Wallenius Wilhelmsen announces another strong quarter
Oslo 30.10.24. "We are proud to announce the second strongest quarter on record
with adjusted EBITDA of USD 503m," says Lasse Kristoffersen, President and CEO
at Wallenius Wilhelmsen, being confident that EBITDA for 2024 will be somewhat
better than 2023. The company progresses with contract renewals and attractive
financing for newbuilds.
"All business units are performing well, and the activity level is high across
the organization. Year-to-date, all segments have delivered better than in
2023," says Kristoffersen.
EBITDA was USD 471m for the quarter and net profit ended at USD 259m. Of the Q3
adjusted EBITDA, Shipping delivered USD 416m, Logistics USD 47m and Government
USD 49m.
Positive customer commitment
During the quarter the company continued to move forward with contract
negotiations.
"Renewals for contracts expiring in 2024 are progressing well, as evidenced by
the latest announcement of a five-year contract in the H&H segment. We see
strong and increased demand in areas where we have industry leading offerings,
including shipping, logistics, integrated supply chain, digital and reduced
emissions services," says Kristoffersen.
Another strong year
Kristoffersen is confident 2024 will be another strong year. The company
experiences continued strong demand for its services despite short-term
softening sales of auto and heavy equipment globally, which is viewed more as a
temporary softening rather than a structural shift.
"This provides a solid backdrop for our dividend policy and ability to invest in
renewing and growing our business," says Kristoffersen.
Q3 2024 highlights
- Wallenius Wilhelmsen delivers a Q3 adjusted EBITDA of USD 503m
- Shipping and Government segments adjusted EBITDA improved QoQ and YoY
- Logistics declined QoQ mainly due to seasonal effects on volumes and product
mix
- Solid progress in contract renewals, expecting to announce further contracts
before year-end
- Upsized four newbuildings to 11,700 CEU and secured attractive financing for
six Shaper class vessels
- Continued strong demand for shipping and logistics services despite softening
sales signals for auto and H&H equipment
- EBITDA for 2024 will be somewhat better than in 2023
For further information, please contact:
For investor relations:
Anders Redigh Karlsen, VP IR & Market Insight
Tel: +47 994 20 293 Email: anders.karlsen@walwil.com
For media:
David Hopkins, External Communications Manager
Tel: +47 942 88 486 Email: david.hopkins@walwil.com
Or visit our website:
https://www.walleniuswilhelmsen.com/who-we-are/investors
About Wallenius Wilhelmsen
The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (RoRo)
shipping and vehicle logistics, managing the distribution of cars, trucks,
rolling equipment and breakbulk to customers all over the world. The company
operates around 125 vessels servicing 15 trade routes to six continents, a
global inland distribution network, 66 processing centers and eight marine
terminals. With a head office in Oslo, Norway, the Wallenius Wilhelmsen group
has 9,500 employees working across 28 countries worldwide