Ocean Wilsons Holdings (OCN): Q3 update; revenue decreases $15.3m to $114.1m

Published on 12-11-2018 10:02:41
Author Sparks Team

In its results for Q3 ended September 2018, Ocean Wilsons reported a $15.3m decrease in revenue to $114.1m from $129.4m in 2017 due to a higher average USD/BRL exchange rate (25% higher at 3.95) and lower towage and ship agency revenue (23% lower at $43.2m).

Wilson Sons’ EBITDA was $45.8m, 5% lower than $47.9m in 2017. The investment portfolio including cash under management decreased slightly to $265.3m from the previous quarter’s $272.5m.

Cezar Baião, CEO of operations in Brazil, commented: “Wilson Sons reports Q3 2018 EBITDA of $45.8m, a decrease of 4.5% in US dollar terms, but an increase of 19.5% in BRL terms. Solid growth in both container terminals reflecting fledging economic recovery. Tecon Salvador commenced preparations to start civil works for the quay extension after receiving all licensing approvals. Towage volumes and prices constrained by a more intense market competition.”

In its results for Q3 ended September 2018, Ocean Wilsons reported a $15.3m decrease in revenue to $114.1m from $129.4m in 2017 due to a higher average USD/BRL exchange rate (25% higher at 3.95) and lower towage and ship agency revenue (23% lower at $43.2m).

Wilson Sons’ EBITDA was $45.8m, 5% lower than $47.9m in 2017. The investment portfolio including cash under management decreased slightly to $265.3m from the previous quarter’s $272.5m.

Cezar Baião, CEO of operations in Brazil, commented: “Wilson Sons reports Q3 2018 EBITDA of $45.8m, a decrease of 4.5% in US dollar terms, but an increase of 19.5% in BRL terms. Solid growth in both container terminals reflecting fledging economic recovery. Tecon Salvador commenced preparations to start civil works for the quay extension after receiving all licensing approvals. Towage volumes and prices constrained by a more intense market competition.”

Share this with friends and colleagues

Company list