Compañía Sudamericana de Vapores (CSAV), part of Grupo Luksic, reported profits of US$213.1 million for 2025, down 45% from 2024. The decline stems mainly from lower results at its key investment Hapag-Lloyd, due to reduced freight rates and higher operating costs.
CSAV submitted its 2025 results to the Comisión Para el Mercado Financiero (CMF), reporting a sharp decline in earnings. The company, owned by Grupo Luksic, achieved US$213.1 million in profits, lower than the previous year.
The key factor was its stake in Hapag-Lloyd, which contributed US$309.1 million, a 60% drop from 2024. CSAV attributed this to an 8% decrease in average freight rates and a 12% rise in logistics and operating costs, including one-time expenses from implementing the Gemini Cooperation.
Hapag-Lloyd still grew transported volumes by 8%, driven by Transpacific and Asia-Europe routes. Operational results were pressured by route diversions from the Red Sea conflict and higher port and land transport costs, the company stated.
CSAV highlighted strategic progress at Hapag-Lloyd, including consolidation of the Gemini alliance with Maersk and investments in port and logistics infrastructure to enhance global efficiency. In 2025, it received tax withholdings refunds from Germany and Hapag-Lloyd dividends, totaling US$590 million distributed. At year-end, CSAV held US$324 million in cash.
A favorable exchange rate difference and lower tax expenses partially offset the downturn.
