Brazil's Wilson Sons Report Strong Q3 2012 EBITDA
Port & maritime logistics services providers Wilson Sons Ltd. records record EBITDA of US$ 47.4-million in the third quarter of 2012.
The Company recorded Net Revenues of USD 157.5-million and record EBITDA of USD 47.4-million in the third quarter of 2012.
"This quarter results confirm the consistency and robustness of our business plan. Despite a period of macroeconomic uncertainty, the Company generated very strong operating cash flow" said Cezar Baiao, CEO of Operations in Brazil.
The drop in revenues is mainly a result of the depreciation of the average BRL rate, as well as the end of a temporary Petrobras operation with Brasco, and discontinuation of dedicated operations in the logistics business. On the other hand, the company announced Net Income of USD 16.9M, driven by stronger container terminals and towage results
Highlights for the year include the expansion projects of Tecon Salvador and Guaruja II Shipyard, and are expected to significantly increase capacity for both operations.
"We remain confident in the fundamentals of the Company's long-term model and diligent in the execution of our investment projects", concluded the CEO.
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.