Wilson, Sons Announces Fourth Quarter 2009 Results; Continued Volume and Earnings Resilience in 4Q & FY'09

EBITDA GROWS TO USD 128.4 MN6

News provided by

Wilson Sons Limited

Mar 23, 2010, 07:26 ET

RIO DE JANEIRO, March 23 /PRNewswire-FirstCall/ -- Wilson Sons Limited ("Wilson, Sons" or "the Company"), announces its results for the Fourth Quarter of 2009 ("4Q09" or "Q4 2009") and for the Full Year 2009 ("FY 2009" or "FY'09").

Highlights

Although Brazil's domestic economy has shown growth in the quarter, a strong Real and global financial crisis have meant continued pressure on exporters. In contrast to this market stress, Wilson Sons' resilient business model has seen improved consolidated results for the FY 2009, driven by positive performance in key business volumes and margins.

FY 2009 EBITDA growth of 4.6% was positively influenced by continued outperformance in offshore, higher participation of special operations in towage net revenues and focus on larger and more profitable logistics operations.

FY'09 Net Income growth of 91.9% reflected margin expansion in EBITDA & Financial Revenues of USD 34.3mn (including a foreign exchange gain on investments of USD 24.0mn for FY'09)

Capex increased 59.9% in the FY 2009 due to investments in towage and offshore fleet expansions, as well as new equipment for start-up operations in the logistics business.

Wilson, Sons' 4Q & FY'09 Earnings Release is available on line at: http://www.wilsonsons.com.br/ir

    Felipe Gutterres
    CFO of the Brazilian subsidiary & Investor Relations Director

    Michael Connell
    Investor Relations
    [email protected]
    Telephone: +55 (21) 2126-4107

Company Description: Wilson, Sons, through its subsidiaries, is one of Brazil's largest providers of integrated port, maritime and logistics services. 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 Non-Segmented Activities.

SOURCE Wilson Sons Limited

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