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Wilson Sons reports strong H1 profits

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Brazil’s Wilson Sons - a leader in port and maritime logistics – has recorded profit of $40.5M in the first half of this year, 23% higher than the same period in 2022. Net revenues totalled $250M in the first six months of this year, advancing 9% over the comparison. EBITDA totalled $102.2M in the first half of this year, 13% higher than the comparative.

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 mainly by a robust volume recovery in the Rio Grande container terminal (RS); and the strong recovery in offshore energy-linked services.

Fernando Salek, company CEO, 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,"

In the first half of this year, container terminal revenues grew 6% with volumes up 7%, and a 1% increase in EBITDA. The Rio Grande terminal reported a 12% increase in overall handling mainly due to a higher number of empty containers, and export, inland navigation, import and transhipment flows. The Salvador terminal registered flat volumes as the increase in empty containers, cabotage and export flows was offset by lower imports and transhipment. 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.