Conference Call (1Q12)

720 views

Published on

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
720
On SlideShare
0
From Embeds
0
Number of Embeds
45
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Conference Call (1Q12)

  1. 1. Conference Call and Webcast 1Q12 Earnings May, 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. 1Q12 Results 3
  4. 4. Consolidated Figures Net Revenues, EBITDA & Adj. EBITDA Net Revenues by Business (1Q12) (USD million) (Cumulative Contribution to Wilson Sons Revenues) 70.0 150% 59.9 1Q12 1Q11 Chg. (%) 60.0 130% 96% 100% 110% Net Revenues 157.2 156.6 0.3 50.0 90% 40.4 83% 90% (-) Raw Materials -19.6 -17.3 12.9 40.0 64% 29.8 70% (-) Personnel Expenses -65.0 -48.5 33.8 30.0 38% 50% (-) Other Operating Expenses -44.0 -50.9 -13.4 20.0 12.0 9.4 30% (=) EBITDA 28.6 39.9 -28.3 10.0 5.7 10% (-) Long-Term Incentive Plan "LTIP" -5.2 5.8 -189.4 0.0 -10% (=) Adjusted EBITDA 33.8 34.1 -0.7 Port Towage Logistics Shipyard Of f shore Shipping Terminals Agency Net Income (USD million) -67.0% -15.4% 3.0 0.5 (5.8) (0.3) 19.7 (0.8) 13.9 (4.6) 11.7 (5.2 ) 6.5 Net Income LTIP Adjusted Net Δ EBITDA D&A Financial Financial Income Adjusted Net LTIP Net Income 1Q11 1Q11 Income (ex-"LTIP") Revenues Expenses Tax Income 1Q12 1Q12 1Q11 1Q12 4
  5. 5. 1Q12 Highlights by Business Net Revenues EBITDA Business Operational Highlights Financial Highlights 1Q12 1Q11 ∆ 1Q12 1Q11 ∆ Higher # of TEU handled Constraint in Tecon Salvador 47.5 48.3 16.5 20.3 Enf of the Petrobras operation public Reduced # of vessels turnaround port of RJ 12.4 16.5 3.3 4.1 One-off cost related to the Discontinuation of operations discontinuation 29.8 33.1 4.2 5.7 Greater # of harbour manoeuvres Larger Operational fleet New accounting treatment (fuel) 40.4 35.9 9.0 12.0 More vessels More days in operation One-off cost from PSV-Sterna 9.4 6.9 1.5 1.5 Higher # of OSVs under construction Cost Efficiency 12.0 11.7 4.7 3.4 Higher # of vessels calls - 5.7 4.0 0.0 0.0 5
  6. 6. Cash & Leverage CAPEX 1Q12 CAPEX Breakdown (USD million) (%) 54.8 24% Port Terminals 24% 32% 43.0 32% Towage 1% Offshore 1% 8% Logistics 8% Shipyard 34% 1Q11 1Q12 34% Debt Debt Maturity Schedule (USD million) (USD million) Net Debt / EBITDA* = 2.5x 298.5 138.8 177.1 (516.0) (377.2) 40.5 Total Debt Cash & Equivalents Net Debt Less than 1 year 1 - 5 years More than 5 years * Net Debt / EBITDA calculated using t.t.m. EBITDA 6
  7. 7. Outlook 7
  8. 8. Tecon Salvador Expansion Arrival of New Equipment (Dec/2011) Secondary quay (April/2012) Paving and leveling of the retro-area (May/2012) Paving and leveling of the retro-area (May/2012) 8
  9. 9. Guarujá II Shipyard Guarujá II (Aug/2011) Dry-dock (Dec/2011) Guarujá II (Apr/2012) Dry-dock (May/2012) 9
  10. 10. A positive future: what is coming? The end of Tecon Salvador and Guarujá II Shipyard expansions Commencement of 2 new Logistics Centers: Itapevi (SP) and Suape (PE) Martini meat ramp-up benefiting Tecon RG higher-yielding reefer volumes Five new PSVs will be launched for WSUT by the end of 2013 10
  11. 11. 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 11

×