Wilson Sons S.A. (PORT3) Earnings Call Transcript & Summary

Good morning, everyone, and welcome to Wilson Sons Earnings Conference Call relative to the third quarter of 2025. Joining us today are Mr. Arnaldo Calbucci, the CEO; and Mr. Pedro Rocha, IRO. We'd like to inform you that this conference call is being recorded. [Operator Instructions] To download the slide deck, please click on the link that can be found in the chat window. [Operator Instructions] All financial figures are presented in Brazilian real and prepared in accordance with IFRS standards, unless otherwise stated. On Slide 2, you will find the usual disclaimer notes regarding forward-looking statements. I now turn the conference over to Mr. Rocha. Please, sir, you may carry on.

Thank you. Good morning, everyone. Thank you for joining our earnings call once again. Let's start on Slide #4, if you will, an update on our tender offer, public offer as announced before on October 23, the auction of the public tender offer launched by SAS was finalized, our controlling company shareholder. The objective was to delist the company. As a result, SAS now holds about 98% of Wilson Sons' share capital, leaving around about 10.4 million shares still out in circulation outstanding. Given that the free float now accounts for less than 5% of the company's total shares, a special general meeting for the shareholders has been called for November 13 in order to approve the squeeze-out of the remaining shares. Minority shareholders may still sell their shares to SAS through the so-called subsequent acquisitions within 3 months of the auction date, in other words, until January 23, 2026, or until the squeeze-out approval, whichever happens first. The price per share will be the same as paid in the auction, adjusted by the SELIC rate up to the settlement date. Sales proposals will be processed on a weekly basis and payment will be made on the following Friday. After the shareholders' meeting on November 13, we'll provide further details on the mandatory squeeze-out process, whose financial settlement we will have to occur within 15 days following the approval. Now let's turn to Slide #6, if you will. Now we have a summary of our consolidated figures for the period. In Q3, net revenue for the company grew by 5%, reaching BRL 809 million, mainly driven by the strong operating performance of the Container Terminal and Towage segments. For the 9-month period, revenues grew by 12%. EBITDA was flat year-on-year, turning out at BRL 397 million, which reflects certain nonrecurring effects, which affected the comparison basis. For the 9-month period, EBITDA increased by 17%. Net profit for the quarter amounted to BRL 197 million, down 9% from the same period of last year, also affected by the same nonrecurring effects seen in the EBITDA line. Year-to-date, however, net profit went up by 53%. This concludes our presentation. We'll now open the floor for Q&A. Thank you.

Ladies and gentlemen, we'll now begin our Q&A session. [Operator Instructions] This concludes the Wilson Sons conference call. Thank you all for your participation, and have a nice day, everyone. Thank you. [Statements in English on this transcript were spoken by an interpreter present on the live call.]