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TRANSCRIPT
1
Conference Call and Webcast
1Q13 Earnings
May, 17th, 2013
2
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.
Disclaimer
3
1Q13 Figures
4
11.2
4.4
0.4
3.5
Highlights so far
1Q13 Highlights1Q13 Net Revenues(USD million)
Strong Revenues due to Special Operations in Towage
Intensified third party construction in Shipyard
Weaker export volumes
Conclusion of Tecon Salvador and Shipyard expansions
CAPEX 1Q13 by business(USD million)
Consolidated Results(USD million)
Total
2.1
21.5
52%
20%
2%
16%
10%
Terminais Portuários
Rebocagem
Logística
Estaleiro
Corporativo
53.6
43.7
25.820.3
5.8
36%
65%
82%96% 100%
-10%
10%
30%
50%
70%
90%
110%
130%
150%
0
10
20
30
40
50
60
PortTerminals
Towage Logistics Shipyard ShippingAgency
1Q13 1Q12 Chg. (%)
Net Revenues 149.2 150.2 -0.6
EBITDA 37.9 28.6 32.5
Net Income 19.5 7.2 169.7
EBITDA Margin 25% 19% 6.4 p.p.
Net Margin 13% 5% 8.3 p.p.
52%
20%
2%
16%
10%
Port Terminals
Towage
Logistics
Shipyard
Corporate
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1Q13 1Q12 ∆ 1Q13 1Q12 ∆ 1Q13 1Q12 ∆
Lower export volumes in both
Tecons
Better mix of import-to-export
Increased warehousing in Tecon
Salvador
45.6 47.5 16.8 16.5
Reduced # of vessel turnarounds Devaluation of the BRL/ USD rate 8.0 12.4 1.6 3.3
Phase out of dedicated operations Phase out of dedicated operations 25.8 32.0 5.4 5.2
Lower # of harbour manoeuvres
Strong demand for Special
Operations;
Heavier avg. Deadweights;
Lower costs
43.7 40.4 15.0 9.0
Higher third party constructionPre-operational charges in Guarujá
II20.3 12.0 5.4 4.7
Lower # of vessel callsImproved average pricing;
Lower personnel costs5.8 5.7 1.0 0.0
More days in operation
Larger fleet of owned PSVsHigher average daily rates 11.9 9.2 4.5 1.0 1.2 -4.3
Business Operational Highlights Financial Highlights
Net Revenues EBITDA Offshore Vessels JV
Highlights by Business : Better prices and lower costs help Results
* Corresponds to Wilson Sons’ 50% participation in the JV. Net Revenues and EBITDA are not considered in Wilson Sons’ consolidated results
* * * *
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Deliveries
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Tecon Salvador: Largest ship berthed (~300m and capacity of ~9,000TEU)
8
Tecon Salvador: Commercial Projects
Expertise na
Contêinerização de Grãos
Containerisation: soy, wheat, sugar and
fertilizers
Cabotage development
Focus on the movement of new cargoes
Attracting new cargoes: fruit, coffee and
cotton
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Tecon Rio Grande: Capacity for large liners ships
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Tecon Rio Grande: Commercial Projects
Attraction of cargoes from Uruguay and Argentina
Containerisation of grain cargoes: tests with soy
Expansion of train volumes via new partnerships
Increase of refrigerated cargoes (Reefer): partnership with
Martini Meat
Foco na movimentação de novas cargas
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Towage: Special Operações in 4Q12 and 1Q13
Telescopium – April/13
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Guaruja II Shipyard: High productivity
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Shipyards: Commercial projects
Third Party Vessels: Opportunities: Ship-owners without owned Shipyards
Maintenance: 1) Docking and new services; 2) 415 OSVs in Brazil in 2012
Own vessels: 1) New Petrobras Tenders 2) Demands from IOCs
Mix between owned and third party construction and maintenance
Construction for the group and for third parties
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Shipyards: Possibilities
OSRV (Oil Spill and Recovery Vessel)
AHTS (Anchor Handling Tug Supply)
PSV (Platform Supply Vessel)
ROVSV (Remotely Operated Vehicle Supply Vessel)
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PSV Tagaz – March /2013
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Offshore Vessels: Commercial Projects
Petrobras’ 5th tender: Expected for July/2013
Daily Rates increase when renewing contracts
Contracts with IOCs and Petrobras
Mandrião (New foreign flagged PSV)
New Brazilian and foreign-flagged vessels
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New Logistics Centres: Itapevi (SP) and Suape (PE)
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BM&FBovespa: WSON11
Website de RI: www.wilsonsons.com.br/ri
Twitter: @WilsonSonsIR
Youtube: WilsonSonsIR
Thank You