WALLENIUS WILHELMSEN ASA Wallenius Wilhelmsen closes another solid quarter - 2023 is the strongest year on record (Oslo February 14, 2024 )Wallenius Wilhelmsen reported strong performance for the fourth quarter of 2023 with EBITDA atUSD 454m . For the full year,Wallenius Wilhelmsen delivered a record EBITDA ofUSD 1,807m and a net profit ofUSD 967m . The Board proposes a dividend of 50 percent of net profit for 2023 and a new semi-annual pay-as-you-go dividend policy for 2024 and beyond. "2023 was our best year ever. I am proud of what our people have delivered together with our customers. Not only are customers renewing contracts at market rates; they are also adding biofuel as part of their standard fuel mix. During 2023, we have been running our fleet of 125 vessels at maximum capacity, and we see the congestion picture improving. Still, the total number of lost sailing days are flat due to theRed Sea situation," saysLasse Kristoffersen , President, and CEO atWallenius Wilhelmsen . He expects 2024 to be somewhat stronger than 2023. Predictability and stability Customers are shifting priorities, increasingly looking for shipping and logistics solutions giving predictability and stability in larger parts of their supply chains. Q4 EBITDA wasUSD 454m , of which shipping deliveredUSD 392m , logisticsUSD 43m and governmentUSD 32m . "Most of the customer contracts we signed in 2023, and have signed so far in 2024, encompass shipping and logistics services, and have typical durations of three years with extension options," says Kristoffersen, who also points out that this is a result of long-term relations and there are no signs of customers demanding less volume going forward. Decarbonization and biofuel "The demand for biofuel is increasing, and more than 10 percent of our fuel consumption in 2024 will be biofuel," says Kristoffersen who is also pleased with the big stepsWallenius Wilhelmsen is taking to reduce own emission through a combination of initiatives ranging from AI to physical modifications of vessels. He adds: "Despite increasing activity and high vessel utilization, we reduced our absolute emission year over year with around 10 percent."The Red Sea situation The situation in theRed Sea area has a significant impact on global trade. As the first RoRo company,Wallenius Wilhelmsen decided to re-route all vessels around the cape ofAfrica onDecember 18 . The net effect on capacity is a loss of 4-6 percent sailing days. "We are having a dialog with customers about how to mitigate this as we speak. This is a fluid situation. We never compromise on safety or environment and will make sure to keep our people safe and meet our decarbonization targets," says Kristoffersen. The company maintains its guiding that 2024 is likely to be a somewhat better year than 2023. Q4 highlightsWallenius Wilhelmsen : o Delivers a strong Q4 EBITDA ofUSD 454m , of which Shipping contributesUSD 392m , LogisticsUSD 43m , and GovernmentUSD 32m o Concludes several multi-year contracts with key customers at market rates o Delivers a record EBITDA ofUSD 1,807m and a Net Profit ofUSD 967m for FY 2023 o Proposes to pay a dividend ofUSD 1.14 per share, representing a FY 2023 payout of 50% and a total dividend amount ofUSD 482m o Proposes to introduce a semi-annual pay-as-you-go dividend policy, under which a potential dividend for H1 2024 will be paid with the second tranche of the 2023 dividend o Maintains expectation that 2024 is likely to be a somewhat better year than 2023, but see recent geopolitical events, specifically in theRed Sea , adding some more uncertainty For further information, please contact: Anders Redigh Karlsen, VP IR & Market Insight Tel: +47 994 20 293 Email: anders.karlsen@walwil.com For media:Anette Maltun Kofoed , SVP & Chief Communication and Marketing Officer Tel: +47 975 87 999 Email: anette.maltunkoefoed@walwil.com Or visit our website: https://www.walleniuswilhelmsen.com/who-we-are/investors AboutWallenius Wilhelmsen TheWallenius 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 125 vessels servicing 15 trade routes to six continents, a global inland distribution network, 66 processing centers and eight marine terminals. With a head office inOslo, Norway , theWallenius Wilhelmsen group has 9,500 employees working across 28 countries worldwide.
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