Despite solid underlying business performance, stable EBITDA, and increased profit from strategic investments, a fall in the market value ofHyundai Glovis led to a net loss ofUSD 99 million for the quarter. "Our Maritime Services segment recorded a 2% increase in top line and a 1% increase in EBITDA compared with the second quarter. All our businesses within this portfolio continue to see gradual rebound in activity to pre-pandemic levels. Increase in market share has also contributed to growth. We experienced a continued recovery in sales ofMarine Products and with general high demand for auxiliary port services, the top line contribution fromShips Agency services increased. And finally, more vessels on full technical management has a positive impact for Ship Management," saysThomas Wilhelmsen , group CEO. Commenting on the group's newest business segment, New Energy, Wilhelmsen highlights: "The anticipated seasonal slowdown in logistics and offshore wind activities impacted total income and EBITDA from this segment." The group'sStrategic Holdings and Investment segment reported a loss ofUSD 110 million . The general market development within the car and ro-ro segment led to a stronger contribution fromWallenius Wilhelmsen ASA . Combined with good results from financial investments, the contribution was offset by a reduction in the fair value ofHyundai Glovis . The net loss to equity holders of the company ended atUSD 99 million , down from a profit ofUSD 89 million in the second quarter. This equals earnings per share at negativeUSD 2.21 , down from a positiveUSD 1.99 . At the annual general meeting held22 April 2021 , the board was authorised to declare a second dividend. A second dividend ofNOK 3 per share has been approved and will be paid to the company's shareholders on 6 December, bringing the total dividend paid in 2021 to8 NOK per share. "With ever increasing political, economic and societal attention on sustainability and environmental issues, we are committed to contribute to decarbonisation and energy transition. With a firm intention to invest in Maritime Services and New Energy, we expect both segments to grow further through existing and new business opportunities," says Wilhelmsen. Concluding, "While there are some concerns related to global GDP growth, increases in energy prices, and general inflation, the underlying trends for our businesses are favourable, resulting in higher expectations on activities going forward." For further information, contact: Åge Sturtzel, IRO Tel: +47 900 87 670 Email: aage.sturtzel@wilhelmsen.comBenedicte Teigen Gude , EVP HR, culture, and communication Tel: +47 959 07 951 Email: benedicte.teigen.gude@wilhelmsen.com AboutWilh. Wilhelmsen Holding ASA Our ambition 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 in more than 70 countries, we take innovation, sustainability and unparalleled customer experiences one step further. For more information, please visit www.wilhelmsen.com
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