Company Profile

ASMAR
Astilleros y Maestranzas de la Armada de Chile

Reference Code: 201810-10ASMCHI

Publication Date: 10 October 2018

ASMAR – October 2018 1
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 ASMAR - COMPANY PROFILE

Table of Contents

LIST OF TABLES ..................................................................................................................4

LIST OF FIGURES.................................................................................................................5
COMPANY OVERVIEW .........................................................................................................6
HISTORY ...............................................................................................................................7
STRUCTURE AND PERSONNEL........................................................................................10
Share Ownership Structure ...............................................................................................10
Organisation .....................................................................................................................10
Key Employees .................................................................................................................11
Biographies .......................................................................................................................13
Human Resources ............................................................................................................16
MAJOR PRODUCTS AND SERVICES ................................................................................18
Military Shipbuilding Market ..............................................................................................18
Civilian Shipbuilding Market ..............................................................................................19
Services Market and Additional Fields ..............................................................................20
FACILITIES ..........................................................................................................................21
Locations ..........................................................................................................................21
Other Locations and Subsidiaries .....................................................................................23
FINANCIAL RESULTS ........................................................................................................24
Activities ...........................................................................................................................24
Financial Statements Snapshot.........................................................................................27
Profitability and Efficiency Ratios ......................................................................................28
Valuation Highlights ..........................................................................................................30
Solvency Ratios ................................................................................................................31
SWOT ANALYSIS ...............................................................................................................32
Strengths ..........................................................................................................................33
Weaknesses .....................................................................................................................34
Opportunities ....................................................................................................................36
Threats .............................................................................................................................36
ASMAR’S MAIN CONTRACTS IN THE SHIPBUILDING INDUSTRY .................................. 38
ASMAR’S MAIN MRO CONTRACTS ..................................................................................40
TOP COMPETITORS ...........................................................................................................43
Shipbuilding ......................................................................................................................43

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 ASMAR - COMPANY PROFILE

STRATEGIC OUTLOOK ......................................................................................................46

New Products and Services ..............................................................................................46
Plant Expansion / Organisation Update.............................................................................48
Internationalisation ............................................................................................................49
Acquisitions / Divestments ................................................................................................50
Teaming / Joint Ventures ..................................................................................................51
DEVELOPMENT AXES .......................................................................................................54
Innovation .........................................................................................................................54
R&D partners ....................................................................................................................56
APPENDIX ...........................................................................................................................57
Background Data ..............................................................................................................57
About OIDA Strategic Intelligence .....................................................................................59

ASMAR – October 2018 3

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 ASMAR - COMPANY PROFILE

LIST OF TABLES

Table 1: ASMAR Board Committee ...................................................................................................... 11

Table 2: ASMAR’s Board of Directors ................................................................................................... 12
Table 3: Number of Employees – Breakdown by Categories (ASMAR) ............................................... 16
Table 4: Major Products in Military Shipbuilding (Part 1) ..................................................................... 18
Table 5: Major Products in Military Shipbuilding (Part 2) ..................................................................... 19
Table 6: Major Products in Civil Shipbuilding ........................................................................................ 19
Table 7: Services Market and Additional Fields .................................................................................... 20
Table 8: ASMAR Facilities ..................................................................................................................... 22
Table 9: ASMAR Shipyards .................................................................................................................. 22
Table 10: ASMAR’s Subsidiaries........................................................................................................... 23
Table 11: Turnover by activity (in US$ Thousand) by year and by business ........................................ 24
Table 12: Revenue by activity (in US$ Thousand) ................................................................................ 25
Table 13: Number of Commercial Ships Repaired by Site .................................................................... 26
Table 14: Number of Fishing Boats Repaired by Site ........................................................................... 27
Table 15: Main Contracts of ASMAR by country 1996-2018 (Part 1) ................................................... 38
Table 16: Main Contracts of ASMAR by country 1996-2018 (Part 2) ................................................... 39
Table 17: Main MRO Contracts of ASMAR by country 2006-2018 (Part 1) .......................................... 40
Table 18: Main MRO Contracts of ASMAR by country 2006-2018 (Part 2) .......................................... 41
Table 19: Main MRO Contracts of ASMAR by country 2006-2018 (Part 3) .......................................... 42
Table 20: Main Competitors of ASMAR in the Naval Industry .............................................................. 43
Table 21: Peer Analysis in the Shipyard Industry for 2017 ................................................................... 44
Table 22: Characteristics of the Planned Dry Dock at ASMAR’s Talcahuano Facilities ....................... 49
Table 23: ASMAR’s Main Teaming Agreements (Part 1) ...................................................................... 51
Table 24: ASMAR’s Other Main Teaming Agreements (Part 2) ............................................................ 52
Table 25: Presentation of ASMAR’s subsidiaries .................................................................................. 53
Table 26: ASMAR’s Latest R&D Projects (Part 1)................................................................................. 54
Table 27: ASMAR’s Latest R&D Projects (Part 2)................................................................................. 55
Table 28: ASMAR’s Main R&D Partners ............................................................................................... 56
Table 29: Income Statement (in $ Thousand) ....................................................................................... 57
Table 30: Statement of Financial Position (in $ Thousand) .................................................................. 58
Table 31: Cash Flow Statement (in $ Thousand) .................................................................................. 58

ASMAR – October 2018 4

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 ASMAR - COMPANY PROFILE

LIST OF FIGURES

Figure 1: Worldwide Sales and Exports of ASMAR’s Vessels ................................................................9

Figure 2: ASMAR Shareholders ........................................................................................................... 10
Figure 3: ASMAR’s Subsidiaries and Associated Companies ............................................................. 10
Figure 4: ASMAR’s Direction Committee ............................................................................................. 11
Figure 5: Average Number of Employees (ASMAR) until July 2018 ..................................................... 16
Figure 6: Employees – Breakdown by Categories (ASMAR) ................................................................ 17
Figure 7: ASMAR’s Facilities in Chile .................................................................................................... 21
Figure 8: Net Sales and Other Revenue (in US$ million) ...................................................................... 24
Figure 9: ASMAR Revenue by Activity 2017 (in %) .............................................................................. 25
Figure 10: ASMAR Revenue by Activity 2017 (in %) ............................................................................ 25
Figure 11: Number of Commercial Ships Repaired per Year ................................................................ 26
Figure 12: Distribution of Commercial Ships Repaired by Site in 2017 ................................................ 26
Figure 13: Number of Fishing Boats Repaired per Year ....................................................................... 27
Figure 14: Profitability and Efficiency Ratios ......................................................................................... 28
Figure 15: Valuation Highlights ............................................................................................................. 30
Figure 16: Solvency Ratios.................................................................................................................... 31
Figure 17: Peer Analysis in the Shipyard Industry for 2017 .................................................................. 45
Figure 18: ASMAR’s Business Areas in Naval Shipbuilding (Defence) ................................................ 46

ASMAR – October 2018 5

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 About OIDA Strategic Intelligence

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ASMAR – October 2018 59

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