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  • 1. Conference Call and Webcast Q3 2010 Earnings November 20101
  • 2. LEGAL ADVICE This presentation contains statements that may constitute “forward-looking statements”, based on current opinions, expectations and projections about future events. Such statements are also based on assumptions and analysis made by Wilson, Sons and are subject to market conditions which are beyond the Company’s control. Important factors which may lead to significant differences between real results and these forward-looking statements are: national and international economic conditions; technology; financial market conditions; uncertainties regarding results in the Company’s future operations, its plans, objectives, expectations, intentions; and other factors described in the section entitled "Risk Factors“, available in the Company’s Prospectus, filed with the Brazilian Securities and Exchange Commission (CVM). The Company’s operating and financial results, as presented on the following slides, were prepared in conformity with International Financial Reporting Standards (IFRS), except as otherwise expressly indicated. An independent auditors’ review report is an integral part of the Company’s condensed consolidated financial statements.2
  • 3. CONSOLIDATED RESULTS – 3Q10 & 9M10 Highlights Net Revenues (USD million) • Net revenues of USD 153.5M, up 18% compared to 3Q10 (YTD up 19%) with volumes increasing in Towage, Logistics, Shipping Agency, and impressive 19% revenue growth at Brasco; 416.4 18% 153.5 • EBITDA of USD 25.2M for 3Q10 and USD 91.1M YTD, including a re-categorisation of USD 10.4M related to Offshore JV formation; 348.6 129.6 • Net income of USD 24.6M for the quarter, down 6%. 3Q09 3Q10 9M09 9M10 EBITDA (USD million) Net Income (USD million) -24% -18% -9% 75.5 26.3 -6% 33.1 100.3 61.9 25.2 91.1 24.6 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M10 EBITDA Net 25.5% 31,2% 16.4% 29,7% 28.8% 21.9% Margin 20.3% 16.0% 21.7% 14.9% Margin (%) (%)3
  • 4. HIGHLIGHTS BY BUSINESS Port System Port Terminals • Revenue growth of 31.7% for the quarter (up 29.7% YTD) • Brasco: impressive revenue growth largely as a result of increased activity and auxiliary services • Tecon Salvador begins expansion that will increase by 50% the Terminal’s capacity Maritime System Towage • Revenues increased 2.0% for the quarter (up 6.0% YTD) • Growth in special operations, which now represents 14.8% of total Revenues Offshore • Decrease of 47.6% in quarterly revenues is a direct result of the joint venture formation • PSV Talha-Mar was added to our fleet on October/2010 Shipyard • Revenues were up 53.3% as a result of accounting recognition for vessels completing Shipping Agency • Higher volumes drive Revenue growth compared to 3Q10 Logistics System Logistics • New contracts were added and increased activity for existing clients.4
  • 5. PORT TERMINALS Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%) 34.1% 35.5% 33.0% 33.7% 32% 30% 32% 37% 164.6 22.9 55.5 64.4 41.9 126.9 16.7 48.9 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M10 Volumes (TEUs ‘000) Brasco Revenues 248.0 247.8 690.0 0% 664.4 85% 4% 84% 15.2 37.0 447.2 178.0 162.6 484.038.0 399.1 416.4 8.2 20.1 399.1 416.4 36.3 97.1 30.0 83.4 416.4 48.9 40.1 97.1 145.674.2 284.3 306.0 Deep Sea 284.3 3Q09 306.0 3Q10 Deep Sea 9M09 Cabotage9M10 3Q09 3Q10 9M09 9M10 306.0 Deep Sea Cabotage Others*29.6 57.2 53.4 * Includes shifting,Cabotage transshipment, and inland navigation Others34.2 57.5 57.0 557.2 53.4
  • 6. TOWAGE Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%) 37.5% 38.6% 42.2% 35.0% -12% 6% 5% 2% 45.4 114.0 15.8 40.9 15.0 40.0 107.6 40.1 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M10 # Manoeuvres Special Operations (% Total Towage Revenues as of 9M10) 2% 4% Harbour Manoeuvres 14.8 Special Operations 13,180 38,085 12,715 37,518 85.2 3Q09 3Q10 9M09 9M106
  • 7. OFFSHORE Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%) -12% 46.6% 50.5% 55.7% 45.7% -48% -43% -27% 27.5 8.9 24.3 4.2 15.3 4.7 2.4 11.1 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M10 # Days in Operation* # PSVs* 60% 50% 10 2,167 819 7 512 1,447 5 2010 2009 2008 3Q09 3Q10 9M09 9M10* Includes the total numbers for the joint venture, of which Wilson, Sons owns 50%7
  • 8. SHIPYARD Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%) 58.4% -60.9% 59.6% 14.6% 61% 31.6 53% 4.5 -61% 11.9 11.7 7.8 19.7 -7.3 4.6 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M108
  • 9. SHIPPING AGENCY Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%) 16% 12.3% 1.5% 14.1% 8.5% 9% -30% -87% 4.7 12.7 4.3 10.9 0.5 1.5 1.1 0.1 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M10 Operational Indicators # Vessel Calls # BLs Issued # Cntrs Controlled 9% 10% 11% 23% 14% 14% 32,400 87,473 17,384 46,748 1,902 5,339 14,151 28,441 79,629 1,738 4,831 40,844 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M109
  • 10. LOGISTICS Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%) 24% 10.2% 9.7% 11.1% 10.3% 38% 15% 69.1 7.1 31% 26.8 2.6 6.2 55.8 19.5 2.0 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M10 # Trips # of Operations 19% 19% 49% 9% 60,843 13,556 25 25 40,718 21 21 12,390 3Q09 3Q10 9M09 9M10 3Q09 3Q10 9M09 9M1010
  • 11. CORPORATE 3Q09 vs. 3Q10 (USD million) (0.5) (0.2) (0.7) (11.3) (9.9) EBITDA 3Q09 Exchange rate effect Personnel expenses Other expenses EBITDA 3Q10 9M09 vs. 9M10 (USD million) (0.7) (1.3) (1.0) (3.7) (28.3) (21.7) EBITDA 9M09 Exchange rate effect Settlement of legal Personnel expenses Other expenses EBITDA 9M10 proceeding11
  • 12. EBITDA 3Q09 vs. 3Q10 (USD million) 6.2 0.8 0.6 (1.8) (11.8) (0.5) (1.4) 33.1 25.2 -24% EBITDA 3Q09 Port Terminals Towage Offshore Logistics Shipyard Shipping Corporate EBITDA 3Q10 Agency 9M09 vs. 9M10 (USD million) 13.6 0.9 (5.4) (4.2) (7.1) (0.5) (6.6) 100.3 91.1 -9% EBITDA 9M09 Port Terminals Towage Offshore Logistics Shipyard Shipping Corporate EBITDA 9M10 Agency12
  • 13. 13 (USD million) (USD million) NET INCOME Net Income Net Income 75.5 26.3 9M09 3Q09 3Q09 vs. 3Q10 * Divestiture of 50% Offshore 9M09 vs. 9M10 EBITDA EBITDA (9.3) (7.9) Disposal on Disposal on 10.4 * * 20.4 investment investment Depreciation Depreciation and and (7.5) (2.5) Amortisation Amortisation -6% -18% Financial Financial (7.0) Results Results (21.1) Current Current 3.1 14.0 Income Tax Income Tax Deferred Deferred 2.2 Income Tax Income Tax (10.2) Net Income Net Income 24.6 3Q10 61.9 9M10
  • 14. CAPITAL EXPENDITURES Capital Expenditures (USD million) Major expenditures -16% 115.9 • Port Terminals: civil works for Tecon RG (50m inflexion) and purchase of other equipment across the business (STS, RTGs and MHC); 97.1 -4% • Towage: fleet renewal and expansion (2 tugboats delivered by 30 September 2010) • Offshore: fleet expansion (3 vessels were delivered in 36.4 2010) 38.1 • Logistics: equipment for new client in-house operations , 3Q09 3Q10 9M09 9M10 such as fork-lifts and tractors. 21% 1% 2% Capex Breakdown 29% 1% 1% 2% 9% 21% 21% 29% 23% 20% 9M09 9M10 20% 27% 47% 27% Port Terminals Towage Offshore Logistics Shipyard Shipping Agency Corporate14
  • 15. CASH POSITION & DEBT PROFILE Leverage Indicators (USD million) Debt maturity profile Long Term Short Term 9% - 145.7 290.2 144.5 Total Debt Cash and Net Debt Equivalents 91% Debt Source Profile Debt Currency Profile FMM Others USD BRL 15% 22% 78% 85%15
  • 16. INVESTOR RELATIONS CONTACTS Felipe Gutterres Michael Connell CFO of the Brazilian Subsidiary, Legal Representative Investor Relations and Investor Relations michael.connell@wilsonsons.com.br ri@wilsonsons.com.br Phone: + 55 (21) 2126-4107 Phone: + 55 (21) 2126-4122 Guilherme Nahuz Eduardo Valença Investor Relations Investor Relations guilherme.nahuz@wilsonsons.com.br eduardo.valenca@wilsonsons.com.br Phone: + 55 (21) 2126-4263 Phone: + 55 (21) 2126-4105 IR website: www.wilsonsons.com.br/ir Twitter: @WilsonSonsIR BM&F Bovespa: WSON11 Bloomberg: WSON11 BZ Reuters: WSON11.SA16

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