemic, and increasing for we on commodities, believe food continued that emerges witnessing the and drives minerals commodities. focus the agricultural from we impacted are security

the by We our and on assets from logistics solutions. offering are maximizing existing focusing adaptive return being innovative

to infrastructure to existing Logistics seeking capture and are increased from clients. new leverage We demand unique Navios

changing Solution we emerging We are respond challenges. a developing to services demanding Navios new as to environment, also

would turn call Akhniotis, who go to I Mr. George? over like the to now the financials. George will through

Georgios Akhniotis

review Thank Please Navios Holdings a you, first Slide highlights of for financial for of Angeliki. X XXXX. to turn quarter the the

from quarter XXXX. of to bulk continuing Focusing the 'XX. income was order increase the sale in dry operations million mainly to $XX the QX equity due on $XX the of EBITDA was the the Logistics for income million about EBITDA The of of pickup QX and in Navios for and exclude million a compared QX compared net in increase 'XX. fleet $XX million Net QX to to results in loss in XXXX an of improvement from Partners. American Navios of South was $XX

Moving X sheet to balance and highlights. Slide our

compared balance and 'XX. at of South logistics. to South million the of the million the of The cash million was about American $XX million $XX Navios consolidated $XX fleet, Out at Holdings sheet balance Logistics. sale about sheet the end the represents American mainly Following was Navios of Navios million, December $XX balance the $XX at

EBITDA. QX trade. river for by a for fleet Please of operates X Navios turn for terminals, our Navios to port Slide XX% overview cabotage and product These Logistics provided of about coastal complemented Logistics. are American in tanker X South an transportation which fleet barge

assets in which unique we business have serve to leverage want infrastructure and the develop new region, to our clients We existing opportunities.

American update Logistics Navios Ioannis Karyotis South to over of an call the turn I'll point, developments. this recent At for

Ioannis Karyotis

conditions. and transshipment In George. the last the developments. for terminal favorable macro recent Please discuss The our to tons through of same Minerals driven year. to positive in port just we outlook XX,XXX quarter where were compared you, the turn first period XXXX, transportation XXX,XXX Thank by X, transshipped Slide is

client Increased Vetria of drive and which other $XX to period transportation. demand barge ore the using for of Mining, beginning main iron X through exports regional bus million iron Our is ore export generate XB the driving dry production. also increase plus further convoys have fixed on about revenue. Since year, more producers we are the and our our in iron cargo charters, the X should terminal terminal ore. to

new dry This partners our All trading emerging, our the adapted are contracts year. convoys services also for our we clients raw innovative of to fixed soybean in offer material domestic under and saw are to and failed we the barge new due cover Brazil remaining from soybeans year, solutions some volume also crop. importing shortfall capturing the to supply plants logistics business. crushing Argentinian the

the Our Greenport in of a competitive transshipment is and storage terminal cost solution destined Uruguay to Argentina. for beans Brazilian

X production. mitigate soybean XXXX, of We Uruguayan year, the conditions cabotage stands throughout first continue at fleet impact to a and fixed partially of expect weak the day months improved our remaining utilization the the In of we're for contracted per days the continue fleet be trade healthy. and new vessel. the the time of for enjoying in charter Market year the $XX,XXX equivalent per to quarter

like Enrique of now financial CFO for the Ferrando, to the call discussion turn results. to would Navios over the I Logistics

Enrique Ferrando

a to improved to QX Page Thank the barge Mining higher iron was from EBITDA The million. by during Ioannis. The offset mainly to $XX.X a X. grain as was throughput segment iron mainly the XX% and XB the throughput ore million, by the turn segment. lower and XXXX, Navios Please compared EBITDA at last clients related tariffs Uruguayan Logistics Port quarter in had was a Vetria, results of port performance the exports. ore increased $XX.X on same higher driven reduction impact you, positive strong year.

under and for attractive at transportation allowed rates. segment, Barge million convoys fix to increased grain ore period us XXXX increased has a contracts $X.X iron the QX significantly to In EBITDA $X.X by various barge million, demand

In fleet. XXXX QX increased business, to days to million EBITDA $X by due $X.X million the of more operating cabotage the

loss was last year, income to compared in to million $X.X improved period million For the the barge $X.X same QX net mainly due the performance. business XXXX,

Slide Please turn I no end equivalents at debt comments. QX Angeliki? were now maturities like XXXX. cash Navios turn would concludes Logistics call and the her XX. $XX.X until of has presentation. for XXXX significant Cash the Angeliki to This my final to over to million.

Angeliki Frangou

Thank Thank you first much. This quarter completes you, results. Enrique. very our

Operator

This any call your appreciate webcast. participation, you, today's may you and Thank ladies gentlemen. at time. and concludes conference disconnect We and

Navios Maritime (NMPRY) 24 May 232023 Q1 Earnings call transcript