2Q09 and 1H09 Earnings Conference Call and Webcast August 2009
Legal Advice 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
Consolidated Results – 2Q09 & 1H09 (USD million) Net Revenues es Operating Profit Highlights: -11.9% -9.3% Positive earnings growth from solid performance in the offshore and logistics businesses; recovery in port terminals and positive results in towage; 248.4 Volumes rebounded , although still negatively impacted 127.2 219.0 115.4 by the current macroeconomic environment; 25.0% 13.6% 2Q09 operating profit and EBITDA posted double-digit 28.7 52.4 25.2 41.9 growth for the third consecutive quarter; 2Q08 2Q09 1H08 1H09 Operating Net income 29% higher in Q2 2009 and +27% YTD 2009. 19.8% 24.8% 16.9% 23.9% Margin EBITDA Net Income 27.9% 26.9% 29.1% 16.5% 67.3 33.1 49.2 36.1 30.9 52.6 38.8 25.6 2Q08 2Q09 2Q09 2Q08 1H08 1H09 1H08 1H09 Net EBITDA 24.3% 31.2% 21.2% 30.7% 20.1% 28.7% 15.6% 22.5% Margin Margin 3
Highlights Port Terminals At the Rio Grande container terminal, record-high monthly volume performance in June 2009; repositioning of empty containers in the quarter; Volume recovery also at the Salvador container terminal; expansion project under negotiations; Brasco results: new contracts won in 2Q09. Towage Delivery of tugboats Andromeda and Vega; Higher proportion of special operations into towage revenues; services delivered to ships with higher deadweight. Offshore Spot operations in line in the quarter; start of operations by PSV Petrel (joint venture), chartered by Wilson, Sons. Logistics Focus on higher value- added services; better cargo turnover at the Company’s dry port (EADI). Shipyard Fleet expansion and third-party construction activities continued in 2Q09, as expected. Subsequent Events Shipyard expansion in Guarujá: effort under way aimed at obtaining the environmental license; Joint venture with Magallanes: the Company continued to seek the necessary approvals and it expects to reach the final stages in the structuring of the joint venture by late 2009. 4
Port Terminals KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 34.4% -5.7% 37.1% 32.4% -3.0% 33.5% -11.3% -12.4% 82.7 28.4 16.6 78.0 44.8 25.2 43.4 14.6 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 OPERATIONAL INDICATORS TEUs BRASCO (‘000) (USD mn) 416.4 238.0 399.1 198.2 15.2% 15.5% 4.3% 20.1% 306.0 174.2 284.3 138.3 7.2% 7.2% 11.8 6.8 6.0 29.6 57.2 53.4 30.9 3.2 34.2 57.5 57.0 29.0 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 .3 * Deep Sea Net Revenues As % in Port Terminals Cabotage Others * Includes shifting, transhipment and inland navigation 5
Towage KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 45.0% 46.7% -12.3% -11.1% 35.6% 39.0% 10.9% 6.5% 30.4 77.0 40.7 16.9 27.4 15.9 67.5 36.2 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 OPERATIONAL INDICATORS # Manoeuvres Special Operations (% of Total Revenues) -13.2% 1.7% -10.2% -10.2% 88.3 90.1 89.2 91.5 28,568 13,928 12,295 12,509 24,804 12,509 11.7 9.9 10.8 8.5 1Q09 2Q09 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 Harbour Manoeuvres Special Operations 6
Logistics KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 11.6% -18.7% 9.2% -24.6% 6.2% 3.7% 51.4% 4.2 44.6 22.5 36.3 89.4% 1.6 16.9 2.8 0.8 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 OPERATIONAL INDICATORS # Trips # of Operations -20.0% -15.9% -20.0% -22.1% 33,668 16,248 25 25 28,328 20 12,653 20 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 7
Shipping Agency KEY FINANCIALS (USD mn) Revenue Mix (%) NET REVENUES EBITDA & EBITDA Margin (%) by Service 18.3% -33.0% 22% 15.2% -28.1% 29% 23.4% 20.0% 25% -44.2% 30% -38.5% 1.8 9.9 5.1 1.2 6.7 3.6 53% 1.0 0.7 41% 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 Vessel Calls Cntr Controlled BLs Issues OPERATIONAL INDICATORS # Vessel Calls # BLs Issued # of Containers Controlled 2.7% 8.6% -42.0% -39.0% -43.6% -44.5% 23,340 45,752 92,157 46,033 1,659 1,528 3,093 3,011 14,231 25,786 51,188 26,693 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 8
Offshore KEY FINANCIALS (USD mn) NET REVENUES EBITDA & EBITDA Margin (%) 60.0% 145.1% 59.5% 42.9% 137.9% 47.7% 18.5 11.1 10.4 243.0% 6.2 196.7% 7.6 4.4 3.2 2.1 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 OPERATIONAL INDICATORS # PSVs # Days in Operation 50.0% 63.0% 50.0% 66.7% 6 935 6 501 4 4 574 301 2Q08 2Q09 1H08 1H09 2Q08 2Q09 1H08 1H09 9
Non-Segmented Activities EBITDA – quarterly and year-to-date 2Q09 vs. 2Q08 (US$ mn) (3.9) (5.6) 0.9 1.5 (5.1) 4.5 EBITDA Net Raw Personnel Other EBITDA 2Q08 Revenues Materials Expenses Operating 2Q09 Expenses 1H09 vs. 1H08 (4.7) (0.2) 3.0 (11.1) 1.9 16.5 (14.7) EBITDA Net Raw Personnel Other Profit on EBITDA 1H08 Revenues Materials Expenses Operating Disposal 1H09 Expenses of PPE 10
EBITDA Quarterly and year-to-date 2Q09 vs. 2Q08: Double-digit growth (USD mn) 16.5% 36.1 30.9 2Q08 EBITDA 2Q09 EBITDA 1H09 vs. 1H08: Consistent EBITDA growth (USD mn) 27.9% 67.3 52.6 1H08 EBITDA 1H09 EBITDA 11
Net Income Quarterly and year-to-date 2Q09 vs. 2Q08 (USD mn) 1.0 3.0 (1.7) 4.5 (0.1) (11.8) 5.4 7.1 33.1 29.1% 25.6 2Q08 Net Revenues Raw Materials Personnel Other Depreciation & Profit on Net Financial Income Tax 2Q09 Net Income Expenses Operating Amortization Disposal of PPE Results Expenses Net Income Expenses Expenses (USD mn) 1H09 vs. 1H08 13.3 (4.2) (2.3) 2.2 (0.1) 9.3 (29.5) 21.6 26.9% 49.2 38.8 1H08 Net Revenues Raw Materials Personnel Other Depreciation & Profit on Net Financial Income Tax 1H09 Net Income Expenses Operating Amortization Disposal of PPE Results Expenses Net Income Expenses Expenses 12
Capital Expenditure & Level of Indebtedness CAPEX EVOLUTION BREAKDOWN (USD mn) 1H08 1H09 113.4% 70.7% 21% 25% 35% 40% 77.8 12% 1% 33.3 19.5 36.4 26% 1% 8% 2% 29% 0% 2Q08 2Q09 1H08 1H09 Port Terminals Offshore Shipping Agency Towage Logistics Non-Segmented Activities CASH POSITION & DEBT PROFILE DEBT: CURRENCY BREAKDOWN LEVERAGE INDICATORS As of June, 30 th 2009 (USD mn) As of June, 30 th 2009 3% (151.4) 188.0 36.6 97% Total Debt Cash & Equivalents Net Debt ted USD Denominated USD million 06/30/2009 03/31/2009 12/31/2008 R$ Denominated Short Term 17.2 16.4 15.5 USD million 06/30/2009 03/31/2009 12/31/2008 Long Term 170.8 162.8 169.7 R$ Denominated 6.0 4.0 4.2 Total Debt 188.0 179.2 185.2 USD Denominated 182.0 175.3 181.0 ( - ) Cash and Equivalents -151.4 -163.4 -180.0 Total Debt 188.0 179.2 185.2 ( = ) Net Debt (Cash) 36.6 15.8 5.2 13
Investor Relations Felipe Gutterres Sandra Calcado CFO of the Brazilian subsidiary, Legal Representative & Investor Relations Manager Investor Relations E-mail: sandra.calcado@wilsonsons.com.br Telephone: + 55 (21) 2126-4222 Telephone: + 55 (21) 2126-4263 Alexandre Beltrão André Ferreira Investor Relations Coordinator Investor Relations Analyst E-mail: alexandre.beltrao@wilsonsons.com.br E-mail: andre.ferreira@wilsonsons.com.br Telephone: + 55 (21) 2126-4107 Telephone: + 55 (21) 2126-4105 IR website: IR e-mail address: www.wilsonsons.com/ir ri@wilsonsons.com.br
2Q09 and 1H09 Earnings Conference Call and Webcast August 2009
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