Wilson, Sons Reports Strong Fourth Quarter and Full Year Revenues of USD 159.1M and USD 575.6M respectively

Mar 25, 2011, 19:29 ET from Wilson Sons Limited

RIO DE JANEIRO, March 25, 2011 /PRNewswire/ -- Wilson Sons Limited ("WSON11"), announces its results for the Fourth Quarter of 2010 ("4Q10") and Full Year 2010 ("FY10").


The Company reported Net Revenues of USD 159.1M for the quarter, up 23.0% compared to 4Q09 and FY of USD 575.6M, up 20.4%, with volumes expanding across all businesses.

928.7 thousand TEU were moved through our Container Terminals for 2010, an all-time record, up 4.6% over 2009 despite the adverse impact of the strong Real.

Brasco experienced impressive revenue growth, 85.0% up compared to 4Q09 (FY up 84.2%), largely as a result of an upsurge in volumes of existing long-term clients.

"We are pleased to deliver another strong year to our shareholders. Wilson, Sons' record investment of USD 190.3 million in 2010 demonstrates our commitment to developing port, maritime, and logistics infrastructure for the service of our clients. The Company is experiencing outstanding demand in the areas of international trade, oil and gas, and the Brazilian domestic economy", says Cezar Baiao, CEO of Operations in Brazil.

EBITDA of USD 30.4M for the quarter was up 8.3% due to positive results in Port Terminals, Logistics and the shipyard. FY EBITDA of USD 121.4M declined 5.4% as a result of the Offshore joint venture formation, higher provisions for the cash-settled stock option plan, and reduced fiscal credit receipts.

Net income for the quarter declined 40.2% to USD 8.7M (FY down 21.6%) as a result of lower operating profit, a decrease in financial revenues, and an increase in financial expenses.

Wilson, Sons' full 4Q 2010 Earnings Release is available online at: www.wilsonsons.com.br/ir

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

IR Contacts:
Michael Connell
Guilherme Nahuz
Eduardo Valenca
+55 21 2126-4107

SOURCE Wilson Sons Limited