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JUNE 6, 2014
Wilson Sons Meet the Management Day (2014)
2
Disclaimer
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.
3
Agenda
• Security Video
• 1Q14 Results
• Macro Trends: Port and Oil & Gas Exploration and Production Infrastruture
• How we are capturing the demand
• Questions & Answers
4
1Q14 Results
5
Highlights so Far
12.3
14.0
1.1
0.1
Highlights
Vigorous growth in Container Terminal volumes;
Strong volumes and ships with greater deadweight in Towage;
Solid Performance in O&G Support Terminals; and
CAPEX 1Q14 by business (USD million)
Consolidated Figures (USD million)
Total 27.5
Appreciation of the BRL positively affected Net Income
1Q14 1Q13 Chg. (%)
Net Revenues 147.7 148.3 -0.4
EBITDA 40.2 36.0 11.7
EBITDA Margin 27.2% 24.3% 2.9 p.p.
EBIT 24.4 22.2 10.0
Net Income 24.3 19.5 24.3
Net Margin 16.4% 13.2% 3.3 p.p.
75.8
52.3
19.6
51%87%
100%
-200%
-150%
-100%
-50%
0%
50%
100%
150%
0,0
10,0
20,0
30,0
40,0
50,0
60,0
70,0
80,0
Port Terminals &Logistics
Towage &Ship Agency
Shipyards
6
April 2014 Operational Data Volumes are still strong...
4,2503,950
4,314 4,3634,623
4,1704,890 4,618
Jan Feb Mar Apr
2013 2014
342
426
367
423437
556
498
554
Jan Feb Mar Apr
2013 2014
58.965.0
71.8 73.775.9 75.6
92.0 89.1
Jan Feb Mar Apr
2013 2014
Container Terminals (RG + SSA) (TEU „000 Handled)
Towage (Harbour Manoeuvres)
Offshore Vessels (Days of Operations – Owned Vessels)
Growth of 21%
Growth of 31% Growth of 6%
Main Loaded Cargoes
Tecon RG Tecon SSA
Rice 20%
Frozen Chicken 13%
Resin 15%
Tobacco 7%
Leather 4%
Others 41%
Cellulose 28%
Chemicals 22%
Iron and other Metals 18%
Food 8%
Rubber 7%
Others 17%
7
Macro Trends:
Port and Oil & Gas Exploration and
Production Infrastruture
8
Economies of Scale promote Containership (R)Evolution The increase in vessels size is an international reality, as a function of efficiency gains
Panamax (1980) 250 x 32 x 12.5
Post Panamax (1988) 285 x 40 x 13
New Panamax (2004) 366 x 49 x 15.2
Triple E (2013) 400 x 59 x 15.5
Length x breadth x draft (m)
290 x 32 x 12.5 Panamax Max (1985)
300 x 43 x 14.5 Post Panamax Plus (2000)
Post New Panamax (2006) 397 x 56 x 15.5
Type Capacity
3,000 – 3,400 TEU
4,000 – 5,000 TEU
12,500 TEU
18,000 TEU
3,400 – 4,500 TEU
6,000 – 8,000 TEU
15,000 TEU
9
Campos and Santos Basins Strong Infrastructure demand in the short term
Barracuda (Petrobras)
Lula (Petrobras)
Jubarte (Petrobras)
Peregrino (Statoil)
Macaé
Santos / Guarujá
Itajaí
Libra Cessão Onerosa Exploration Development Highest fields (production)
Sites with existing offshore bases
Santos Basin
Campos Basin
264 245
163 151
135 117
94 79
Marlim SulRoncador
MarlimLula
JubarteMarlim…
BarracudaPeregrino
Largest producing fields
Petrobras Statoil
Production
(oil production mbbl/d)
Rio de Janeiro / Niterói
10
North and Northeast regions - Results of 11th Bidding Round (ANP) Prospects and challenges in the Equatorial Margin in the medium and long-term
Barreirinhas*
Ceará*
Potiguar
Pernambuco Paraíba
Pará Maranhão
Espírito Santo
Foz do Amazonas*
Source: ANP
66%
13%
18%
43%
50%
50%
88%
68%
69%
70%
34%
88%
82%
57%
50%
50%
13%
32%
31%
30%
T O T A L B R A S I L
F O Z D O A M A Z O N A S
B A R R E I R I N H A S
P E R N A M B U C O P A R A Í B A
P A R Á M A R A N H Ã O
C E A R Á
P O T I G U A R
S A N T O S
C A M P O S
E S P Í R I T O S A N T O
Petrobras Demais
Market Share (# of blocks)
Others Petrobras
11
New frontiers – Navigation distances in the Equatorial Margin
125 km
- There is a significant distance between the concession blocks and the land in Foz do Amazonas, Pará Maranhão and Barreirinhas basins.
- Even with the pre-salt basins, distances are smaller than Foz do Amazonas and Pará Maranhão basins.
Santos
Vitória
Santos
Distance from basin centre to closest location
Santos
Campos
Espírito Santo Vitória
67 NM
135 NM
138 NM
Macapá
São Luís Pecém
Distance from basin centre to closest location
Areia Branca
Pará Maranhão
Barreirinhas
Foz do Amazonas
Ceará
Potiguar
202 NM
127 NM
40 NM
38 NM
246 NM
Belém
389 NM
329 NM
Rio de Janeiro
12
Growing demand for supply vessels
13 44
95
43 48 60 74
120
173
211 224
300
47
110 125
110 88 91
130
254 239 245
386
13
91
205
168 158 148 165
250
427 450
469
686
1975 1980 1985 1990 1995 2002 2005 2009 2011 2012 2013 2020
OSV FLEET FORECAST
Brazilians Foreigners Total
Petrobras’ new demands
OSVs fleet forecast for national and foreign flags in service in Brazil Source: ABEAM (Sep/2013)
• 146 supply vessels from 2008 to 2014;
• PSV, ORSV and AHTS – 8 + 8 year contracts;
• 87 vessels contracted by 2013
• 61 under construction;
• 26 operating;
• Apr/2014 (6th round): 23 vessels contracted
• Oct/2014 ( 7th round): + 36 vessels.
5.58%
CAGR 2013-2020
Forecast
13
How we are capturing the demand
14
CAPEX End of a significant investment cycle
Investment Cycle: ~US$ 1.0 bi
39.9 23.9
33.339.2
36.3
55.5 49.0
7.0
2007 2008 2009 2010 2011 2012 2013 2014E
136.9
128.7
226.6
127.5116.3
69.659.3
93.5
149.6166.7
262.9
184.2 185.9
120.0
113.0
15
Infrastructure - before civil works
Infrastructure - after civil works (illustrative)
Oil & Gas Support Base Brasco-Caju Expansion
15
16
Towage Well positioned to meet the demand
Average Bollard Pull (tons) 56 51
% of Azimuthal tugboats 81% 53%
Wilson Sons Competitors
# of Ports served 26 14*
* Considers the best positioned competitor
Fleet Profile Source: Wilson Sons internal data (April/2014)
New Port Facilities bring opportunities
Tugboat Operations Centre Operational efficiency gains
New Tugboats Fleet renewal and increased capacity
Aug/13
Aug/13
Nov/13
Feb/14
Jul/14
Mai/15
May/15
Jun/15
Sep/15
Dec/15
Beginning of
Construction
WS 140
WS 141
WS 142
WS 148
WS 149
WS 143
WS 144
WS 145
WS 146
WS 147
Tugboats
Jun/14
Jul/14
Aug/14
Jan/15
May/15
Dec/15
Dec/15
Feb/16
May/16
Aug/16
Expected
Delivery
Vessel Traffic Monitoring & Information System
Increased safety in operations
Efficiency gains: reduced movement of tugboats
Up to Dec/14, 48 tugboats will be tracked by the system
•Terminal Ponta da Madeira – Pier 4 (MA)
• Refinaria Abreu e Lima (PE)
• Porto do Açu (RJ)
• Porto do Sudeste (RJ)
• Embraport (SP)
• Brasil Terminais Portuários (SP)
Jun/13 WS 139 Jun/14
17
Shipyards: Construction of Offshore Support Vessels Remotely Operated Vehicle Support Vessel (“ROVSV”) for Fugro
18
1012
14
18 19 20
24
2010 2011 2012 2013 2014 2015 2016
Offshore Support Vessels Fleet Evolution
18
USD
18,257
USD
20,865
USD
19,969
USD
20,273
New Vessels:
between USD 28.000 and USD 35.000 (estimated)
Average
Daily Rate
Thank you. Questions?
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