Main menu
Edison Group
  • Home
  • Equities

    Equities

    View All Equities

    Equities by Sector

    Pharnext

    MCap

    1m

    Last close

    EUR0.10

    ▲ 0.03 (42.86%)

    MGI – Media and Games Invest

    MCap

    EUR235m

    Last close

    EUR1.50

    ▲ 0.35 (30.21%)

    OpGen

    MCap

    USD7m

    Last close

    USD0.49

    ▲ 0.08 (18.58%)

  • Sectors

    Sectors

  • Investment Strategy

    Investment Strategy

    View All

    Latest

  • Thematics

    Thematics

    View All Thematics

    Latest

  • Audiovisual

    Audiovisual

    View All Audiovisual

    Latest

Ocean Wilsons Holdings (LSE: OCN)

Last close As at 04/05/2024

GBP13.65

▲ −35.00 (−2.50%)

Market capitalisation

GBP483m

Ocean Wilsons Holdings is an investment company based in Bermuda. It has a controlling shareholding in Wilson Sons, a quoted maritime services company in Brazil, and holds a portfolio of international investments.

Wilson Sons’ good spread of assets in Brazil allowed it to weather reasonably well the exceptional conditions in FY20, FY21 and FY22. Its assets include large, competitive container terminals in two Brazilian ports and the country’s largest maritime tugboat business. Looking ahead, spare capacity in various PORT3 businesses means there is significant positive operating leverage as business picks up.

Latest Insights

View More

Investment Companies | Flash note

Ocean Wilsons Holdings — Strong FY23 results with strategic review in FY24

Investment Companies | Update

Ocean Wilsons Holdings — Strategic options being considered

Investment Companies | Flash note

Ocean Wilsons Holdings — Adverse financial markets but PORT3 is doing well

Investment Companies | Update

Ocean Wilsons Holdings — Hit by markets, valuation eye-catching
Visit Website

Equity Analyst

Andy Murphy

Andy Murphy

Director, Financials & Industrials

Key Management

  • Leslie Rans

    CFO

Balance Sheet

Forecast net debt (US$m)

244.5

Forecast gearing ratio (%)

28

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (3.5) (3.2) 52.7
Relative (6.2) (9.4) 45.5
52 week high/low 1430.0p/820.0p

Overview

Ocean Wilsons Holdings’ (OCN’s) FY23 results highlighted a robust performance from the Brazilian subsidiary Wilson Sons, as well as growth from the investment portfolio. Our forecasts are under review following the announcement but, prior to this, we valued OCN at 2,564p/share, which implies it is currently trading at a 48% discount. Given the strong trading and optimistic outlook, risks appear to be to the upside. The strategic review remains ongoing.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 440.1 178.6 38.5 (51.88) N/A 7.8
2023A 486.6 197.8 131.0 190.46 8.8 3.4
2024E 521.7 214.8 135.4 214.42 7.9 3.2
2025E 584.0 239.2 165.1 271.19 6.2 2.9

Outlook

Investment Companies

Ocean Wilsons Holdings — Update 9 June 2016