RIO DE JANEIRO, Aug. 13 /PRNewswire-FirstCall/ -- Wilson Sons Limited ("Wilson, Sons" or the "Company"), traded at the BM&FBovespa under ticker symbol "WSON11", announces its results for the Second Quarter of 2010 ("2Q10" or "2Q 2010") and the First Half 2010 ("1H10" or "YTD").
Highlights
Wilson, Sons has seen continued top line growth reflecting strong demand for our integrated business platform of port, maritime, and inland logistics services, mainly servicing international trade and the oil and gas industry. Brazil's cabotage trade and increase in imports have underpinned solid demand for our Port Terminals and Towage for the first half of the year.
In 2Q10, revenues grew 22.7% compared to 2Q09 (year-to-date up 20.1%), with underlying revenue growth across all major businesses. Our Port Terminals quarterly revenues increased by 28.8% quarter-on-quarter (year-to-date up 28.5%), with growth in both Container Terminals and Brasco. Towage revenues for the quarter are up 4.5% and 8.4% when compared to the same periods last year due to strong demand in special operations.
EBITDA was USD 42.1M for the quarter (year-to-date at USD 65.9M), or 29.7% of revenues. Our Net income was USD 31.0M for the quarter and USD 37.3M year-to-date. Excluding non-recurring gains from the formation of the Wilson, Sons Ultratug joint venture in the quarter (net gain of US$6.9M for the Shipyard and US$10.0M for the Company), Net Income would have been US$ 14.1M in 2Q10 (US$ 20.4M year-to-date).
Wilson, Sons' full 2Q 2010 Earnings Release is available online at: http://www.wilsonsons.com.br/ir
Felipe Gutterres Legal Representative and Investor Relations Michael Connell Guilherme Nahuz Eduardo Valenca Investor Relations Team ri@wilsonsons.com.br +55 21 2126-4107 About Wilson, Sons
Wilson, Sons, through its subsidiaries, is one of Brazil's largest providers of integrated port and maritime logistics and supply chain solutions. With a business track record of over 170 years, the Company has developed an extensive national network and provides a comprehensive set of services related to domestic and international trade, as well as to the oil and gas industry. Its principal operating activities are divided into the following lines of business: Port Terminals, Towage, Logistics, Shipping Agency, Offshore, and Shipyards. For more information, please visit our website http://www.wilsonsons.com.br/ri.
Wilson Sons Limited
CONTACT: Felipe Gutterres, Legal Representative and Investor Relations;
or Investor Relations Team, Michael Connell, Guilherme Nahuz or Eduardo
Valenca, +011-55-21-2126-4107, ri@wilsonsons.com.br
Web Site: http://www.wilsonsons.com.br/ir
