1 q09 presentation

1Q09 EarningsConference Call and Webcast

May 19, 2009

Legal Advice

This presentation may contain “forward-looking statements” about futureevents or results, in accordance with Brazilian and international regulationsgoverning stock markets. Such statements reflect the assumptions and analysismade by Wilson, Sons (“the Company”) based on experience, the prevailingeconomic environment, market conditions, and expected future events, whichare beyond the Company’s control.

Important factors, which may lead to significant differences between realresults and these forward-looking statements include: the Company's businessstrategy, national and international economic conditions, technology, financialstrategies, financial market conditions, uncertainties regarding the results of theCompany’s future operations, its plans, objectives, expectations, intentions, andother factors described in section entitled "Risk Factors”, made public in theCompany’s initial public offering prospectus, filed with the Brazilian SecuritiesCommission. As a result of these factors, the Company’s real results may differsubstantially from those expressed or implied in forward-looking statements.

2

21.7

31.2

1Q08 1Q09

EBITDA

EBITDA

Margin17.9% 30.1%

16.7

23.8

1Q08 1Q09

Operating Profit

Operating

Margin13.8% 22.9%

13.216.1

1Q08 1Q09

Net Income

Net

Margin10.9% 15.6%

121.2103.6

1Q08 1Q09

Net Revenues

Positive earnings growth despite the negative impact on volumes due to adverse market conditions;

Growth in the offshore business, special operations in towage, and also warehousing activities in port terminals and logistics;

Consolidated results inched higher, strengthened by the Company’s diversified business model, capacity expansion projects and cost-cutting initiatives, amid declining business volumes at core businesses.

3

Consolidated Results – 1Q09

(USD mn)

(USD mn)

44.1%

42.2%22.5%

(USD mn)(USD mn)

-14.5%

Highlights

Port Terminals

Tecon Rio Grande: Challenging business scenario affecting volumes; Tecon Salvador: Lower results from export volumes. Expansion project still under negotiation; Brasco: Acquisition of Brasco’s operational base area in Jan/09. New mid-and long-term contracts in 1Q09.

Towage

Delivery of tugboat Atria in Mar/09; Greater share of special operations in revenues, normally carrying better daily rates.

Offshore

Spot operations still in place.

Logistics Larger number of value-added services and warehousing activities.

Shipyard

Delivery of PSV Petrel in Mar/09: the first of 4 vessels to be delivered to third parties.

Subsequent Event

Payment of Dividends in May/09: USD 16 million; USD 0.225 per share; 34.1% of Full Year 2008 Net Income.

4

37.934.6

16.2%25.1%

1Q08 1Q09

EBITDA (USD mn) & EBITDA Margin (%)

5

Chg. = -8.8%

Chg. = -9.7%

TEUs (‘000)

NET REVENUES (USD mn) & WHAREHOUSING (%)

Brasco Revenues (USD mn) & Participation (%)

Chg. = 119.8%

Chg. = -11.2%

OPERATIONAL INDICATORS

Port Terminals

1.4

3.0

3.6%

8.7%

1Q08 1Q09

56.6 46.2

141.4132.2

1Q08 1Q09

Tecon Salvador Tecon Rio Grande

200.9

178.4

-18.3%

-6.5%

56,6 46,2

141,4132,2

1Q08 1Q09

Tecon Salvador Tecon Rio Grande

11.810.7

31.2% 30.9%

1Q08 1Q09

6

Special Operations Participation (%)

Chg. = -16.0%

Chg. = -13.7%

Chg. = 17.0%

NET REVENUES (USD mn)



# Manoeuvres

Towage

14,64012,295

1Q08 1Q09

11.513.5

31.7%

42.9%

1Q08 1Q09

36.331.4

1Q08 1Q09

7.0%

8.5%

Harbour Manoeuvres Special Operations

5.6%

8.5%

3Q08

3Q07

9M08

9M07

7.4 12.9

92.6 87.1

1Q08 1Q09

Operações Especiais Manobras Portuárias

7

Chg. = -12.6%

Chg. = 35.5%

Chg. = -10.0%

Chg. = -8.0%




# of Trips

# of Operations

Logistics

17,42015,675

1Q08 1Q09

22.119.3

1Q08 1Q09

2.02.6

8.8%

13.7%

1Q08 1Q09

2523

1Q08 1Q09

4.9

3.0

1Q08 1Q09

46,405

25,402

1Q08 1Q09

22,693

12,462

1Q08 1Q09

8

Chg. = -38.2%

Chg. = -3.3%

Chg. = -45.3%

Chg. = -45.1%




Vessel Calls

Bills of Lading Issued

Containers Controlled

Chg. = -55.0%

Shipping Agency

1,483 1,434

1Q08 1Q09

0.60.3

12.9%

9.4%

1Q08 1Q09

9

Chg. = 325.8%




# PSVs

Days in Operation

Chg. = 66.7%

Chg. = 59.0%

Chg. = 154.9%

Offshore

1Q08 1Q09

273

434

1Q08 1Q09

1.2

5.0

36.4%

60.7%

1Q08 1Q09

3.2

8.2

1Q08 1Q09

10

Non-Segmented ActivitiesEBITDA – quarterly

1Q09 x 1Q08 (USD mn)

-5.4

4.2

0.2 0.2 -0.8

1Q

08 E

BIT

DA

Ship

yard

Activitie

s

Fx Im

pact

Oth

ers

1Q

09 E

BIT

DA

11

EBITDA1Q09 vs 1Q08

21.7

31.2

1Q08 EBITDA 1Q09 EBITDA

44.1%

1Q09 x 1Q08 (USD mn): Double-digit growth, despite pressured volumes from adverse market conditions

1Q09 x 1Q08 (USD mn)

Net Incomequarterly

13.2 -17.616.1

14.5

3.9 -2.58.8

-0.1 -0.8-3.3

1Q

08 N

et In

com

e

Net Revenues

Raw

Mate

rials

Pers

onnel Expenses

Depre

cia

tion &

Am

ort

isation E

xpenses

Oth

er O

pera

ting E

xpenses

Pro

fit on d

isposal of

Pro

pert

y P

lant &

Equip

ment

Net Fin

ancia

l Results

Incom

e T

ax E

xpenses

1Q

09 N

et In

com

e

17.0

44.5

1Q08 1Q09

37.8%35.8%

0.9%

6.5%

17.4%

1.7%

Offshore

Terminais Portuários

Agenciamento Marítimo

Logística

Rebocagem

Atividades Não-segmentadas

28.4%

30.1%

0.0%

9.3%

31.4%0.8%

Offshore

Terminais Portuários

Agenciamento Marítimo

Logística

Rebocagem

Atividades Não-segmentadas

CAPEX LEVERAGE

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CAPEX EVOLUTION (USD mn) CURRENCY BREAKDOWN

LEVERAGE INDICATORSCAPEX BREAKDOWN

26,8%

27,1%

2,7%

2,5%

39,2%1,7%

Offshore Port Terminals Shipping Agency

Logistics Towage Non-Segmented Activities

26,8%

27,1%

2,7%

2,5%

39,2%1,7%



26,8%

27,1%

2,7%

2,5%

39,2%1,7%



Chg. = 162.6%

Consistent Investment & Low Leverage Ratios

(USD mn) 03/31/2009 12/31/2008 09/30/2008R$ DenominatedUSD DenominatedTotal Debt

4.0175.3179.2

1Q091Q08

4.9153.3158.2

4.2181.0185.2

03/31/2009 12/31/2008 09/30/2008Short Term 13.3Long Term 144.9Total Debt 158.2( - ) Cash and Equivalents -174.7( = ) Net Debt/Cash -16.5

15.5169.7185.2-180.0

5.2

(USD mn)16.4

162.8179.2-163.415.8

IR website:

www.wilsonsons.com/ir

IR e-mail address:

[email protected]

Felipe Gutterres

CFO of the Brazilian subsidiary. Legal Representative & Investor Relations

E-mail: [email protected]: + 55 (21) 2126-4222

Sandra Calcado

Investor Relations ManagerE-mail: [email protected]

Telephone: + 55 (21) 2126-4263

BOVESPA: WSON11Bloomberg: WSON11 BZ

Reuters: WSON11.SA

Investor Relations

1Q09 Earnings

Conference Call and Webcast

May 19, 2009

Documents

1 q09 presentation