Wilson Sons (PORT3) Q1 2025 earnings summary

Executive summary

• Achieved record consolidated results in 1Q25, with EBITDA up 29.8% to R$366.4 million and revenues up 19.7% to R$767.3 million, driven by strong container terminal and towage performance.

• Interim dividend of R$0.29/share (R$125.9 million) declared, payable by May 19, 2025.

• Workplace safety outperformed global benchmarks, with 0.28 lost-time accidents per million hours.

• Change of control transaction with MSC subsidiary is pending final regulatory approval, expected to close in 2Q25.

• Maintained focus on safety, operational excellence, and disciplined capital allocation.

Financial highlights

• Net revenues rose 19.7% year-over-year to R$767.3 million; EBITDA increased 29.8% to R$366.4 million; net profit surged 84.9% to R$194.6 million.

• EBITDA margin increased 3.8pp to 47.8%; net margin up 9.0pp to 25.4%.

• Operating cash flow reached R$324.4 million (+48.6% y/y); free cash flow was R$259.1 million (+61.7% y/y).

• Capex totaled R$65.7 million, mainly for container terminal equipment.

• Ended the quarter with R$572 million in cash and cash equivalents.

Segment performance

• Container terminals: Revenues up 14.7% to R$291.5 million; EBITDA up 12.1%; aggregate volumes up 24.5%.

• Towage: Revenues up 23.7% to R$368.1 million; EBITDA up 33.7%; harbor maneuvers up 4.1%.

• Offshore support vessel JV: Revenues up 19.8% to R$177.1 million; EBITDA up 17.2%; profit up 505.8% y/y due to exchange gains.

• Logistics: Revenues up 30.5% y/y; EBITDA up 91.9% y/y, driven by higher volumes.

• Offshore support bases: Revenues up 26.7% y/y; EBITDA up 41.7% y/y.