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JUNE 6, 2014
Wilson Sons
Meet the Management Day (2014)
2
Disclaimer
This presentation contains statements that may constitute “forward-looking statements”, based on
current opin...
3
Agenda
• Security Video
• 1Q14 Results
• Macro Trends: Port and Oil & Gas Exploration and Production Infrastruture
• How...
4
1Q14 Results
5
Highlights so Far
12.3
14.0
1.1
0.1
Highlights
Vigorous growth in Container Terminal volumes;
Strong volumes and ships w...
6
April 2014 Operational Data
Volumes are still strong...
4,250
3,950
4,314 4,363
4,623
4,170
4,890 4,618
Jan Feb Mar Apr
...
7
Macro Trends:
Port and Oil & Gas Exploration and
Production Infrastruture
8
Economies of Scale promote Containership (R)Evolution
The increase in vessels size is an international reality, as a fun...
9
Campos and Santos Basins
Strong Infrastructure demand in the short term
Barracuda
(Petrobras)
Lula
(Petrobras)
Jubarte
(...
10
North and Northeast regions - Results of 11th Bidding Round (ANP)
Prospects and challenges in the Equatorial Margin in ...
11
New frontiers – Navigation distances in the Equatorial Margin
125 km
- There is a significant distance between the conc...
12
Growing demand for supply vessels
13
44
95
43 48 60
74
120
173
211 224
300
47
110
125
110
88 91
130
254
239 245
386
13
...
13
How we are capturing the demand
14
CAPEX
End of a significant investment cycle
Investment Cycle: ~US$ 1.0 bi
39.9 23.9
33.3
39.2
36.3
55.5 49.0
7.0
2007 2...
15
Infrastructure - before civil works
Infrastructure - after civil works (illustrative)
Oil & Gas Support Base
Brasco-Caj...
16
Towage
Well positioned to meet the demand
Average Bollard Pull (tons) 56 51
% of Azimuthal tugboats 81% 53%
Wilson Sons...
17
Shipyards: Construction of Offshore Support Vessels
Remotely Operated Vehicle Support Vessel (“ROVSV”) for Fugro
18
10
12
14
18 19 20
24
2010 2011 2012 2013 2014 2015 2016
Offshore Support Vessels
Fleet Evolution
18
USD
18,257
USD
20,8...
Thank you. Questions?
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Wilson Sons Meet the Management Day (2014)

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Wilson Sons Meet the Management Day (2014)

  1. 1. JUNE 6, 2014 Wilson Sons Meet the Management Day (2014)
  2. 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.
  3. 3. 3 Agenda • Security Video • 1Q14 Results • Macro Trends: Port and Oil & Gas Exploration and Production Infrastruture • How we are capturing the demand • Questions & Answers
  4. 4. 4 1Q14 Results
  5. 5. 5 Highlights so Far 12.3 14.0 1.1 0.1 Highlights Vigorous growth in Container Terminal volumes; Strong volumes and ships with greater deadweight in Towage; Solid Performance in O&G Support Terminals; and CAPEX 1Q14 by business (USD million) Consolidated Figures (USD million) Total 27.5 Appreciation of the BRL positively affected Net Income 1Q14 1Q13 Chg. (%) Net Revenues 147.7 148.3 -0.4 EBITDA 40.2 36.0 11.7 EBITDA Margin 27.2% 24.3% 2.9 p.p. EBIT 24.4 22.2 10.0 Net Income 24.3 19.5 24.3 Net Margin 16.4% 13.2% 3.3 p.p. 75.8 52.3 19.6 51% 87% 100% -200% -150% -100% -50% 0% 50% 100% 150% 0,0 10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 Port Terminals & Logistics Towage & Ship Agency Shipyards
  6. 6. 6 April 2014 Operational Data Volumes are still strong... 4,250 3,950 4,314 4,363 4,623 4,170 4,890 4,618 Jan Feb Mar Apr 2013 2014 342 426 367 423437 556 498 554 Jan Feb Mar Apr 2013 2014 58.9 65.0 71.8 73.7 75.9 75.6 92.0 89.1 Jan Feb Mar Apr 2013 2014 Container Terminals (RG + SSA) (TEU „000 Handled) Towage (Harbour Manoeuvres) Offshore Vessels (Days of Operations – Owned Vessels) Growth of 21% Growth of 31%Growth of 6% Main Loaded Cargoes Tecon RG Tecon SSA Rice 20% Frozen Chicken 13% Resin 15% Tobacco 7% Leather 4% Others 41% Cellulose 28% Chemicals 22% Iron and other Metals 18% Food 8% Rubber 7% Others 17%
  7. 7. 7 Macro Trends: Port and Oil & Gas Exploration and Production Infrastruture
  8. 8. 8 Economies of Scale promote Containership (R)Evolution The increase in vessels size is an international reality, as a function of efficiency gains Panamax (1980) 250 x 32 x 12.5 Post Panamax (1988) 285 x 40 x 13 New Panamax (2004) 366 x 49 x 15.2 Triple E (2013) 400 x 59 x 15.5 Length x breadth x draft (m) 290 x 32 x 12.5 Panamax Max (1985) 300 x 43 x 14.5 Post Panamax Plus (2000) Post New Panamax (2006) 397 x 56 x 15.5 Type Capacity 3,000 – 3,400 TEU 4,000 – 5,000 TEU 12,500 TEU 18,000 TEU 3,400 – 4,500 TEU 6,000 – 8,000 TEU 15,000 TEU
  9. 9. 9 Campos and Santos Basins Strong Infrastructure demand in the short term Barracuda (Petrobras) Lula (Petrobras) Jubarte (Petrobras) Peregrino (Statoil) Macaé Santos / Guarujá Itajaí Libra Cessão Onerosa Exploration Development Highest fields (production) Sites with existing offshore bases Santos Basin Campos Basin 264 245 163 151 135 117 94 79 Marlim Sul Roncador Marlim Lula Jubarte Marlim… Barracuda Peregrino Largest producing fields Petrobras Statoil Production (oil production mbbl/d) Rio de Janeiro / Niterói
  10. 10. 10 North and Northeast regions - Results of 11th Bidding Round (ANP) Prospects and challenges in the Equatorial Margin in the medium and long-term Barreirinhas* Ceará* Potiguar Pernambuco Paraíba Pará Maranhão Espírito Santo Foz do Amazonas* Source: ANP 66% 13% 18% 43% 50% 50% 88% 68% 69% 70% 34% 88% 82% 57% 50% 50% 13% 32% 31% 30% T O T A L B R A S I L F O Z D O A MA Z O N A S B A R R E I R I N H A S P E R N A MB U C O P A R A Í B A P A R Á MA R A N H Ã O C E A R Á P O T I G U A R S A N T O S C A MP O S E S P Í R I T O S A N T O Petrobras Demais Market Share (# of blocks) OthersPetrobras
  11. 11. 11 New frontiers – Navigation distances in the Equatorial Margin 125 km - There is a significant distance between the concession blocks and the land in Foz do Amazonas, Pará Maranhão and Barreirinhas basins. - Even with the pre-salt basins, distances are smaller than Foz do Amazonas and Pará Maranhão basins. Santos Vitória Santos Distance from basin centre to closest location Santos Campos Espírito SantoVitória 67 NM 135 NM 138 NM Macapá São Luís Pecém Distance from basin centre to closest location Areia Branca Pará Maranhão Barreirinhas Foz do Amazonas Ceará Potiguar 202 NM 127 NM 40 NM 38 NM 246 NM Belém 389 NM 329 NM Rio de Janeiro
  12. 12. 12 Growing demand for supply vessels 13 44 95 43 48 60 74 120 173 211 224 300 47 110 125 110 88 91 130 254 239 245 386 13 91 205 168 158 148 165 250 427 450 469 686 1975 1980 1985 1990 1995 2002 2005 2009 2011 2012 2013 2020 OSV FLEET FORECAST Brazilians Foreigners Total Petrobras’ new demands OSVs fleet forecast for national and foreign flags in service in Brazil Source: ABEAM (Sep/2013) • 146 supply vessels from 2008 to 2014; • PSV, ORSV and AHTS – 8 + 8 year contracts; • 87 vessels contracted by 2013 • 61 under construction; • 26 operating; • Apr/2014 (6th round): 23 vessels contracted • Oct/2014 ( 7th round): + 36 vessels. 5.58% CAGR 2013-2020 Forecast
  13. 13. 13 How we are capturing the demand
  14. 14. 14 CAPEX End of a significant investment cycle Investment Cycle: ~US$ 1.0 bi 39.9 23.9 33.3 39.2 36.3 55.5 49.0 7.0 2007 2008 2009 2010 2011 2012 2013 2014E 136.9 128.7 226.6 127.5 116.3 69.6 59.3 93.5 149.6 166.7 262.9 184.2 185.9 120.0 113.0
  15. 15. 15 Infrastructure - before civil works Infrastructure - after civil works (illustrative) Oil & Gas Support Base Brasco-Caju Expansion 15
  16. 16. 16 Towage Well positioned to meet the demand Average Bollard Pull (tons) 56 51 % of Azimuthal tugboats 81% 53% Wilson Sons Competitors # of Ports served 26 14* * Considers the best positioned competitor Fleet Profile Source: Wilson Sons internal data (April/2014) New Port Facilities bring opportunities Tugboat Operations Centre Operational efficiency gains New Tugboats Fleet renewal and increased capacity Aug/13 Aug/13 Nov/13 Feb/14 Jul/14 Mai/15 May/15 Jun/15 Sep/15 Dec/15 Beginning of Construction WS 140 WS 141 WS 142 WS 148 WS 149 WS 143 WS 144 WS 145 WS 146 WS 147 Tugboats Jun/14 Jul/14 Aug/14 Jan/15 May/15 Dec/15 Dec/15 Feb/16 May/16 Aug/16 Expected Delivery Vessel Traffic Monitoring & Information System Increased safety in operations Efficiency gains: reduced movement of tugboats Up to Dec/14, 48 tugboats will be tracked by the system •Terminal Ponta da Madeira – Pier 4 (MA) • Refinaria Abreu e Lima (PE) • Porto do Açu (RJ) • Porto do Sudeste (RJ) • Embraport (SP) • Brasil Terminais Portuários (SP) Jun/13WS 139 Jun/14
  17. 17. 17 Shipyards: Construction of Offshore Support Vessels Remotely Operated Vehicle Support Vessel (“ROVSV”) for Fugro
  18. 18. 18 10 12 14 18 19 20 24 2010 2011 2012 2013 2014 2015 2016 Offshore Support Vessels Fleet Evolution 18 USD 18,257 USD 20,865 USD 19,969 USD 20,273 New Vessels: between USD 28.000 and USD 35.000 (estimated) Average Daily Rate
  19. 19. Thank you. Questions?

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