Wilson Sons
INVESTOR PRESENTATION
MARCH 2024
Table of Contents
- SECTION 1 Company Introduction
- SECTION 2 Business Overview
- SECTION 3 Financial Highlights
- SECTION 4 Appendix
Disclaimer:
This presentation contains statements that may constitute forward-looking statements. Such statements are subject to risks and uncertainties as various factors, many of which are beyond the control of Wilson Sons, may cause actual developments and results to differ materially from the expectations contained in this presentation. Management's beliefs and assumptions may or may not prove to be correct and there can be no assurance that any estimates, targets or projections are attainable or will be realised, and actual results may vary materially, including the possibility that an investor may lose some or all of its invested capital. These statements are not guarantees of future performance and undue reliance should not be placed on them. The information contained herein has been compiled on a preliminary basis, and there is no obligation to update any of the information. The Company's operating and financial results, as presented on the following slides, were prepared in accordance with the International Financial Reporting Standards (IFRS), except as otherwise expressly indicated. The independent auditor's report is an integral part of the Company's condensed consolidated financial statements.
SECTION 2 Business Overview
- Rio Grande Container Terminal
- Salvador Container Terminal
- Towage
- Offshore Support Vessels
SECTION 4 Appendix
- Santo André Logistics Centre
- International Logistics (Allink)
- Shipping Agency
- Offshore Support Bases
- Shipyards
- Technology Start-ups
2
SECTION 1
Company Introduction
Salvador container terminal
Wilson Sons at a Glance
Largest integrated provider of port and maritime logistics in Brazil.
4
Amazon River
Company Highlights
- 186-yearheritage with solid operational expertise, strong reputation and robust financial performance (IFRS net revenue of US$487M and EBITDA margin of 42% in 2023);
- Premium long-term assets with leading footprint in attractive markets;
- Highly synergistic businesses (e.g. know-how shared across divisions, majority of top 50 clients served by 2+ units);
- Naturally-hedgedportfolio with US$ cash generation and competitive financing;
- Experienced and innovative management team;
- Publicly traded on Brazil's premium listing segment adopting high corporate governance standards;
- Top ESG ratings and world-class safety performance.
Increase in Financial Strength
EBITDA (IFRS, US$ M) | EBITDA Profile (IFRS, 2023) |
LEADING
NATIONWIDE FOOTPRINT
152 146 | 183 169 168 154 172 161 142 137 159 182 206 | |
73 | 87 109 109 108 | +6.3% |
CAGR (2006-2023) |
56%
18%
44% 82% 109%
(9%)
Revenues CostsEBITDA
BRL-denominated | USD-denominated | |
CONTAINER TERMINALS
OTHER OPERATIONS (MAINLY TOWAGE)
Safety Performance Improvement
3.70 | Lost-Time Injury Frequency Rate(1) | |||||||||||
2.84 | LTIFR dropped 93% in 12 years | |||||||||||
1.72 | ||||||||||||
1.59 | ||||||||||||
0.70 | 0.48 | 0.48 | 0.31 | 0.57 | 0.64 | 0.50 | 0.26 | |||||
2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Source: Company Information | |
Notes: (1) LTIFR refers to the number of lost-time injuries occurring in a workplace per one million hours worked. IFRS figures, excluding the offshore vessel joint venture and the international logistics division | 4 |
(Allink). |
Business Units
Synergistic portfolio with exposure to attractive growth drivers.
CONTAINER TERMINALS | LOGISTICS CENTRE | |
SHIPPING AGENCY
TOWAGE
OFFSHORE SUPPORT VESSELS
INTERNATIONAL LOGISTICS
SHIPYARDS
OFFSHORE SUPPORT BASES
5
Resilient Business Drivers
Brazilian trade flow and offshore energy have solid fundamentals and robust growth prospects.
TRADE FLOW
OFFSHORE ENERGY
CONTAINER | AGRIBUSINESS | MINING | LIQUID BULK & OTHER | |||
Source: Company Information | 6 |
Attractive Market Prospects: Trade Flow
Brazilian trade flow has grown considerably in the last decade and has great prospects.
Solid Trade Flow Growth Despite Brazil's Recession in 2015 and 2016… | |||||||||||
(M tonnes) | |||||||||||
Brazil's Recession | 1,122 | 1,156 | 1,215 | 1,219 | 1,290 | 3.0% CAGR12-22 | |||||
1,088 | 1,104 | Brazil's Volume | |||||||||
929 | 969 | ||||||||||
904 | |||||||||||
+42.7% | 0.4% CAGR12-22 | ||||||||||
Brazil's GDP | |||||||||||
Growth | |||||||||||
2012 | 2013 | 2014 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 7.6x Multiplier | |
…and Despite Recent Improvement, There's Further Room to Grow… | |||||||||||||||
(merchandise trade as a percentage of GDP) | |||||||||||||||
49 | 51 | 46 | 50 | 49 | 49 | 48 | 44 | 44 | 46 | 44 | 47 | 51 | |||
42 | 42 | 42 | |||||||||||||
51 | |||||||||||||||
49 | |||||||||||||||
41 | 40 | 42 | |||||||||||||
40 | 41 | 37 | 37 | ||||||||||||
34 | 37 | 37 | 35 | 36 | 36 | ||||||||||
33 | 33 | ||||||||||||||
31 | |||||||||||||||
25 | |||||||||||||||
21 | 22 | 17 | 18 | 19 | 19 | 20 | 19 | 20 | 18 | 18 | 22 | 22 | |||
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
Brazil | LatAm | World |
…When Compared to Similar Economies
(merchandise trade as a percentage of GDP, 2022)
355% | ||||||||||
LatAm Countries | ||||||||||
212% | ||||||||||
50% | 51% | 51% | 52% | 57% | 62% | 68% | 85% | 88% | ||
33% | 43% | |||||||||
World | LatAm |
Sources: Brazilian National Waterway Transportation Agency (ANTAQ), World Bank | 7 |
Industry-Leading ESG Standards Backed by Solid Values
Top ranking in major ESG ratings and world-class safety standards.
Culture and Values
Awards, Certifications and Initiatives
Ethical Conduct
- Independent compliance area
- Ethical and anti- corruption code
Enduring Relationships
- Long-termrelationship: +10 years with
top 10 clients
- Regular satisfaction survey
Safety Performance 2023
Mature Safety Culture (Interdependent Stage)
0.22 LTIFR(2)
Outperforming the world- class benchmark of 0.50
S&P Global ESG Score 2022
Transportation & Transportation Infrastructure
Top 20%
Above industry mean in all ESG criteria
Commitment to HSE
- Safety culture with continuous development as a top priority
- WS+ safety programme (DuPont methodology)
- GHG(1) Protocol
Committed to UN's Global Compact
- SDG(3) and GRI(4) indicators reported on WS Sustainability Report and by Bloomberg ESG survey
Talent-Oriented
- Constant training
- Recognition programme
Ownership Spirit
- Improvement programmes
- Clear individual goals
GHG Protocol 2023
Most used tool to manage GHG(1) emissions
Gold Seal
Best certification level for GHG inventory disclosure (3rd consecutive year)
Disclosure Initiatives
Source: Company Information | 8 |
Notes: (1) Greenhouse Gas (GHG); (2) LTIFR stands for the number of lost-time injuries occurring in a workplace per one million hours worked; (3) Sustainable Development Goals (SDG); (4) Global Reporting Initiative (GRI) |
Strategic Platform for Expansion in Latin America
LatAm is a relevant region with substantial growth prospects and WS is a strategic platform for expansion.
LatAm is Already Enormous When Compared to Other Regions…
…And is Poised to Increase its Relevancy in Global Trade
Trade Volume
(2021) | ||
Country | Volume | Share of |
(B tonnes) | LatAm | |
1.2 | 60% | |
Brazil | ||
0.3 | 14% | |
Mexico | ||
Rest of | 0.5 | 26% |
LatAm | ||
LatAm | 2.0 | 100% |
LatAm's trade volume is larger
than North America's
GDP
(2022) | ||
Country | GDP | Share of |
(US$ T) | LatAm | |
1.9 | 31% | |
Brazil | ||
1.4 | 23% | |
Mexico | ||
Rest of | 2.9 | 46% |
LatAm | ||
LatAm | 6.2 | 100% |
LatAm's GDP is almost twice
as India's
Source of Agricultural Products to Feed the Global Population
(2021) | Grain | Share |
Country | Export | of |
(M tonnes) | World |
148 22%
US
19%
130
Brazil | 2nd | |
56 | 8% | |
3rd | ||
Argentina | ||
Brazil is set to become the
world's largest grain exporter in the next 5 years, surpassing the United States(1)
Source of Minerals Required for Global Energy Transition
(2021)
LatAm LatAm
Mineral Share of Share of
Production Reserves
50% 39%
Silver
40% 38%
Copper
34% 52%
Lithium
LatAm has at least one-third of the production and reserves of the most important minerals for the Global Energy Transition
Sources: Company Information, EMBRAPA, International Energy Agency (IEA), Food and Agriculture Organization Corporate Statistical Database (FAOSTAT), Mexican Navy (SEMAR) | 9 |
Notes: (1) According to the Brazilian Agricultural Research Agency (EMBRAPA) |
Growth Strategy
Multiple growth prospects underpinning sustainable long-term value creation.
RIO GRANDE TERMINAL | SALVADOR TERMINAL | TOWAGE | OFFSHORE ENERGY | |||
1 | Plate Transshipment | 1 | New Quay Capacity | 1 | Market Growth, Commodity Focus | 1 | Market Growth | |||
2 | Portonave Civil Works | 2 | Renewable Energy Projects | 2 | First Mover in New Ports | 2 | Optimise Utilisation at Higher Rates | |||
3 | Industrial Development | 3 | Industrial Development | 3 | LatAm Expansion | 3 | Maximise BR Tonnage Utilisation | |||
4 | Containerisation | 4 | Agricultural Production Growth | |||||||
5 | Expansion Projects | 5 | Containerisation | |||||||
6 | Non-Containerised Cargo | |||||||||
7 | Expansion Projects | |||||||||
Source: Company Information | 10 |
Attachments
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Disclaimer
Wilson Sons SA published this content on 22 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2024 15:50:13 UTC.