WILH. WILHELMSEN HOLDING ASA Good performance from the operating businesses delivered an EBITDA ofUSD 38 million in the first quarter, with the Wilhelmsen group also receiving strong contributions from associates. This resulted in a profit ofUSD 113 million for the period. Total income for the group wasUSD 264 million , up 1% from the first quarter of 2023 and up 3% from the previous quarter. EBITDA wasUSD 38 million , down 3% from corresponding period last year though up 16% from the previous quarter. "We held steady this first quarter, with stable performance from Maritime Services and New Energy, among other closing the acquisition of Zeaborn Ship Management. In combination with improved contributions from joint ventures and especiallyWallenius Wilhelmsen , I am pleased to see we are off to a good start in 2024," saysThomas Wilhelmsen , Group CEO. The Maritime Services segment had a total income ofUSD 194 million in the first quarter. This was up 6% from the corresponding period last year and up 4% from the previous quarter. All main activities had a year-over-year increase in total income, driven by the inflationary effect on pricing and partly an increase in volumes and activities. On 31 March, Wilhelmsen andMPC Capital completed the acquisition of Zeaborn Ship Management, announced in December. Total income for the New Energy segment wasUSD 69 million in the first quarter. This was down 8% from the corresponding period last year but up 1% from the previous quarter. The reduction year-over-year was due to loss of income from NorSea Wind which ceased operation last year.The Strategic Holdings and Investments segment reported aUSD 93 million profit to equity holders of the company in the first quarter. This was up both year-over-year and from the previous quarter due to higher contribution fromWallenius Wilhelmsen ASA andHyundai Glovis . Net profit to equity holders of the company wasUSD 108 million for the quarter, equal toUSD 2.44 earnings per share (EPS). Post quarter, the Annual General Meeting on 2 May approved the board's proposal for a first dividend ofNOK 10.00 per share and authorised the board to distribute additional dividend of up toNOK 8.00 per share. In April, Wilhelmsen completed buyback of 440,000 own shares split on 20,441 a-shares and 419,559 b-shares. Commenting on the outlook for the group, Wilhelmsen says: "While uncertainty persists, specifically regarding inflationary pressure and geopolitical tension, we retain a strong balance sheet, and will continue to develop companies within maritime services, shipping, logistics, renewables, and related infrastructure, all while delivering consistent yearly dividends." For further information, please contact: Investors: Åge Sturtzel IROWilh. Wilhelmsen Holding Tel: (+47) 900 87 670 aage.sturtzel@wilhelmsen.com Media:Ole Jakob Ytterdal VP Corporate CommunicationWilh. Wilhelmsen Holding ASA Tel: +47 970 88 362 ole.j.ytterdal@wilhelmsen.com About Wilhelmsen Our vision is to shape the maritime industry. Founded inNorway 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 across more than 60 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 of 5-12 of the Norwegian Securities Trading Act.
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