Wilh. Wilhelmsen Holding Asa Class A · OSL:WWI
Wilh. Wilhelmsen Holding Asa Class A — Q2 2026 Earnings Presentation
21 slides from Wilh. Wilhelmsen Holding Asa Class A's earnings presentation, Aug 12, 2026
Slide 1: Wilh. Wilhelmsen Holding ASA
Wilh. Wilhelmsen Holding ASA Second quarter and half year 2026 12 August 2026
Slide 2: Continued solid performance and robust outlook
Continued solid performance and robust outlook Solid performance from operating businesses, with total income of USD 320 million and EBITDA of USD 62 million USD 112 million in share of profits from JVs and associates driven by solid underlying performance and gain from sale Paid dividend of NOK 20
Slide 3: Business highlights Q2 2026
Business highlights Q2 2026 Wilh. Wilhelmsen Holding ASA Maritime Services New Energy • Underlying performance from associates • Solid performance across business units • Continued strong activity levels in NorSea remains robust • Effects from performance improvement • Results supported by high proj
Slide 4: Second quarter and half year 2026 financials
Second quarter and half year 2026 financials Wilh. Wilhelmsen Holding ASA
Slide 5: Total income and EBITDA up YoY and QoQ
Total income and EBITDA up YoY and QoQ Wilh. Wilhelmsen Holding ASA Q2 2026 Q1 2026 Q2 2025 QoQ YoY Total income 320 308 315 k k USD 320 million total income • USD 228 million in Maritime Services EBITDA 62 50 48 k k • USD 91 million in New Energy USD 62 million EBITDA Share of profit from JVs/ass 1
Slide 6: Solid performance in all business units
Solid performance in all business units Maritime Services 228 • 7% increase YoY • Increase in Ship Services and Port Services 300 Total income USD million Total income (USD m) total income • Ship Management 200 relatively stable 100 — 39 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4
Slide 7: Continued high activity and positive JV results
Continued high activity and positive JV results New Energy 91 • 8% decrease YoY from Total income historically strong Q2 2025, 100 increase from seasonally USD million Total income (USD m) softer Q1 total income • Continued strong activity 50 level in NorSea — Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 8: Robust underlying performance from associates
Robust underlying performance from associates Strategic Holdings and Investments 74 • USD 48 million from Wallenius Wilhelmsen 200 Share of profit from associates USD million • USD 27 million from share of Hyundai Glovis profit from UDS m 100 associates — 32 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24
Slide 9: USD 384 million in cash from operating activities and associates
USD 384 million in cash from operating activities and associates Wilh. Wilhelmsen Holding ASA Cash flow – YTD Q2’26 (USD million) -184 338 -127 47 -36 -19 249 -26 7 214 34 46 154 -172 31.12.2025 Operating Operating Operating Dividend Other Dividend and Net debt issue/ Other FX effect on 30.06.2026 M
Slide 10: 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 6.0 100.0% 300 USD million 4.7 200 4.4 4.4 4.5 80.0% 4.5 4.3 75% 4.0 4.0 100 3.7 3.8 3.8 3.8 3.6 3.6 Equity ratio (%) 60.0% USD billion — 3.0 Due in 1 year Due in 2 y
Slide 11: Dividend of NOK 20.00/share, buyback of shares
Dividend of NOK 20.00/share, buyback of 470 917 shares 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 30,00 164 25,00 121 117 20,00 15,00 10,00 51 5,00 0,00 2022 2023 2024 2
Slide 12: Outlook
Outlook Wilh. Wilhelmsen Holding ASA Strategic Maritime Services New Energy Holdings and Investments Wilhelmsen retains a strong balance sheet, solid liquidity reserves, and a balanced portfolio of leading maritime operations and investments. However, considerable uncertainty persists, specifically
Slide 13: Supplementary slides - Second quarter and half year 2026
Supplementary slides - Second quarter and half year 2026 Group quarterly results Maritime Services Ships Service Port Services Ship Management New Energy NorSea Strategic Holdings and Investments Wallenius Wilhelmsen ASA Click to edit Hyundai Glovis Co.,Ltd. Financial investments
Slide 14: Q2 2026 results
Q2 2026 results Wilh. Wilhelmsen Holding ASA USD mill Q2 2026 Q1 2026 Q-on-Q Q2 2025 Y-o-Y change change Total income 320 308 4% 315 2% of which operating revenue 320 308 4% 316 1% of which other gain/(loss) (2) EBITDA 62 50 23 % 48 30 % Operating profit/EBIT 41 32 28 % 28 45 % Share of profit/(loss
Slide 15: Ships Service
Ships Service Wilhelmsen Ships Service offers a portfolio of maritime solutions to the merchant fleet and is fully owned by Wilhelmsen. Q2 2026 highlights Total Income 5% 5% 150 100 USD million 50 — Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Total income • Total in
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. Q2 2026 highlights Total Income 16% 10% 60 50 40 USD million 30 20 10 — Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25
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. Q2 2026 highlights Total Income (4)% (2)% 60 50 40 USD million 30 20 10 — Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3
Slide 18: 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. Q2 2026 highlights Total Income 125 (9)% 9% 100 75 USD million 50 25 — • Total income for NorSea was USD 90 million i
Slide 19: 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. Q2 2026 highlights Market value of Wilhelmsen's investment 2 500 807 117 2 000 1 500 USD millio
Slide 20: 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. Q2 2026 highlights Market value of Wilhelmsen's investment (130) 1 250 1 000 750 USD million 500 250 — Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25
Slide 21: 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. Q2 2026 highlights Market value of Wilhelmsen's inv
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