Second Quarter 2006

Ports

Maritime

Logistics

Corporate and Others

Total

Revenues

1,729

36,945

22,607

(16)

61,265

Costs

1,199

27,712

20,168

35

49,114

Gross Result

530

9,233

2,439

(51)

12,151

Gross Margin

30.7%

25.0%

10.8%

(318.8%)

19.8%

SG & A (Estimate)

395

1,273

1,860

5,438

8,966

Operating Results

135

7,960

579

(5,489)

3,185

Operating Margin

7.8%

21.5%

2.6%

n.a.

5.2%

*II Trimestre de 2005

Ports

Maritime

Logistics

Corporate and Others

Total

Revenues

8,608

42,702

24,402

(40)

75,672

Costs

7,390

36,929

23,892

(62)

68,149

Gross Result

1,218

5,773

510

22

7,523

Gross Margin

14.1%

13.5%

2.1%

55.0%

9.9%

SG & A (Estimate)

1,076

1,058

1,240

4,078

7,452

Operating Results

142

4,715

(730)

(4,056)

71

Operating Margin

1.6%

11.0%

(3.0%)

n.a.

0.1%

Acumulado al II Trimestre de 2006

Ports

Maritime

Logistics

Corporate and Others

Total

Revenues

3,833

68,134

51,766

(76)

123,657

Costs

2,370

52,097

47,073

(111)

101,429

Gross Result

1,463

16,037

4,693

35

22,228

Gross Margin

38.2%

23.5%

9.1%

46.1%

18.0%

SG & A (Estimate)

782

2,594

3,433

10,518

17,327

Operating Results

681

13,443

1,260

(10,483)

4,901

Operating Margin

17.8%

19.7%

2.4%

n.a.

4.0%

*Acumulado al II Trimestre de 2005

Ports

Maritime

Logistics

Corporate and Others

Total

Revenues

17,496

72,632

50,162

(73)

140,217

Costs

14,378

62,833

47,088

(89)

124,210

Gross Result

3,118

9,799

3,074

16

16,007

Gross Margin

17.8%

13.5%

6.1%

21.9%

11.4%

SG & A (Estimate)

2,112

2,001

2,486

8,170

14,769

Operating Results

1,006

7,798

588

(8,154)

1,238

Operating Margin

5.7%

10.7%

1.2%

n.a.

0.9%