“We are proud to announce the second strongest quarter on record with adjusted Ebitda of $503m,” says Lasse Kristoffersen, president and CEO at Wallenius Wilhelmsen, being confident that Ebitda for 2024 will be somewhat better than 2023.
The company progresses with contract renewals and attractive financing for newbuilds. Norway’s car carrier operator Wallenius Wilhelmsen reported solid progress in contract renewals and expects to announce further contracts before the year-ends.
It also upsized four newbuildings to 11,700 ceu and secured attractive financing for six Shaper-class vessels.
“All business units are performing well, and the activity level is high across the organization. Year-to-date, all segments have delivered better than in 2023,” says Kristoffersen.
EBITDA was $471m for the quarter and net profit ended at $259m. Of the Q3 adjusted Ebitda, Shipping delivered $416m, Logistics $47m and Government $49m.
Meanwhile, during the quarter the company continued to move forward with contract negotiations.
“Renewals for contracts expiring in 2024 are progressing well, as evidenced by the latest announcement of a five-year contract in the H&H segment. We see strong and increased demand in areas where we have industry leading offerings, including shipping, logistics, integrated supply chain, digital and reduced emissions services,” noted Kristoffersen.
The top management of the company, Kristoffersen, is confident 2024 will be another strong year.
The company experiences continued strong demand for its services despite short-term softening sales of auto and heavy equipment globally, which is viewed more as a temporary softening rather than a structural shift.
“This provides a solid backdrop for our dividend policy and ability to invest in renewing and growing our business,” Kristoffersen adds.
