Another strong quarter, despite challenging situation in global supply-chain
Oslo (16.08.2022) Wallenius Wilhelmsen reports Q2 EBITDA of USD 311m. "We are
proud to deliver another strong quarter, despite the challenging global
supply-chain situation. Our financial position is solid and in Q2 we commenced
paying out dividends in line with our policy," says Lasse Kristoffersen,
President and CEO at Wallenius Wilhelmsen. Kristoffersen says he will use the
company's leading position to accelerate sustainable and digital end-to-end
solutions.
Wallenius Wilhelmsen's revenue grew 4 percent, driven by shipping volumes and
fuel surcharge revenues. Adjusted EBITDA remained solid in Q2, up 1 percent QoQ,
on continued strong shipping activity. Strong volumes, increased fuel surcharges
and full utilization of the fleet countered the cost pressure from higher fuel
prices and operational challenges.
Global supply chain issues continued to pose operational challenges across the
group. Auto parts shortages negatively impacted our customers, and thereby
volumes and profitability, in the logistics segment. Logistics EBITDA decreased
by USD 4m QoQ.
"I am impressed with the skill and commitment of my colleagues across the world
in countering these challenges. Thanks to their dedication, strong customer
commitment and long-term customer relationships we manage to make the best of
the situation," says Kristoffersen.
In Q1 Wallenius Wilhelmsen launched a sustainability-linked financing framework.
Showcasing our commitment to our CO2 intensity target, in Q2 we signed USD 950
million of new debt with pricing linked to achieving these targets.
"I am proud to be in a company that works hard on decarbonization. We have the
position and aspiration to play a leading role towards zero emissions.
Delivering good results and returns is important for us to be able to invest and
lead this journey", says Kristoffersen.
Highlights from the quarter:
o Strong EBITDA of USD 311m on continued solid shipping results
o Cash position increased to USD 821m driven by solid EBITDA
o Lasse Kristoffersen joined as CEO
o Dividend installment of USD 38m paid to shareholders
o USD 950m in new debt with pricing linked to emission reduction
For further information, please contact:
Investor relations: Anette Orsten, VP Global Treasury & IR.
Tel: +47 980 67 912, email: anette.orsten@walwil.com
Media relations: Anette Maltun Koefoed, VP Corporate Communications.
Tel: +47 975 87 999, email: anette.maltunkoefoed@walwil.com
Pictures, please see the website
https://www.walleniuswilhelmsen.com/who-we-are/media
About Wallenius Wilhelmsen
The Wallenius Wilhelmsen group (OSE: WAWI) is a market leader in RoRo shipping
and vehicle logistics, transporting cars, trucks, rolling equipment and
breakbulk around the world. The company operates over 130 vessels servicing 16
trade routes to six continents, and a global inland distribution network,
processing centers, and marine terminals all over the world. The Wallenius
Wilhelmsen group consists of Wallenius Wilhelmsen Ocean, Wallenius Wilhelmsen
Solutions, EUKOR and ARC. The group is headquartered in Oslo, Norway with 8,200
employees in 29 countries worldwide.
Read more at walleniuswilhelmsen.com