Wilson Sons’ half-year profits jump 23 per cent

Wilson Sons' revenues up 9 per cent to BRL1.2 billion

Wilson Sons has recorded profit of BRL197 million ($39.5 million) in the first half of this year, 23 per cent higher than the same period in 2022.

In the second quarter of 2023, the company’s profit was BRL111 million ($22.3 million), an increase of 583 per cent compared to the same period last year.

Net revenues totalled BRL1.2 billion ($240.9 million) in the first six months of this year, advancing 9 per cent over the comparison.

EBITDA totalled BRL497 million ($99.8 million) in the first half of this year, 13 per cent higher than the comparative.

Listed on B3’s Novo Mercado segment under the ticker PORT3, Wilson Sons released its financial results on 9 August, after the close of trading on the Brazilian stock exchange.

According to the company, the positive results reflect the excellent performance in towage, with higher volume and an increase in average revenue per manoeuvre and special operations; container terminal operational growth driven primarily by a robust volume recovery in the Rio Grande container terminal (RS); and the strong recovery in offshore energy-linked services.

READ: Wilson Sons sets productivity record at Rio Grande

In the first half of this year, container terminal revenues grew 6 per cent with volumes up 7 per cent, and a 1 per cent increase in EBITDA.

The Rio Grande terminal reported a 12 per cent increase in overall handling mainly due to a higher number of empty containers, and export, inland navigation, import and transshipment flows.

The Salvador terminal registered flat volumes as the increase in empty containers, cabotage and export flows was offset by lower imports and transshipment.

READ: Wilson Sons plans for renewable energy facilities at Rio Grande

The completion of the quay reinforcement in August 2023 will support an improved service offering in the Salvador terminal through the second half of the year.

Fernando Salek, CEO of Wilson Sons, said: “Overall, the first-half performance demonstrates strong organic growth in our business.

“We remain positive on the fundamentals of our trade flow-related businesses of towage and container terminals which, together with rebounding demand for our offshore energy-linked services, will provide the basis for a superior performance of our assets.

“In the context of a positive market environment, we are confident our continued focus on safety, growing utilisation of assets, cost control and a disciplined approach to capital allocation will yield robust results for clients and other stakeholders of our business.”

Wilson Sons had a 44 per cent increase at the Rio Grande Container Terminal in July 2023 compared to the same time in 2022, totaling 49,100 TEU.

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