Q4 and 2009 Earnings Conference Call and Webcast March 2010 Legal - - PowerPoint PPT Presentation

Q4 and 2009 Earnings Conference Call and Webcast

March 2010

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

39.9 28.0

4Q08 4Q09

• 29.7%

34.0% 21.7%

122.7 128.4

2008 2009

4.6%

24.6% 26.9% EBITDA Margin

5.0 14.5

4Q08 4Q09

188.3%

4.3% 11.2%

46.9 90.0

2008 2009

91.9%

9.4% 18.8% Net Margin

498.3 477.9 96.4 96.3

2008 2009

• 4.1%
• 0.1%

19.4% 20.2%

117.5 129.3 31.2 19.0

4Q08 4Q09

10.1%

• 39.3%

26.6% 14.7% Operating Margin

3

Consolidated Results – 4Q09 & 2009

(USD million) es Operating Profit Net Revenues

07 08

Net Income

Highlights:

• Wilson, Sons’ 2009 results built on a solid base to

confirm long term growth trend, achieved through focus

• n high margin business areas and volume resilience;
• Volume growth at port terminals, % of special operations

in towage revenues, solid growth in the offshore and logistics businesses, and revenue and EBITDA growth at Brasco;

• EBITDA results reached US$128.4 million and Net income

US$90 million for the year; .

39.9 28.0

4Q08 4Q09

• 29.7%

34.0% 21.7%

122.7 128.4

2008 2009

4.6%

24.6% 26.9% EBITDA Margin 07 08

EBITDA

 Port Terminals

• Volume increase at port terminals through resilient cargo mix;
• Revenue growth at Brasco, related to demand in oil & gas.

 Towage

• Special operations as a percentage of towage revenues increased from 9.1% to 14.3%;
• Fleet size grew to 71 vessels with seven new tugboats delivered in 2009 (Atria, Andromedra, Vega, Hadar, Uranus,

Cepheus e Auriga).

 Offshore

• Revenue and EBITDA growth continue with the fleet expansion and demand from oil and gas.
• Fleet size grew to 7 vessels with 2 new PSV´s delivered in 2009 (Petrel & Skua).

 Logistics

• Year on year EBITDA growth through continued focus on higher margin clients

Highlights

4

4Q08 4Q09

• 3.5%

33.7% 41.9% 16.9 16.4 63.4 58.3 2008 2009

• 8.1%

33.2% 37.2%

5.0 6.6 4Q08 4Q09 12.3% 13.6% 32.2% 15.0 26.7 2008 2009 8.8% 15.2% 78.3%

4Q08 4Q09

• 7.6%

242.3 223.9 155.1 29.2 39.5 181.7 32.4 28.2 2008 2009 2.7% 865.1 627.5 120.4 117.2 888.3 639.0 112.6 136.6 4Q08 4Q09 19.8% 40.5 48.5 2008 2009 2.9% 170.5 175.4

5

Port Terminals

NET REVENUES BRASCO TEUs

* Includes shifting, transhipment and inland navigation

*

KEY FINANCIALS

(‘000) (USD mn)

OPERATIONAL INDICATORS

Deep Sea .3 3 Cabotage Others

Net Revenues As % in Port Terminals

(USD mn)

EBITDA & EBITDA Margin (%)

4Q08 4Q09 88.8 82.0 11.2 18.0 2008 2009 90.9 85.7 9.1 14.3

4Q08 4Q09 17.6% 32.4 38.1 2008 2009

• 0.9%

147.1 145.7

6

Towage

Special Operations # Manoeuvres

Harbour Manoeuvres Special Operations

NET REVENUES EBITDA & EBITDA Margin (%)

KEY FINANCIALS

(USD mn)

(% of Total Revenues)

OPERATIONAL INDICATORS

2008 2009

• 10.0%

50,065 55,655 3Q09 4Q09

• 5.3%

13,252 12,547 3Q09 4Q09 12,547

• 1.3%

12,715 54.5 61.3 2008 2009

12.5%

37.0% 42.1% 14.3 15.9 4Q08 4Q09

11.1%

44.2% 41.8%

2 5 5 4Q08 4Q09 40.0% 2 5 5 2008 2009 40.0%

7

# PSVs

OPERATIONAL INDICATORS

Offshore

NET REVENUES EBITDA & EBITDA Margin (%)

(USD mn)

KEY FINANCIALS

*Petrel & Skua Leased from Ultratug * * 135 433 463 4Q08 4Q09 38.1% 231 1359 1814 2008 2009 50.5% * *

6.6 3.9 4Q08 4Q09

• 40.9%

85.4% 36.5% 12.9 19.2 2008 2009

48.9% 59.8% 50.3%

4Q08 4Q09 38.2% 7.7 10.7 2008 2009 76.9% 21.6 38.1

# Days In Operation

25 22 4Q08 4Q09

• 13.3%

25 23 2008 2009

• 8.0%

4Q08 4Q09

• 1.3%

20.3 20.0 2008 2009

• 15.1%

89.3 75.8

8

# of Operations # of Trips

OPERATIONAL INDICATORS

Logistics

NET REVENUES EBITDA & EBITDA Margin (%)

KEY FINANCIALS

(USD mn) 2.5 0.9 4Q08 4Q09

• 65.9%

12.5% 4.3% 6.6 7.1 2008 2009

6.5%

7.4% 9.3% 2008 2009

• 27.0%

70,669 51,591 4Q08 4Q09

• 37.4%

17,376 10,873

4Q08 4Q09

• 0.2%

32,087 32,023 2008 2009

• 31.1%

162,018 111,652 2008 2009 12.1% 5,824 6,527 4Q08 4Q09 21.4% 1,397 1,696

45% 55% 26% 23% 29% 22%

4Q08 4Q09

3.2 4.3 4Q08 4Q09 35.9% 2008 2009

• 13.6%

17.6 15.2

9

# of Containers Controlled # BLs Issued

OPERATIONAL INDICATORS

Shipping Agency

# Vessel Calls NET REVENUES EBITDA & EBITDA Margin (%)

(USD mn)

Revenue Mix (%)

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

KEY FINANCIALS

2008 2009

• 29.7%

79,627 56,009 4Q08 4Q09

• 1.0%

15,319 15,165

0.7 0.8 4T08 4T09

20.0%

18.6% 21.1% 3.3 2.3 2008 2009

• 29.3%

15.3% 18.8%

10

Non-Segmented Activities

EBITDA – quarterly and year-to-date

4Q09 vs. 4Q08 2009 vs. 2008

(US$ mn)

(1.2) (5.7) 1.4 (2.9) (1.5) 0.1 (9.8)

EBITDA 4Q08 Net Revenues Raw Materials Personnel Expenses Other Operating Expenses Other EBITDA 4Q09

(18.0) (24.6) 24.0 (3.5) 2.5 (0.2) (19.8)

EBITDA 2008 Net RevenuesRaw Materials Personnel Expenses Other Operating Expenses Other EBITDA 2009

11

4Q09 vs. 4Q08: Non-recurring 4Q08 Fiscal credits

(USD mn)

2009 vs. 2008: Continued EBITDA growth

(USD mn)

EBITDA

Quarterly and year-to-date

39.9 28.0 4Q08 EBITDA 4Q09 EBITDA

• 29.7%

122.7 128.4 2008 EBITDA 2009 EBITDA 4.6%

5.0 11.8 4.0 (14.6) (12.8) (0.4) (0.3) 0.0 13.9 7.8 14.5

Lucro Líquido 4T08 Receita Líquida Custos de Insumos e Matérias- Primas Despesas de Pessoal Outras Despesas Operacionais Depreciação e Amortização Resultado na Venda de Ativo Imobilizado Resultado na Alienação de Investimentos Resultado Financeiro Líquido IRPJ e CSLL Lucro Líquido 4T09

188.2%

4Q09 vs. 4Q08

(USD mn)

2009 vs. 2008

Net Income

Quarterly and year-to-date

12

(USD mn)

46.9 (20.4) 36.9 (12.8) 2.1 (5.8) (0.3) (4.2) 39.8 7.6 89.9

2008 Net Income Net Revenues Raw Materials Personnel Expenses Other Operating Expenses Depreciation & Amortization Expenses Profit on Disposal of PPE Gain on Disposal of Investment Net Financial Results Income Tax Expenses 2009 Net Income

91.7%

33.9 33.7 4Q08 4Q09

• 0.6%

93.5 149.6 2008 2009

59.9%

33% 30% 10% 1% 25% 1% 2008 21% 46% 10% 0% 22% 1% 2009

Capital Expenditure

Offshore Port Terminals Shipping Agency Towage Non-Segmented Activities Logistics

EVOLUTION: INCREASED CAPITAL INVESTMENT

(USD mn)

13

BREAKDOWN: FLEET EXPANSION

268.0

• 189.3

78.7 Total Debt Cash & Equivalents Net Debt

Cash Position & Debt Profile

LEVERAGE INDICATORS

ted USD Denominated R$ Denominated As of December, 31th 2009 (USD mn) As of December, 31th 2009

14

DEBT CURRENCY PROFILE DEBT SOURCE PROFILE

90% 10%

BNDES (FMM) Others

As of December, 31th 2009

USD million 12/31/2009 09/30/2009 06/30/2009 Short Term 22.0 19.5 20.1 Long Term 245.9 181.5 177.7 Total Debt 268.0 201.0 197.9 ( - ) Cash and Equivalents (189.3) (146.2) (151.4) ( = ) Net Debt (Cash) 78.7 54.8 46.5

9% 91%

Total Debt (%) 12/31/2009 12/31/2008 BNDES (FMM) 90.3 86.2 Others 9.7 13.8 USD million 12/31/2009 12/31/2008 R$ Denominated 23.3 8.4 USD Denominated 244.6 181.0 Total Debt 268.0 189.5

Investor Relations

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

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

Michael Connell

Investor Relations E-mail: michael.connell@wilsonsons.com.br Telephone: + 55 (21) 2126-4107

Guilherme Nahuz

Investor Relations E-mail: guilherme.nahuz@wilsonsons.com.br Telefone:: + 55 (21) 2126-4263

Eduardo Valença

Investor Relations E-mail: eduardo.valenca@wilsonsons.com.br Telephone: + 55 (21) 2126-4105

Q4 and YTD 2009 Earnings Conference Call and Webcast

December 2009