Wallenius Wilhelmsen: Delivers an exceptional 2022 – strengthening the position as a leading shipping and logistics partner

08 Feb 2023 07:30 CET

Oslo, February 8, 2023 - Wallenius Wilhelmsen reports Q4 2022, its strongest
quarter on record with an EBITDA of USD 488 million, up 11 per cent quarter over
quarter. “2022 was an exceptional year for Wallenius Wilhelmsen and we are in a
very strong position both financially and strategically. As a result we propose
a record dividend to our shareholders,” says Lasse Kristoffersen, President and
CEO at Wallenius Wilhelmsen ASA.

Shipping services continued to deliver record results, with an EBITDA of USD 427
million representing an EBITDA margin above 40 percent. Solid freight rates and
the continued full utilization of the fleet, combined with lower fuel prices and
operational efficiencies contributed to the strong performance. Logistics
services saw continued growth in revenue and EBITDA, on higher volumes at higher
margins. Government services saw strong EBITDA margin improvement in Q4 due to
positive cargo mix, with increased U.S. flag cargo activity.

“In 2023, we expect continued high activity levels across our business despite a
moderate slowdown in volumes for breakbulk and construction machinery, “ says
Kristoffersen.

Highlights from the quarter:
- Q4 EBITDA at all-time high, boosted by margin improvements in all segments
- Full year revenue of USD 5 billion and EBITDA of USD 1.5 billion
- Net debt to adjusted EBITDA of 1.9x, well within the new < 3.5x target
- Proposed FY22 dividend of USD 360 million, 45 percent of net profit
- Pia Synnerman appointed new Chief Customer Officer

“Overall, we expect to further strengthen our financial position in 2023. This
underpins our commitment to remunerate shareholders in accordance with dividend
policy and invest in the future growth of our business,” says CFO Torbjørn Wist.



For further information, please contact:
Anette Orsten, VP Global Treasury & IR
Tel: +47 980 67 912; Email: anette.orsten@walwil.com

Anette Maltun Koefoed, VP Corporate Communications
Tel: +47 975 87 999; Email: anette.maltunkoefoed@walwil.com

Pictures, please see the website:
https://www.walleniuswilhelmsen.com/who-we-are/media

About Wallenius Wilhelmsen:
The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (RoRo)
shipping and vehicle logistics, managing the distribution of cars, trucks,
rolling equipment and breakbulk to customers all over the world.
The company operates around 130 vessels servicing 15 trade routes to six
continents, a global inland distribution network, 120 processing centers and
eight marine terminals.
Headquartered in Oslo, Norway, the Wallenius Wilhelmsen group has 8,700
employees in 29 countries worldwide.
The company's purpose is to build sustainable supply chains, imagining new, more
sustainable solutions for the changing world of mobility and transport on land
and at sea.

Read more at walleniuswilhelmsen.com

More information:
Access the news on Oslo Bors NewsWeb site

581601_Q4 2022 report.pdf