Wilson, Sons Delivers Record Revenues and EBITDA in 9M11
RIO DE JANEIRO, Nov. 11, 2011 /PRNewswire/ -- Wilson Sons Limited ("WSON11") announced its results for the Third Quarter of 2011 ("3Q11") and for Nine-month period ending on September 30th, 2011 ("9M11").
Highlights
Quarterly revenues reflect strong volumes all across and record revenues for the nine-month period, with Port Terminals and Logistics especially strong.
"3Q11 was another solid quarter for Wilson, Sons and operational results for 9M11 improved across all businesses", said Cezar Baiao, CEO of Operations in Brazil.
The global financial turmoil, however, in late 3Q11, caused a significant foreign exchange variation, sending the Brazilian Real 19% lower versus the US Dollar. This large FX movement produced a negative impact on the Company's balance sheets.
"A highly unstable economic environment produced considerable and abrupt currency fluctuations in the quarter, which significantly impacted our bottom line. We believe the Company's operational performance has been in line with our expectations but we are watching very closely the growing uncertainty in the global economy", elaborated Baiao.
The expansion of Tecon Salvador, the development of the new Guaruja shipyard, and new Offshore and Towage vessels are the major contributors to the capex of USD 191.9M in 9M11.
Wilson, Sons' full 3Q 2011 Earnings Release is available online at: www.wilsonsons.com.br/ir
IR Contacts:
Guilherme Nahuz
Eduardo Valenca
[email protected]
+55 21 2126-4263
Twitter:@WilsonSonsIR
YouTube: WilsonSonsIR
About Wilson, Sons
Wilson Sons Limited, 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 at www.wilsonsons.com.br/ir
SOURCE Wilson Sons Limited
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