Conference Call Presentation 4Q2011

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Conference Call Presentation 4Q2011

  1. 1. Conference Call and Webcast 4Q11 Earnings March, 2012 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. Consolidated Figures Net Revenues & EBITDA Net Revenues by Business (2011) (USD million) (Cumulative Contribution to total Revenues) 698.0 575.6 120% 271.8 290. Net 176.8 Revenues 159.1 97% 100% 89% 240. 100% 167.4 190. 534.8 80% 69% 140.5 63% 140. Costs 134.4 454.1 128.8 60% 39% 56.7 90.0 41.4 40% 20.3 40.0 EBITDA 20% -10.0 42.4 121.4 163.3 30.4 Port Towage Offshore Logistics Shipyard Shipping Terminals Agency 4Q10 4Q11 2010 2011 Net Income Outlook (USD million) 2011 2012E Δ 70.5 10.1 Int’l Trade Flow* 482.3 516.1 7% (USD Bi) 37.3 Petrobras Oil Production** 2.0 2.1 5% 8.7 (mi bpd) GDP (Brazil)* (USD Tri) 2.1 2.2 3% 4Q10 4Q11 2010 2011 *Based on Central Bank Estimates (March/2012) ** Based on Itau Estimates 3
  4. 4. YoY Highlights by Business Revenues EBITDA Operational Financial 2011 2010 ∆ 2011 2010 ∆ Strong Warehous ing of imported cargoContainer Terminals Reduced volumes of TEU handled Better pricing 203.5 178.8 14% 74.6 61.4 21% Public Port of RJ operationsBrasco Greater # of ves s els turnarounds Higher revs from auxiliary s ervices 68.3 49.2 39% 16.7 14.9 12% Strong activity at EADI Import cargoes at EADILogistics Intes ified in-hous e operations Focus on more profitable operations 140.5 102.4 37% 24.5 13.1 86% Better pricingTowage Higher # of harbour manoeuvres Bigger deadweight of ves s els s erved 167.4 156.2 7% 61.4 53.4 15% More ves s elsOffshore More days in operation Higher Avg. Daily Rates 41.4 28.0 48% 11.3 13.1 -14%Shipyard Cons truction for 3rd party Impact of JV formation 56.7 43.3 31% 15.3 6.1 151%Shipping Agency Higher # of Calls and BLs is s ued Higher Avg. Price in BLs is s ued 20.3 17.6 15% 2.7 0.8 231% 4
  5. 5. Net Income 4Q11 vs. 4Q10 (USD million) 6.1 8.9 (4.8) 0.2 (5.0) (1.1) 8.7 (3.0) 10.1 Net Income 4Q10 Gain LTIP EBITDA D&A Net Financial Results Current Deferred Net Income 4Q11 & (Cash-settled stock ex. G&L and LTIP (ex. G&L) Income Tax Income Tax Loss (G&L) options) 2011 vs 2010 (USD million) 28.9 3.5 22.1 (16.6) (5.1) (20.4) (13.7) 70.5 (10.9) 53.7 (21.0) 37.3 Net Income Capital Gain on Deferred Adj. Gain LTIP EBITDA D&A Net Financial Current Deferred Net Income 2010 JV Transaction Income Tax on Net Income & (Cash-settled ex. G&L and Results Income Tax Income Tax 2011 Gain Loss (G&L) stock options) LTIP (ex. G&L) 5
  6. 6. CAPEX CAPEX Major Expenditures (USD million) 262.9 (USD million) Port Terminals 71.1 • Civil works for Tecon Salvador expansion • Purchase of equipment for both Tecons 166.7 Towage & Offshore • 4 tugboats completed & acquisition from Navemar 69.7 • 2 PSVs delivered Shipyard • Civil works for Guarujá II construction 4Q10 4Q11 2010 2011 CAPEX Breakdown (USD million) 4% 1% 2% 11% 17% 32% 6% 18% 2% 1% 33% 18% 2% 1% 33% 35% 24% 24% 21% 4Q11 21% 2011 23% 14% 22% 31% Port Terminals Towage OffshoreTowageLogistics Port Terminals Shipyard Offshore Shipping Agency Logistics Shipyard Corporate Shipping Agency Corporate 6
  7. 7. Tecon Salvador: Expected to be completed by the beginning of 2H12 Berth and rail reinforcement New equipment Paving and leveling of the retro-area Paving and leveling of the retro-area 7
  8. 8. Shipyard (Guarujá II): Expected to be completed by the end of 1H12 Guarujá II – Aug/2011 Dry-dock– Dec/2011 Dry-Dock – Jan/2012 Dry-dock – Mar/2012 8
  9. 9. Cash Position & Debt Profile Net Debt Debt Maturity Schedule (USD million) (USD million) 283.2 Net Debt / EBITDA* = 2.2 x 136.9 171.4 (491.1) (354.2) 36.5 Total Debt Cash & Equivalents Net Debt Less than 12 months 1 - 5 years More than 5 years *Net Debt / EBITDA calculated using t.t.m. EBITDA Debt Source Profile Debt Curency Profile (%) FMM (%) Outros USD BRL FMM Others 9% 15% 27% 22% 73% 78% 91% 85% 9
  10. 10. Investor Relations Contact Info BM&FBovespa: WSON11 IR website: www.wilsonsons.com.br/ir Twitter: @WilsonSonsIR Youtube Channel: WilsonSonsIR Felipe Gutterres Michael Connell Eduardo Valença CFO of the Brazilian Subsidiary and Investor micr@wilsonsons.com.br evb@wilsonsons.com.br Relations +55 (21) 2126-4107 +55 (21) 2126-4105 ri@wilsonsons.com.br +55 (21) 2126-4122 10

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