Strong start to 2022 - despite some margin pressure

Oslo (03.05.2022) Wallenius Wilhelmsen delivers EBITDA of USD 309m. "Despite a volatile market and supply chain issues we deliver a strong EBITDA. I am proud to see how our employees across the globe strive to find solutions for our customers despite challenging times and the tragic war in the Ukraine that is affecting us all," says Torbjørn Wist, CFO and acting CEO at Wallenius Wilhelmsen. Operational disruptions and port congestions in several central ports around the world became considerably more challenging during Q1 due to the Covid-19 resurgence in China, earthquake in Japan, stinkbug season, and labor shortages in ports. Consequently, waiting times at several key ports created challenges for Wallenius Wilhelmsen and our customers throughout the quarter. "We are doing our best to mitigate these challenges by having a continuous dialogue with our customers and re-routing to other ports with less congestion whenever possible. We also see that our long-lasting customer relationships are equally important to be able to find the best solutions," says Wist. Wallenius Wilhelmsen issued a NOK 1.25bn sustainability-linked bond, removing remaining bond refinancing risk in 2022. "I am very pleased with the successful bond issue, which links our sustainability track record and goals to attract existing and new investors," says Wist. Highlights from the quarter: o Strong EBITDA of USD 309m driven by the shipping segment o Some margin pressure due to fuel prices and supply chain issues o Cash position increased to USD 759m driven by solid EBITDA o Limited direct impact on business from the war in Ukraine o In April, the group issued NOK 1.25bn of sustainability-linked bonds o In April, the AGM approved the USD 63.5m dividend, and appointed Hans Åkervall and Yngvil Eriksson Åsheim as new members of the board Prospects: We continue to expect the supply-demand balance in shipping to remain favorable over the mid-term due to the overall global fleet situation. Logistics volumes will benefit from gradual improvement of automotive semiconductor chip supply expected during the latter part of 2022. This is expected to allow us to consolidate financial flexibility and help drive shareholder value creation in the absence of further volatility. Current disruptions to the global supply chains negatively impact the group and its customers. Potential risks include further disruptions to the global supply chains, operational impact from further Covid-19 outbreaks, fuel supply disruption, labor cost and availability, further escalation of the war in Ukraine and negative global economic developments. For further information, please contact: Investor relations: Anette Orsten, VP Global Treasury & IR. Tel: +47 980 67 912, email: Media relations: Anette Maltun Koefoed, VP Corporate Communications. Tel: +47 975 87 999, email: Pictures, please see the website Media - Wallenius Wilhelmsen 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

Source: NewsWeb