OCEAN WILSONS HOLDINGS LIMITED I N T E R I M R E P O R T 2 0 2 3
SECTION ONE - Chair's Statement
About Ocean Wilsons Holdings Limited
Ocean Wilsons Holdings Limited ("Ocean Wilsons" or the "Company") is a Bermuda investment holding company which, through its subsidiaries, holds a portfolio of international investments and operates a maritime services company in Brazil. The Company is listed on both the London Stock Exchange and the Bermuda Stock Exchange.
Principal Activities
The Company's principal activities are the management of a diverse global investment portfolio and the provision of maritime and logistics services in Brazil.
Ocean Wilsons has two operating subsidiaries: Ocean Wilsons (Investments) Limited ("OWIL") and Wilson Sons S.A. ("Wilson Sons") (together with the Company and their subsidiaries, the "Group").
The Company owns 57% of Wilson Sons which is fully consolidated in the financial statements with a 43% non-controlling interest. Wilson Sons is one of the largest providers of maritime services in Brazil with activities including towage, container terminals, offshore oil and gas support services, small vessel construction, logistics and ship agency.
Objective
The Company's objective is to focus on long-term value creation through both the investment portfolio and the investment in Wilson Sons. This longer-term view directs an OWIL investment strategy of a balanced thematic portfolio of funds leveraging our long-standing investment market relationships and through detailed insights and analysis. The Wilson Sons' strategy focuses on providing best in class or innovative solutions in a rapidly growing maritime logistics market.
2 Ocean Wilsons Holdings Limited - Annual Report 2022
Contents
02 Data Highlights
03 Strategic Report
S E C T I O N O N E
04 Chair's Statement
05 Investment Manager's Report
- Wilson Sons' Management Report
- Financial Report
10 | Interim Consolidated |
Financial Statements |
S E C T I O N T W O
- Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income
- Interim Consolidated Statement of Financial Position
- Interim Consolidated Statement of Changes in Equity
- Interim Consolidated Statement of Cash Flow
- Notes to the Interim Consolidated Financial Statements
32 Directory
1
Data Highlights
KEY OPERATING DATA (in US$ millions)
6 months ended | 6 months ended | ||
30 June 2023 | 30 June 2022 | Change | |
Revenue | 229.7 | 211.0 | +18.7 |
Operating profit | 54.7 | 54.7 | - |
Investment portfolio net return | 11.2 | (50.5) | +61.7 |
Profit/(loss) after tax | 47.9 | (20.4) | +68.3 |
Net cash inflow from operating activities | 44.3 | 24.7 | +19.6 |
KEY FINANCIAL POSITION DATA (in US$ millions)
At 30 June 2023 | At 31 December 2022 | Change | |
Investment portfolio assets | 299.6 | 293.8 | +5.8 |
Net assets | 773.9 | 754.1 | +19.8 |
Net debt | 525.9 | 442.3 | +83.6 |
SHARE DATA
6 months ended | 6 months ended | ||
30 June 2023 | 30 June 2022 | Change | |
Proposed/Actual dividend per share (USD) | 70 cents | 70 cents | - |
Earnings per share (USD) | 86.2 cents | (98.0) cents | +184.2 cents |
At 30 June 2023 | At 31 December 2022 | Change | |
Share price discount to net asset value | 56.55% | 50.50% | +6.05% |
Implied net asset value per share* (GBP) | 22.10 | 18.78 | +3.32 |
Share price (GBP) | 9.60 | 9.30 | +0.30 |
*net asset value per share of Ocean Wilsons based on the market value of each operating subsidiary
2 Ocean Wilsons Holdings Limited - Annual Report 2022
S E C T I O N O N E
Strategic Report
Attachments
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Disclaimer
Ocean Wilsons Holdings Ltd. published this content on 09 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2023 15:03:26 UTC.
