4Q08 Earnings Conference Call and Webcastri.wilsonsons.com.br/wp.../02/Wilson_Presentation... ·...

4Q08 Earnings

Conference Call and Webcast

March 2009

Legal Advice

This presentation may include forward-looking statements about

future events or results, in accordance with Brazilian and internationalregulations governing stock markets. Such statements are based onassumptions and analysis made by Wilson, Sons (“the Company”), basedon experience, economic environment, market conditions, and expectedfuture events, many of which are beyond the Company’s control.

Important factors, which can lead to significant differences betweenreal results and these forward-looking statements, include the Company'sbusiness strategy, national and international economic conditions,technology, financial strategies, financial market conditions, uncertaintyregarding the results of the Company’s future operations, its plans,objectives, expectations, intentions, and other factors described in thesection entitled "Risk Factors“, in accordance with the Company’sPreliminary Prospectus, filed with the Brazilian Securities Commission. Asa result of these factors, real results of the Company may differsubstantially from those expressed or implied in forward-lookingstatements.

2

404.0

498.3

72.3 96.4

2007 2008

17.9% 19.4%

117.0 117.5

19.031.2

4Q07 4Q08

Net Revenues Operating Profit

16.2%Operating

Margin 26.6%

57.846.9

2007 2008

14.3% 9.4%

17.4

5.0

4Q07 4Q08

Net Income

Net

Margin14.8% 4.3%

91.4

122.7

2007 2008

22.6% 24.6%

25.3

39.9

4Q07 4Q08

EBITDA

EBITDA

Margin21.6% 34.0%

Solid growth in Wilson Sons’ 4Q08 financials YoY,

despite the faltering global economy;

Net Revenues +23.3% in 2008;

Operating Profit +64.4% in 4Q08,+33.4% in 2008;

EBITDA +57.7% in 4Q08, +34.3% in 2008,

reaching USD 122.7 million;

Negative impact on Net Income, due to IFRS

translation of FX variation.

3

Consolidated Results – 4Q08 & 2008

(USD mn)

(USD mn)

57.7% 34.3%

23.3%

64.4%33.4%

FX: BRL vs USD

(YTD 2008)

1.731.64 1.71

2.26

1Q08 2Q08 3Q08 4Q08

57.846.9

2007 2008

14.3% 9.4%

17.4

5.0

4Q07 4Q08

Net Income

Net

Margin14.8% 4.3%

(U

SD

mn

)

17,4

5,0

4T07 4T08

Lucro Líquido

Margem

Líquida14,8% 4,3%

57,846,9

2007 2008

14,3% 9,4%

-71.1%

-18.9%

Highlights

Port Terminals

Tecon Rio Grande: Beginning of operations of the 3rd berth in October/2008. Capacity increased by 60%; Tecon Salvador: Acquisition of the remaining 10% stake from IFC. Wilson Sons Limited becomes the sole owner of Tecon Salvador S/A’s total share capital in December/2008; Brasco: Acquisition of Brasco's operational base in January/2009.

Towage

Delivery of 1 tugboat in December/2008; Support to LNG activities.

Offshore

2 PSVs delivered in 2008: both of them allocated to spot services until 2010; Joint Venture with Magallanes Navegação Brasileira S.A. (Ultratug Group), to operate vessels to support oil and gas exploration and production activities in Brazil, still under negotiations; Participation in Petrobras’ BID of 24 OSVs (Offshore Support Vessels) in November/2008.

Shipyard – Expansion Plan

Guarujá Expansion (~USD 41 million investment) – waiting for environmental license.

Logistics Beginning of operations of an important client; Broader portfolio/scope of services rendered to existing clients.

4

253.5 235.8

622.4 626.4

23.52.9

2007 2008

66.5 59.4

161.5 182.9

9.4

4Q07 4Q08

12.0

15.0

8.0%8.8%

2007 2008

3.45.0

8.0%

12.3%

4Q07 4Q08 5

Chg. =2.1%

Chg. =-3.3%

Chg. =16.1%

TEUs (‘000)

NET REVENUES (USD mn)

Brasco Revenues (USD mn) & Participation (%)

Chg. =48.7%

Chg. =-3.8%

Chg. =14.4%

Chg. = 28.0%

Chg. =24.8%

OPERATIONAL INDICATORS

EBITDA (USD mn) & EBITDA Margin (%)

Port Terminals

237.4 242.3

899.5 865.1

41.940.5

4Q07 4Q08

149.0170.5

2007 2008

14.6

16.9

34.8%

41.9%

4Q07 4Q08

49.6

63.4

33.3%

37.2%

2007 2008

253.5 235.8

622.4 626.4

23.52.9

2007 2008

66.5 59.4

161.5 182.9

9.4

4Q07 4Q08

Tecon Salvador Tecon Rio Grande Others*

* Include other ports

58,245 55,655

2007 2008

15,43813,252

4Q07 4Q08

6

Special Operations Participation (%)

Chg. =-14.2%

Chg. =-21.4%

Chg. =-11.9%

Chg. =-4.4%

Chg. =0.2%

Chg. =1.5%




# Manoeuvres

Towage

7.0%

8.5%

Harbour Manoeuvres Special Operations

5.6%

8.5%

3Q08

3Q07

9M08

9M0792.4%

7.6%

90.9%

9.1%

4Q08

4Q07

2008

2007

87.3%

12.7%

88.8%

11.2%

Manobras Portuárias Operações Especiais

16.314.3

39.4%

44.2%

4Q07 4Q08

53.7 54.5

36.6% 37.0%

2007 2008

146.8 147.1

2007 2008

41.232.4

4Q07 4Q08

7

Chg. =-6.7%

Chg. =51.1%

Chg. =2.8%Chg. =-8.5%

Chg. =29.3%

Chg. =4.2% Chg. =4.2% Chg. =25.4%




# of Trips

# of Operations

Logistics

68,721 70,669

2007 2008

18,98817,376

4Q07 4Q08

24

25

2007 2008

24

25

4Q07 4Q08

21.720.3

4Q07 4Q08

69.1

89.3

2007 2008

1.7

2.5

7.7%

12.5%

4Q07 4Q08

5.3

6.6

7.6% 7.4%

2007 2008

Chg. =5.2%

8

Chg. =-38.8%

Chg. =-6.6%

Chg. =-38.0%

Chg. =-38.2%

Chg. =-13.8%




Vessel Calls

Bills of Lading Issued

Containers Controlled

Chg. =-26.7%

Chg. =-24.1%

Chg. =-21.9%

Shipping Agency

5,538 5,824

2007 2008

1,496 1,397

4Q07 4Q08

104,859

79,627

2007 2008

24,784

15,319

4Q07 4Q08

207,515162,018

2007 2008

51,782

32,087

4Q07 4Q08

20.417.6

2007 2008

5.1

3.2

4Q07 4Q08

4.5

3.3

22.1%18.8%

2007 2008

-1.5

0.7

-29.0%

21.1%

4Q07 4Q08

9

Chg. =101.3%

Chg. =327.3%




# PSVs

Days in Operation

Chg. =66.7% Chg. =66.7%

Chg. =62.8% Chg. =41.3%

Chg. =152.4%

Chg. =189.1%

Offshore

266

433

4Q07 4Q08

962

1,359

2007 2008

10.7

21.6

2007 2008

3.1

7.7

4Q07 4Q08

1.5

6.6

50.5%

85.4%

4Q07 4Q08

4.5

12.9

41.6%

59.8%

2007 2008

57,8

46,9

2007 2008

14,3% 9,4%

17,4

5,0

4Q07 4Q08

Lucro Líquido

Margem

Líquida4,3%14,8%

10

2008 X 2007 (USD mn)4Q08 X 4Q07 (USD mn)

Non-Segmented ActivitiesEBITDA – quarterly and year-to-date

-7.3

4.7

2.2

-0.8 -1.2

4Q

07 E

BIT

DA

Ship

yard

Activitie

s

FX Im

pact

Oth

ers

4Q

08 E

BIT

DA

-26.1

7.6

-0.5 2.2

-1.2

-18.0

2007 E

BIT

DA

Ship

yard

Activitie

s

FX Im

pact

Absence o

f CPM

F t

ax c

harg

es

Oth

ers

2008 E

BIT

DA

21.9

30.3

4Q07 Adjusted EBITDA

4Q08 Adjusted EBITDA

25.3

39.9

4Q07 EBITDA 4Q08 EBITDA

89.8

110.9

2007 Adjusted EBITDA

2008 Adjusted EBITDA

91.4

122.7

2007 EBITDA 2008 EBITDA

11

4Q08 x 4Q07 (USD mn): Double-digit growth

EBITDA4Q08 vs 4Q07 & 2008 vs 2007

Chg. =57.7%

Chg. =34.3%

2008 x 2007 (USD mn): Consistent EBITDA growth

Chg. =38.3%

Chg. =23.6%

57.8

46.9

2007 2008

17.4

5.0

4Q07 4Q08

1.5

1.8

2.1

2.4

Jan/07 Apr/07 Jul/07 Oct/07 Jan/08 Apr/08 Jul/08 Oct/08

Actual 4Q08 Chg. = -71.1%

12

FX variation in late 2008 had a significantly negative impact on 4Q08 and 2008 net income

Net Incomequarterly and year-to-date

FX: BRL vs USD

(2008)

BRL

Actual 2008 Chg. = -18.9%

Net Income 4Q08 (USD mn) Net Income 2008 (USD mn)

40.2%

26.5%

0.9%1.6%

30.0%0.8%

Offshore

Terminais Portuários

Agenciamento Marítimo

Logística

Rebocagem

Atividades Não-segmentadas

25.6%

32.7%

0.6%

9.7%

29.9%1.5%

Offshore

Terminais Portuários

Agenciamento Marítimo

Logística

Rebocagem

Atividades Não-segmentadas

99.2 93.5

2007 2008

46.933.9

4Q07 4Q08

CAPEX LEVERAGE

13

CAPEX EVOLUTION (USD mn) CURRENCY BREAKDOWN

LEVERAGE INDICATORSCAPEX BREAKDOWN

Chg. =-27.7%

26,8%

27,1%

2,7%

2,5%

39,2%1,7%

Offshore Port Terminals Shipping Agency

Logistics Towage Non-Segmented Activities

26,8%

27,1%

2,7%

2,5%

39,2%1,7%



26,8%

27,1%

2,7%

2,5%

39,2%1,7%



Chg. =-5.7%

Consistent Investment & Low Leverage Ratios

12/31/2008 09/30/2008 06/30/2008Short Term 13.3 15.6

Long Term 144.9 146.0Total Debt 158.2 161.6

( - ) Cash and Equivalents -174.7 -201.0( = ) Net Debt/Cash -16.5 -39.4

15.5

169.7185.2

-180.05.2

(USD mn) 12/31/2008 09/30/2008 06/30/2008

R$ Denominated 4.9 6.0

USD Denominated 153.3 155.6Total Debt 158.2 161.6

4.2

181.0185.2

(USD mn)

20082007

IR website:

www.wilsonsons.com/ir

IR e-mail address:

[email protected]

Felipe Gutterres

CFO of the Brazilian subsidiary. Legal Representative & Investor Relations

E-mail: [email protected]: + 55 (21) 2126-4222

Sandra Calcado

Investor Relations Manager

E-mail: [email protected]: + 55 (21) 2126-4263

BOVESPA: WSON11Bloomberg: WSON11 BZ

Reuters: WSON11.SA

Investor Relations

4Q08 Earnings

Conference Call and Webcast

March 2009

4Q08 Earnings Conference Call and Webcastri.wilsonsons.com.br/wp.../02/Wilson_Presentation... ·...

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