Conference Call and Webcast
August 2007
2
Legal Advice
This presentation may include forward-looking statements about future events or resultsin accordance with Brazilian and international regulations governing stock markets. Such statements are based on assumptions and analyses made by the Company basedon its experience and the economic climate and on market conditions and expectedfuture events. many of which are beyond the Company’s control. Important factorswhich can lead to significant differences between real results and these forward-lookingstatements include the Company's business strategy. national and internationaleconomic conditions. technology. financial strategies. developments in the fertilizerindustry. financial market conditions. uncertainty regarding the results of the Company’s future operations. plans. objectives. expectations. intentions. and other factorsdescribed in "Risk Factors" in the Preliminary Prospectus filed with the BrazilianSecurities Commission. Because of these factors. the real results of the Company maydiffer substantially from those expressed or implied in forward-looking statements.
3
Consolidated
12.1%
8.8
18.8%
13.8
14.6%
10.6
73.1
2Q06
9.2%
9.2
16.1%
16.1
12.0%
12.0
100.1
2Q07
-2.8pp
4.8%
-2.7pp
17.3%
-2.6pp
12.8%
36.9%
Chg (%)
11.6%
21.2
19.3%
35.3
14.8%
27.0
182.7
1H07
11.3%
17.0
19.2%
28.9
16.1%
24.1
150.3
1H06
0.3ppNet Margin (%)
24.9%Profit for the Period
0.1ppEBITDA Margin (%)
22.3%EBITDA (US$ MM)
-1.3ppOperational Margin (%)
11.9%Operating Profit (US$ MM)
21.6%Revenues (US$ MM)
Chg (%)
4
Port Terminals
REVENUES (US$MM)REVENUES (US$MM)
EBITDA (US$MM) & EBITDA MARGIN (%)EBITDA (US$MM) & EBITDA MARGIN (%)
OPERATIONAL INDICATORSOPERATIONAL INDICATORS
TEUs TEUs ((‘‘000)000)Chg. =2.4%
Chg. =38.1%
Chg. =65.3%
Chg. =26.2%
Chg. =0.9%
Chg. =46.2%
117118
83 60
4652
190169
1H06 1H07
61 66
90 101
44 31
2327
2Q06 2Q07Full Container Deep SeaEmpty Container Deep SeaCabotageOthers
219 224416 420
Revenues (US$ MM) & Revenues (US$ MM) & BrascoBrasco Participation (%)Participation (%)
1H06 1H072Q06 2Q07
34.1
37.23.6%
10.7%
3.7%
10.2%
18.5
19.4
26.7
36.9
2Q06 2Q07
53.0
66.9
1H06 1H07
11.6
7.0
31.5%
26.4%
2Q06 2Q07
21.1
14.4
31.6%
27.3%
1H06 1H07
51H06 1H07
Towage
OPERATIONAL INDICATORSOPERATIONAL INDICATORS
# # ManoeuvresManoeuvres
REVENUES (US$MM)REVENUES (US$MM)
EBITDA (US$MM) & EBITDA MARGIN (%)EBITDA (US$MM) & EBITDA MARGIN (%)
Chg. =-4.2%
Chg. =31.7%
Chg. =53.7%
14,047 13,458
2Q06 2Q07
27,76328,545
1H06 1H07
Chg. =-2.7%
Chg. =22.9%
Chg. =26.2%
2Q06 2Q07
5.7%
1.2%
26.8
35.4
4.7%
0.9%
52.6
64.6
Revenues (US$ MM) & Special Operations Revenues (US$ MM) & Special Operations Participation (%)Participation (%)
26.8
35.4
2Q06 2Q07
52.6
64.6
1H06 1H07
10.7
6.9
30.2%
25.8%
2Q06 2Q07
21.0
16.6
32.5%
31.6%
1H06 1H07
6
Logistics
REVENUES (US$MM)REVENUES (US$MM)
EBITDA (US$MM) & EBITDA MARGIN (%)EBITDA (US$MM) & EBITDA MARGIN (%)
OPERATIONAL INDICATORSOPERATIONAL INDICATORS
# Containers Transported# Containers Transported
# Operations# Operations
15,786 16,806
2Q06 2Q07
20
24
2Q06 2Q07
Chg. =6.5%
Chg. =20.0%
Chg. =28.2%
Chg. =74.6%
29,802 31,928
1H06 1H07
Chg. =7.1%
20
24
1H06 1H07
Chg. =20.0%
Chg. =32.3%
Chg. =42.2%
1.0
0.5
6.6%
4.8%
2Q06 2Q07
2.1
1.4
7.0%
6.5%
1H06 1H07
11.3
14.5
2Q06 2Q07
22.1
29.3
1H06 1H07
7
6.25.2
2Q06 2Q07
10.6 9.8
1H06 1H07
Ship Agency
Bills of Lading Issued (Bills of Lading Issued (‘‘000)000)
Containers Controlled (Containers Controlled (‘‘000)000)
REVENUES (US$MM)REVENUES (US$MM)
EBITDA (US$MM) & EBITDA MARGIN (%)EBITDA (US$MM) & EBITDA MARGIN (%)
OPERATIONAL INDICATORSOPERATIONAL INDICATORS
Vessel Calls (Vessel Calls (‘‘000)000)
1.6 1.3
2Q06 2Q07
Chg. =-20.3%
26.226.5
2Q06 2Q07
46.3
50.8
2Q06 2Q07
Chg. =1.4%
Chg. =9.7%
Chg. =-16.3%
Chg. =4.3%
3.2 2.7
1H06 1H07
Chg. =-15.9%
50.252.9
1H06 1H07
Chg. =5.4%
89.1
101.6
1H06 1H07
Chg. =14.0%
Chg. =-7.5%
Chg. =11.1%
1.8
1.9
28.9%
36.0%
2Q06 2Q07
3.1
3.5
29.5%
35.4%
1H06 1H07
8
Offshore
REVENUES (US$MM)REVENUES (US$MM)
EBITDA (US$MM) & EBITDA MARGIN (%)EBITDA (US$MM) & EBITDA MARGIN (%)
OPERATIONAL INDICATORSOPERATIONAL INDICATORS
## PSVsPSVs
Days of OperationDays of Operation
2
3
2Q06 2Q07
1.9
2.8
2Q06 2Q07
183
254
2Q06 2Q07
Chg. =50.0%
Chg. =38.6%
Chg. =45.2%
Chg. =78.5%
2
3
1H06 1H07
Chg. =50.0%
4.8 4.6
1H06 1H07
Chg. =-3.0%
363
434
1H06 1H07
Chg. =19.5%
Chg. =60.8%
0.9
0.5
31.3%
25.4%
2Q06 2Q07
1.1
1.722.2%
36.7%
1H06 1H07
9
Non-Segmented Activities - EBITDA
2Q07 (US$MM)2Q07 (US$MM) 1H07 (US$MM)1H07 (US$MM)
-3.1
-9.9-10.2
-3.1
-9.9-0.1
-0.8
-1.4
-3.1
-1.1
0.0
-0.7 -0.3
2Q06
EB
ITD
A
Dep
reci
atio
n
2Q06
Ope
ratin
g Pr
ofit
Prof
it on
Dis
posa
l of j
oint
ven
ture
Rel
ease
of s
urpl
us o
n ac
quis
ition
of i
nter
est i
nsu
bsid
iary
Hig
her B
onus
es P
aid
to E
mpl
oyee
s
Third
Par
ties S
ervi
ces S
hipy
ard
Red
uctio
n on
Dra
gapo
rt's R
esul
ts
Oth
ers
2Q07
Ope
ratin
g Pr
ofit
Dep
reci
atio
n
2Q07
EB
ITD
A
-14.0
-5.2
-7.8
-14.5
-2.2
-3.1-2.8
-0.4
-0.7
-0.2
-1.4
-0.8-1.4
1H06
EB
ITD
A
Loss
on
Dis
posa
l of I
nves
tmen
t
Dep
reci
atio
n
1H06
Ope
ratin
g Pr
ofit
Prof
it on
Dis
posa
l of j
oint
ven
ture
Rel
ease
of S
urpl
us o
n A
cqui
sitio
n of
Inte
rest
insu
bsid
iary
Hig
her B
onus
es P
aid
to E
mpl
oyee
s
Third
Par
ties
Serv
ices
Shi
pyar
d
Red
uctio
n on
Dra
gapo
rt's
Res
ults
Oth
ers
1H07
Ope
ratin
g Pr
ofit
Dep
reci
atio
n
1H07
EB
ITD
A
+0.3
+0.1
+0.2
+0.4
10
28.924.4 23.0 23.0 25.8
35.3
2.81.41.4
3.1
19.3%17.2%
19.2%
1H
06
Pro
fit
on
Dis
posa
l of
join
tventu
re
Rele
ase
of
Surp
lus
on
Acq
uis
itio
nof
Inte
rest
Thir
dPart
ies
Serv
ices
-Ship
yard
Loss
on
Dis
posa
l of
Invest
ment
Adju
sted
2H
06
1H
07
13.89.3 9.3
16.1
1.43.1
16.1%
12.7%
18.8%
2Q
06
Pro
fit
on
Dis
posa
l of
join
tventu
re
Thir
dPart
ies
Serv
ices
-Ship
yard
Adju
sted
2Q
06
2Q
07
Revenues, EBITDA & EBITDA Margin
REVENUES (US$MM)REVENUES (US$MM) EBITDA (US$MM) & EBITDA MARGIN (%)EBITDA (US$MM) & EBITDA MARGIN (%)
73.1
100.1
2Q06 2Q07
16.113.8
16.1%
18.8%
2Q06 2Q07
Chg. =17.3%Chg. =36.9%
150.3
182.7
1H06 1H07
Chg. =21.6%
35.3
28.9
19.3%19.2%
1H06 1H07
Chg. =22.3%
ADJUSTED EBITDA (US$MM) & ADJUSTED EBITDA MARGIN (%)ADJUSTED EBITDA (US$MM) & ADJUSTED EBITDA MARGIN (%)
Chg. =73.1% Chg. =36,8%
11
Profit for the Period – Quarter
8.8
27.0
3.1
5.7
2.2 8.2
1.015.4
0.01.5 2.4
9.2
2Q
06 P
rofit
for
the
Peri
od
Pro
fit
on d
isposa
l of
join
t ventu
re
Adju
sted N
et
Pro
fit
Revenues
Raw
mate
rials
and
consu
mable
s use
d
Pers
onnel expense
s
Depre
ciation &
am
ort
ization
Oth
er
opera
ting
expense
s
Pro
fit
on d
isposa
l of
pro
pert
y p
lant
and
equip
ment
Net
financi
al re
sults
Inco
me t
ax e
xpense
2Q
07 P
rofit
for
the
Peri
od
CAGR 61,4%
Non-RecurringResults
US$ MM
12
Profit for the Period – Half Year
17.021.2
2.8
2.8
1.40.4
14.70.8
11.11.132.4
15.3
3.11.4
1H
06 P
rofit
for
the P
eri
od
Rele
ase
of
surp
lus
on a
cquis
itio
n o
fin
tere
st in s
ubsi
dia
ry
Pro
fit
on d
isposa
l of
join
t ventu
re
Loss
on d
isposa
l of
invest
ment
Adju
sted N
et
Pro
fit
1H
06
Revenues
Raw
mate
rials
and c
onsu
mable
s use
d
Pers
onnel expense
s
Depre
ciation &
am
ort
ization e
xpense
Oth
er
opera
ting e
xpense
s
Pro
fit
on d
isposa
l of
pro
pert
y p
lant
and
equip
ment
Net
financi
al pro
fit
Inco
me t
ax e
xpense
1H
07 P
rofit
for
the P
eri
od
CAGR 38,6%
US$ MM
Non-RecurringResults
13
18.7
27.2
1H06 1H07
11.1
14.1
2Q06 2Q07
11.1
0.1
6.6
0.1
0.0
0.7
3.6
2Q06
14.1
0.2
3.8
0.4
0.4
5.5
3.8
2Q07
27.2
0.5
9.2
0.4
0.4
7.9
8.7
1H07
18.7
0.2
8.1
0.2
0.1
2.1
7.9
1H06
Wilson Sons
Non-Segmented Activities
Offshore
Ship Agency
Logistics
Towage
Port Terminal
CAPEX (US$MM)CAPEX (US$MM) LEVERAGELEVERAGE
CURRENCY BREAKDOWNCURRENCY BREAKDOWN
CAPEX BREAKDOWN (US$ MM) CAPEX BREAKDOWN (US$ MM)
Total Debt
R$ Denominated
US$ Denominated
LEVERAGE INDICATORSLEVERAGE INDICATORS
CAPEX EVOLUTION (US$ MM)CAPEX EVOLUTION (US$ MM)
Net Debt
Cash & Equivalents
Total Debt
Long Term
Short Term
Consistent Investment & Low Leverage Ratios
110.2
0.8
109.9 109.9
1.1
111.0
55.6
(54.6)
110.2
95.2
14.9
111.0
95.5
15.5
124.9
1.2
123.6
(50.9)
(175.7)
124.9
108.8
16.1
61.3
(49.7)
(US$ MM) 2006/12/31 2007/03/31 2007/06/30
(US$ MM) 2006/12/31 2007/03/31 2007/06/30Chg. =27.5% Chg. =45.4%
14
Investor Relations
Felipe Gutterres – Finance and IR Director
Tel: 55(21)2126-4222
Sandra Calçado – Investor Relations Manager
Tel: 55(21) 2126-4106
BOVESPA: WSON11
Bloomberg: WSON11 BZ
Reuters: WSON11.SA
www.wilsonsons.com/ir [email protected]