Wallenius Wilhelmsen: Strong final quarter in 2021

Oslo (08.02.2022) Wallenius Wilhelmsen delivers a strong EBITDA of USD 306m in Q4, driven by shipping results and improvement in Logistics. "The results combined with prepayment of deferred debt allow us to return to a dividend paying position, and we are happy to propose a solid dividend," says Torbjørn Wist, CFO and acting CEO at Wallenius Wilhelmsen. Despite supply chain disruptions such as semiconductor chip shortages and labor issues related to the pandemic, Wallenius Wilhelmsen delivers a strong final quarter in 2021 with EBITDA of USD 306m for the group. These results are mainly driven by Shipping. Logistics also delivered improved profitability, while Government saw a drop in margins. "Our key drivers this quarter are improved freight rates, operational efficiency and a full sailing fleet. As of this quarter, all vessels are back from lay-up and we also got our final newbuild Nabucco delivered in October," says Wist. Highlights from the quarter: Strong quarterly EBITDA of USD 306m (up 37% QoQ), driven by Shipping results and improvement in Logistics Deferred debt being prepaid in Q1-22, removing dividend block Proposed dividend of USD 63.5m for 2021 Solid cash position of USD 710m All vessels returned from lay-up and final newbuild Nabucco delivered Lasse Kristoffersen named new CEO, starting no later than 1 June 2022 The global supply chain is still impacted by the market imbalance. "Moving forward, we will have to continue to leverage our operational flexibility to maneuver the ongoing global market volatility," says Wist. 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 2022. In the absence of further volatility and disruptions to supply-chains, these developments are expected to further improve financial flexibility and help drive shareholder value creation. Potential risks include further parts shortages, labor shortages, increased geopolitical tension, negative impacts of any significant disruptions to the global supply chains, and operational impact from COVID19 outbreaks. 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 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

Source: NewsWeb