2Q09 and 1H09 Earnings Conference Call and Webcast August 2009 - - PowerPoint PPT Presentation

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2Q09 and 1H09 Earnings Conference Call and Webcast August 2009 - - PowerPoint PPT Presentation

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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.

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SLIDE 1

2Q09 and 1H09 Earnings Conference Call and Webcast

August 2009

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SLIDE 2

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

  • perations, 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

  • therwise expressly indicated. An independent auditors’ review report is an integral part of

the Company’s condensed consolidated financial statements.

2

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SLIDE 3

25.6 33.1 2Q08 2Q09

29.1%

20.1% 28.7% 38.8 49.2 1H08 1H09

26.9%

15.6% 22.5% Net Margin 30.9 36.1 2Q09 2Q08

16.5%

24.3% 31.2% 52.6 67.3 1H08 1H09

27.9%

21.2% 30.7% EBITDA Margin 248.4 219.0 41.9 52.4 1H08 1H09

  • 11.9%

25.0%

16.9% 23.9% 127.2 115.4 25.2 28.7 2Q08 2Q09

  • 9.3%

13.6%

19.8% 24.8% Operating Margin

3

Consolidated Results – 2Q09 & 1H09

(USD million)

EBITDA

es Operating Profit Net Revenues

Net Income

Highlights:

  • Positive earnings growth from solid performance in the
  • ffshore and logistics businesses; recovery in port

terminals and positive results in towage;

  • Volumes rebounded, although still negatively impacted

by the current macroeconomic environment;

  • 2Q09 operating profit and EBITDA posted double-digit

growth for the third consecutive quarter;

  • Net income 29% higher in Q2 2009 and +27% YTD 2009.
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SLIDE 4

 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.

Highlights

4

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SLIDE 5

Deep Sea .3 Cabotage Others

198.2 238.0 29.0 34.2 30.9 29.6 138.3 174.2

2Q08 2Q09

20.1% 399.1 416.4 57.5 57.0 57.2 53.4 284.3 306.0

1H08 1H09

4.3%

3.2 6.8

7.2% 15.5%

2Q08 2Q09 6.0 11.8

7.2% 15.2%

1H08 1H09

5

Port Terminals

NET REVENUES EBITDA & EBITDA Margin (%) BRASCO TEUs

* Includes shifting, transhipment and inland navigation

*

KEY FINANCIALS OPERATIONAL INDICATORS

(USD mn)

44.8 43.4 2Q08 2Q09

  • 3.0%

82.7 78.0 1H08 1H09

  • 5.7%

Net Revenues As % in Port Terminals

(‘000) (USD mn)

16.6 14.6

37.1% 33.5% 2Q08 2Q09

  • 12.4%

28.4 25.2

34.4% 32.4% 1H08 1H09

  • 11.3%
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SLIDE 6

9.9 10.8 90.1 89.2 2Q08 2Q09 8.5 11.7 91.5 88.3 1H08 1H09

6

Towage

Special Operations # Manoeuvres

OPERATIONAL INDICATORS

Harbour Manoeuvres Special Operations

NET REVENUES EBITDA & EBITDA Margin (%)

KEY FINANCIALS

(USD mn)

40.7 36.2 2Q08 2Q09

  • 11.1%

77.0 67.5 1H08 1H09

  • 12.3%

(% of Total Revenues)

15.9 16.9

39.0% 46.7%

2Q08 2Q09

6.5%

27.4 30.4

35.6% 45.0%

1H08 1H09

10.9%

1H08 1H09

  • 13.2%

24,804 28,568 2Q08 2Q09

  • 10.2%

13,928 12,509

  • 10.2%

1Q09 2Q09 12,509

1.7%

12,295

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SLIDE 7

7

# of Operations # Trips

OPERATIONAL INDICATORS

Logistics

NET REVENUES EBITDA & EBITDA Margin (%)

KEY FINANCIALS

(USD mn)

22.5 16.9 2Q08 2Q09

  • 24.6%

44.6 36.3 1H08 1H09

  • 18.7%

1H08 1H09

  • 15.9%

33,668 28,328 2Q08 2Q09

  • 22.1%

16,248 12,653 25 20 2Q08 2Q09

  • 20.0%

25 20 1H08 1H09

  • 20.0%

0.8 1.6

3.7% 9.2%

2Q08 2Q09

89.4%

2.8 4.2

6.2% 11.6%

1H08 1H09

51.4%

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SLIDE 8

8

# of Containers Controlled # BLs Issued

OPERATIONAL INDICATORS

Shipping Agency

# Vessel Calls

1H08 1H09

2.7%

3,011 3,093 2Q08 2Q09

8.6%

1,528 1,659 1H08 1H09

  • 42.0%

46,033 26,693 2Q08 2Q09

  • 39.0%

23,340 14,231 1H08 1H09

  • 44.5%

92,157 51,188 2Q08 2Q09

  • 43.6%

45,752 25,786

NET REVENUES EBITDA & EBITDA Margin (%)

(USD mn)

5.1 3.6 2Q08 2Q09

  • 28.1%

9.9 6.7 1H08 1H09

  • 33.0%

1.2 0.7

23.4% 20.0%

2Q08 2Q09

  • 38.5%

1.8 1.0

18.3% 15.2%

1H08 1H09

  • 44.2%

41% 53% 30% 25% 29% 22%

2Q08 2Q09

Revenue Mix (%)

1H08 1H09 Vessel Calls Cntr Controlled BLs Issues by Service

KEY FINANCIALS

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SLIDE 9

2.1 6.2

47.7% 59.5%

2Q08 2Q09

196.7%

3.2 11.1

42.9% 60.0%

1H08 1H09

243.0%

9

# Days in Operation # PSVs

OPERATIONAL INDICATORS

Offshore

NET REVENUES EBITDA & EBITDA Margin (%)

(USD mn)

KEY FINANCIALS

4.4 10.4 2Q08 2Q09

137.9%

7.6 18.5 1H08 1H09

145.1%

4 6 2Q08 2Q09

50.0%

4 6 1H08 1H09

50.0%

574 935 1H08 1H09

63.0%

301 501 2Q08 2Q09

66.7%

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SLIDE 10

10

Non-Segmented Activities

EBITDA – quarterly and year-to-date

2Q09 vs. 2Q08 1H09 vs. 1H08

(US$ mn)

(11.1) (14.7) 16.5 1.9 3.0 (0.2) (4.7) EBITDA 1H08 Net Revenues Raw Materials Personnel Expenses Other Operating Expenses Profit on Disposal

  • f PPE

EBITDA 1H09 (5.6) (5.1) 4.5 1.5 0.9 (3.9) EBITDA 2Q08 Net Revenues Raw Materials Personnel Expenses Other Operating Expenses EBITDA 2Q09

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SLIDE 11

52.6 67.3

1H08 EBITDA 1H09 EBITDA

27.9%

30.9 36.1

2Q08 EBITDA 2Q09 EBITDA

16.5%

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2Q09 vs. 2Q08: Double-digit growth

(USD mn)

1H09 vs. 1H08: Consistent EBITDA growth

(USD mn)

EBITDA

Quarterly and year-to-date

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SLIDE 12

2Q09 vs. 2Q08

(USD mn)

1H09 vs. 1H08

25.6 (11.8) 7.1 5.4 4.5 (1.7) (0.1) 3.0 1.0 33.1 2Q08 Net Income Net Revenues Raw Materials Personnel Expenses Other Operating Expenses Depreciation & Amortization Expenses Profit on Disposal of PPE Net Financial Results Income Tax Expenses 2Q09 Net Income

29.1%

38.8 (29.5) 21.6 9.3 13.3 (4.2) (0.1) 2.2 (2.3) 49.2 1H08 Net Income Net Revenues Raw Materials Personnel Expenses Other Operating Expenses Depreciation & Amortization Expenses Profit on Disposal of PPE Net Financial Results Income Tax Expenses 1H09 Net Income

26.9%

Net Income

Quarterly and year-to-date

12

(USD mn)

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SLIDE 13

188.0 (151.4) 36.6 Total Debt Cash & Equivalents Net Debt

13

Capital Expenditure & Level of Indebtedness

19.5 33.3 2Q08 2Q09

70.7%

36.4 77.8 1H08 1H09

113.4%

EVOLUTION

35% 21% 12% 1% 29% 2% 1H08 25% 40% 8% 0% 26% 1% 1H09

Offshore Port Terminals Shipping Agency Towage Non-Segmented Activities Logistics

BREAKDOWN CASH POSITION & DEBT PROFILE CAPEX

(USD mn)

DEBT: CURRENCY BREAKDOWN LEVERAGE INDICATORS

3% 97%

ted USD Denominated R$ Denominated As of June, 30th 2009

USD million 06/30/2009 03/31/2009 12/31/2008 R$ Denominated 6.0 4.0 4.2 USD Denominated 182.0 175.3 181.0 Total Debt 188.0 179.2 185.2 USD million 06/30/2009 03/31/2009 12/31/2008 Short Term 17.2 16.4 15.5 Long Term 170.8 162.8 169.7 Total Debt 188.0 179.2 185.2 ( - ) Cash and Equivalents

  • 151.4
  • 163.4
  • 180.0

( = ) Net Debt (Cash) 36.6 15.8 5.2

(USD mn) As of June, 30th 2009

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SLIDE 14

Investor Relations

IR website: www.wilsonsons.com/ir IR e-mail address: ri@wilsonsons.com.br Felipe Gutterres

CFO of the Brazilian subsidiary, Legal Representative & Investor Relations Telephone: + 55 (21) 2126-4222

Sandra Calcado

Investor Relations Manager E-mail: sandra.calcado@wilsonsons.com.br Telephone: + 55 (21) 2126-4263

André Ferreira

Investor Relations Analyst E-mail: andre.ferreira@wilsonsons.com.br Telephone: + 55 (21) 2126-4105

Alexandre Beltrão

Investor Relations Coordinator E-mail: alexandre.beltrao@wilsonsons.com.br Telephone: + 55 (21) 2126-4107

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SLIDE 15

2Q09 and 1H09 Earnings Conference Call and Webcast

August 2009