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Edison issues flash on Ocean Wilsons Holdings (OCN): Strong FY23 resul...
Edison Investment Research Limited Edison issues flash on Ocean Wilsons Holdings (OCN): Strong FY23 results with strategic review in FY24 26-March-2024 / 08:32 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 26 March 2024 Edison issues flash on Ocean Wilsons Holdings (OCN): Strong FY23 results with strategic review in FY24 Ocean Wilsons Holdings’ (OCN’s) FY23 results highlight a robust performance from the Brazilian subsidiary Wilson Sons, as well as growth from the investment portfolio. Our forecasts are under review following t...
- Pedro Fonseca
Ocean Wilsons Holdings - Strong FY23 results with strategic review in ...
Ocean Wilsons Holdings’ (OCN’s) FY23 results highlight a robust performance from the Brazilian subsidiary Wilson Sons, as well as growth from the investment portfolio. Our forecasts are under review following the announcement but, prior to this, we valued OCN at 2,564p/share, which implies it is currently trading at a 48% discount. Given the strong trading and optimistic outlook, risks appear to be to the upside.
Edison issues update on Ocean Wilsons Holdings (OCN): Strategic option...
Edison Investment Research Limited Edison issues update on Ocean Wilsons Holdings (OCN): Strategic options being considered 02-Feb-2024 / 12:18 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 2 February 2024 Edison issues update on Ocean Wilsons Holdings (OCN): Strategic options being considered Ocean Wilsons Holdings’ (OCN’s) strategic review remains ongoing. Despite the review and the potential for value realisation, OCN still trades at a c 51% discount to its value, which we believe is 2,564p. To value OCN we have taken the l...
- Pedro Fonseca
Ocean Wilsons Holdings Limited: 1 director
A director at Ocean Wilsons Holdings Limited bought 7,000 shares at 948p and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ye...
- Pedro Fonseca
Ocean Wilsons Holdings - Adverse financial markets but PORT3 is doing ...
Ocean Wilsons (OCN) reported in its Q322 trading update that its investment portfolio’s (OWIL’s) NAV had declined by 19.5% year to date due to the current difficult financial markets (eg the MSCI World Index fell by 25%). However, Wilson Sons (PORT3), the listed Brazilian maritime company in which OCN has a controlling 57% stake, saw its quarterly PBT grow 20% y o y in US dollar terms. The towage and offshore vessels divisions (two of PORT3’s three key divisions) continue to have positive operat...
- Pedro Fonseca
Ocean Wilsons Holdings - Hit by markets, valuation eye-catching
Ocean Wilsons (OCN) reported a H122 loss of $34.7m (H121 profit of $39.5m), chiefly due to weak financial markets which led OCN’s international investment portfolio (OWIL) to report a $48.9m loss. Despite headwinds in the container terminal business, some good operating trends allowed Wilson Sons (PORT3) to boost OCN’s H122 revenue by 12% y-o-y and EBITDA by 2%. We are cutting our forecasts for FY22e (to a $14.8m net loss) and FY23e (22% EPS reduction). OCN is trading at 50% of the look-through ...
Ocean Wilson Holdings (OCN): FY21 was in line but headwinds remain
Edison Investment Research Limited Ocean Wilson Holdings (OCN): FY21 was in line but headwinds remain 13-May-2022 / 07:00 GMT/BST London, UK, 13 May 2022 Ocean Wilson Holdings (OCN): FY21 was in line but headwinds remain Ocean Wilsons (OCN) is an investment holding company with a controlling interest in Wilson Sons (WSON), a long-established Brazilian maritime services company, and a globally diversified investment portfolio (OWIL). OCN reported FY21 PBT of US$110.4m (+48% y-o-y), in line with our forecasts. OWIL had a good year, but WSON’s results were a mixed bag. The cont...
- Pedro Fonseca
Ocean Wilsons Holdings - FY21 was in line but headwinds remain
Ocean Wilsons (OCN) is an investment holding company with a controlling interest in Wilson Sons (WSON), a long-established Brazilian maritime services company, and a globally diversified investment portfolio (OWIL). OCN reported FY21 PBT of US$110.4m (+48% y-o-y), in line with our forecasts. OWIL had a good year, but WSON’s results were a mixed bag. The container terminal business is still suffering from worldwide supply bottlenecks, whereas the towage business did better than expected. Looking ...
- Pedro Fonseca
Ocean Wilsons Holdings - Operations and markets drive good H121
Ocean Wilsons (OCN) reported PBT of $66.2m in H121 versus a loss of $1.8m in H120. Buoyant financial markets have allowed OCN’s global investment portfolio (OWIL) to swing from a loss in H120 to a strong performance. At the same time, OCN’s EBITDA grew 13% y-o-y to $79.6m and its operating profit by 23% as Wilson Sons’ (WSON) results improved as expected from recovering business levels and firmer prices. We have made some adjustments to our forecasts on the back of the results. We have kept EPS ...
- Pedro Fonseca
Ocean Wilsons Holdings - Operations and markets drive good H121
Ocean Wilsons (OCN) reported PBT of $66.2m in H121 versus a loss of $1.8m in H120. Buoyant financial markets have allowed OCN’s global investment portfolio (OWIL) to swing from a loss in H120 to a strong performance. At the same time, OCN’s EBITDA grew 13% y-o-y to $79.6m and its operating profit by 23% as Wilson Sons’ (WSON) results improved as expected from recovering business levels and firmer prices. We have made some adjustments to our forecasts on the back of the results. We have kept EPS ...
Ocean Wilson Holdings (OCN): Smoother sailing ahead
Edison Investment Research Limited Ocean Wilson Holdings (OCN): Smoother sailing ahead 22-Jun-2021 / 07:00 GMT/BST London, UK, 22 June 2021 Ocean Wilson Holdings (OCN): Smoother sailing ahead The COVID-19 pandemic has been tough on Brazil but OCN has weathered it well with a respectable 5.1% ROE in 2020 and maintained its 70c (4.3%) dividend. Business volumes fell in Wilson Sons (WSON), its Brazilian maritime services company, but prices firmed up and allowed WSON to post a 4.3% ROE. OCN's international investment portfolio (OWIL) had a good year in 2020 with favourable if c...
- Pedro Fonseca
Ocean Wilsons Holdings - Smoother sailing ahead
The COVID-19 pandemic has been tough on Brazil but OCN has weathered it well with a respectable 5.1% ROE in 2020 and maintained its 70c (4.3%) dividend. Business volumes fell in Wilson Sons (WSON), its Brazilian maritime services company, but prices firmed up and allowed WSON to post a 4.3% ROE. OCN’s international investment portfolio (OWIL) had a good year in 2020 with favourable if choppy markets. Business is now picking up in WSON’s key container terminals and tugboat business and a recovery...
- Pedro Fonseca
Ocean Wilsons Holdings - Sailing against the wind
We forecast Wilson Sons’ (WSON’s) EBITDA to fall 6% y-o-y this year, still affected by the sluggish Brazilian economy and a tough competitive environment, before rebounding 10% in 2020. However, our Ocean Wilsons (OCN) 2019 forecasts are boosted by good returns in the investment portfolio. The business continues to benefit from the stabilising effect of the diversification of earnings by activity and currency and ownership of its international investment portfolio (OWIL). The current 42% dis...
- Pedro Fonseca
Ocean Wilsons Holdings - Sailing against the wind
We forecast Wilson Sons’ (WSON’s) EBITDA to fall 6% y-o-y this year, still affected by the sluggish Brazilian economy and a tough competitive environment, before rebounding 10% in 2020. However, our Ocean Wilsons (OCN) 2019 forecasts are boosted by good returns in the investment portfolio. The business continues to benefit from the stabilising effect of the diversification of earnings by activity and currency and ownership of its international investment portfolio (OWIL). The current 42% dis...
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