Wilson Sons’ profits grow 92% in 3Q22, totaling R$ 226 million in the year

Wilson Sons posted a net income of R$67 million (US$13 million) in the third quarter of this year (3Q22), 92% higher than in 2021 (3Q21). In the first nine months of 2022 (9M22), the company’s net income was R$ 226 million (US$ 44 million), showing a growth of 24% compared to the same period last year and surpassing the net result recorded in the twelve months of 2021. In turn, the company’s net revenue grew 8% over the first nine months of 2021 (9M21), totaling R$ 1.7 billion (US$ 329 million) in 2022.

Wilson Sons released its financial results this Wednesday (11/9) after the close of trading at B3 S.A., the Brazilian stock exchange.

The company’s results in the third quarter reflect the good performance of the tugboat and international logistics business (Allink). Tugboat revenues grew 15% with an increase in operating activity and average revenue per maneuver. At Allink, the result benefited from the growth in demand and the increase in revenues from shipowners and terminals.

In 9M22, EBITDA (earnings before interest, taxes, depreciation, and amortization) reached R$688 million (US$134 million), 3% higher than in 9M21, with resilient results from the tugboat and logistics divisions. In dollar terms, accumulated EBITDA grew 7% compared to the previous year. In the case of container terminals, the situation has improved slightly but remains challenging due to global logistical bottlenecks that force ship calls to be omitted.

On Tuesday (11/8), Wilson Sons released its operational data for October 2022. In the offshore support bases division, moorings grew 30% due to the start of a new contract and increased spot activities.

In tugs, port maneuvers increased by 1%, with more ships carrying loose general cargo (mainly pulp) and containers.

The volumes at container terminals continue to be impacted by the shortage of empty containers and global logistical bottlenecks. On the other hand, at Tecon Rio Grande, inland navigation grew 14%, cabotage rose 7%, and the terminal received 33 ships (against 28 vessels in October 2021).

At Tecon Salvador, transshipment and removal increased by 24%, mainly due to cargo from Saudi Arabia, Pecém, and Turkey and volumes destined for Manaus, Colombia, and Pecém. In the period, the terminal received 44 ships against 40 vessels in October 2021.

Sharing is caring!