Wilh. Wilhelmsen Holding Asa Class A · OSL:WWI
Wilh. Wilhelmsen Holding Asa Class A — Q1 2021 Earnings Presentation
18 slides from Wilh. Wilhelmsen Holding Asa Class A's earnings presentation, May 2021
Slide 1: Wilh. Wilhelmsen Holding ASA First quarter 2021
Wilh. Wilhelmsen Holding ASA First quarter 2021 May 2021
Slide 2: Stable income and improved EBITDA Q-on-Q
Wilh. Wilhelmsen Holding ASA group Stable income and improved EBITDA Q-on-Q
Slide 3: Change in group segment structure
Wilh. Wilhelmsen Holding ASA group Change in group segment structure Main changes Activity/investment From business segment To business segment NorSea Wind Maritime Services (50%) New Energy Supply Services (50%) Edda Wind group Holding and Investments New Energy RaaLabs Massterly Dolittle WilNor Go
Slide 4: Maritime Services: Stable development Q-on-Q; income remains below pre-pandemic level
Maritime Services Stable development Q-on-Q; income remains below pre-pandemic level Total income and adjusted EBITDA margin *) USD 130 million total income • Down 10% y-o-y. Total income EBITDA USD mill margin (adj.) • Sale of marine products continued the gradual recovery but 160 25% remained belo
Slide 5: New Energy: Stable activity level; increased investment in renewables
New Energy Stable activity level; increased investment in renewables Total income and adjusted EBITDA margin *) USD 70 million total income • Up 11% y-o-y mainly due to stronger NOK vs. USD Total income EBITDA USD mill margin (adj.) • Stable activity level in NorSea Group 100 40% • Increased income
Slide 6: Further increase in assets market value
Strategic Holdings and Investment Further increase in assets market value Direct investments – Value adjusted USD 1 million profit from associates (WAWI and TRE based on share price, other financial investments based on account value) • Wallenius Wilhelmsen net profit impacted by higher fuel prices
Slide 7: Steady cash flow from operating activities
Wilh. Wilhelmsen Holding ASA group Steady cash flow from operating activities Cash flow – YTD Q1’21 (MUSD) 13 -6 285 269 22 -23 13 -3 0 31.12.2020 Operating Operating Operating Investing Dividend Net debt Other 31.03.2021 Maritime New other activities and issue/repayment financing Services Energy bu
Slide 8: Balance sheet remains solid
Wilh. Wilhelmsen Holding ASA group Balance sheet remains solid Wilhelmsen group total assets and equity ratio Debt maturity profile USD mill Equity ratio USD mill. 4 000 70% 331 350 65% 65% 60% 300 3 000 55% 250 50% 216 45% 200 2 000 40% 35% 150 30% 100 1 000 25% 75 20% 50 20 25 15% 0 10% 0 Q1 Q1 Q1
Slide 9: First dividend of NOK 5.00 per share
Wilh. Wilhelmsen Holding ASA group First dividend of NOK 5.00 per share Including NOK 2.00 in extraordinary dividend due to reduced dividend in 2020 Potential second dividend of up to NOK 3.00 per share Dividend payments 1) Cash to shareholders 2) NOK/share Yield (%) USD mill. 8,00 8 70 7,00 7 60 55
Slide 10: Outlook
Wilh. Wilhelmsen Holding ASA group Outlook Maritime Services New Energy Strategic Holdings and Investments Gradual increase in general activity level. Expected increase in activity level in the Car/roro supply-demand balance expected to second and third quarter due to seasonality. remain favourable
Slide 11: Supplementary slides – First quarter 2021
Supplementary slides – First quarter 2021 Maritime Services Ships Service Ship Management New Energy NorSea Group Strategic Holdings and Investment Wallenius Wilhelmsen ASA Treasure ASA Financial investments
Slide 12: Ships Service
Ships Service Wilhelmsen Ships Service is a global provider of standardised product brands and service solutions to the maritime industry, focusing on marine products, maritime logistics and ships agency. Ships Service is fully owned by Wilhelmsen. Q1’21 highlights Total income • Total income for sh
Slide 13: Ship Management
Ship Management Wilhelmsen Ship Management provides full technical management, crewing and related services for all major vessel types. Ship Management is fully owned by Wilhelmsen. Q1’21 highlights Total income • Total income for Ship Management was USD 12 million. This was USD mill on par with the
Slide 14: NorSea Group
NorSea Group NorSea Group provides supply bases and integrated logistics solution to the offshore industry. Wilhelmsen owns ~75,2% of NorSea Group (as per 31 March 2021). Q1’21 highlights Total income • Total income for NorSea Group was USD 61 million in the first USD mill quarter. This was up 8% ye
Slide 15: Wallenius Wilhelmsen ASA
Wallenius Wilhelmsen ASA Wallenius Wilhelmsen ASA is a is a market leader in RoRo shipping and vehicle logistics and is listed on Oslo Børs. Wilhelmsen owns ~37,8% of Wallenius Wilhelmsen ASA (as per 31 March 2021). Q1’21 highlights Market value of Wilhelmsen’s investment • Total income for Walleniu
Slide 16: Treasure ASA
Treasure ASA Treasure ASA holds a 11.0% ownership interest in Hyundai Glovis and is listed on Oslo Børs. Wilhelmsen owns ~73.5% of Treasure ASA (as per 31 March 2021, not adjusted for shares held by the company). Q1’21 highlights Market value of Wilhelmsen’s investment • Change in fair value of the
Slide 17: Financial investments
Financial investments Financial investments include cash and cash equivalents, current financial investments and financial assets held by the parent and fully owned subsidiaries reported under the Strategic Holdings and Investment segment. Q1’21 highlights Market value of Wilhelmsen’s investment • U
Slide 18: Slide 18
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