Ocean Wilsons Holdings Limited- Preliminary results for the year ended 31 December 2015

Hamilton, Bermuda – 22 March, 2015 – In a filing with the Bermuda Stock Exchange (“BSX”), Ocean Wilsons Holdings Limited (the “Company” or “Ocean Wilson”; (Ticker: OCN.BH) today announced its preliminary results for the year ended 31 December 2015.  The filing stated:

Highlights

·                     Operating profit growth of 23% to US$109.8 million (2014: US$89.4 million)

·                     Operating margins increased 8% to 22% (2014: 14%)

·                     Net cash inflow from operating activities for the year of US$145.5 million (2014: US$105.6 million)

·                     The Brazilian Real depreciated 47% in the period against the US Dollar at year end and the average US Dollar / Brazilian Real exchange rate in the year at 3.34 was 42% higher than the comparative period in 2014, 2.35

·                     Earnings per share for the year of 43.7 cents (2014: 65.6 cents)

·                     Dividend declared unchanged at 63 cents per share (2014: 63 cents per share)

·                     Investment portfolio decreased US$7.3 million to US$244.4 million (2014: US$251.7 million)

José Francisco Gouvêa Vieira, Chairman of Ocean Wilson’s, commented: “Despite the challenging economic and political environment, the Group has achieved another solid operating performance with strong improvements in both operating profit and cash flow. Operating profit for the year increased by US$20.4 million from US$89.4 million to US$109.8 million due to, higher operating margins which improved from 14% in the prior year to 22% in 2015, principally due to the weaker BRL and a lower depreciation charge. The improved operating profit converted into strong cash generation, with net cash inflows from operating activities for the period of US$145.5 million compared to US$105.6 million in 2014”

For further information:

Company Contact

Keith Middleton                                                                                                         001 441 295 1309

Media

David Haggie                                                                                                            020 7562 4444

Haggie Partners LLP

Cantor Fitzgerald Europe                                                 

Rick Thompson, David Foreman, Will Goode  - Corporate Finance                   020 7894 7000

David Banks - Corporate Broking

About Ocean Wilsons Holdings Limited

Ocean Wilsons Holdings Limited is a Bermuda based investment holding company, which through its subsidiaries, operates a maritime services company in Brazil and holds a portfolio of international investments. The Company is listed on both the Bermuda Stock Exchange and the London Stock Exchange. It has two principal subsidiaries: Wilson Sons Limited and Ocean Wilsons (Investments) Limited (together with the Company and their subsidiaries, the “Group”).

Wilson Sons Limited (“Wilson Sons”) is a Bermuda company listed on the São Paulo Stock Exchange (BOVESPA) and Luxembourg Stock Exchange. Ocean Wilsons holds a 58.25% interest in Wilson Sons, which is fully consolidated in the Group accounts with a 41.75% non-controlling interest. Wilson Sons is one of the largest providers of maritime services in Brazil. Wilson Sons’ activities include harbour and ocean towage, container terminal operation, offshore oil and gas support services, small vessel construction, logistics and ship agency. Wilson Sons has over five thousand employees.

Ocean Wilsons (Investments) Limited is a wholly owned Bermuda investment company. The company holds a portfolio of international investments.

Objective

Ocean Wilsons Holdings Limited is run with a long-term outlook. This applies to both the investment portfolio and our investment in Wilson Sons. The long-term view taken by the Board enables Wilson Sons to grow and develop its businesses without pressure to produce short-term results at the expense of long-term value creation. The same long-term view allows our investment managers to make investment decisions that create long-term capital growth.

The success of this strategy is reflected in the long-term growth in the value of Ocean Wilsons and dividends paid to shareholders. In the 10 years to 31 December 2015, the share price has risen more than 118% from £3.52 to £7.65 and in the same period, the dividend paid to shareholders has increased 163% from 24 cents per share to 63 cents per share.