Download - Teleconference 4Q12
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Conference Call and Webcast
4Q12 Earnings
March, 26th, 2013
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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
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4Q12 & 2012 Figures
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Consolidated Figures: Strong 2H12 despite challenging economic conditions
2012 Highlights2012 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
61.846.3
24.4
35%
63%
79%89%
96% 100%
-10%
10%
30%
50%
70%
90%
110%
130%
150%
0
50
100
150
200
250
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 turnaroundsEnd of the temporary Petrobras
operation37.9 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 manoeuvresBetter pricing;
Heavier avg. deadweights177.7 167.4 59.7 61.4
More days in operation
Larger fleet of owned PSVs
Higher average daily rates
Price Renegotiation46.3 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 callsImproved average pricing;
Project Cargo during 201224.4 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
42%
24%
0%
4%
26%
4%
Port Terminals
Towage
Offshore Vessels
Logistics
Shipyard
Corporate
30%
18%
30%
2%
16%
4%
Port Terminals
Towage
Offshore Vessels
Logistics
Shipyard
Corporate
(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
+55 (21) 2126-4112
Michael Connell
Investor Relations
+55 (21) 2126-4107
Eduardo Valença
Investor Relations
+55 (21) 2126-4105
George Kassab
Investor Relations
+55 (21) 2126-4263
Nattalee Souza
Investor Relations
+55 (21) 2126-4293