presentation 2 q07

Conference Call and Webcast

August 2007

2

Legal Advice

This presentation may include forward-looking statements about future events or resultsin accordance with Brazilian and international regulations governing stock markets. Such statements are based on assumptions and analyses made by the Company basedon its experience and the economic climate and on market conditions and expectedfuture events. many of which are beyond the Company’s control. Important factorswhich can lead to significant differences between real results and these forward-lookingstatements include the Company's business strategy. national and internationaleconomic conditions. technology. financial strategies. developments in the fertilizerindustry. financial market conditions. uncertainty regarding the results of the Company’s future operations. plans. objectives. expectations. intentions. and other factorsdescribed in "Risk Factors" in the Preliminary Prospectus filed with the BrazilianSecurities Commission. Because of these factors. the real results of the Company maydiffer substantially from those expressed or implied in forward-looking statements.

3

Consolidated

12.1%

8.8

18.8%

13.8

14.6%

10.6

73.1

2Q06

9.2%

9.2

16.1%

16.1

12.0%

12.0

100.1

2Q07

-2.8pp

4.8%

-2.7pp

17.3%

-2.6pp

12.8%

36.9%

Chg (%)

11.6%

21.2

19.3%

35.3

14.8%

27.0

182.7

1H07

11.3%

17.0

19.2%

28.9

16.1%

24.1

150.3

1H06

0.3ppNet Margin (%)

24.9%Profit for the Period

0.1ppEBITDA Margin (%)

22.3%EBITDA (US$ MM)

-1.3ppOperational Margin (%)

11.9%Operating Profit (US$ MM)

21.6%Revenues (US$ MM)

Chg (%)

4

Port Terminals

REVENUES (US$MM)REVENUES (US$MM)

EBITDA (US$MM) & EBITDA MARGIN (%)EBITDA (US$MM) & EBITDA MARGIN (%)

OPERATIONAL INDICATORSOPERATIONAL INDICATORS

TEUs TEUs ((‘‘000)000)Chg. =2.4%

Chg. =38.1%

Chg. =65.3%

Chg. =26.2%

Chg. =0.9%

Chg. =46.2%

117118

83 60

4652

190169

1H06 1H07

61 66

90 101

44 31

2327

2Q06 2Q07Full Container Deep SeaEmpty Container Deep SeaCabotageOthers

219 224416 420

Revenues (US$ MM) & Revenues (US$ MM) & BrascoBrasco Participation (%)Participation (%)

1H06 1H072Q06 2Q07

34.1

37.23.6%

10.7%

3.7%

10.2%

18.5

19.4

26.7

36.9

2Q06 2Q07

53.0

66.9

1H06 1H07

11.6

7.0

31.5%

26.4%

2Q06 2Q07

21.1

14.4

31.6%

27.3%

1H06 1H07

51H06 1H07

Towage


# # ManoeuvresManoeuvres



Chg. =-4.2%

Chg. =31.7%

Chg. =53.7%

14,047 13,458

2Q06 2Q07

27,76328,545

1H06 1H07

Chg. =-2.7%

Chg. =22.9%

Chg. =26.2%

2Q06 2Q07

5.7%

1.2%

26.8

35.4

4.7%

0.9%

52.6

64.6

Revenues (US$ MM) & Special Operations Revenues (US$ MM) & Special Operations Participation (%)Participation (%)

26.8

35.4

2Q06 2Q07

52.6

64.6

1H06 1H07

10.7

6.9

30.2%

25.8%

2Q06 2Q07

21.0

16.6

32.5%

31.6%

1H06 1H07

6

Logistics




# Containers Transported# Containers Transported

# Operations# Operations

15,786 16,806

2Q06 2Q07

20

24

2Q06 2Q07

Chg. =6.5%

Chg. =20.0%

Chg. =28.2%

Chg. =74.6%

29,802 31,928

1H06 1H07

Chg. =7.1%

20

24

1H06 1H07

Chg. =20.0%

Chg. =32.3%

Chg. =42.2%

1.0

0.5

6.6%

4.8%

2Q06 2Q07

2.1

1.4

7.0%

6.5%

1H06 1H07

11.3

14.5

2Q06 2Q07

22.1

29.3

1H06 1H07

7

6.25.2

2Q06 2Q07

10.6 9.8

1H06 1H07

Ship Agency

Bills of Lading Issued (Bills of Lading Issued (‘‘000)000)

Containers Controlled (Containers Controlled (‘‘000)000)




Vessel Calls (Vessel Calls (‘‘000)000)

1.6 1.3

2Q06 2Q07

Chg. =-20.3%

26.226.5

2Q06 2Q07

46.3

50.8

2Q06 2Q07

Chg. =1.4%

Chg. =9.7%

Chg. =-16.3%

Chg. =4.3%

3.2 2.7

1H06 1H07

Chg. =-15.9%

50.252.9

1H06 1H07

Chg. =5.4%

89.1

101.6

1H06 1H07

Chg. =14.0%

Chg. =-7.5%

Chg. =11.1%

1.8

1.9

28.9%

36.0%

2Q06 2Q07

3.1

3.5

29.5%

35.4%

1H06 1H07

8

Offshore




## PSVsPSVs

Days of OperationDays of Operation

2

3

2Q06 2Q07

1.9

2.8

2Q06 2Q07

183

254

2Q06 2Q07

Chg. =50.0%

Chg. =38.6%

Chg. =45.2%

Chg. =78.5%

2

3

1H06 1H07

Chg. =50.0%

4.8 4.6

1H06 1H07

Chg. =-3.0%

363

434

1H06 1H07

Chg. =19.5%

Chg. =60.8%

0.9

0.5

31.3%

25.4%

2Q06 2Q07

1.1

1.722.2%

36.7%

1H06 1H07

9

Non-Segmented Activities - EBITDA

2Q07 (US$MM)2Q07 (US$MM) 1H07 (US$MM)1H07 (US$MM)

-3.1

-9.9-10.2

-3.1

-9.9-0.1

-0.8

-1.4

-3.1

-1.1

0.0

-0.7 -0.3

2Q06

EB

ITD

A

Dep

reci

atio

n

2Q06

Ope

ratin

g Pr

ofit

Prof

it on

Dis

posa

l of j

oint

ven

ture

Rel

ease

of s

urpl

us o

n ac

quis

ition

of i

nter

est i

nsu

bsid

iary

Hig

her B

onus

es P

aid

to E

mpl

oyee

s

Third

Par

ties S

ervi

ces S

hipy

ard

Red

uctio

n on

Dra

gapo

rt's R

esul

ts

Oth

ers

2Q07

Ope

ratin

g Pr

ofit

Dep

reci

atio

n

2Q07

EB

ITD

A

-14.0

-5.2

-7.8

-14.5

-2.2

-3.1-2.8

-0.4

-0.7

-0.2

-1.4

-0.8-1.4

1H06

EB

ITD

A

Loss

on

Dis

posa

l of I

nves

tmen

t

Dep

reci

atio

n

1H06

Ope

ratin

g Pr

ofit

Prof

it on

Dis

posa

l of j

oint

ven

ture

Rel

ease

of S

urpl

us o

n A

cqui

sitio

n of

Inte

rest

insu

bsid

iary

Hig

her B

onus

es P

aid

to E

mpl

oyee

s

Third

Par

ties

Serv

ices

Shi

pyar

d

Red

uctio

n on

Dra

gapo

rt's

Res

ults

Oth

ers

1H07

Ope

ratin

g Pr

ofit

Dep

reci

atio

n

1H07

EB

ITD

A

+0.3

+0.1

+0.2

+0.4

10

28.924.4 23.0 23.0 25.8

35.3

2.81.41.4

3.1

19.3%17.2%

19.2%

1H

06

Pro

fit

on

Dis

posa

l of

join

tventu

re

Rele

ase

of

Surp

lus

on

Acq

uis

itio

nof

Inte

rest

Thir

dPart

ies

Serv

ices

-Ship

yard

Loss

on

Dis

posa

l of

Invest

ment

Adju

sted

2H

06

1H

07

13.89.3 9.3

16.1

1.43.1

16.1%

12.7%

18.8%

2Q

06

Pro

fit

on

Dis

posa

l of

join

tventu

re

Thir

dPart

ies

Serv

ices

-Ship

yard

Adju

sted

2Q

06

2Q

07

Revenues, EBITDA & EBITDA Margin

REVENUES (US$MM)REVENUES (US$MM) EBITDA (US$MM) & EBITDA MARGIN (%)EBITDA (US$MM) & EBITDA MARGIN (%)

73.1

100.1

2Q06 2Q07

16.113.8

16.1%

18.8%

2Q06 2Q07

Chg. =17.3%Chg. =36.9%

150.3

182.7

1H06 1H07

Chg. =21.6%

35.3

28.9

19.3%19.2%

1H06 1H07

Chg. =22.3%

ADJUSTED EBITDA (US$MM) & ADJUSTED EBITDA MARGIN (%)ADJUSTED EBITDA (US$MM) & ADJUSTED EBITDA MARGIN (%)

Chg. =73.1% Chg. =36,8%

11

Profit for the Period – Quarter

8.8

27.0

3.1

5.7

2.2 8.2

1.015.4

0.01.5 2.4

9.2

2Q

06 P

rofit

for

the

Peri

od

Pro

fit

on d

isposa

l of

join

t ventu

re

Adju

sted N

et

Pro

fit

Revenues

Raw

mate

rials

and

consu

mable

s use

d

Pers

onnel expense

s

Depre

ciation &

am

ort

ization

Oth

er

opera

ting

expense

s

Pro

fit

on d

isposa

l of

pro

pert

y p

lant

and

equip

ment

Net

financi

al re

sults

Inco

me t

ax e

xpense

2Q

07 P

rofit

for

the

Peri

od

CAGR 61,4%

Non-RecurringResults

US$ MM

12

Profit for the Period – Half Year

17.021.2

2.8

2.8

1.40.4

14.70.8

11.11.132.4

15.3

3.11.4

1H

06 P

rofit

for

the P

eri

od

Rele

ase

of

surp

lus

on a

cquis

itio

n o

fin

tere

st in s

ubsi

dia

ry

Pro

fit

on d

isposa

l of

join

t ventu

re

Loss

on d

isposa

l of

invest

ment

Adju

sted N

et

Pro

fit

1H

06

Revenues

Raw

mate

rials

and c

onsu

mable

s use

d

Pers

onnel expense

s

Depre

ciation &

am

ort

ization e

xpense

Oth

er

opera

ting e

xpense

s

Pro

fit

on d

isposa

l of

pro

pert

y p

lant

and

equip

ment

Net

financi

al pro

fit

Inco

me t

ax e

xpense

1H

07 P

rofit

for

the P

eri

od

CAGR 38,6%

US$ MM

Non-RecurringResults

13

18.7

27.2

1H06 1H07

11.1

14.1

2Q06 2Q07

11.1

0.1

6.6

0.1

0.0

0.7

3.6

2Q06

14.1

0.2

3.8

0.4

0.4

5.5

3.8

2Q07

27.2

0.5

9.2

0.4

0.4

7.9

8.7

1H07

18.7

0.2

8.1

0.2

0.1

2.1

7.9

1H06

Wilson Sons

Non-Segmented Activities

Offshore

Ship Agency

Logistics

Towage

Port Terminal

CAPEX (US$MM)CAPEX (US$MM) LEVERAGELEVERAGE

CURRENCY BREAKDOWNCURRENCY BREAKDOWN

CAPEX BREAKDOWN (US$ MM) CAPEX BREAKDOWN (US$ MM)

Total Debt

R$ Denominated

US$ Denominated

LEVERAGE INDICATORSLEVERAGE INDICATORS

CAPEX EVOLUTION (US$ MM)CAPEX EVOLUTION (US$ MM)

Net Debt

Cash & Equivalents

Total Debt

Long Term

Short Term

Consistent Investment & Low Leverage Ratios

110.2

0.8

109.9 109.9

1.1

111.0

55.6

(54.6)

110.2

95.2

14.9

111.0

95.5

15.5

124.9

1.2

123.6

(50.9)

(175.7)

124.9

108.8

16.1

61.3

(49.7)

(US$ MM) 2006/12/31 2007/03/31 2007/06/30

(US$ MM) 2006/12/31 2007/03/31 2007/06/30Chg. =27.5% Chg. =45.4%

14

Investor Relations

Felipe Gutterres – Finance and IR Director

Tel: 55(21)2126-4222

Sandra Calçado – Investor Relations Manager

Tel: 55(21) 2126-4106

BOVESPA: WSON11

Bloomberg: WSON11 BZ

Reuters: WSON11.SA

www.wilsonsons.com/ir [email protected]

presentation 2 q07

Business