Wallenius Wilhelmsen: Highest quarterly result since the merger

Oslo (09.11.2021) Wallenius Wilhelmsen's EBITDA for the third quarter ended at a
record USD 223m. "We demonstrate our operating flexibility and ability to secure
higher margin cargos", says Torbjørn Wist, CFO and Acting CEO Wallenius
Wilhelmsen.   
 
Despite trade imbalances, semiconductor chip shortages and other supply chain
disruptions, Wallenius Wilhelmsen delivers the highest quarterly EBITDA since
the merger in 2017. 

Strong rate and profitability development in the Shipping segment outweigh lower
volumes in all segments this quarter due to chip shortages. 

"In the Shipping segment we demonstrate our operating flexibility and ability to
secure higher margin cargos", says Wist. 

The global economy is in recovery, but Wallenius Wilhelmsen is still prepared
for continued volatility and imbalances in the market. 

"On our journey back to normalization we continue to increase active vessel days
and we have taken delivery of the final newbuild, MV Nabucco", says Wist. 
 
Highlights 
o	EBITDA ended at a record USD 223m, the highest quarterly level since the
merger in 2017  
o	Strong rate and profitability development in the Shipping segment outweigh a
reduction in volumes and lower activity in Logistics and Government services  
o	Semiconductor chip shortages impact volumes across all segments 
o	Successful bond issue of NOK 1,500m in August with pricing 3m NIBOR+390bps and
5-year maturity 
o	Cash position of USD 587m, up USD 21m QoQ 

Wallenius Wilhelmsen continues to expect the supply-demand balance in Shipping
to remain favourable over the mid-term due to the overall global fleet
situation. Logistic volumes will benefit from stabilization of automotive
semiconductor chip supply expected during 2022. 

Potential risks include further shortages of semiconductor chips and other
parts, labor shortages, negative impacts of any further imbalances and
disruptions to the global supply chain, and operational impact from any new
COVID19 outbreaks. 

Continuing stabilization of market conditions will provide more financial
flexibility and help drive future shareholders value creation. 

 
 
For further information, please contact:  
Investor relations:   Anette Orsten, VP Global Treasury & IR. Tel: [phone]
912   
Email: [e-mail]  
Media relations:   Anette Maltun Koefoed, VP Corporate Communications. Tel: +47
975 87 999; Email: [e-mail] 
 
About Wallenius Wilhelmsen  
The Wallenius Wilhelmsen group (OEX: WAWI) is a market leader in RoRo shipping
and vehicle logistics, transporting cars, trucks, rolling equipment and
breakbulk around the world. The company operates around 130 vessels servicing 15
trade routes to six continents, and a global inland distribution network, 120
processing centres, and 11 marine terminals. The Wallenius Wilhelmsen group
consist of Wallenius Wilhelmsen Ocean, Wallenius Wilhelmsen Solutions, EUKOR and
ARC. The group is headquartered in Oslo, Norway with 8 700 employees in 29
countries worldwide.
 
Read more at walleniuswilhelmsen.com

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