Conference call presentation 3Q2012

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Conference call presentation 3Q2012

  1. 1. Conference Call and Webcast 3Q12 Earnings November, 14th, 2012 Speaker: Mr. Felipe Gutterres (CFO) 1
  2. 2. Disclaimer 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. 3. 3Q12 & 9M12 Figures 3
  4. 4. Consolidated Figures: Good results in a challenging 2012 so far... 3Q12 Net Revenues 3Q12 Highlights (USD million) Record quarterly EBITDA 70 150% 60 58.4 130% 46.5 96% 100% 110% 50 91% 84% Solid Tecons, Towage, and Offshore performances 40 67% 90% 70% 30 27.1 37% 50% Final stages of Tecon SSA and Guaruja II expansions 20 11.8 30% 10 6.9 6.7 10% 0 -1 0 % Discontinuation of Dedicated Logistics Operations Port Terminals Towage Logistics Offshore Shipyard Shipping Vessels Agency 3Q12 EBITDA (USD million) 5.0 0.4 1.4 0.7 3.4 1.0 (5.0) (6.9) 47.2 47.4 EBITDA Port Towage Offshore Logistics Shipyard Shipping Corporate LTIP EBITDA 3Q11 Terminals Vessels Agency 3Q12 4
  5. 5. 9M12 Highlights by Business: Slowdown in volumes compensated by Better Pricing and Lower costs Net Revenues EBITDA Business Operational Highlights Financial Highlights 9M12 9M11 ∆ 9M12 9M11 ∆ Weaker USD/BRL FX Rate Rio Grandes Rice and Frozen Chicken volumes down Ship-owners Transshipment to own 140.4 156.6 52.3 59.1 private ports End of the temporary Petrobras Reduced # of vessel turnaround operation 29.5 52.9 7.4 12.6 Phase out of dedicated operations Phase out of dedicated operations 86.1 108.4 12.1 20.8 Better price mix Lower # of harbour manoeuvres Heavier avg. deadweights 128.0 120.9 41.3 38.7 More days in operation Higher average daily rates Larger fleet of owned PSVs Price Renegotiation 32.9 28.8 10.7 7.8 Weaker USD/BRL FX Rate Higher # of OSVs under construction Pre-operational charges for Guarujá II 33.7 39.4 8.6 9.5 Higher # of vessel calls Improved average pricing 17.9 14.3 3.0 1.1 5
  6. 6. Net Income: Excluding LTIP provisions, higher Net Income in both comparatives 3Q12 vs. 3Q11 (USD million) 17.9 16.9 7.0 6.5 1.1 (6.1) (6.9) (2.7) Net Income Δ EBITDA LTIP D&A Net Financial Results FX Gain (Loss) Income Tax Net Income 3Q11 (ex-LTIP) Provisions (ex-FX Loss) on Investments 3Q12 9M12 vs. 9M11 (USD million) 27.3 20.3 18.8 (5.3) (10.0) 3.0 (7.5) (9.1) Net Income Δ EBITDA LTIP D&A Net Financial Results FX Gain (Loss) Income Tax Net Income 9M11 (ex-LTIP) Provisions (ex-FX Loss) on Investments 9M12 6
  7. 7. Cash & Leverage: Comfortable cash position with relatively low indebtedness CAPEX 9M12 CAPEX Breakdown 4% (USD million) (%) 191.9 3% Port Terminals 26% 87.0 19% 42% Towage Port Terminals 135.6 32% Offshore Vessels Towage 47.9 Logistics 4% Offshore 3% Shipyard 0% Logistics Corporate Shipyard 24% 25% Corporate 3Q11 3Q12 9M11 9M12 18% Debt, Cash and Net Debt Debt Maturity Schedule (USD million) (USD million) Net Debt / EBITDA* = 2.8x Weighted Avg. Cost of Debt 318.7 3.66% per year 135.8 185.8 (549.1) (413.2) 44.5 Total Debt Cash & Equivalents Net Debt * Net Debt / EBITDA calculated using t.t.m. EBITDA Less than 1 year 1 - 5 years More than 5 years 7
  8. 8. 9M12 Outlook 8
  9. 9. The new Container Terminal of Salvador 9
  10. 10. Expansion of Salvador Container Terminal: New Expressway 10
  11. 11. Guarujá II Shipyard 11
  12. 12. 2013: What is coming? Tecon Salvador: 100% operational and new weekly services Guarujá II Shipyard: 100% operational and ROVSV construction for Fugro Briclog: After the acquisition, beginning of berth expansion Offshore Vessels: Owned fleet of 19 PSVs Towage: 3 new azimuth tugboats Logistics: Beginning of LC Suape operations 12
  13. 13. Investor Relations Contact Info Felipe Gutterres Michael Connell CFO of the Brazilian Subsidiary and Investor Relations Investor Relations ri@wilsonsons.com.br michael.connell@wilsonsons.com.br +55 (21) 2126-4112 +55 (21) 2126-4107 BM&FBovespa: WSON11 IR website: www.wilsonsons.com.br/ir Twitter: @WilsonSonsIR Youtube Channel: WilsonSonsIR Eduardo Valença George Kassab Investor Relations Investor Relations eduardo.valenca@wilsonsons.com.br george.kassab@wilsonsons.com.br +55 (21) 2126-4105 +55 (21) 2126-4263 13

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