Ocean Wilsons Holdings (OCN)

Business description

Ocean Wilsons Holdings is a holding company with a controlling 58.25% stake in Wilson Sons, a listed Brazilian maritime and logistics business. It also has an investment division (OWIL), with a diversified portfolio of equities, bonds and other assets.

Stock data

Market cap.£371.3m
Last close1,050.00p
High / Low (52 weeks)1115.0p / 882.5p
Stock market listingLN
Forecast net debt (US$m)282
Forecast gearing ratio (%)35
TeamInvestment Companies
SectorInvestment Companies

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Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 633.5 154.2 78.5 65.6 20.7 3.2
2015A 508.9 164.3 68.9 43.7 31.1 2.6
2016E 463.6 147.0 120.2 118.4 11.5 3.1
2017E 477.7 162.4 118.0 114.4 11.9 2.9

Last updated on 16/05/2017

Investment summary

Ocean Wilsons (OCN) is an investment holding company with a controlling interest in Wilson Sons (WSON), a long-established maritime services company in Brazil, and a globally diversified investment portfolio. Both are managed with a long-term perspective. Wilson Sons’ Q117 results were further evidence of the resilience of this business in the face of the Brazilian economic recession and, while the near-term outlook is uncertain, recent investment in the business and extension of the Salvador container terminal concession help to position the business well for the future.

Last updated on 13/06/2017

Industry outlook

OCN’s control of Wilson Sons gives it exposure to three growth drivers: international trade flows, the oil and gas industry and the domestic Brazilian economy. OCN also manages a portfolio of international investments, with a long-term outlook and a bias towards global and emerging market equities.

Last updated on 01/06/2017

Key management

Keith Middleton, FD

Company address

Richmond House 5th Floor
12 Par-la-Ville Road
2250 PO Box HM
Hamilton
HM JX
Bermuda
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