Wilh. Wilhelmsen Holding Asa Class A · OSL:WWI
Wilh. Wilhelmsen Holding Asa Class A — Q4 2020 Earnings Presentation
23 slides from Wilh. Wilhelmsen Holding Asa Class A's earnings presentation, February 2021
Slide 1: Wilh. Wilhelmsen Holding ASA – Fourth quarter and full year 2020
Wilh. Wilhelmsen Holding ASA Fourth quarter and full year 2020 February 2021
Slide 2: Summary of 2020 – Strong recovery after challenging start
Summary of 2020 – Strong recovery after challenging start Wilh. Wilhelmsen Holding ASA Wallenius Wilhelmsen ASA Treasure ASA (WWIA) (WAWI) (TRE)
Slide 3: Summary of 2020 – Strong year despite Covid-19
Summary of 2020 – Strong year despite Covid-19 Generally, the pandemic impacted our businesses negatively first half, but recovered somewhat second half High volatility in underlying volumes and share price in Wallenius Wilhelmsen Ships service revenue down due to lower activities, mainly cruise mar
Slide 4: ESG continued focus in 2020
ESG continued focus in 2020 Milestones – partnerships – future possibilities Source: Rivieramm.com, ship-tecnnology.com, Norwegian media (DN, FA, e24, Stavanger Aftenblad), Maritime Cleantech, www.hellenicshippingnews.com,
Slide 5: Transaction completed
Transaction completed Wilhelmsen Ahrenkiel Ship Management is a technical ship manager for container vessels based in Hamburg, Germany, and in Rhoon, the Netherlands.
Slide 6: Edda Wind 25% transaction completed
Edda Wind 25% transaction completed Major step within offshore wind
Slide 7: Outlook
Outlook Maritime services: • Gradual increase in general activity level • Cruise remains below pre-pandemic levels first half 2021 Supply services: • Seasonality will continue to impact offshore activities Holding and investments: • Car/roro supply-demand balance expected to improve • Volatile finan
Slide 8: Reduced EBITDA, further increase in financial asset values
Wilh. Wilhelmsen Holding ASA group – Q4 2020 Reduced EBITDA, further increase in financial asset values USD mill Q-on-Q Y-o-Y - unless otherwise indicated Q4'20 Q3'20 Change Q4'19 Change Total income 202 198 2% 224 -10 % - of which operating revenue 199 199 0% 225 -11 % - of which gain/(loss) on sal
Slide 9: EBITDA down, net loss associates, strong increase financial assets
Wilh. Wilhelmsen Holding ASA group – Full year 2020 EBITDA down, net loss associates, strong increase financial assets USD mill 01.01- 01.01- Y-o-Y - unless otherwise indicated 31.12.20 31.12.19 Change Total income 812 850 -5 % - of which operating revenue 807 836 -4 % - of which gain on sale of ass
Slide 10: Maritime services: Gradual recovery in income; dip in operating margin
Maritime services Gradual recovery in income; dip in operating margin USD 137 million total income Total income and adjusted EBITDA margin *) • Down 9% y-o-y. Total income EBITDA USD mill margin (adj.) • Sale of marine products and revenue from agency services 160 25% continued the gradual recovery
Slide 11: Supply services: Continued high activity level
Supply services Continued high activity level USD 64 million total income Total income and adjusted EBITDA margin *) • Down 10% y-o-y Total income EBITDA • Stable supply base activities adjusted for seasonality USD mill Margin (adj.) 100 50% • Reduced other activities, partly provided on pass-throug
Slide 12: Holding and investments: Further recovery in financial asset values
Holding and investments Further recovery in financial asset values from first quarter low USD 24 million profit from associates Direct investments – Value adjusted • Solid development in Wallenius Wilhelmsen’s ocean volumes (WAWI and TRE based on share price, other financial investments based on acc
Slide 13: Steady cash flow from operating activities
Wilh. Wilhelmsen Holding ASA group Steady cash flow from operating activities Cash flow – YTD Q4’20 (MUSD) 9 41 59 19 43 51 269 131 153 31.12.2019 Operating Operating Operating Investing Dividend Net debt Other 31.12.2020 maritime supply other activities and repayment financing services services buy
Slide 14: Balance sheet remains solid and with long-term debt maturity profile
Wilh. Wilhelmsen Holding ASA group Balance sheet remains solid and with long-term debt maturity profile Wilhelmsen group total assets and equity ratio Debt maturity profile USD mill USD mill Equity ratio 291 300 4 000 100% 3.488 90% 250 80% 220 3 000 65% 70% 200 60% 150 2 000 50% 40% 100 30% 83 1 00
Slide 15: Board proposes first dividend of NOK 5.00 per share
Board proposes 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 USD NOK/share Yield (%) Million 8.00 8 70 7.00 7 60 6.00 6 50 5.00 5 40 4.0
Slide 16: Supplementary slides – Fourth quarter 2020
Supplementary slides – Fourth quarter 2020 Maritime services Ships service Ship management Supply services NorSea Group Holding and investments Wallenius Wilhelmsen ASA Treasure ASA Financial investments
Slide 17: 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. Q4’20 highlights Total income Total income • Total
Slide 18: Ship management
Ship management Wilhelmsen Ship Management provides full technical management, crewing and related services for all major vessel types, and includes 50% of NorSea Wind. Ship management is fully owned by Wilhelmsen. Q4’20 highlights Total income Material sales gain NorSea Wind (50%) • Total income wa
Slide 19: 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 December 2020). Q4’20 highlights Total income Material sales gain Total income (excl. material sales gain) • Total income was USD 63 million,
Slide 20: Wallenius Wilhelmsen ASA
Wallenius Wilhelmsen ASA Wallenius Wilhelmsen ASA is a global provider of shipping and logistics services towards car and ro-ro customers and is listed on Oslo Børs. Wilhelmsen owns ~37,8% of Wallenius Wilhelmsen ASA (as per 31 December 2020). Market value of Wilhelmsen’s investment in Q4’20 highlig
Slide 21: 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 December 2020, not adjusted for shares held by the company). Q4’20 highlights Market value of Wilhelmsen’s investment in Treasure ASA • In Decemb
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 holding and investments segment. Q4’20 highlights Financial assets, investment portfolio, and cash • US
Slide 23: wilhelmsen.com
wilhelmsen.com
Wilh. Wilhelmsen Holding — Q4 2020 Earnings Presentation on 6ix