Wilhelmsen delivered improved operating result of USD 39 million, with the
Wilhelmsen group also benefitting from a continued strong contribution from
associates in the first quarter. This resulted in a profit of USD 57 million for
the quarter.
Total income for the group was USD 261 million, up 8% from the first quarter of
2022 and up 5% from the previous quarter. EBITDA was USD 39 million, down 11%
from one year earlier which included a step-up gain. Adjusting for the
non-recurring gain, EBITDA was up year-over-year supported by an increase in
operating revenue. Compared with the previous quarter, EBITDA was up 17%.
"Our operating businesses all increased total income for the quarter, driven by
higher volumes and acquisitions and supported by a generally positive global
shipping market. Another strong contribution from Wallenius Wilhelmsen was also
a positive for the quarter, reflecting the favourable supply-demand in global
ro-ro shipping," says Thomas Wilhelmsen, group CEO.
The Maritime Services segment continued its positive development with a total
income of USD 183 million, up 19% year-over-year and up 13% from the previous
quarter. EBITDA was USD 28 million, up 37% year-over-year and up 12% from the
previous quarter. EBITDA was supported by the year-over-year increase in income
and a strong USD.
In the fourth quarter, total income for the New Energy segment was USD 75
million. This was down from the corresponding period last year, which included a
step-up gain related to full consolidation of Vikan Næringspark Invest, and down
from the previous quarter, which included a vessel sales gain. EBITDA for the
first quarter was USD 12 million. Adjusting for previous year gross up gain and
sales gain, EBITDA was down 13% year-over-year but up 28% quarter-on-quarter.
The group's Strategic Holdings and Investments segment reported a USD 59 million
profit to equity holders of the company in the first quarter. This reflected a
continued strong contribution from Wallenius Wilhelmsen of USD 56 million and
net other financial income partly offset by a negative change in the value of
Hyundai Glovis.
Net profit to equity holders of the company was USD 65 million for the quarter,
equal to USD 1.46 earnings per share (EPS).
Reflecting the importance of ESG and transparency for Wilhelmsen, the first
quarter 2023 report for the first time includes aggregated ESG results for the
consolidated entities in the group. The overall group ESG result was 0.66 for
the first quarter. This was mainly due to the Lost Time Injury Frequency Rate
for seafarers being marginally above target for the quarter, but still
significantly below the 12-month rolling target, and lower than planned results
in compliance and value chain.
Post quarter, the Annual General Meeting on 27 April approved the board's
proposal for a first dividend of NOK 6.00 per share and authorised the board to
declare a second dividend of up to NOK 4.00 per share.
Commenting on the outlook for the group, Wilhelmsen says: "With a strong balance
sheet and clear strategic focus on long term value creation, the Wilhelmsen
group retains its capacity to support and further build the portfolio and to
deliver consistent dividends."
For further information,
contact:
Åge Sturtzel,IRO
Wilh. Wilhelmsen Holding ASA
Tel: +47 900 87 670 aage.sturtzel@wilhelmsen.com
David Hopkins,Group Group Communications Manager
Wilh. Wilhelmsen Holding ASA
Tel: +47 942 88 486
david.hopkins@wilhelmsen.com
About Wilh. Wilhelmsen Holding ASA
Our vision is shaping the maritime industry.
Founded in Norway in 1861, Wilhelmsen is now a comprehensive global maritime
group providing essential products and services to the merchant fleet, along
with supplying crew and technical management to the largest and most complex
vessels ever to sail. Committed to shaping the maritime industry, we also seek
to develop new opportunities and collaborations in renewables, zero-emission
shipping, and marine digitalization. Supporting a diverse and inclusive
workplace, with thousands of colleagues in more than 70 countries, we take
innovation, sustainability and unparalleled customer experiences one step
further.
For more information, please visit www.wilhelmsen.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.