Wallenius Wilhelmsen: Updated financial targets and dividend policy
On 7 February 2023, the Board of Directors of Wallenius Wilhelmsen ASA approved
new long-term financial targets, an updated dividend policy, and an updated
investor relations policy. These are published on
https://www.walleniuswilhelmsen.com/who-we-are/investors
"Wallenius Wilhelmsen has established long-term financial targets relevant to
companies in capital intensive industries. Going forward we will regularly
communicate status relative to targets for ROCE, leverage, and equity ratio, as
indicators of our financial performance and solidity," said Torbjørn Wist, CFO.
The changes in the dividend policy are not material but reflect that the board
will consider the new financial targets and future capital requirements when
deciding on the dividend amount. Wist says "We are committed to remunerating our
shareholders competitively, and the payout ratio range in the policy remains
unchanged".
Long-term financial targets:
o Return on capital employed (ROCE) > 8%
Calculated as last twelve months of adjusted EBIT divided by the last twelve
months average capital employed (total assets less total liabilities plus total
interest-bearing debt)
o Leverage ratio < 3.5x
Calculated as net interest-bearing debt divided by last twelve months of
adjusted EBITDA
o Equity ratio > 35%
Calculated as book value of equity divided by book value of total assets
Dividend policy:
"Wallenius Wilhelmsen's objective is to provide shareholders with a competitive
return over time through a combination of rising value for the Wallenius
Wilhelmsen share and payment of dividend to the shareholders.
The board targets a dividend which over time shall constitute between 30 and 50%
of the company's profit after tax. When deciding the size of the dividend, the
board will consider its financial targets and future capital requirements to
ensure the implementation of its growth strategy, as well as the need to ensure
that the group's financial standing remains solid. Dividends will be declared in
USD and paid out semi-annually."
***
The investor relations policy is updated as per best practice without any
material changes.
For further information, please contact:
Anette Orsten, VP Global Treasury & IR
Tel: +47 980 67 912 ; Email: anette.orsten@walwil.com
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 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 130 vessels servicing 15 trade routes to six
continents, a global inland distribution network, 120 processing centers and
eight marine terminals.
Headquartered in Oslo, Norway, the Wallenius Wilhelmsen group has 8,700
employees in 29 countries worldwide.
The company's purpose is to build sustainable supply chains, imagining new, more
sustainable solutions for the changing world of mobility and transport on land
and at sea.
Read more at walleniuswilhelmsen.com