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  • 1. Q1 2010 EarningsConference Call and Webcast May 2010
  • 2. Legal AdviceThis presentation contains statements that may constitute “forward-looking statements”,based on current opinions, expectations and projections about future events. Suchstatements are also based on assumptions and analysis made by Wilson, Sons and are subjectto market conditions which are beyond the Company’s control.Important factors which may lead to significant differences between real results and theseforward-looking statements are: national and international economic conditions; technology;financial market conditions; uncertainties regarding results in the Company’s futureoperations, its plans, objectives, expectations, intentions; and other factors described in thesection entitled "Risk Factors“, available in the Company’s Prospectus, filed with the BrazilianSecurities and Exchange Commission (CVM).The Company’s operating and financial results, as presented on the following slides, wereprepared in conformity with International Financial Reporting Standards (IFRS), except asotherwise expressly indicated. An independent auditors’ review report is an integral part ofthe Company’s condensed consolidated financial statements. 2
  • 3. Consolidated Results – 1Q10 (USD million) NetNet Revenues Operating Profit Revenues Operating Profit Highlights:  Wilson, Sons has seen mixed 1Q10 results with growth in -9.3% -9.3% 17.2% Revenues and volumes, but with softer margins;  Growth in volume at Port terminals including container 121.4 terminals and Brasco, growth in % of Towage special 103.6 operations, growth in revenues for Offshore, Logistics 127.2 127.2 115.4 -40.0% 115.4 and Shipping Agency; 13.6% 13.6% 23.8 14.3  EBITDA of USD 23.8 million and Net income of USD 6.2 million for the quarter; 25.225.2 28.728.7 1Q09 1Q10 Operating 22.9% 11.8% Margin 2Q08 2Q08 2Q09 2Q09 19.8% 19.8% 24.8% 24.8% EBITDA Net Income -29.7% -23.7% 4.6% 16.1 -61.5% 31.2 128.4 39.9 122.7 57.8 23.8 46.9 28.0 17.439.9 122.7 6.2 5.0 91.4 4Q08 4Q09 1Q09 1Q10 2008 2009 4Q07 4Q08 2007 2008 1Q09 1Q10 EBITDA 34.0% EBITDA 21.7% 24.6% Net 26.9% 14.8% 4.3% 14.3% 9.4% Margin 30.1% 19.6% Margin Net 15.6% 5.1% Margin Margin 3Q08 2007 2008
  • 4. Highlights• Port Terminals • Strong volume increase at port terminals with growth in both deep see and cabotage volumes although higher-margin storage decreased against 1Q09; • Revenue growth of 47.5% at Brasco, related to demand in oil & gas.• Towage •Special operations as a percentage of towage revenues increased from 12.9% to 14.9%; •Weakness in global demand and increased competition persisted in 1Q10, putting downward pressure in margins.• Offshore • Revenue growth continues with the fleet expansion and demand from oil and gas. •Revenues up 32.8% compared to the same quarter last year with 8 PSV’s in operation.•• Logistics • New contract in the petrochemical industry and extension of existing contracts • Higher-margin warehousing services decreased compared to 1Q09.•Shipping Agency• • Higher volumes drive compared to 1Q09.• Shipyard • Environmental License for Installation. 4
  • 5. Port Terminals KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 28.1% 30.9% 28.8% 19.5% 44.3 34.6 12.8 10.7 1Q09 1Q10 1Q09 1Q10 OPERATIONAL INDICATORS TEUs (‘000) BRASCO Revenues & % of Total 16.4% Port Terminal Revenues 207.7 178.4 (USD mn) 14.7% 16.9% 416.4 139.6 399.1 131.8 47.5%9.1 416.416.4 27.0 23.9 7.5 284.3 22.8 306.0 41.1 Deep Sea 5.14.3 306.0 Deep Sea 1Q09** 1Q10 Cabotage06.0 Deep Sea Cabotage Others* 57.2 53.4 Cabotage 57.0 Others * Includes57.5 transhipment and inland navigation shifting, 1Q09 1Q10.2 53.4 ** Tecon Salvador, Tecon Rio Grande and Fortaleza (no longer in operations 5 Others since 2Q09) Public Port Operations included
  • 6. Towage KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 13.5 42.9% 34.2% 12.8% -10.1% 35.4 13.5 12.131.41Q09 1Q10 1Q09 1Q10 OPERATIONAL INDICATORS # Manoeuvres Special Operations 0.5% (as a % of Total Revenues) 11.7% 8.5% 87.1 85.1 12,295 12,353 1H08 91.5% 88.3% 14.9 12.9 1H09 1Q09 1Q10 1Q09 1Q10 Harbour Manoeuvres Special Operations 6
  • 7. Offshore KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 32.8% 60.7% 35.3% -22.9% 10.8 5.0 8.2 3.8 1Q09 1Q10 1Q09 1Q10 OPERATIONAL INDICATORS# Days In Operation # PSVs 45.3% 60.0% 149 * 2* 434 482 6 51Q09 1Q10 1Q09 1Q10 7 *Petrel & Skua Leased from Ultratug
  • 8. Logistics KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 6.4% 13.7% 10.6% -17.6% 2.619.3 20.6 2.21Q09 1Q10 1Q09 1Q10 OPERATIONAL INDICATORS # of Trips # of Operations 8
  • 9. Shipping Agency KEY FINANCIALS (USD mn)NET REVENUES EBITDA & EBITDA Margin (%) Revenue Mix (%) by Service 9.4% 3.1% 28.9% 20% 23% -57.8% 15% 9% 3.9 65% 68% 3.0 0.3 0.1 1Q09 1Q10 # of Vessel Calls1Q09 1Q10 1Q09 1Q10 BLs Issued # of Containers Controlled OPERATIONAL INDICATORS # Vessel Calls # BLs Issued # of Containers Controlled 16.5% 9.7% 3.7% 1,671 12,462 13,667 25,402 26,351 1,434 1Q09 1Q10 1Q09 1Q10 1Q09 1Q10 9
  • 10. Shipyard KEY FINANCIALS (US$ mn) (USD mn)NET REVENUES EBITDA & EBITDA Margin (%) -9,4% 65,7% 22,1% -69,5% 4,7 7,2 6,5 1,41Q09 1Q10 1Q09 1Q10 OPERATIONAL INDICATORS PSV´s in Construction Tugboats in Construction 3 2 5 5 1 1 1Q09 1Q10 1Q09 1Q10 # PSV (own) # PSV (third-party) 10
  • 11. CorporateEBITDA 1Q10 vs. 1Q09 (US$ mn) (5,5) (8,6) (0,4) (1,5) (0,4) (0,8) Corporate 1Q09 Underlying Personnel F/X effect on Phantom Stock Other Operating Corporate 1Q10 Expenses Personnel Cost Options Expenses 11
  • 12. EBITDA 1Q10 vs. 1Q09: EBITDA Reconciliation (USD mn) 2.1 (1.4) (1.1) (0.5) (3.3) (0.2) (3.1) 31.2 23.8 -23.7%EBITDA 1Q09 Port Terminals Towage Offshore Logistics Shipyard Shipping Agency Corporate EBITDA 1Q10 (0.1) (4.5) (7.9) (1.1) 17.8 (0.4) (7.8) (3.4) -23.7% 31.2 23.8EBITDA 1Q09 Net Revenues Raw Materials Personnel Personnel Personnel Other Other Other EBITDA 1Q10 Expenses Expenses BRL Expenses Operating Operating Operating Underlying effect Phantom Stock Expenses Expenses BRL Expenses Options Underlying Effect Contingent 12 Provision
  • 13. Net Income1Q09 thru 1Q10 (USD mn) (0.1) (13.5) 17.8 -61.5% (11.6) 16.1 (2.1) (5.1) 4.7 6.2 1Q09 Net Revenues Raw Materials Personnel Other Operating Depreciation & Net Financial Income Tax 1Q10 Net Income Expenses Expenses Amortization Results Expenses Net Income Expenses 13
  • 14. Capital Expenditures CONTINUED CAPITAL INVESTMENT (USD mn) 44.5 35.2 1Q09 1Q10 CAPEX BREAKDOWN 1Q09 1Q10 45% 32% 30% 0% 1% 5% 26% 1% 28% 0% 9% 23% Port Terminals Towage Offshore Logistics Shipyard Shipping Agency 14
  • 15. Cash Position & Debt Profile LEVERAGE INDICATORS As of March, 31st 2010 USD million 03/31/2010 12/31/2009 (USD mn) -195.8 Short Term 23,4 22,0 Long Term 258,2 245,9 281.6 Total Debt 281,6 268,0 ( - ) Cash and Equivalents (195,8) (189,3) 85.8 ( = ) Net Debt (Cash) 85,8 78,7 Total Debt Cash & Equivalents Net Debt DEBT CURRENCY PROFILE As of March, 31st 2010 8,4% USD million 03/31/2010 12/31/2009 R$ Denominated 23,6 23,3 R$ Denominated USD Denominated 258,0 244,6 USD Denominated Total Debt 281,6 268,0 91,6% DEBT SOURCE PROFILE As of March, 31st 2010 16,4%Total Debt Breakdown (%) 03/31/2010 12/31/2009BNDES (FMM) 83,6 86,0Others 16,4 14,0 83,6% BNDES (FMM) Others 15
  • 16. Investor Relations Felipe Gutterres Michael ConnellCFO of the Brazilian subsidiary & Investor Relations Investor Relations Telephone: + 55 (21) 2126-4222 E-mail: michael.connell@wilsonsons.com.br Telephone: + 55 (21) 2126-4107 IR website: www.wilsonsons.com/ir IR e-mail address: ri@wilsonsons.com.br Guilherme Nahuz Eduardo Valença Investor Relations Investor Relations E-mail: guilherme.nahuz@wilsonsons.com.br E-mail: eduardo.valenca@wilsonsons.com.br Telefone:: + 55 (21) 2126-4263 Telephone: + 55 (21) 2126-4105
  • 17. Q1 2010 EarningsConference Call and Webcast May 2010