Q3 and YTD 2009 EarningsConference Call and WebcastQ3 and YTD 2009 Earnings

Conference Call and WebcastConference Call and Webcast

November 2009

Conference Call and Webcast

November 2009

Legal Advice

This presentation contains statements that may constitute “forward‐looking statements”This presentation contains statements that may constitute forward looking statements ,based on current opinions, expectations and projections about future events. Suchstatements are also based on assumptions and analysis made by Wilson, Sons and are subjectto market conditions which are beyond the Company’s control.

Important factors which may lead to significant differences between real results and theseforward‐looking statements are: national and international economic conditions; technology;financial market conditions; uncertainties regarding results in the Company’s futurefinancial market conditions; uncertainties regarding results in the Company s futureoperations, its plans, objectives, expectations, intentions; and other factors described in thesection entitled "Risk Factors“, available in the Company’s Prospectus, filed with the BrazilianSecurities and Exchange Commission (CVM).

The Company’s operating and financial results, as presented on the following slides, wereprepared in conformity with International Financial Reporting Standards (IFRS), except asth i l i di t d A i d d t dit ’ i t i i t l t fotherwise expressly indicated. An independent auditors’ review report is an integral part of

the Company’s condensed consolidated financial statements.

2

Consolidated Results – 3Q09 & 9M09

(USDmillion)

‐8.5%‐2.1%

(USD million)

Operating ProfitNet RevenuesHighlights: 

Wilson, Sons’ Q3 2009 results improved, impacted by l h f l

380.8 348.6

18.6%132.4 129.6

7.1%

moderate volume recovery & positive growth in financials;

Volume growth at port terminals, % of special operations into towage revenues, solid performance in the offshoreand logistics businesses, and revenue growth at Brasco;

65.2 77.3

9M08 9M0917.1% 22.2%

23.2 24.9

3Q08 3Q0917.6% 19.2%

OperatingMargin

EBITDA results, for the first time to date, ended over the USD 100 million level in the first nine months of the year;

Q3 2009 results confirmed Wilson, Sons’ long‐term growth trend building on solid year‐to‐date 2009 figures 17.1% 22.2%Margin

EBITDA Net Income

growth trend, building on solid year‐to‐date 2009 figures.

33 1

9.5%

100.3

21.2%

26 3

756.6%

75.5

80.3%

30.2 33.1

3Q08 3Q09

82.8

9M08 9M09

3.1

26.3

3Q08 3Q09

41.9

9M08 9M09

3

3Q08 3Q09

22.8% 25.5%

9M08 9M09

21.7% 28.8%EBITDA Margin

3Q08 3Q09

2.3% 20.3%

9M08 9M09

11.0% 21.7%Net 

Margin

Highlights

Port TerminalsPort TerminalsV l i i l 2 d i d bl di i hVolume increase at port terminals: 2nd consecutive quarter at double‐digit percentage growth rates;Revenue growth at Brasco, related to demand in oil & gas.

TowageTowageOne new tugboat delivered, the ‘Hadar’, in early October 2009;Six other tugboats are under construction at the Company’s Guarujá shipyard.

OffshoreOffshoreOffshoreOffshoreDelivery of PSV Skua in August 2009.

LogisticsLogisticsNew clients added to the service portfolio.

Subsequent Event  Subsequent Event  ‐‐ October 2009October 2009

Announcement of a USD 16 66 million financing facility (a Buyer’s Credit Loan Agreement) signed by Wilson Sons andAnnouncement of a USD 16.66 million financing facility (a Buyer s Credit Loan Agreement), signed by Wilson, Sons and The Export‐Import Bank of China, for equipment acquisition at the Company’s Rio Grande container terminal (Tecon Rio Grande).

4

Port Terminals

‐2.4%

38 1% 33 0%35.8%

NET REVENUES EBITDA & EBITDA Margin (%)

KEY FINANCIALS

(USD mn)

3.3%

130 1 126 9‐7.5%

34.1%38.1%

46 5‐9.8%

33.0%

47.4 48.9130.1 126.9 18.1 16.7 46.5

41.9

3Q08 3Q09 9M08 9M09 3Q08 3Q09 9M08 9M09

OPERATIONAL INDICATORS

16.8% 15.8%10.9%

223.7248.0

178 0

6.7%

622.8664.4

484 0

BRASCOTEUs(‘000) (USD mn)

4.0 

8.2 

8.4%

10.0 

20.1 

7.7%178.0

30.0

40.1

161.5

30.731.5

445.8

88.089.0

484.0

83.497.1

3Q08 3Q09 9M08 9M093Q08 3Q09 9M08 9M09

Deep Sea Cabotage Others

5* Includes shifting, transhipment and inland navigation

* Net Revenues As % in Port Terminals

Towage

NET REVENUES EBITDA & EBITDA Margin (%)

KEY FINANCIALS

(USD mn)

42 2%6.3%

40 1

‐6.2%

114 7 40 245.413.1%

35.0%42.2%

17.7%

37.5%33.9%

3Q08 3Q09

37.7 40.1

9M08 9M09

114.7 107.6 40.2

9M08 9M09

12.815.0

3Q08 3Q09

17.7%

OPERATIONAL INDICATORS

3Q08 3Q09 9M08 9M09 9M08 9M093Q08 3Q09

‐11.5%‐8.1%1.6%

Special Operations# Manoeuvres(% of Total Revenues)

91.5 84.7

15 3

91.5 87.0

13 0

37,51842,40313,835

12,71512,71512,509

3Q08 3Q09

8.5 15.3

9M08 9M09

8.5 13.0

9M08 9M093Q08 3Q092Q09 3Q09

6

Harbour Manoeuvres Special Operations

Logistics

NET REVENUES EBITDA & EBITDA Margin (%)

KEY FINANCIALS

(USD mn)

‐20.2%‐19.2%

5.3%

10.2%

51 6%

5.9%

11.1%

24.419.5

69.0

55.8

1.32.051.9%

4.1

6.251.6%

OPERATIONAL INDICATORS

3Q08 3Q09 9M08 9M09 3Q08 3Q09 9M08 9M09

‐19.2% ‐19.2%‐19.2%‐23.6%

‐36.9%

# of Operations# of Trips

2621

26212621

53,293

40,71819,625

12,390

3Q08 3Q09 9M08 9M099M08 9M093Q08 3Q09

7

Shipping Agency

18 3%

NET REVENUES EBITDA & EBITDA Margin (%)(USD mn)

Revenue Mix (%)by Service

KEY FINANCIALS

26%23%

29% 22%

4 5

‐5.2%‐24.3%

14.4 ‐36.2%

12.3%

18.3%

2.6‐41.7%

14.1%

18.3%

45%55%

3Q08 3Q09

4.5 4.3

3Q08 3Q09 9M08 9M09

10.9 0.8 

0.5 

3Q08 3Q09

2.6 

1.5 

9M08 9M09 Q Q

OPERATIONAL INDICATORS

Vessel CallsCntr Controlled

BLs Issues

# of Containers Controlled# BLs Issued

OPERATIONAL INDICATORS

# Vessel Calls

9.1%22.7% ‐36.5%‐22.6% ‐24.7% ‐38.7%

4,4274,831

1,4161,738 64,308

40 844

18,275

14,151

37,774

28,441129,931

79 629

8

9M08 9M093Q08 3Q09 9M08 9M09

40,844

3Q08 3Q09 3Q08 3Q09 9M08 9M09

79,629

Offshore

NET REVENUES EBITDA & EBITDA Margin (%)(USD mn)

KEY FINANCIALS

42.4% 98.6%

27.5 36.7%

48.5% 46.6% 45.4%

55.7%

6.38.9

3Q08 3Q09 9M08 9M09

13.8

27.5

3.04.2

3Q08 3Q09

6.3

15.3

9M08 9M09

143.2%

3Q08 3Q09 9M08 9M09 3Q08 3Q09 9M08 9M09

OPERATIONAL INDICATORS

40.0% 40.0% 56.3%45.3%

# Days in Operation# PSVs

5

7

5

7

926

1447

352

512

45.3%

3Q08 3Q09 9M08 9M09 9M08 9M093Q08 3Q09

9

Non‐Segmented ActivitiesEBITDA – quarterly and year‐to‐date

(5 8) (5 3)

3Q09 vs. 3Q08 (US$ mn)

(5.8)

(4.2)

6.1 (2.5)

1.1

(5.3)

EBITDA 3Q08

Net Revenues

Raw Materials

Personnel Expenses

Other Operating

EBITDA 3Q093Q08 Revenues Materials Expenses Operating 

Expenses3Q09

9M09 vs. 9M08

(16.9)

(18.9)22.6 (0.6)

4.0 (0.2)(10.0)

10

EBITDA 9M08

Net Revenues

Raw Materials

Personnel Expenses

Other Operating Expenses

Profit on Disposal of PPE

EBITDA 9M09

EBITDAQuarterly and year‐to‐date

9 5%

3Q09 vs. 3Q08: Double‐digit growth

(USD mn)

33.1

9.5%

30.2

3Q08 EBITDA 3Q09 EBITDA

9M09  vs. 9M08: Consistent EBITDA growth

(USD mn)

21.2%

(USD mn)

82.8100.3

9M08 EBITDA 9M09 EBITDA11

Net IncomeQuarterly and year‐to‐date

23.72.1756.6%

3Q09 vs. 3Q08 (USD mn)

3 1 (2 8)

11.3 (7.5)

1.7 (1.2) 0.2 (4.2)

26.3

3.1 (2.8)

3Q08 Net Income

Net Revenues Raw Materials

Personnel Expenses

Other Operating Expenses

Depreciation & 

Amortization 

Profit on Disposal of 

PPE

Gain on Disposal of Investment

Net Financial Results

Income Tax Expenses

3Q09 Net Income

Expenses

9M09 vs. 9M08 (USD mn)

(32.2) 32.9 1.8

15.0 (5.4)0.0 (4.2)

25.9 (0.2)

75.5

41.9

75.5

9M08  Net Revenues Raw  Personnel  Other  Depreciation  Profit on  Gain on  Net Financial  Income Tax  9M09 

80.3%

Net Income Materials Expenses Operating Expenses

p& 

Amortization Expenses

Disposal of PPE

Disposal of Investment

Results Expenses Net Income

12

Capital Expenditure & Debt Profile

9M08 9M09

EVOLUTION BREAKDOWN

CAPEX

(USD mn)

64.0%

115.9

94.2%36%

24%

9%

20%47%

1%

(USD mn)

23.238.1

3Q08 3Q09

59.7

9M08 9M09

1%29%1% 9%

0%

23%

OffshorePort Terminals Shipping AgencyTowage Non‐Segmented ActivitiesLogistics

CASH POSITION & DEBT PROFILE

190.9(143.7)

5%

DEBT STRUCTURE: CURRENCY BREAKDOWN LEVERAGE INDICATORS

As of September, 30th 2009(USD mn)As of September, 30th 2009

190.947.2

Total Debt Cash & Equivalents Net Debt95%

USD Denominated

R$ Denominated

13

Investor Relations

Felipe Gutterres

CFO f h B ili b idi L l R i &

Sandra Calcado

I R l i MCFO of the Brazilian subsidiary, Legal Representative & Investor Relations

Telephone: + 55 (21) 2126‐4222

Investor Relations ManagerE‐mail: sandra.calcado@wilsonsons.com.br

Telephone: + 55 (21) 2126‐4263

IR website:

www.wilsonsons.com/irAlexandre Beltrão

IR e‐mail address:

ri@wilsonsons com br

Investor Relations CoordinatorE‐mail: alexandre.beltrao@wilsonsons.com.br

Telephone: + 55 (21) 2126‐4107

ri@wilsonsons.com.br

Q3 and YTD 2009 EarningsConference Call and WebcastQ3 and YTD 2009 Earnings

Conference Call and WebcastConference Call and Webcast

November 2009

Conference Call and Webcast

November 2009