4Q12 Earnings March, 26th, 2013 1 Disclaimer This presentation - - PowerPoint PPT Presentation
4Q12 Earnings March, 26th, 2013 1 Disclaimer This presentation - - PowerPoint PPT Presentation
Conference Call and Webcast 4Q12 Earnings March, 26th, 2013 1 Disclaimer This presentation contains statements that may constitute forward -looking statements, based on current opinions, expectations and projections about future events.
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This presentation contains statements that may constitute “forward-looking statements”, based on current
- pinions, 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.
Disclaimer
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4Q12 & 2012 Figures
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Consolidated Figures: Strong 2H12 despite challenging economic conditions
2012 Highlights 2012 Net Revenues
(USD million)
Continued offshore vessel growth in revenues and EBITDA. Better mix in both Tecons. Record volumes in Tecon SSA; Inauguration of Expansion. Discontinuation of Dedicated Logistics Operations.
2012 EBITDA
(USD million)
4Q12 & 2012 Net Income
(USD million)
- 1%
2011 2012 EBITDA 163.3 151.5 Long Term Incentive Plan 8.9
- 1.7
Adjusted EBITDA 154.4 153.2
226.9 177.7 108.2 61.8 46.3 24.4
35% 63% 79% 89% 96% 100%
Port Terminals Towage Logistics Shipyard Offshore Vessels Shipping Agency
10.1 29.2 4Q11 4Q12 37.3 48.0 2011 2012
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2012 2011 ∆ 2012 2011 ∆
Higher import volumes in both Tecons Weaker USD/BRL FX Rate Ship-owners Transshipment to own private ports (since mid-2011)
189.0 203.5
72.1 74.6
Reduced # of vessel turnarounds End of the temporary Petrobras
- peration
37.9 68.3
9.3 16.7
Phase out of dedicated operations Phase out of dedicated operations
108.2 140.5
13.2 24.5
Lower # of harbour manoeuvres Better pricing; Heavier avg. deadweights
177.7 167.4
59.7 61.4
More days in operation Larger fleet of owned PSVs Higher average daily rates Price Renegotiation
46.3 41.4
15.6 11.3
Higher # of OSVs under construction Pre-operational charges in Guarujá II
61.8 56.7
14.0 15.3
Higher # of vessel calls Improved average pricing; Project Cargo during 2012
24.4 20.3
4.6 2.7
Business Operational Highlights Financial Highlights Net Revenues EBITDA
2012 Highlights by Business: Slowdown in volumes compensated by Better Pricing and Lower costs
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44.4 192.5 335.2 Less than 1 year 1 - 5 years More than 5 years
Cash & Leverage: Comfortable cash position with relatively low indebtedness
CAPEX
(USD million)
2012 CAPEX Breakdown
(%)
Debt, Cash and Net Debt
(USD million)
Debt Maturity Schedule
(USD million)
Net Debt / EBITDA* = 2.8x
* Net Debt / EBITDA calculated 2012 EBITDA
Weighted Avg. Cost of Debt 3.59% per year Port Terminals Towage Offshore Vessels Logistics Shipyard Corporate 30% 18% 30% 2% 16% 4%
(572.1) 140.7 (431.4)
Total Debt Cash & Equivalents Net Debt
262.9 184.2 2011 2012 71.1 48.6 4Q11 4Q12
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2012-2013 Outlook
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Tecon Salvador after the expansion
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Salvador’s largest ever ship - MSC Agadir (300m and 9,000TEU capacity)
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Guarujá II Shipyard – Commencement of Operations
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Towage: Special Operations for new Container Terminals
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The new Logistics Centre SUAPE – PE
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The new PSV Tagaz (Mar13)
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What should we expect in 2013?
Logistics: Beginning of Suape logistics centre operations Tecon Salvador: New weekly services for larger ships Briclog: Conclusion of the acquisition, and beginning of expansion works Offshore Vessels: Total of 19 Company-owned PSVs Guarujá II Shipyard: 100% operational and increased construction for third party Towage: Four new azimuth tugboats
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Investor Relations Contact Info
BM&FBovespa: WSON11 IR website: www.wilsonsons.com.br/ir Twitter: @WilsonSonsIR Youtube Channel: WilsonSonsIR
Felipe Gutterres
CFO of the Brazilian Subsidiary and Investor Relations ri@wilsonsons.com.br +55 (21) 2126-4112
Michael Connell
Investor Relations micr@wilsonsons.com.br +55 (21) 2126-4107
Eduardo Valença
Investor Relations evb@wilsonsons.com.br +55 (21) 2126-4105
George Kassab
Investor Relations grk@wilsonsons.com.br +55 (21) 2126-4263
Nattalee Souza
Investor Relations nva@wilsonsons.com.br +55 (21) 2126-4293