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  • 1. Q4 and 2009 EarningsConference Call and Webcast March 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 – 4Q09 & 2009 (USD million) Net Revenues Operating Profit Net Revenues Operating Profit Highlights: -4.1% 10.1% -9.3% -9.3%  Wilson, Sons’ 2009 results built on a solid base to confirm long term growth trend, achieved through focus on high margin business areas and volume resilience;  Volume growth at port terminals, % of special operations 129.3 498.3 477.9 117.5 in towage revenues, solid growth in the offshore and 127.2 -39.3% 127.2 -0.1% 115.4 115.4 logistics businesses, and revenue and EBITDA growth at 31.2 13.6% 19.0 13.6% 96.4 96.3 Brasco;  EBITDA results reached US$128.4 million and Net income 25.2 25.2 4Q08 28.7 4Q09 28.7 2008 2009 Operating US$90 million for the year; Margin 26.6% 14.7% 19.4% 20.2% . 2Q08 2Q08 2Q09 2Q09 19.8% 19.8% 24.8% 24.8% EBITDA Net Income -29.7% 4.6% 4.6% 91.9% -29.7% 188.3% 128.4 90.0 39.9 122.7 128.4 57.8 122.7 14.5 39.9 46.9 28.0 17.4 28.0 46.939.9 122.7 5.0 5.0 91.4 4Q08 4Q09 2008 2009 4Q07 4Q08 2007 4Q08 2008 4Q09 2008 2009 EBITDA 4Q08 4Q09 2008 24.6% Net 200914.8% 26.9% 4.3% Net 14.3% 9.4% EBITDA 34.0% 21.7% Margin 34.0% 21.7% 24.6% Margin 26.9% 4.3% 11.2% 9.4% 18.8% Margin Margin 3Q08 2007 2008
  • 4. Highlights Port Terminals  Volume increase at port terminals through resilient cargo mix;  Revenue growth at Brasco, related to demand in oil & gas. Towage Specialoperations as a percentage of towage revenues increased from 9.1% to 14.3%; Fleet size grew to 71 vessels with seven new tugboats delivered in 2009 (Atria, Andromedra, Vega, Hadar, Uranus, Cepheus e Auriga). Offshore  Revenue and EBITDA growth continue with the fleet expansion and demand from oil and gas. Fleet size grew to 7 vessels with 2 new PSV´s delivered in 2009 (Petrel & Skua). Logistics  Year on year EBITDA growth through continued focus on higher margin clients 4
  • 5. Port Terminals KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 2.9% 41.9% 33.7% 37.2% 33.2% 19.8% 175.4 -3.5% 63.4 -8.1% 58.3 170.5 16.9 48.5 16.4 40.5 4Q08 4Q09 2008 2009 4Q08 4Q09 2008 2009 OPERATIONAL INDICATORS TEUs BRASCO (‘000) (USD mn) 242.3 865.1 888.3 223.9 12.3% 13.6% 8.8% 15.2% 78.3% -7.6% 2.7% 15.5% 181.7 32.2% 639.0 399.1 416.4 155.1 627.5 26.7 7.2% 6.69.1 416.4 5.0 6.8 15.016.4 29.2 112.6 3.2 32.4 120.4 284.3 28.2 306.0 39.5 117.2 Deep Sea 136.6 2Q08 2Q094.3 306.0 4Q09 Deep Sea2008 Cabotage 2008 2009 4Q08 2009 4Q08 4Q0906.0 Deep Sea Cabotage Others* Net Revenues As % in Port Terminals 57.2 53.4 57.5Cabotage 57.0 * Includes shifting, transhipment and inland navigation Others 5.2 53.4
  • 6. Towage KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) -0.9% 44.2% 41.8% 37.0% 42.1% 17.6% 147.1 11.1% 15.9 12.5% 61.3 145.7 14.3 38.1 54.532.44Q08 4Q09 2008 2009 4Q08 4Q09 2008 2009 OPERATIONAL INDICATORS # Manoeuvres Special Operations (% of Total Revenues) -1.3% -5.3% -10.0% 11.7% 8.5% 88.8 90.9 82.0 85.7 12,715 13,252 55,655 12,547 12,547 50,065 1H08 91.5% 11.2 18.0 14.3 88.3% 9.1 1H09 3Q09 4Q09 3Q09 4Q09 2008 2009 4Q08 4Q09 2008 2009 Harbour Manoeuvres Special Operations 6
  • 7. Offshore KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 76.9% 85.4% 36.5% 59.8% 50.3% 38.2% 10.7 38.1 6.6 48.9% -40.9% 19.2 7.7 21.6 3.9 12.9 4Q08 4Q09 2008 2009 4Q08 4Q09 2008 2009 OPERATIONAL INDICATORS # Days In Operation # PSVs 40.0% 40.0% 38.1% 50.5% 2* 2* 135 * 231* 463 1814 5 5 5 5433 13594Q08 4Q09 2008 2009 4Q08 4Q09 2008 2009 7 *Petrel & Skua Leased from Ultratug
  • 8. Logistics KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) -15.1% 12.5% 4.3% 7.4% 9.3% -1.3% 89.3 6.5% 7.1 6.620.3 20.0 75.8 2.5 -65.9% 0.94Q08 4Q09 2008 2009 4Q08 4Q09 2008 2009 OPERATIONAL INDICATORS # of Trips # of Operations -27.0% -13.3% -8.0% -37.4% 70,669 17,376 25 25 51,591 22 23 10,873 4Q08 4Q09 2008 2009 4Q08 4Q09 2008 2009 8
  • 9. Shipping Agency KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) Revenue Mix (%) -13.6% by Service 35.9% 21.1% 18.6% 18.8% 15.3% 29% 22% 28% 23% 22% -29.3% 26% 4.3 17.6 3.3 25% 15.2 20.0% 31%3.2 0.8 2.3 0.7 55% 45% 53% 41%4Q08 4Q09 2008 2009 4T08 4T09 2008 2009 1H08 4Q08 1H09 4Q09 Vessel Calls Cntr Controlled BLs Issues OPERATIONAL INDICATORS # Vessel Calls # BLs Issued # of Containers Controlled 12.1% -0.2% -31.1% 21.4% -1.0% -29.7% 6,527 32,087 162,018 1,696 15,319 79,627 32,023 1,397 5,824 15,165 111,652 56,009 4Q08 4Q09 2008 2009 4Q08 4Q09 2008 2009 4Q08 4Q09 2008 2009 9
  • 10. Non-Segmented Activities EBITDA – quarterly and year-to-date 4Q09 vs. 4Q08 (US$ mn) (1.2) (5.7) 1.4 (2.9) (9.8) (1.5) 0.1EBITDA 4Q08 Net Raw Personnel Other Other EBITDA 4Q09 Revenues Materials Expenses Operating Expenses 2009 vs. 2008 (19.8) (18.0) (24.6) 24.0 (3.5) 2.5 (0.2) EBITDA 2008 Net RevenuesRaw Materials Personnel Other Other EBITDA 2009 Expenses Operating Expenses 10
  • 11. EBITDAQuarterly and year-to-date 4Q09 vs. 4Q08: Non-recurring 4Q08 Fiscal credits (USD mn) -29.7% 39.9 28.0 4Q08 EBITDA 4Q09 EBITDA 2009 vs. 2008: Continued EBITDA growth (USD mn) 4.6% 122.7 128.4 2008 EBITDA 2009 EBITDA 11
  • 12. Net Income Quarterly and year-to-date4Q09 vs. 4Q08 4.0 (14.6) (USD mn) 11.8 7.8 (12.8) 13.9 14.5 5.0 188.2% (0.4) (0.3) 0.0 Lucro Líquido Receita Custos de Despesas de Outras Depreciação e Resultado na Resultado na Resultado IRPJ e CSLL Lucro Líquido 4T08 Líquida Insumos e Pessoal Despesas Amortização Venda de Alienação de Financeiro 4T09 Matérias- Operacionais Ativo Investimentos Líquido Primas Imobilizado (USD mn)2009 vs. 2008 7.6 39.8 36.9 (12.8) 2.1 (5.8) (20.4) (0.3) (4.2) 89.9 91.7% 46.9 2008 Net Revenues Raw Materials Personnel Other Depreciation Profit on Gain on Net Financial Income Tax 2009 Net Income Expenses Operating & Disposal of Disposal of Results Expenses Net Income Expenses Amortization PPE Investment Expenses 12
  • 13. Capital Expenditure EVOLUTION: INCREASED CAPITAL INVESTMENT (USD mn) 59.9% 149.6 -0.6% 93.5 33.9 33.7 4Q08 4Q09 2008 2009 27,1% 27,1% 27,1% 27,1% BREAKDOWN: FLEET EXPANSION 2,7% 2,7% 2,7% 2,7% 2,5% 2,5% 2,5% 2,5% 2008 2009 26,8% 26,8% 26,8% 26,8% 30% 21% 33% 46% 1,7% 39,2% 1% 1,7% 1,7% 39,2% 10% 39,2% 1,7% 39,2% 22% 1% 25% 1% 10% Port Terminals Towage 0% Offshore Port Terminals Shipping Agency Towage Port TerminalsShipping Agency Offshore Offshore Port Logistics Terminals Port Terminals Offshore Shipping Agency Port Terminals Shipping Agency Shipping Agency Logistics Offshore Towage Logistics Non-Segmented Activities Agency Shipping Non-Segmented Activities Logistics Logistics Towage Towage Logistics Non-Segmented Activities Towage Non-Segmented Activities Non-Segmented Activities 13 Offshore Non-Segmented Activities
  • 14. Cash Position & Debt Profile LEVERAGE INDICATORS As of December, 31th 2009 (USD mn)USD million 12/31/2009 09/30/2009 06/30/2009Short Term 22.0 19.5 20.1 -189.3Long Term 245.9 181.5 177.7 268.0Total Debt 268.0 201.0 197.9( - ) Cash and Equivalents (189.3) (146.2) (151.4) 3% 78.7( = ) Net Debt (Cash) 78.7 54.8 46.5 3% Total Debt Cash & Equivalents Net Debt DEBT CURRENCY PROFILE 97% 97% As of December, 31th 2009USD million 12/31/2009 12/31/2008 R$ Denominated USD Denominated 9%R$ Denominated 23.3 8.4 R$ Denominated USD DenominatedUSD Denominated 244.6 181.0Total Debt 268.0 189.5 91% DEBT SOURCE PROFILE R$ Denominated USD Denominated As of December, 31th 2009 10% Total Debt (%) 12/31/2009 12/31/2008 BNDES (FMM) 90.3 86.2 Others 9.7 13.8 90% BNDES (FMM) Others 14
  • 15. 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
  • 16. Q4 and YTD 2009 EarningsConference Call and Webcast December 2009