Wilh. Wilhelmsen Holding ASA Class A · OSL:WWI
Wilh. Wilhelmsen Holding ASA Class A — Q3 2023 Earnings Presentation
23 slides from Wilh. Wilhelmsen Holding ASA Class A's earnings presentation, November 2023
Slide 1: Wilh. Wilhelmsen Holding ASA Third quarter 2023
Wilh. Wilhelmsen Holding ASA Third quarter 2023 November 2023
Slide 2: Highlights Q3 2023
Wilh. Wilhelmsen Holding ASA Highlights Q3 2023 Stable operating results - On level with last year but below second quarter. - USD 24 million EBITDA in Maritime Services. - USD 14 million EBITDA in New Energy. Continued strong contribution from joint ventures and associates - USD 113 million share o
Slide 3: ESG
Wilh. Wilhelmsen Holding ASA ESG Internal ESG index measures performance: - Decarbonisation and green growth - Health and safety - Equality, diversity and inclusion - Compliance and value chain management Highlights Q3 2023 - Greenhouse gas emissions reduction - Lost time injury frequency rate (LTIF
Slide 4: Maritime Services: Higher income and reduced operating margin
Maritime Services Higher income and reduced operating margin Total income and adjusted EBITDA margin *) USD 178 million total income • Up 14% y-o-y. Total income EBITDA USD million margin (adj.) • Income up for all main activities. 250 25% • Lifted by volume growth, new acquisitions, and inflationar
Slide 5: New Energy: Stable income – improved margin
New Energy Stable income – improved margin Total income and adjusted EBITDA margin *) USD 74 million total income • Down 2% y-o-y. Total income EBITDA USD million margin (adj.) • Higher income in NorSea (Energy Infrastructure) offset by loss of 120 40% income from NorSea Wind. 100 -2% +1% USD 14 mil
Slide 6: Continued high contribution from Wallenius Wilhelmsen
Strategic Holdings and Investments Continued high contribution from Wallenius Wilhelmsen Direct investments – Value adjusted USD 132 million share of profit from associates (WAWI and TRE based on share price, other financial investments based on account value) • USD 113 million from Wallenius Wilhel
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, supply chain issues, and geopolitical tension, the group retains its capac
Slide 8: Financials
Wilh. Wilhelmsen Holding ASA Third quarter 2023 Financials November 2023
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 Q3'23 Q2'23 Change Q3'22 Change Total income 253 259 -2% 234 8% - of which operating revenue 254 261 -2% 236 8% - of which gain/(loss) on sale of assets (1) (2) (2) EBITDA 36 39 -8% 36 1% O
Slide 10: USD 242 million in cash from operating activities and associates (YTD Q3'23)
Wilh. Wilhelmsen Holding ASA USD 242 million in cash from operating activities and associates (YTD Q3’23) Cash flow – YTD Q3’23 (USD million) 33 111 -35 19 -50 38 -78 -55 73 186 163 12/31/2022 Operating Operating Operating Investing Dividend Net debt Other 9/30/2023 Maritime New other activities and
Slide 11: 70% equity ratio and long-term financing structure
Wilh. Wilhelmsen Holding ASA 70% equity ratio and long-term financing structure Wilhelmsen group total assets and equity ratio Debt maturity profile USD million Equity ratio USD million. 5 000 70% 75% 300 276 250 4 000 210 50% 200 3 000 150 2 000 25% 100 1 000 42 32 50 27 0 0% 0 Q3 Q3 Q3 Q2 Q3 Due i
Slide 12: Second dividend of NOK 4.00 per share payable 22 November
Wilh. Wilhelmsen Holding ASA Second dividend of NOK 4.00 per share payable 22 November First dividend of NOK 6.00 per share paid 16 May Dividend payments 1) Cash to shareholders 2) NOK/share Yield (%) USD million. 10,00 5 70 9,00 60 4 55 8,00 51 7,00 50 42 6,00 3 40 5,00 32 30 4,00 2 3,00 20 2,00 1
Slide 13: istomer centered * Empowerment * Stewardship
istomer centered * Empowerment * Stewardship
Slide 14: Supplementary slides – Third quarter 2023
Supplementary slides – Third quarter 2023 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. Q3’23 highlights Total income • Total income for Ships Service was USD 115 million. This was up 15% +15% -3% USD million from the correspondin
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. Q3’23 highlights Total income • Total income for Port Services was USD 37 million. This was up 10% from +10% -2% USD mi
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. Q3’23 highlights Total income +26% -2% • Total income for Ship Management was USD 22 million, up 26% from
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. Q3’23 highlights Total income • Total income for NorSea was USD 74 million in the third quarter, up USD million 15% 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. Q3’23 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. Q3’23 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 78.5% of Treasure ASA. Q3’23 highlights Market value of Wilhelmsen’s investment • Share of profit from Hyundai Glovis was included with USD 20 million f
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. Q3’23 highlights Market value of Wilhelmsen’s financial inv
Slide 23: Slide 23
Wilh. Wilhelmsen Holding — Q3 2023 Earnings Presentation on 6ix