RIO DE JANEIRO, Aug. 14, 2012 /PRNewswire/ -- Wilson Sons Limited ("WSON11") announces its results for the Second Quarter of 2012 ("2Q12").
The Company recorded Net Revenues of USD 154M and EBITDA of USD 29.6M in the second quarter of 2012.
"Wilson Sons has seen a challenging 2012 so far with a Net Loss of USD 4.6M for the 2Q12 and 1H12 Net Income of USD 1.9M, negatively impacted by currency depreciation and the subsequent impact on Deferred Tax and Monetary Items. It is the long term focus combined with constant revision and fine tuning that allows us to overcome such challenges." said Cezar Baiao, CEO of Operations in Brazil.
The results were also impacted by lower Cabotage and Transshipment volumes in the Container Terminals, the end of the temporary Petrobras operation with Brasco, and discontinuation of certain low-margin operations in the Logistics business. On the other hand, the company announced an increase in its operating cash flow in 1H12.
A large part of the USD 45.0M CAPEX in 2Q12 is attributed to the expansion projects of Tecon Salvador and Guaruja II, in addition to the continued expansion of the Offshore and Towage fleets.
"Our experience in the Ports and Maritime services helps us to maintain a positive view on future market prospects as we continue to focus on delivering our Long Term Investment Plan," concluded the CEO.
Wilson Sons' full 2Q 2012 Earnings Release is available online at: www.wilsonsons.com.br/ir
+55 21 2126-4107
About Wilson Sons
Wilson Sons Limited, through its subsidiaries, is one of Brazil's largest providers of integrated port and maritime logistics solutions. With a business track record of over 175 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