Wallenius Wilhelmsen Asa · OSL:WAWI
Wallenius Wilhelmsen Asa — SEB Nordic Seminar 2022
19 slides from Wallenius Wilhelmsen Asa's conference presentation, January 2022
Slide 1: SEB Nordic Seminar January 2022
SEB Nordic Seminar January 2022
Slide 2: Investment highlights
Investment highlights Global market leader – vehicle logistic segment Long-term customer base – diversified business model Strong history of free cash flow – policy to pay regular dividends Solid market fundamentals – high economic activity after 2020 Long term commitment to sustainability – ambitio
Slide 3: Agenda
Agenda 1. WAWI in brief 2. Market update 3. Financial update 4. Investment highlights
Slide 4: Premium end-to-end supply management
Premium end-to-end supply management Premium end-to-end supply management Factory & plants Terminal On-site processing centers Ocean Processing centers Terminal End customer
Slide 5: A company built on a strong history
A company built on a strong history ~8,200 129 Employees Vessels in across 29 operation countries (Q3-21) Wallenius Wilhelmsen ASA • 2017 merger of companies with >150-year history • Listed on Oslo Stock Exchange (ticker: WAWI) • Wilh. Wilhelmsen Holding ASA and Wallenius 8 66+ Lines AB largest shar
Slide 6: Our commitment to change
Our commitment to change Principles of Governance People Planet Prosperity Transparent, with strong Safe & inclusive workplace Decarbonize and reduce Solving the biggest ethical business conduct Drive economic, social & our environmental impact challenges while creating environmental performance new
Slide 7: Our strategy to strengthen our competitive advantage
Our strategy to strengthen our competitive advantage End-to-end supply chain Expand to full lifecycle Drive operational Lead the journey to zero orchestration effectiveness emissions Digitalization Supreme customer Efficiency Zero emission experience 7
Slide 8: Our Business Segments
Our Business Segments Shipping Services Logistics Services Government Services Share of EBITDA* Highlights: Share of EBITDA* Highlights: Share of EBITDA* Highlights: • Worldwide deep-sea • Terminals • RoRo shipping cargo, transportation network • Inland distribution networks 7% breakbulk, vehicles 7
Slide 9: We target to reduce carbon intensity by more than 50% from 2008 to 2030
We target to reduce carbon intensity by more than 50 % from 2008 to 2030 We are committed We reduced fleet to reduce fleet CO2e CO2e intensity1 from intensity from 2019 2008 to 2019 by: to 2030 by: 33.6% 27.5%2 Carbon intensity target 2000 2010 2020 2030 2040 2050 Carbon ambition milestones 2023 205
Slide 10: Our journey towards zero takes place every day and through engaging in future improvements
Our journey towards zero takes place every day and through engaging in future improvements Day-to-day Long-term Digitalization of fleet Advanced Bio-fouling weather management Future fuels Future vessels Future tech routing techniques solutions 10
Slide 11: Agenda
Agenda 1. WAWI in brief 2. Market update 3. Financial update 4. Investment highlights
Slide 12: High underlying demand and restocking needs for auto and High & Heavy globally
High underlying demand and restocking needs for auto and High & Heavy globally LIGHT VEHICLE SALES OUTLOOK1 HIGH & HEAVY OEM SALES OUTLOOK2 +5% +18% +3% +9% -14% -11% 2020 2021 2022 2020 2021 2022 • High underlying light vehicle demand from consumers, but • H&H demand soars but remains unfulfilled d
Slide 13: Tight tonnage situation with limited recycling and orderbook
Tight tonnage situation with limited recycling and orderbook New orders have a lead time of 3-4 years. Easing of current supply chain inefficiencies will add capacity GLOBAL FLEET* End Q3 (end Q2) #43 (43) #40 (16) 91% (89%) vessels built between fleet utilization rate in vessels in orderbook 1983 a
Slide 14: Agenda
Agenda 1. WAWI in brief 2. Market update 3. Financial update 4. Investment highlights
Slide 15: EBITDA of USD 223m in Q3, highest quarterly level since the merger in 2017
EBITDA of USD 223m in Q3, highest quarterly level since the merger in 2017 RESULTS (USDm) KEY FINANCIAL METRICS Total revenue Adjusted EBITDA ROCE (%) Q2-21 Q3-21 978 990 205 223 +4.0 6.4 Group 697 152 +2.6 Net profit 17 65 757 787 195 163 485 Adj. EBITDA Shipping 106 margin 20.9% 22.5% Equity r
Slide 16: Solid balance sheet and strong liquidity position
Solid balance sheet and strong liquidity position COMMENTS BALANCE SHEET 30.09.2021 LIQUIDITY POSITION 30.09.2021 USD billion USD million • Equity ratio at 35.7% Assets Equity & Liabilities • Solid liquidity position of USD 936m 7.5 7.5 349 936 • Net debt at USD 3.4bn • Raised NOK 2bn in bonds at 2.
Slide 17: Clear priority to return to the dividend policy
Clear priority to return to the dividend policy RESILIENT FREE CASH FLOW, UTILIZED TO …1 …REACH LONG TERM FINANCIAL PRIORITIES USD million Reduce leverage further from current 4.8x 180 178 176 • Significantly down from pandemic peak at 6.5x 160 Pay regular dividends in line with policy 140 • WAWI ai
Slide 18: Agenda
Agenda 1. WAWI in brief 2. Market update 3. Financial update 4. Investment highlights
Slide 19: Investment highlights
Investment highlights Global market leader – vehicle logistic segment Long-term customer base – diversified business model Strong history of free cash flow – policy to pay regular dividends Solid market fundamentals – high economic activity after 2020 Long term commitment to sustainability – ambitio