CSAV 1Q24 Results May 2024 Earnings

CSAV reported 1Q24 financial results with a US$159.1 million loss primarily driven by tax expense provisions of US$230.5 million from foreign retentions, offset by profit before taxes of US$71.4 million. The company highlighted a positive start to 2024 with increased demand, though Red Sea security disruptions continue to impact operations, while Hapag-Lloyd, CSAV's main investment, delivered group profits of US$325 million with a new Terminals & Infrastructure segment contributing US$35 million EBITDA.