Wilh. Wilhelmsen Holding Asa Class A · OSL:WWI
Wilh. Wilhelmsen Holding Asa Class A — Q1 2024 Earnings Presentation
23 slides from Wilh. Wilhelmsen Holding Asa Class A's earnings presentation, May 2024
Slide 1: Wilh. Wilhelmsen Holding ASA First quarter 2024
Wilh. Wilhelmsen Holding ASA First quarter 2024 May 2024
Slide 2: Highlights Q1 2024
Wilh. Wilhelmsen Holding ASA Highlights Q1 2024 Stable operating results - USD 28 million EBITDA in Maritime Services. - USD 12 million EBITDA in New Energy. Improved contribution from associates - USD 63 million share of profit from Wallenius Wilhelmsen. - USD 25 million share of profit from Hyunda
Slide 3: Maritime Services: Higher income – stable EBITDA
Maritime Services Higher income – stable EBITDA Total income and adjusted EBITDA margin *) USD 194 million total income • Up 6% y-o-y. Total income EBITDA USD million margin (adj.) • Income up for all main activities. 250 25% • Lifted by inflationary effect and partly an increase in volumes and +6%
Slide 4: New Energy: Stable income and EBITDA for recurring activities
New Energy Stable income and EBITDA for recurring activities Total income and adjusted EBITDA margin *) USD 69 million total income • Down 8% y-o-y. Total income EBITDA USD million margin (adj.) • Reduction due to loss of income from NorSea Wind. 120 40% • NorSea operating revenue stable. 100 30% US
Slide 5: Improved contribution from Wallenius Wilhelmsen and Hyundai Glovis
Strategic Holdings and Investments Improved contribution from Wallenius Wilhelmsen and Hyundai Glovis Direct investments – Value adjusted USD 88 million share of profit from associates (WAWI and TRE based on share price, other financial investments based on account value) • USD 63 million from Walle
Slide 6: ESG
Wilh. Wilhelmsen Holding ASA ESG Internal ESG index measures performance: - Climate change and decarbonisation. - Health and safety. - Equality, diversity and inclusion. - Supply chain management. - Compliance. Highlights for the quarter - ESG index integrated in bonus scheme for group companies. -
Slide 7: Outlook
Wilh. Wilhelmsen Holding ASA Outlook Wilhelmsen retains a strong balance sheet and a balanced portfolio of leading maritime operations and investments. While uncertainty persists, specifically regarding inflationary pressure and geopolitical tension, the group retains its capacity to support and gro
Slide 8: Financials
Wilh. Wilhelmsen Holding ASA First quarter 2024 Financials May 2024
Slide 9: Stable EBITDA and increased profit from associates y-o-y
Wilh. Wilhelmsen Holding ASA Stable EBITDA and increased profit from associates y-o-y Q-on-Q Y-o-Y USD million Q1'24 Q4'23 Change Q1'23 Change Total income 264 256 3% 261 1% - of which operating revenue 265 250 6% 262 1% - of which gain/(loss) on sale of assets (1) 5 (1) EBITDA 38 33 16% 39 -3% Oper
Slide 10: USD 37 million in cash from operating activities and associates (YTD Q1'24)
Wilh. Wilhelmsen Holding ASA USD 37 million in cash from operating activities and associates (YTD Q1’24) Cash flow – YTD Q1’24 (USD million) 16 -6 2 -33 224 25 0 -23 -17 187 12/31/2023 Operating Operating Operating Dividend Other Dividend Net debt Other 3/31/2024 Maritime New other from JVs investin
Slide 11: 70% equity ratio and long-term financing structure
Wilh. Wilhelmsen Holding ASA 70% equity ratio and long-term financing structure Main Maritime Services and New Energy loan facilities maturing in 2027 Wilhelmsen group total assets and equity ratio Debt maturity profile USD million Equity ratio USD million. 5 000 70% 75% 300 253 250 4 000 217 200 50
Slide 12: First dividend of NOK 10.00 per share and buyback of 440,000 shares
Wilh. Wilhelmsen Holding ASA First dividend of NOK 10.00 per share and buyback of 440,000 shares Board authority to distribute additional dividend of up to NOK 8.00 per share and additional share buybacks Dividend payments 1) Cash to shareholders 2) NOK/share Yield (%) USD million. 18,00 6 86 90 16,
Slide 13: istomer centered * Empowerment * Stewardship
istomer centered * Empowerment * Stewardship
Slide 14: Supplementary slides – First quarter 2024
Supplementary slides – First quarter 2024 Maritime Services Ships Service Port Services Ship Management New Energy NorSea Edda Wind ASA Strategic Holdings and Investments Wallenius Wilhelmsen ASA Treasure ASA Financial investments
Slide 15: Ships Service
Ships Service Wilhelmsen Ships Service offers a portfolio of maritime solutions to the merchant fleet. Wilhelmsen Ships Service is fully owned by Wilhelmsen. Q1’24 highlights Total income • Total income for Ships Service was USD 128 million. This was up 7% USD million +7% +11% from the corresponding
Slide 16: Port Services
Port Services Wilhelmsen Port Services provides full agency, husbandry, and protective agency services to the merchant fleet. Wilhelmsen Port Services is fully owned by Wilhelmsen. Q1’24 highlights Total income • Total income for Port Services was USD 40 million. This was up 6% USD million from the
Slide 17: Ship Management
Ship Management Wilhelmsen Ship Management provides full technical management, crewing, and related services for all major vessel types. Wilhelmsen Ship Management is fully owned by Wilhelmsen. Q1’24 highlights Total income • Total income for Ship Management was USD 21 million, up 4% from the +4% -1
Slide 18: NorSea
NorSea NorSea provides supply bases and integrated logistics solutions to the offshore industry. NorSea is owned 99% by Wilhelmsen. The remaining 1% is held by NorSea management. Q1’24 highlights Total income • Total income for NorSea was USD 68 million in the first quarter, down USD million 2% year
Slide 19: Edda Wind ASA
Edda Wind ASA Edda Wind ASA provides services to the global offshore wind industry and is listed on Oslo Børs. Wilhelmsen owns 25.4% of the company, which is reported as associate in Wilhelmsen’s accounts. Q1’24 highlights Market value of Wilhelmsen’s investment • Share of profit from Edda Wind ASA
Slide 20: Wallenius Wilhelmsen ASA
Wallenius Wilhelmsen ASA Wallenius Wilhelmsen ASA is a market leader in RoRo shipping and vehicle logistics and is listed on Oslo Børs. Wilhelmsen owns 37.9% of the company, which is reported as associate in Wilhelmsen’s accounts. Q1’24 highlights Market value of Wilhelmsen’s investment • Share of p
Slide 21: Treasure ASA
Treasure ASA Treasure ASA holds a 11.0% ownership interest in Hyundai Glovis Co., Ltd. (Hyundai Glovis) and is listed on Oslo Børs. Wilhelmsen owns 78.7% of Treasure ASA. Q1’24 highlights Market value of Wilhelmsen’s investment USD million change • Share of profit from Hyundai Glovis was included wi
Slide 22: 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 Investments segment. Q1’24 highlights Market value of Wilhelmsen’s financial inv
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Wilh. Wilhelmsen Holding — Q1 2024 Earnings Presentation on 6ix