RIO DE JANEIRO, May 16, 2011 /PRNewswire/ -- Wilson Sons Limited ("WSON11"), announced its results for the First Quarter of 2011 ("1Q11").
The Company reported strong top-line growth, with net revenues of USD 156.6M, up 29% quarter-on-quarter, with volumes particularly strong in the Brasco oil and gas terminal, Logistics and Shipyards.
Brasco revenue growth was an exceptional 120% compared to 1Q10, with both exploration and production activities increasing across our existing long-term clients.
"We are pleased to deliver yet another robust quarter, with good top-line growth and strong profitability. This result again reinforces the confidence that our customers place in our services," said Cezar Baiao, CEO of Operations in Brazil.
Quarterly EBITDA of USD 39.9M is up 67.6%, with better pricing, warehousing and improved deep-sea and cabotage full-to-empty mix in the container terminals business.
Net income of USD 19.7M for the quarter, is up 216.8% with financial revenues supporting strong operating results.
The Company also unveiled its investment plan of USD 1.8 billion for the next 7 years, investing in the growth of port, logistics, and maritime infrastructure. The investment plan is for the organic growth of existing businesses supporting international trade, oil and gas, and the Brazilian domestic economy.
"We believe that the current expansion of our fleet, the container terminal in Salvador, and doubling of our shipbuilding capacity in Guaruja demonstrates our commitment to create value for our shareholders. The realization of this investment plan will expand Wilson, Sons' ability to deliver services of the highest quality," elaborated Cezar.
Wilson, Sons' full 1Q 2011 Earnings Release is available online at: www.wilsonsons.com.br/ir.
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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