3 q10 presentation

November 2010

1

Conference Call and WebcastQ3 2010 Earnings

This presentation contains statements that may constitute “forward-looking statements”,

based on current opinions, expectations and projections about future events. Such

statements are also based on assumptions and analysis made by Wilson, Sons and are

subject to market conditions which are beyond the Company’s control.

Important factors which may lead to significant differences between real results and these

forward-looking statements are: national and international economic conditions;

technology; financial market conditions; uncertainties regarding results in the Company’s

future operations, its plans, objectives, expectations, intentions; and other factors

described in the section entitled "Risk Factors“, available in the Company’s Prospectus, filed

with the Brazilian Securities and Exchange Commission (CVM).

The Company’s operating and financial results, as presented on the following slides, were

prepared in conformity with International Financial Reporting Standards (IFRS), except as

otherwise expressly indicated. An independent auditors’ review report is an integral part of

the Company’s condensed consolidated financial statements.

2

LEGAL ADVICE

CONSOLIDATED RESULTS – 3Q10 & 9M10

Highlights Net Revenues (USD million)

EBITDA (USD million) Net Income (USD million)

• Net revenues of USD 153.5M, up 18% comparedto 3Q10 (YTD up 19%) with volumes increasing inTowage, Logistics, Shipping Agency, and impressiverevenue growth at Brasco;

• EBITDA of USD 25.2M for 3Q10 and USD 91.1MYTD, including a re-categorisation of USD 10.4Mrelated to Offshore JV formation;

• Net income of USD 24.6M for the quarter, down6%.

3

348.6

416.4

9M09 9M10

19%

129.6

153.5

3Q09 3Q10

18%

33.1

25.2

3Q09 3Q10

-24%

31,2% 29,7%25.5% 16.4%EBITDA Margin

(%)

100.3

91.1

9M09 9M10

-9%

28.8% 21.9% Net Margin

(%)

26.3

24.6

3Q09 3Q10

-6%

20.3% 16.0%

75.5

61.9

9M09 9M10

-18%

21.7% 14.9%

HIGHLIGHTS BY BUSINESS

Port Terminals• Revenue growth of 31.7% for the quarter (up 29.7% YTD)• Brasco: impressive revenue growth largely as a result of increased activity and auxiliary services• Tecon Salvador begins expansion that will increase by 50% the Terminal’s capacity

Towage• Revenues increased 2.0% for the quarter (up 6.0% YTD)• Growth in special operations, which now represents 14.8% of total Revenues

Offshore• Decrease of 47.6% in quarterly revenues is a direct result of the joint venture formation• PSV Talha-Mar was added to our fleet on October/2010

Logistics• New contracts were added and increased activity for existing clients.

Shipyard• Revenues were up 53.3% as a result of accounting recognition for vessels completing

Shipping Agency• Higher volumes drive Revenue growth compared to 3Q10

Port System

Maritime System

Logistics System

4

3Q09 3Q10

0%247.8

162.6

36.3

48.9

178.0

30.0

40.1

248.0

9M09 9M10

484.0

664.44%

83.4

97.1

690.0

447.2

97.1

145.6

PORT TERMINALS

Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%)

Volumes (TEUs ‘000) Brasco Revenues

198.2

238.0

29.0 34.230.9 29.6

138.3174.2

2Q08 2Q09

399.1 416.4

57.5 57.0

57.2 53.4

284.3 306.0

1H08 1H09

Deep Sea

Cabotage

Others

198.2

238.0

29.0 34.230.9 29.6

138.3174.2

2Q08 2Q09

399.1 416.4

57.5 57.0

57.2 53.4

284.3 306.0

1H08 1H09

Deep Sea

Cabotage

Others

198.2

238.0

29.0 34.230.9 29.6

138.3174.2

2Q08 2Q09

399.1 416.4

57.5 57.0

57.2 53.4

284.3 306.0

1H08 1H09

Deep Sea

Cabotage

Others

* Includes shifting, transshipment, and inland navigation

5

*

3Q09 3Q10

32%

48.9

64.4

9M09 9M10

30%

126.9

164.6

16.7

22.9

3Q09 3Q10

34.1% 35.5%

37%

41.9

55.5

9M09 9M10

33.0% 33.7%

32%

8.2

15.2

3Q09 3Q10

85%

20.1

37.0

9M09 9M10

84%

TOWAGE

# Manoeuvres Special Operations (% Total Towage Revenues as of 9M10)

Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%)

6

3Q09 3Q10

2%

40.1

40.9

9M09 9M10

6%

107.6

114.0

9M09 9M10

2%

3Q09 3Q10

4%

12,71513,180

37,51838,085

85.2

14.8

Harbour Manoeuvres

Special Operations

45.4

40.0

9M09 9M10

-12%

15.015.8

3Q09 3Q10

5%

37.5% 38.6% 42.2% 35.0%

OFFSHORE

# Days in Operation* # PSVs*

Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%)

20082009

20105

7

10

7* Includes the total numbers for the joint venture, of which Wilson, Sons owns 50%

3Q09 3Q10

8.9

4.7

-48%

9M09 9M10

-12%

27.5

24.3 4.2

2.4

3Q09 3Q10

-43%

46.6% 50.5%

15.3

11.1

9M09 9M10

-27%

55.7% 45.7%

1,447

2,167

9M09 9M10

50%

512

819

3Q09 3Q10

60%

SHIPYARD

Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%)

8

7.8

11.9

3Q09 3Q10

53%

19.7

31.6

9M09 9M10

61%4.5

-7.3

3Q09 3Q10

58.4% -60.9%

11.7

4.6

9M09 9M10

59.6%

-61%

14.6%

SHIPPING AGENCY

Operational Indicators

Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%)

# Vessel Calls # BLs Issued # Cntrs Controlled

9

4.3

4.7

3Q09 3Q10

9%

10.9

12.7

9M09 9M10

16%

0.5

0.1

3Q09 3Q10

-87%

1.5%12.3%

1.5

1.1

9M09 9M10

-30%

8.5%14.1%

9M09 9M10

11%

4,8315,339

3Q09 3Q10

9%

1,7381,902

9M09 9M10

14%

40,844

46,748

3Q09 3Q10

23%

14,151

17,384

3Q09 3Q10

14%

28,441

32,400

9M09 9M10

10%

79,629

87,473

LOGISTICS

# Trips # of Operations

Net Revenues (USD million) EBITDA (USD million) & EBITDA Margin (%)

10

3Q09 3Q10

38%

19.5

26.8

9M09 9M10

24%

55.8

69.1

2.0

2.6

3Q09 3Q10

31%

10.2% 9.7%

6.2

7.1

9M09 9M10

15%

11.1% 10.3%

2125

3Q09 3Q10

19%

2125

9M09 9M10

19%

9M09 9M10

49%

40,718

60,843

3Q09 3Q10

9%

12,390

13,556

CORPORATE

9M09 vs. 9M10

3Q09 vs. 3Q10

11

(USD million)

(USD million)

EBITDA 3Q09 Exchange rate effect Personnel expenses Other expenses EBITDA 3Q10

(0.2)

(11.3)

(0.5)(0.7)

(9.9)

EBITDA 9M09 Exchange rate effect Settlement of legal proceeding

Personnel expenses Other expenses EBITDA 9M10

(0.7) (1.3)

(28.3)

(1.0)(3.7)

(21.7)

EBITDA

9M09 vs. 9M10

3Q09 vs. 3Q10

12

(USD million)

(USD million)

33.1

6.2 0.8

(1.8)

0.6

(11.8) (0.5) (1.4)

25.2

EBITDA 3Q09 Port Terminals Towage Offshore Logistics Shipyard Shipping Agency

Corporate EBITDA 3Q10

-24%

100.3

13.6

(5.4) (4.2)

0.9

(7.1) (0.5)(6.6)

91.1

EBITDA 9M09 Port Terminals Towage Offshore Logistics Shipyard Shipping Agency

Corporate EBITDA 9M10

-9%

NET INCOME

9M09 vs. 9M10

3Q09 vs. 3Q10

13

(USD million)

(USD million)

75.5 61.9

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9M

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9M

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20.4

(7.5)

(21.1)

14.0

(10.2)

-18%

(9.3)

26.3 24.6

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3Q

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3Q

10

(2.5)

(7.0)

3.1 2.2

-6%

(7.9)

10.4

*

* Divestiture of 50% Offshore

*

21%

47%

23%

9%1%

29%

27%

20%

21%

1% 2%

CAPITAL EXPENDITURES

Capital Expenditures (USD million) Major expenditures

Capex Breakdown

9M09 9M10

• Port Terminals: civil works for Tecon RG (50m inflexion)and purchase of other equipment across the business(STS, RTGs and MHC);

• Towage: fleet renewal and expansion (2 tugboatsdelivered by 30 September 2010)

• Offshore: fleet expansion (3 vessels were delivered in2010)

• Logistics: equipment for new client in-house operations ,such as fork-lifts and tractors.

14

29%

27%

20%

21% 1% 2%

Port Terminals Towage Offshore Logistics Shipyard Shipping Agency Corporate

115.9

97.1

9M09 9M10

-16%

38.136.4

3Q09 3Q10

-4%

CASH POSITION & DEBT PROFILE

Leverage Indicators (USD million)

Debt Currency ProfileDebt Source Profile

15

Debt maturity profile

290.2

- 145.7

144.5

Total Debt Cash and Equivalents

Net Debt

78%

22%

FMM Others

91%

9%

Long Term

Short Term

85%

15%

USD BRL

INVESTOR RELATIONS CONTACTS

Felipe Gutterres

CFO of the Brazilian Subsidiary, Legal Representative and Investor [email protected]

Phone: + 55 (21) 2126-4122

Michael Connell

Investor [email protected]

Phone: + 55 (21) 2126-4107

IR website: www.wilsonsons.com.br/irTwitter: @WilsonSonsIR

BM&F Bovespa: WSON11

Bloomberg: WSON11 BZ

Reuters: WSON11.SA

Eduardo Valença

Investor [email protected]

Phone: + 55 (21) 2126-4105

Guilherme Nahuz

Investor [email protected]

Phone: + 55 (21) 2126-4263

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