Wilh. Wilhelmsen Holding Asa Class A · OSL:WWI
Wilh. Wilhelmsen Holding Asa Class A — Q1 2026 Earnings Presentation
20 slides from Wilh. Wilhelmsen Holding Asa Class A's earnings presentation, May 6, 2026
Slide 1: Wilh. Wilhelmsen Holding ASA First quarter 2026
Wilh. Wilhelmsen Holding ASA First quarter 2026 6 May 2026
Slide 2: Highlights Q1 2026
Highlights Q1 2026 Wilh. Wilhelmsen Holding ASA 223 USD million revenue 32 USD million EBITDA 84 USD million revenue 21 USD million EBITDA 61 USDM share of profit 25 USDM share of profit 113 USD million net profit 2.68 EPS • Stable underlying • Continued high activity levels • Continued solid contri
Slide 3: Improved performance year-over-year with solid performance in operating businesses
Improved performance year-over-year with solid performance in operating businesses Wilh. Wilhelmsen Holding ASA YoY/ Q1 2026 Q4 2025 Q1 2025 QoQ Total income 308 310 297 USD 308 million total income • USD 223 million in Maritime Services • USD 84 million in New Energy EBITDA 50 45 46 USD 50 million
Slide 4: Stable underlying performance in all business units
Stable underlying performance in all business units Maritime Services 223 • 5% increase YoY • Increase across all business units YoY 300 Total income USD million Total income (USD m) • QoQ increase due to 200 higher income in Ship Services Total income 100 — 32 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3
Slide 5: Continued strong total income and EBITDA
Continued strong total income and EBITDA New Energy 84 • 2% increase YoY driven by Total income continued strong activity 100 level in NorSea USD million Total income (USD m) total income • QoQ seasonal decline 50 — Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 21 2023 2023 2023 2023 2024 2024 2024 2024 20
Slide 6: Solid contribution from associates
Solid contribution from associates Strategic Holdings and Investments 86 • USD 66 million from Wallenius Wilhelmsen 200 Share of profits from associate USD million • USD 33 million from share of profit Hyundai Glovis from associates UDS m 100 — 162 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'
Slide 7: USD 159 million in cash from operating activities and associates
USD 159 million in cash from operating activities and associates Wilh. Wilhelmsen Holding ASA Cash flow – YTD Q1’26 (USD million) -72 0 -15 164 280 -9 2 214 -28 6 17 -5 93 -24 31.12.2025 Operating Operating Operating Dividend Other Dividend and Net debt issue/ Other FX effect on 31.03.2026 Maritime
Slide 8: 75% equity ratio, moderate leverage and solid liquidity position
75% equity ratio, moderate leverage and solid liquidity position Wilhelmsen group total assets and equity ratio Debt maturity profile 4.8 4.5 100.0% 400 4.4 4.4 4.3 USD million 4.0 4.0 3.7 3.8 3.8 3.8 3.6 3.6 3.6 80.0% 200 3.6 75% Equity ratio (%) 60.0% — USD billion Due in 1 year Due in 2 years Due
Slide 9: AGM approved dividend of NOK 20.00 per share
AGM approved dividend of NOK 20.00 per share Board authority to distribute additional dividend of up to NOK 8.50 per share and share buybacks Dividend payments 1) Cash to shareholders 2) NOK/share Yield (%) USD million. 30,00 121 118 117 25,00 20,00 15,00 51 10,00 5,00 0,00 2022 2023 2024 2025 2026
Slide 10: Outlook
Outlook Wilh. Wilhelmsen Holding ASA Wilhelmsen retains a strong balance sheet, solid liquidity reserves, and a balanced portfolio of leading maritime operations and investments. However, considerable uncertainty persists, specifically regarding geopolitical tension, the ongoing conflict in the Midd
Slide 11: Maritime Services New Energy Strategic Holdings and Investments
Maritime Services New Energy Strategic Holdings and Investments Group competitive advantages: Group investment focus: - Solid reputation with strong - Industrial platforms financial position - Sustainable products - Sustainable operations with an and services unparalleled global network - Global pot
Slide 12: Supplementary slides - First quarter 2026
Supplementary slides - First quarter 2026 Group quarterly results Maritime Services Ships Service Port Services Ship Management New Energy NorSea Strategic Holdings and Investments Wallenius Wilhelmsen ASA Hyundai Click Glovis Co.,Ltd. to edit Financial investments
Slide 13: Q1 2026 results
Q1 2026 results Wilh. Wilhelmsen Holding ASA USD mill Q1 2026 Q4 2025 Q-on-Q Q1 2025 Y-o-Y change change Total income 308 310 (1)% 297 4% of which operating revenue 308 310 (1)% 297 4% of which other gain/(loss) — — (276)% (1) EBITDA 50 45 13 % 46 10 % Operating profit/EBIT 32 26 21 % 32 1% Share of
Slide 14: Ships Service
Ships Service Wilhelmsen Ships Service offers a portfolio of maritime solutions to the merchant fleet and is fully owned by Wilhelmsen. Q1 2026 highlights Total Income 2% 5% 150 100 USD million 50 — Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Total income • Total in
Slide 15: 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 2026 highlights Total Income 11% (7)% 50 40 30 USD million 20 10 — Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q
Slide 16: 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 2026 highlights Total Income 4% (7)% 60 50 40 USD million 30 20 10 — Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'2
Slide 17: NorSea
NorSea NorSea provides supply bases and integrated logistics solutions to the offshore industry. NorSea is owned 99.7% by Wilhelmsen. The remaining 0.3% is held by NorSea management. Q1 2026 highlights Total Income 125 2% (6)% 100 75 USD million 50 25 — • Total income for NorSea was USD 83 million i
Slide 18: Wallenius Wilhelmsen
Wallenius Wilhelmsen 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 an associate. Q1 2026 highlights Market value of Wilhelmsen's investment 2 500 702 342 2 000 1 500 USD millio
Slide 19: Hyundai Glovis
Hyundai Glovis Wilhelmsen holds a 11.0 % ownership interest in Hyundai Glovis Co., Ltd. (Hyundai Glovis). Hyundai Glovis is reported as an associate. Q1 2026 highlights Market value of Wilhelmsen's investment 92 1 250 1 000 750 USD million 500 250 — Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1
Slide 20: Financial investments
Financial investments Financial investments include cash and cash equivalents, current financial investments, and other financial assets held by the parent and fully owned subsidiaries, reported under the Strategic Holdings and Investments segment. Q1 2026 highlights Market value of Wilhelmsen's inv
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