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1 q09 presentation Presentation Transcript

  • 1. 1Q09 EarningsConference Call and Webcast May 19, 2009
  • 2. Legal Advice This presentation may contain “forward-looking statements” about futureevents or results, in accordance with Brazilian and international regulationsgoverning stock markets. Such statements reflect the assumptions and analysismade by Wilson, Sons (“the Company”) based on experience, the prevailingeconomic environment, market conditions, and expected future events, whichare beyond the Company’s control. Important factors, which may lead to significant differences between realresults and these forward-looking statements include: the Companys businessstrategy, national and international economic conditions, technology, financialstrategies, financial market conditions, uncertainties regarding the results of theCompany’s future operations, its plans, objectives, expectations, intentions, andother factors described in section entitled "Risk Factors”, made public in theCompany’s initial public offering prospectus, filed with the Brazilian SecuritiesCommission. As a result of these factors, the Company’s real results may differsubstantially from those expressed or implied in forward-looking statements. 2
  • 3. Consolidated Results – 1Q09 (USD mn) Net Revenues  Positive earnings growth despite the negative impact on volumes due to adverse market conditions;  Growth in the offshore business, special operations in towage, and also warehousing activities in port terminals and logistics; 121.2 -14.5% 103.6  Consolidated results inched higher, strengthened by the Company’s diversified business model, capacity expansion projects and cost-cutting initiatives, amid declining business volumes at core businesses. 1Q08 1Q09(USD mn) Operating Profit (USD mn) EBITDA (USD mn) Net Income 44.1% 42.2% 31.2 22.5% 23.8 16.1 16.7 21.7 13.2 1Q08 1Q09 1Q08 1Q09 1Q08 1Q09 EBITDAOperating Margin 17.9% 30.1% Net 13.8% 22.9% 10.9% 15.6% Margin Margin 3
  • 4. Highlights Port Terminals  Tecon Rio Grande: Challenging business scenario affecting volumes;  Tecon Salvador: Lower results from export volumes. Expansion project still under negotiation;  Brasco: Acquisition of Brasco’s operational base area in Jan/09. New mid-and long-term contracts in 1Q09. Towage  Delivery of tugboat Atria in Mar/09;  Greater share of special operations in revenues, normally carrying better daily rates. Offshore  Spot operations still in place. Logistics  Larger number of value-added services and warehousing activities. Shipyard  Delivery of PSV Petrel in Mar/09: the first of 4 vessels to be delivered to third parties. Subsequent Event  Payment of Dividends in May/09: USD 16 million; USD 0.225 per share; 34.1% of Full Year 2008 Net Income. 4
  • 5. Port Terminals OPERATIONAL INDICATORS NET REVENUES (USD mn) & WHAREHOUSING (%) Chg. = -8.8% TEUs (‘000)Chg. = -11.2% 200.9 178.4 141,4 132,2 141.4 -6.5% 132.2 37.9 34.6 56,6 46,2 -18.3% 25.1% 16.2% 1Q08 56.6 1Q09 46.2 1Q08 1Q09 1Q08 1Q09 Tecon Salvador Tecon Rio Grande Brasco Revenues (USDTecon Salvador mn) & Participation (%) Rio Tecon Grande EBITDA (USD mn) & EBITDA Margin (%)Chg. = 119.8% Chg. = -9.7% 31.2% 30.9% 8.7% 3.6% 11.8 10.7 3.0 1.4 1Q08 1Q09 5 1Q08 1Q09
  • 6. Towage OPERATIONAL INDICATORS NET REVENUES (USD mn) Chg. = -13.7% # ManoeuvresChg. = -16.0% 14,640 12,295 36.3 31.4 1Q08 1Q09 1Q08 1Q09 Special Operations Participation (%) EBITDA (USD mn) & EBITDA Margin (%) Chg. = 17.0% 8.5% 8.5% 42.9% 7.0% 5.6% 92.6 87.1 31.7% 3Q07 9M07 13.5 11.5 7.4 12.9 3Q08 9M08 1Q08 1Q09 1Q08 1Q09 Harbour Manoeuvres Special Operations 6
  • 7. Logistics OPERATIONAL INDICATORS NET REVENUES (USD mn) Chg. = -12.6% # of TripsChg. = -10.0% 17,420 15,675 22.1 19.3 1Q08 1Q09 1Q08 1Q09 # of Operations EBITDA (USD mn) & EBITDA Margin (%)Chg. = -8.0% Chg. = 35.5% 13.7% 25 8.8% 23 2.6 2.0 1Q08 1Q09 1Q08 1Q09 7
  • 8. Shipping Agency OPERATIONAL INDICATORS NET REVENUES (USD mn) Chg. = -38.2% Vessel CallsChg. = -3.3% 1,483 1,434 4.9 3.0 1Q08 1Q09 Bills of Lading IssuedChg. = -45.1% 1Q08 1Q09 EBITDA (USD mn) & EBITDA Margin (%) 22,693 Chg. = -55.0% 12,462 1Q08 1Q09 Containers Controlled Chg. = -45.3% 12.9% 9.4% 46,405 0.6 0.3 25,402 1Q08 1Q09 8 1Q08 1Q09
  • 9. Offshore OPERATIONAL INDICATORS NET REVENUES (USD mn) Chg. = 154.9% # PSVsChg. = 66.7% 8.2 3.2 1Q08 1Q09 1Q08 1Q09 Days in Operation EBITDA (USD mn) & EBITDA Margin (%)Chg. = 59.0% Chg. = 325.8% 60.7% 36.4% 434 273 5.0 1.2 1Q08 1Q09 1Q08 1Q09 9
  • 10. Non-Segmented ActivitiesEBITDA – quarterly 1Q09 x 1Q08 (USD mn) 0.2 -0.8 0.2 -5.4 4.2 Fx Impact Others 1Q08 EBITDA 1Q09 EBITDA Shipyard Activities 10
  • 11. EBITDA 1Q09 vs 1Q081Q09 x 1Q08 (USD mn): Double-digit growth, despite pressured volumes from adverse market conditions 44.1% 31.2 21.7 1Q08 EBITDA 1Q09 EBITDA 11
  • 12. 1Q08 Net Incom e 13.2 quarterly Net Revenues -17.6 Net Income Raw Materials 14.5 Personnel Expenses 3.9 Depreciation & -2.5 Am ortisation ExpensesOther Operating Expenses 8.8 1Q09 x 1Q08 (USD mn) Profit on disposal of Property Plant & -0.1 Equipm ent Net Financial Results -0.8 Incom e Tax Expenses -3.3 1Q09 Net Incom e 16.1
  • 13. Consistent Investment & Low Leverage Ratios CAPEX LEVERAGE CAPEX EVOLUTION (USD mn) CURRENCY BREAKDOWN Chg. = 162.6% (USD mn) 03/31/2009 12/31/2008 09/30/2008 R$ Denominated 4.0 4.2 4.9 USD Denominated 175.3 181.0 153.3 44.5 Total Debt 179.2 185.2 158.2 17.0 1Q08 1Q09 CAPEX 27,1% 27,1% 27,1% BREAKDOWN LEVERAGE INDICATORS 1Q08 2,7% 1Q09 2,7%2,7% 2,5% 2,5% 2,5% 30.1% 26,8% 26,8% 26,8% 35.8% Offshore 0.0% (USD mn) Offshore 03/31/2009 12/31/2008 09/30/2008 37.8% Terminais Portuários Short Term Portuários Terminais 16.4 15.5 13.3 Agenciamento Marítimo 9.3% Long TermAgenciamento Marítimo 162.8 169.7 144.9 28.4% Total Debt 179.2 185.2 158.2 Logística Logística Rebocagem ( - ) Cash and Equivalents Rebocagem -163.4 -180.0 -174.7 1,7% 1,7% 1,7% ( = ) Net Debt/Cash 15.8 5.2 -16.5 39,2% 39,2% 39,2% 0.9% Atividades Não-segmentadas Atividades Não-segmentadas 1.7% 6.5% 0.8% 17.4% 31.4%Offshore Offshore Offshore Port Terminals Port Port Terminals Terminals Shipping Agency Shipping Agency Shipping AgencyLogistics Logistics Logistics Towage Towage Towage Non-Segmented Activities Non-Segmented Activities Non-Segmented Activities 13
  • 14. Investor Relations Felipe Gutterres Sandra CalcadoCFO of the Brazilian subsidiary. Legal Investor Relations ManagerRepresentative & Investor Relations E-mail: sandra.calcado@wilsonsons.com.br E-mail: ri@wilsonsons.com.br Telephone: + 55 (21) 2126-4263 Telephone: + 55 (21) 2126-4222 IR website: www.wilsonsons.com/ir IR e-mail address: BOVESPA: WSON11 Bloomberg: WSON11 BZ ri@wilsonsons.com.br Reuters: WSON11.SA
  • 15. 1Q09 EarningsConference Call and Webcast May 19, 2009