Institucional janeiro 2009
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Institucional janeiro 2009 Presentation Transcript

  • 1. Institutional Presentation January 2009 1
  • 2. Legal Advice This presentation may include forward-looking statements aboutfuture events or results, in accordance with Brazilian and internationalregulations governing stock markets. Such statements are based solelyon assumptions and analyses made by Wilson, Sons (“the Company”),as well as on experience, economic environment, market conditions,and expected future events, many of which are beyond the Company’scontrol. Important factors, which can lead to significant differencesbetween real results and these forward-looking statements, include theCompanys business strategy, national and international economicconditions, technology, financial strategies, developments in financialmarket conditions, uncertainty regarding the results of the Company’sfuture operations, plans, objectives, expectations, intentions, and otherfactors as described in the section entitled “Risk Factors”, in theCompany’s Preliminary Prospectus, filed with Brazilian SecuritiesCommission. As a result of these factors, the Company’s real resultsmay differ substantially from those expressed or implied in forward-looking statements. 2
  • 3. Wilson Sons Limited Corporate Structure Controlling Group Free Float 50.1% 49.9% Ocean Wilsons Holdings Limited 58.3% 41.7% Wilson Sons Free FloatListing on the Bovespa LimitedBermudaBrazil 3
  • 4. COMPANY OVERVIEW 4
  • 5. One of the Largest Providers of Integrated Port & Maritime Logistics and Supply Chain Solutions in Brazil… Oil Platforms • Net Revenues US$10.7mn 2007 US$13.8mn 9M08 • 4% of Total Net Revenues 9M08 • EBITDA Margin 45.4% 9M08 • Net Revenues US$146.8mn 2007 US$114.7mn 9M08 • 30% of Total Net Revenues 9M08 • EBITDA Margin 35.0% 9M08 • Net Revenues US$69.1mn 2007 • Net Revenues US$20.4mn 2007 US$69.0mn 9M08 US$14.4mn 9M08 • 18% of Total Net Revenues 9M08 • 4% of Total Net Revenues 9M08 • EBITDA Margin 5.9% 9M08 • EBITDA Margin 18.3% 9M08 • Net Revenues US$149.0mn 2007 US$130.1mn 9M08 • 34% of Total Net Revenues 9M08 • EBITDA Margin 35.8% 9M08Note: Figures as of September 30, 2008 Client, Operational, and Management Synergies Define Our Business Model 5
  • 6. …with Nationwide Coverage & Solid Client’s Track Record • Uniquely Qualified to Provide Port and Maritime Logistics RR AP Services for Participants in National and International Trade Belém Fortaleza AM PA MA CE RN PI PB Recife PEAC RO TO AL Maceió SE BA MT Salvador • Diversified Client Base & Strong Client Relationship DF GO MG Belo horizonte MS ES SP RJ São Paulo Rio de Janeiro PR SC • Over 7,000 Active Clients, Business Relationship with Our Top RS Ten Customers Average Over Ten Years Head Office • No Single Customer Accounts For Over 10% of Total Revenues Port Terminals Towage Logistics Shipping Agency Offshore • Unparalleled Track Record: 170 Years of Experience Shipyard 6
  • 7. One of the Largest Container Operators in Brazil 3Q08 Net Revenues US$47.4 million 35.8% of Total Net Revenues PORT TERMINALS EBITDA Margin 38.1%TECON RIO GRANDE Net Revenues up 17.8% over 3Q07  Services Provided – Port Operations for the loading and unloading of vessels – Warehousing and auxiliary services POSITIONINGTECON SALVADOR Source: CNNT / Datamar (% of Brazilian Throughput in TEUs, as of 2006) OPERATIONAL INDICATORS – Number of TEUS (‘000) 662*BRASCO TERMINAL 622* Deep Sea Full Containers Deep Sea Empty Containers Cabotage * Include others (i.e. shifting, transhipment, and inland navigation). 7 7
  • 8. Unrivalled Towage Market Leader 3Q08TOWAGE Net Revenues US$37.7 million 28.5% of Total Net Revenues Services EBITDA Margin 33.9% Net Revenues 7.9 % lower than 3Q07 – Harbour Towage: Ship Maneuvering, Berthing and Unberthing – Special Operations: Oceanic Towage, Support to Salvage and Offloading Main assets: – Tugboats Highlights: – Largest Tugboat Fleet in South America, with 67 Vessels – 54% Market Share in Brazil – 31 State-of-the-Art Tugboats with Azimuth Propulsion – Regulatory Protection Ensures Exclusivity to Brazilian Flag Vessels – Friendly funding available from FMM (Fundo da Marinha Mercante) 67 POSITIONING* 25 20 19 12 11 9 Sulnorte Tugbrasil Camorim Smit Tranship Docenave (* ) Measured in the number of tug boats in Brazil. Source: Wilson Sons; as of November 2008 10
  • 9. Harbour Towage & Special Operations NEW PORTS IN BRAZIL: HARBOUR TOWAGE OPPORTUNITIES Port Location Navegantes Santa Catarina Itapoá Santa Catarina Imbituba Santa Catarina Açu Rio de Janeiro GROWTH IN SPECIAL OPERATIONSSource: Wilson Sons Limited. As of September 30, 2007 Scale as a Barrier to Entry:  Flexibility to offer towage services nationwide: – Ability to attend unscheduled demand (spot rates) – Demand for tugboats is spread alongside the Brazilian coast, benefiting towage companies with nationwide coverage 11
  • 10. Perspectives for Wilson, Sons Oil FieldsInternational Trade Flow Booming Oil & Gas Industry 12
  • 11. Unique Strategic Fit Between Segments Net Revenues US$24.4 million 3Q08 LOGISTICS 18.5% of Total Net Revenues EBITDA Margin 5.3%  Main Services Net Revenues up 35.6% over 3Q07 – Transport, Handling, Storage, and Distribution  Main Assets – Asset light Business Unit, Providing Integrated Logistics Solutions  Highlights – A Fast Growing Industry: Growing by More Than Six Fold from 2001 to 2006, as seen below: INDUSTRY GROWTH* NET REVENUES (USD million) 45.8% CAGR(1) = 44.3% CAGR(1) = 47.6% (1)CAGR = Compound Annual Growth Rate(* ) Measured in terms of Industry Revenues, in R$ billion. / Source: Center for Logistics Studies at COPPEAD/UFRJ, 2006) 13
  • 12. Unique Strategic Fit Between Segments 3Q08SHIPPING AGENCY Net Revenues US$4.5 million 3.4% of Total Net Revenues EBITDA Margin 18.3% Main Services Net Revenues 17.7% lower than 3Q07 – Agent and Attorney-In-Fact to Shipowners – Documentation Services – Control of Containers – Equipment and Demurrage Control – Services to Vessels while in the Ports (Vessel Calls) – Sales Offices  Main Assets – Asset Light Business Unit – Intelligence center  Highlights – Largest Independent Shipping Agency in Brazil – Over 5,500 vessel calls in 2007 – Affiliated to GAC – The Gulf Agency Company – 1st Agency to Provide a Shared Services Center 14
  • 13. Offshore Segment: Capturing Growth in the Oil Business Net Revenues US$6.3 million 3Q08 2002 2006 OFFSHORE 4.7% of Total Net Revenues EBITDA Margin 48.5% 30% Main Services  Net Revenues up 106.6% over 3Q07 48% – Support to Offshore Oil & Natural Gas 52% Exploration and Production Platforms 70%  Main Assets: # Brazilian Flag Vessels: 48 # Brazilian Flag Vessels: 79 – A Fleet of 5 PSVs Brazilian Flags International FlagsSource: Abeam as of 2006. Highlights  Competitive Advantage From Our Shipyard – Start-up in 2003 – Control of construction costs, maintenance – Friendly funding available from FMM costs, and delivery schedule – Lack of Space Capacity in Brazilian Shipyards GROWTH OPPORTUNITIES PSV CONSTRUCTION PLAN  2 PSVs to be delivered until 2010  4 PSVs to be delivered to third parties until 2011  US$ 100 million in investments 15
  • 14. Financial HighlightsPERSPECTIVES Consolidated 16
  • 15. Trade FlowSignificant Increase in Trade Flow – Volumes and RevenuesBRAZILIAN TRADE FLOW (USD billion) BRAZILIAN TRADE FLOW (million tons) CAGR = 6.1% 581 CAGR = 20.9% 281 527 486 491 229 192 159 2004 2005 2006 2007 2004 2005 2006 2007Source: Secex Source: Secex ECONOMIC OPENNESS (Trade Flow / GDPGROWTH IN CONTAINER HANDLING 2004) Brazil Container Handling 64% 65%220 53% 53% CAGR: 17.4% 48% 50% CAGR: 14.1% 27% 30%180 20% CAGR: 2.4% World Container Handling 18%140 SOUTH INDIA INDONESIA BRAZIL CHILE CHINA MEXICO ARGENTINA VENEZUELA COREA BRAZIL 2000 Brazil GDP100 2001 2002 2003 2004 2005Source: Drewry, CNNT, IBGE Source: OMC, National Statistics, Central Bank (Jun/2006) 17
  • 16. …with Long-Term Growth DriversPOPULATION DENSITY / CABOTAGE PORTS BRAZILIAN CABOTAGE – TEUs (‘000) 791 Belém 640 626 656 Vila do Conde 602 Itaqui 499 Pecém Manaus 363 Fortaleza 142 62 Maceio 1998 1999 2000 2001 2002 2003 2004 2005 2006 Source: CNNT / Datamar Salvador Aratu Vitória CABOTAGE VESSELS – CAPACITY Rio de Janeiro INCREASE Sepetiba Santos Paranaguá São Francisco do Sul Log-In Aliança Itajaí Rio Grande –Acquisition of 2 container - 4 new container ships ships. 1 started its operations in scheduled to be delivered January 2008 in 4 years –5 new container vessels bySource: IBGE, CNNT. Darker areas means higher population density areas 2013, likely to be delivered between 2010 and 2013 Development of Cabotage Boosts PortTerminals, Towage, and Logistics Businesses Source: Merrill Lynch report 18
  • 17. …with Long-Term Growth Drivers PETROBRAS CAPEX (2008E – 2012E): US$ 112.4 billion 2% 2% 4% 6% 58% 26% Oil Exploration Oil Supply Gas & Energy Petrochemical Distribution Source: Petrobras Strategic Plan Corporate Petrobras Capex Program Promotes Growth in Wilson, Sons’ Port Terminals and Offshore Business Segments 19
  • 18. Unique Integration and Synergies in Port and Maritime Logistics SYNERGIES ACROSS OUR BUSINESS SEGMENTS Inland Operations Port Operations Offshore Operations Support to Support to Cargo Owners Support to Vessel Operations Oil Platform Operators Port Port Shipping Offshore Logistics Towage Terminals Terminals Agency (PSVs)¹ (Container) (Offshore) Shipyard (1) Platform Supply Vessels Back Office Areas (HR, IT, Administrative)(Revenues in US$ million) Services provided to our 100 major clients (In %) 100 66 28 Fast Growth Opportunities At least 2 At least 3 At least 4 Segments Segments Segments As of September 30, 2008 Wilson, Sons Combines World-Class Integration with Synergies Across Its Businesses, Leveraging Growth Opportunities while Offering a Broad Portfolio of Services to Clients 20
  • 19. Perspectives INDUSTRY WILSON, SONSContinuous Growth in Brazil’s TRADE FLOW DOMESTIC ECONOMY Wilson, Sons  New cargo exported through containers in our terminals  A Sound Macroeconomic Outlook  Delivery of the most powerful tugboats  Growth in Containerization currently in Brazil (Both our technology and fleet  Infra-Structure Improvements size are requirements for servicing a higher quantity of vessels, which are increasingly larger in size as well.)  Capacity to build more small and medium-size vessels in our shipyard Wilson, Sons  Logistics focus on adding integrated, multimodal solutionsOIL & GAS  Expertise through three complimentary services to the O&G industry: Brasco, PSVs, and Shipyard A positive track record with O&G clients in other business units  Capacity Expansion 21
  • 20. Business Strategy • Well- • Focus on Positioned to High Profit Expand Services Capacity Wilson, Sons Main Pillars • New Applications • Analysis of for opportunities Traditional Services 22
  • 21. Financial HighlightsFINANCIAL HIGHLIGHTS Consolidated 23
  • 22. Consolidated Financial Highlights NET REVENUES (USD million) SEGMENTED REVENUES (USD million) 32.7% 21.4% 8.6% 45.8% CAGR = 19.0% 9M07 9M08EBITDA (USD million) & EBITDA MARGIN SEGMENTED EBITDA (USD million) 25.1% 9M07 CAGR = 36.4% 9M08 23.1% 21.7% 24
  • 23. Consistent Investment & Low Leverage Ratios CAPEX (USD million) LEVERAGE (USD million) GROWTH IN TOTAL CAPEX CURRENCY BREAKDOWN R$ CAGR = 65.5% 13.9% Denominated 4.9 US$ Denominated 153.3 CAPEX BREAKDOWN (USD million) LEVERAGE INDICATORS (USD million) Long Term 174.7 35.6% 35.6% 161.6 Short Term 158.2 Of f shore 0.7% 0.7% Port Terminals28.7% 28.7% Shipping Agency 9.5% 9.5% Logistics 16.5 1.5% 1.5% Towage 24.0% 24.0% September June Cash 3Q08 Net Cash Non-Segmented Activities 30, 2008 30, 2008 3Q08 25
  • 24. Investor Relations Felipe Gutterres Sandra Calcado CFO of the Brazilian subsidiary, Investor Relations ManagerLegal Representative & Investor Relations E-mail: sandra.calcado@wilsonsons.com.br E-mail: ri@wilsonsons.com.br Telephone: + 55 (21) 2126-4263 Telephone: + 55 (21) 2126-4222 IR Website: www.wilsonsons.com/ir Contact IR: BOVESPA: WSON11 Bloomberg: WSON11 BZ ri@wilsonsons.com.br Reuters: WSON11.SA
  • 25. Institutional Presentation January 2009 27