Conference Call and Webcast
May 2008
2
Legal Advice
This presentation may include forward-looking statements about future events or
results in accordance with Brazilian and international regulations governing stock
markets. Such statements are based on assumptions and analyses made by the
Company based on its experience and the economic climate and on market
conditions and expected future events, many of which are beyond the Company’s
control. Important factors which can lead to significant differences between real
results and these forward-looking statements include the Company's business
strategy, national and international economic conditions, technology, financial
strategies, developments in the fertilizer industry, financial market conditions,
uncertainty regarding the results of the Company’s future operations, plans,
objectives, expectations, intentions, and other factors described in "Risk Factors" in
the Preliminary Prospectus filed with the Brazilian Securities Commission. Because
of these factors, the real results of the Company may differ substantially from those
expressed or implied in forward-looking statements.
15.0 16.7 16.2
82.6
121.2104.5
14.9
82.6
1Q07 1Q08 1Q07* 1Q08*
Operating Profit Net Revenues
12.0
13.2
1Q07 1Q08
Net Profit
3
Consolidated
Comments:
Increase in volumes Focus on more profitable services Price readjustment Third party services in Shipyard
Operational
Margin 18.2% 13.8% 15.5%18.0%
46.7%26.5%
11.4% 8.8%
19.2
21.7
19.1
21.2
1Q07 1Q08 1Q07* 1Q08*
EBITDA
EBITDA
Margin 23.2% 17.9% 20.3%
12.9% 11.0%
23.1%
* Excluding Shipyard Effects
* Excluding Shipyard Effects
14.5% 10.9%
10.0%
Net
Margin
US$ MM
US$ MM US$ MM
4
Port Terminals Expansion Tecon Rio Grande: 3rd berth - civil work expected to be concluded in 2H08; 2 STS and 4 RTG being assembled, some of them got operational in 2Q08; Tecon Salvador: 2 RTG and other equipment started operations in 2Q08.
Price Increase Mainly in Port Terminals and Towage.
Offshore 4 new PSVs – 1 delivered in May 14, 2008, 1 to be delivered in 2H08, 1 in 2009 and 1 in 2010. Contracts already settled with Petrobras.
Highlights
Shipyard Construction of 3 PSVs to WSL fleet; Construction of 4 PSVs to a Chilean Company, in an amount of approximately US$100MM, that will be delivered until 2011.
Logistics New clients and more profitable operations.
5
2.5
1.4
1Q07 1Q08
Chg. =2.8%
Chg. =26.3%
Port Terminals
Chg. =24.7%
3.6%
8.4%
371
30,0
37,9
1Q07 1Q08
TEUs (‘000)
NET REVENUES (US$MM)OPERATIONAL INDICATORS
Brasco Revenues (US$ MM) & Participation (%)
EBITDA (US$MM) & EBITDA MARGIN (%)
9.5 11.8
31.6% 31.2%
1Q07 1Q08
Chg. =-45.7%
29 28
52 51
90 95
24 26
1Q07 1Q08
Others Cabotage
Empty Cntrs Deep Sea Full Cntrs Deep Sea
195 201
5.9%
6
EBITDA (US$MM) & EBITDA MARGIN (%)Revenues (US$ MM) & Special Operations
Participation (%)
Towage
Chg. =2.3%
10.3
11.5
35.3%31.7%
1Q07 1Q08
29.3
36.3
1Q07 1Q08
Chg. =24.0%
Chg. =11.4%
14,305 14,640
1Q07 1Q08
Chg. =24.0%
29.336.3
3.4%
7.4%
1Q07 1Q08
NET REVENUES (US$MM)OPERATIONAL INDICATORS
# Manoeuvres
# Containers Transported
7
Logistics
EBITDA (US$MM) & EBITDA MARGIN (%)# Operations
15,12217,420
1Q07 1Q08
14.8
22.1
1Q07 1Q08
2425
1Q07 1Q08
Chg. =49.6%
Chg. =77.8%
1.1
2.0
7.4%
8.8%
1Q07 1Q08
NET REVENUES (US$MM)OPERATIONAL INDICATORS
1.4 1.5
1Q07 1Q08
8
Bills of Lading Issued (‘000)
Containers Controlled (‘000)
EBITDA (US$MM) & EBITDA MARGIN (%)
Shipping Agency
4.5 4.9
1Q07 1Q08
26.3 22.7
1Q07 1Q08
50.8 46.4
1Q07 1Q08
Chg. = 6.9%
Chg. =-60.2%
1.6
0.6
34.7%
12.9%
1Q07 1Q08
Vessel Calls (‘000)
NET REVENUES (US$MM)OPERATIONAL INDICATORS
9
Offshore
EBITDA (US$MM) & EBITDA MARGIN (%)Days of Operation
2
3
1Q07 1Q08
1.8
3.2
1Q07 1Q08
180
273
1Q07 1Q08
Chg. =76.2%
Chg. =41.8%
1.2
0.8
36.4%45.2%
1Q07 1Q08
# PSVs
NET REVENUES (US$MM)OPERATIONAL INDICATORS
10
Non-Segmented Activities - EBITDA
-4.1
-0.7-0.2
-0.4
-0.4
-5.4
1Q
07 E
BIT
DA
No D
ragaport
Results
Thir
d P
art
y S
erv
ices
Ship
yard
Pro
vis
ion f
or
Phanto
m S
tock
Options
Pro
vis
ion f
or
Pro
fit
Shari
ng t
o
Executives
Oth
ers
1Q
08 E
BIT
DA
1Q08 x 1Q07 (US$MM)
+0.5
11
13.2
12.0
38.6 15.2
10.6
0.89.9
0.5 0.1 0.7
1Q
07 N
et
Incom
e
Net
Revenues
Raw
Mate
rials
and
Consum
able
s U
sed
Pers
onnel Expenses
Depre
cia
tion a
nd
Am
ort
isation
Oth
er
Opera
ting
Expenses
Pro
fit
on D
isposal of
Pro
pert
y,
Pla
nt
and
Equip
ment
Net
Fin
ancia
l Results
Incom
e T
ax
Expenses
1Q
08 N
et
Incom
e
Net Income
1Q08 x 1Q07 (US$MM)
CAPEX LEVERAGE
12
2007/12/31
Total Debt
R$ Denominated
US$ Denominated
CAPEX EVOLUTION (US$ MM)
Net Debt / Cash
Cash & Equivalents
Total Debt
Long Term
Short Term
Consistent Investment & Low Leverage Ratios
(US$ MM)
CURRENCY BREAKDOWN
LEVERAGE INDICATORS
(US$ MM) 2008/03/31 2007/12/31
2008/03/311Q07
CAPEX BREAKDOWN
Offshore
Port Operation
Logistics
Towage
Shipping Agency
Non Segmented Activities
1Q08Port
Terminals 37.0%
Shipping Agency1.0%
Towage 18.0%
Logistics0.0%Non
Segmented Activities
2.0%
Offshore 42.0%
17.013.0
1Q07 1Q08
Var. =30.2%
Offshore
Port Operation
Logistics
Towage
Shipping Agency
Non Segmented Activities
Port Terminals
27.0%
Shipping Agency1.0%
Towage 30.0%
Logistics2.0%
Non Segmented Activities
1.0%
Offshore 39.0%
(48.2)
(197.7)
149.5
134.8
14.7
0.1
149.4
149.5144.1
144.0
0.1
(48.4)
(192.5)
144.1
130.1
14.0
13
Investor Relations
Felipe Gutterres – CFO of the Brazilian subsidiary, Legal Representative & Investor Relations
Tel: 55(21)2126-4222
Sandra Calcado – Investor Relations Manager
Tel: 55(21)2126-4263
BOVESPA: WSON11
Bloomberg: WSON11 BZ
Reuters: WSON11.SA
www.wilsonsons.com/ir [email protected]