2012 institutional presentation (august)

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Institutional PresentationAugust 2012

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Disclaimer

This presentation contains statements that may constitute “forward-looking statements”, based on currentopinions, expectations and projections about future events. Such statements are also based on assumptionsand analysis made by Wilson, Sons and are subject to market conditions which are beyond the Company’scontrol.

Important factors which may lead to significant differences between real results and these forward-lookingstatements 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’sProspectus, filed with the Brazilian Securities and Exchange Commission (CVM).

The Company’s operating and financial results, as presented on the following slides, were prepared inconformity with International Financial Reporting Standards (IFRS), except as otherwise expressly indicated. Anindependent auditors’ review report is an integral part of the Company’s condensed consolidated financialstatements.

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Wilson Sons is listed on BM&FBovespa in the form of BDRs

Bermuda

Brazil

Free Float

PORT & LOGISTICS SERVICES MARITIME SERVICES

58.25% 41.75%

100.0% 100.0% 100.0% 100.0%50.0%

100.0%

100.0%

92.5%

4

Our Growth Drivers

5

Oil & Gas: Very Positive Outlook

World Oil Reserves (Bn boe)Source: BP Statistics Review 2012 + WS estimates

Brazilian Oil Production (M bpd)Source: Petrobras + OGX + ANP + WS estimates

Demand for Offshore Support Vessels (OSVs)Source: ABEAM / SYNDARMA

2011 2015E 2020E

2.1

4.1

7.0

2011 2015E 2020E

390

457

686

Venezuela

Saudi Arabia

Canada

Iran

Iraq

Brazil (Est.)*

United Arab Em.

Russia

Libya

Brazil

296.5

265.4

175.2

151.2

143.1

100.0

97.8

88.2

46.4

15.1

Growth ofpotential brazilian

reserves by 9 x

* Including Pre-salt Forecast

CAGR14.3%

+ 296

Increased Distances to new Oil Rigs

125 km

300 km

Average Campos Basin Distances

Pre-salt Distances

6

International Trade Flow & Domestic Economy: Brazil’s expansion

Cabotage Nominal CapacitySource: Flow Corretora + WS Estimates

Increasing Container Handling in Brazil (#TEU M)Source: ILOS

Brazil Exports + Imports (USD Bi)Source: MDIC/Secex + Central Bank Estimates

384

482

282229

CAGR 15.1%

2005 2006 2007 2008 2009 2010 2011

193

ExportsImports

371281

Real GDP (USD Tri)Source: PwC

BR

AZI

LG

7

2011 2050 CAGR…

2.4 9.8 4%

30.4 69.4 2%

517

2012E

Aliança

Log-In

Maestra

Mercosul Lines

Vessels(#)

Capacity(‘000 TEU)

# Vessels(#)

Capacity(‘000 TEU)

10

5

4

3

18.4

11.4

7.5

5.4

Total (Brazil) 22 43.4

14

9

6

5

34

30.4

19.2

12.5

8.1

70.2

2011 2015E

Historical CAGR 5.7%

Estimated CAGR 7.4%

2004 2006 2008 2010 2012 2013 2015 2017 2019 2021

5.06.2

7.0 6.8 7.8 8.39.6

11.012.7

14.7

7

Our Business

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Port Terminals (Container Terminals)

901,300Net Revenues

(29% of 2011 Total Revenues)

TEU handled(2011 Tecon RG + Tecon SSA)

1,880,000TEU capacity

(2011 Tecon RG + Tecon SSA)

USD 203M

Tecon Rio Grande

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Port Terminals (Container Terminals)

• Container Terminal concessions for 25 + 25 years in the ports of Rio Grande and Salvador

• Third largest container port operator in Brazil, with 11% market share

• Strategically located assets are key competitive advantage

Tecon Rio Grande Location

Highlights Container Movement (TEU ‘000)Tecon Rio Grande + Tecon Salvador

Total Berth length (m)

# Berths

Total area (sqm)

900

3

670,000

617

2

118,000

Rio Grande Salvador

Draft (m) 15 14

# of STS (Portainers) 6 6

Capacity * 1,350k 530k

* In

clu

din

gTe

con

SSA

Exp

ansi

on

Tecon Salvador Location

850 km

688 km

Paranaguá (Advent)Itapoá (Hamburg Sud)

São Francisco do Sul (Dragados)Itajaí / Navegantes (Maersk / MSC)

Imbituba (Santos Brasil)

Tecon Rio Grande (Wilson Sons)

Tecon Salvador (Wilson Sons)

TVV (Log-In)

Tecon Suape (ICTS)

1,182 km

9011,194

1,700

426865

Historical CAGR 7.0 %

ILOS + WS Estimates CAGR 7.3 %

2,105

2008 2011 2015E 2020E 2023E2000

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Port Terminals (Brasco)

2,229Net Revenues

(10% of 2011 Total Revenues)

Vessel Turnarounds (2011)

10+Berths across all operations

USD 68M

Brasco (Niterói)

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Port Terminals (Brasco)

• Providing support to the Oil & Gas industry, combining own assets and expertise in public ports

• First Oil & Gas private terminal operator in Brazil, with more than 10 years of experience

• Strategically located bases across Brazil with advantageous access to the pre-salt areas

Blocks by Operator: IOCs increasing positionSource: ANP

Espírito Santo

Basin

Campos

Basin

Brasco

Briclog

Santos

Basin

Main Services

Strategic Location Espírito Santo, Campos, and Santos BasinsSource: ANP + WS Estimates

Exploration Development Production

Upstream~ 40 years according to specific areas

~ 91% of Oil & Gas production in Brazil

~ 100 Offshore Drilling and Production Rigs

~ 351 Offshore Support Vessels in operation

Environmental Services

Logistics Solutions

Warehousing

Load/Unload Cargo

84%

16%

70%

30%49%

51%

70%

30%

Petrobras IOCs / OGX

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Logistics

Net Revenues(20% of 2011 Total Revenues)

92,000 sqmBonded Terminal area

(EADI Santo André)

USD 141M

EADI Santo André-SP

21,800 sqmItapevi Logistics Centre area

(LC Itapevi)

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Logistics

• Bonded-warehouse providing operational support to international trade flow

• Logistics centres (LC), intermodal terminals, transportation operations, and NVOCC

• Customized logistics solutions using extensive know-how in industry supply chain

Bonded Terminal (EADI) In-house Operations

NVOCCLogistics Centers (LC)

Logistics Services EBITDA BreakdownUSD M (Administration Costs allocated to Dedicated Operations)

New Logisctics Centre Itapevi EADI and Distribution Centre Statistics

Total Covered Area (sqm)

Distance to Port

33,800

72 km

Total Terminal Area (sqm) 92,000

15,800

108 km

21,800

23,000

1 km

49,000

EADI Sto André LC Itapevi LC Suape

New Projects

11.29.5

3.846%

84%100%

0%

50%

100%

150%

0,0

2,0

4,0

6,0

8,0

10,0

12,0

EADI / LC Dedicated Operations NVOCCIn-house Operations

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Towage

USD 167M 76Tugboats

(Operational)

15.2%Special Operations

(% of 2011 Total Towage Revs)


54,661Harbour Manoeuvres

(2011)

Sculptor Tugboat (OSX Special Operation)

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Towage

• Largest fleet in Brazil, 76 tugboats, 50% share, operating in all major ports of Brazil

• Regulatory protection ensures priority to Brazilian flag vessels (ANTAQ Resolution 494)

• Friendly funding available from FMM (Fundo da Marinha Mercante) – Long-term, Low-cost

OCEAN TOWAGE SALVAGELNG OPERATIONS

20112008 2009 2010

Harbour Manoeuvres

SpecialOperations

SUPPORT TO FPSOCONSTRUCTION

FPSO TOWAGE

Special Operations

New Port FacilitiesSource: BNDES + WS Estimates

Revenues Breakdown% of Total Towage Revenues

• Refinery Premium I (MA)• Terminal Ponta da Madeira (MA)• Refinery Premium II (CE)• Refinery Abreu e Lima (PE)• Porto Sul (BA)• Porto do Açu (RJ)• Embraport (SP)• Brasil Terminais Portuários (SP)• Itapoá (SC)

BRL ~15 Biin investments

90.9%

9.1%

85.7%

14.3%

84.4%

15.6%

84.8%

15.2%

USD 145.7 MUSD 156.2 M

USD 167.4 M

USD 147.1 M

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Offshore Vessels

USD 41M 17 OSVs14 owned PSVs + 3 flag cover

AHTSs (as of Aug/12)

4,971Days In Operation

(2011)


PSV Pelicano

17

95 43 48 60 74 105 120 152300110

125 110 88 91 83130

238

386

1985 1990 1995 2002 2005 2008 2009 2011 2020E

Foreign

Brazilian

Offshore Vessels

• Regulatory protection ensures priority to Brazilian flag vessels (ANTAQ Resolution 495)


• Wilson Sons 100%-owned shipyard is a key competitive advantage

Total

105

84

189

PSV AHTS Others

257

176

433

Total

2010 2011 2012

10

2015 2017

1214

24

30+

Operational Fleet in Brazil (as of Mar/2012)Source: ABEAM / SYNDARMA

Brazilian Fleet DevelopmentSource: ABEAM / SYNDARMA

WSUT Fleet DevelopmentSource: Wilson Sons

205168 158 148 165

188250

390

686

Foreign Flag Vessels

Brazilian Flag Vessels

Offshore FMM Financing Highlights (as of Jun/2012)Source: Wilson Sons

93

16

109

59

76

135

Foreign flag

Brazilian flag

59%

41%

Grace + Amortization Period

3 + 18 yrs

Average Cost of Debt 3,1%

Duration of Current Contracts

8.8 yrs

Cost of Debt of Current Contracts

3,2%

Outstanding Debt Balance USD 171 MUndrawn Borrowing + Granted Priority

USD 273 M

# Vessels currently financed

16# Vessels with Undrawn Borrowing + Priority

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18

Shipyards

USD 57M 35Vessels Delivered

(2004 - 2011: 10 PSVs + 25 Tugboats)

10,000Guarujá steel processing

capacity (tons / yr)


Guarujá I Shipyard

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Shipyards

• Providing great competitive advantage to the Company’s Towage and Offshore businesses


• Construction plan for more than 50 vessels (Offshore and Tugboats) by 2017

Length (m)

Area (sqm)

Breadth (m)

150

22,000

16

135

17,000

26

Steel Processing Capacity(tons / year)

4,500 5,500

39,000

10,000

Guarujá I Guarujá II Total

Dock type Slipway Dry-dock

OSV Construction Plan

Tugboat Construction Plan

Torda (PSV 4500)

Cormoran (PSV 3000)

Sterna (PSV 4500)

Batuíra (PSV 4500)

WS128 (PSV 4500)

WS131 (PSV 4500)

WS132 (PSV 4500)

WS133 (PSV 4500)

ROVSV (Fugro)

2011 2012 2013

Feb/11

Jul/11

Mar/12

Aug/12

Dec/12

May/13

Apr/13

Jun/13

Feb/14

Crater

Wezen

Alphard

Octans

Pictor

Hamal

Delphinus

Telescopium

2011 2012

May/11

Jul/11

Sept/11

Dec/11

Dec/11

G I

G II

Remotely Operated VehicleSupport Vessel (ROVSV)

Apr/12

Oct/12

Nov/12

Highlights

n/a

n/a

n/a

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Financial Highlights

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Net Revenues USD M

Net Revenues by BusinessUSD M

EBITDAUSD M

EBITDA by BusinessUSD M (ex-Corporate)

Resilience and growth

331.1

404.0

498.3

477.9

575.6

698.0

2006 2007 2008 2009 2010 2011

76.2

91.1

122.7128.4

121.4

163.3

2006 2007 2008 2009 2010 2011

Container Terminals

Brasco Towage Offshore ShipyardLogistics

178.8

203.5

49.2

68.3

102.4

140.5

ShippingAgency

156.2

167.4

28.0

41.443.3

56.7

17.6

20.3

2010

2011

Container Terminals

Brasco Towage Offshore ShipyardLogistics

61.4

74.6

14.916.7

13.1

24.5

ShippingAgency

53.4

61.4

13.111.3

6.1

15.3

0.8

2.7

2010

2011

CAGR of 16.1%

CAGR of 16.5%

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CAPEX Plan

CAPEX Plan Breakdown (2012 – 2017) USD M

Debt Profile(as of Dec/11)

Port Operation Towage Offshore Shipyard Others*

2012-2017 7%10%52%22%10% USD 1.5 Billion

2006-2011 10%5%23%31%30% USD 0.8 Billion

FMM**

*Others: Logistics, Shipping Agency, and Corporate

Consistent investment plan with low indebtedness

Debt Balance: 491 M ; Net Debt : 354 MNet Debt / EBITDA = 2.2xWeighted Avg. Cost of Debt : 4.2%**Fundo de Marinha Mercante

*Others: Logistics, Shipping Agency, and Corporate

801

336

156 153 101

52%

74%84%

93%100%

0%10%20%30%40%50%60%70%80%90%100%110%

-

100

200

300

400

500

600

700

800

900

Offshore Towage Shipyard Port Operation Others *

CURRENCYDenominated in USD 91%

Denominated in BRL 9%

MATURITYLong Term 93%

Short Term 7%

SOURCEOthers 27%

FMM 73%

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Corporate Governance: Voluntarily follow the majority of Novo Mercado rules

Audit Committee

100% TAG ALONG for all minority shareholders

One class of share with equal voting rights

Board of Directors with 20% of independent members

Free-float more than 25% of total capital

Management alignment with shareholders: Cash-settled Stock Options

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Investor Relations Contact Info

BM&FBovespa: WSON11IR website: www.wilsonsons.com/ir

Twitter: @WilsonSonsIRYoutube Channel: WilsonSonsIR

Felipe Gutterres

CFO of the Brazilian Subsidiary and Investor Relations

[email protected]+55 (21) 2126-4112

Michael Connell

Investor Relations


Eduardo Valença

Investor Relations


George Kassab

Investor Relations


http://www.wilsonsons.com.br/ir




