Wilh. Wilhelmsen Holding ASA: Fourth quarter 2024 results

12 Feb 2025 20:00 CET

Solid performance from the operating businesses delivered an EBITDA of USD 37
million in the fourth quarter. The Wilhelmsen group further received strong
contributions from associates. This resulted in a profit of USD 94 million for
the period.

Total income for the group was USD 278 million, up 9% from the fourth quarter of
2023, but down 6% from the previous quarter. EBITDA ended at USD 37 million, up
12% from the corresponding period last year, but down 3% from the previous
quarter.

“Our operating businesses continue to deliver strong results, with good annual
growth. Paired with continuously high contributions from our key strategic
investments in Wallenius Wilhelmsen and Hyundai Glovis, I am pleased to see a
strong momentum as we continue to build for future success,” says Thomas
Wilhelmsen, group CEO.

The Maritime Services segment had a total income of USD 202 million in the
fourth quarter. This was up 8% from the corresponding period last year. Income
was impacted by revenue recognition from the acquisition of Zeaborn Ship
Management. Excluding income from the Zeaborn acquisition, income was up 5%
year-over-year.

Total income for the New Energy segment was USD 75 million, up 11% from the
corresponding period last year, but down 4% from the previous quarter.
Year-over-year, income was lifted by increased activities in NorSea.

The Strategic Holdings and Investments segment reported a USD 115 million profit
to equity holders of the company in the fourth quarter. This was up
year-over-year and from the previous quarter mainly due to higher contribution
from Wallenius Wilhelmsen ASA.

Net profit after financial items and tax was USD 94 million and net profit to
equity holders of the company was USD 91 million, equal to USD 2.13 earnings per
share (EPS).

The board proposes that the Annual General Meeting approves a first dividend of
NOK 12.00 per share and authorises the board to distribute additional dividend
of up to NOK 8.00 per share. This is in line with the targeted 3 – 5% dividend
yield over time.

Commenting on the outlook for the group, Wilhelmsen says:
“While uncertainty persists, specifically regarding geopolitical tension and an
uncertain global trade environment, the group retains its capacity to support
and grow the portfolio, and to deliver consistent yearly dividends.

For further information, please contact:

Investors:
Åge Sturtzel
IRO
Wilh. Wilhelmsen Holding
Tel: (+47) 900 87 670
aage.sturtzel@wilhelmsen.com

Media:
Ole Jakob Ytterdal
VP Corporate Communication
Wilh. Wilhelmsen Holding ASA
Tel: +47 970 88 362
ole.j.ytterdal@wilhelmsen.com

About Wilhelmsen
Founded in Norway in 1861, Wilhelmsen is a comprehensive global maritime group.
Committed to shaping the maritime industry, through our market-leading products,
services, and support, we also seek to develop new opportunities in renewables,
zero-emission shipping, and marine digitalization. We take innovation,
sustainability, and unparalleled customer experiences one step further.

Read more at: wilhelmsen.com.

More information:
Access the news on Oslo Bors NewsWeb site

638450_Wilhelmsen Q4 2024 presentation.pdf
638450_Wilhelmsen Q4 2024 press release.pdf
638450_Wilhelmsen Q4 2024 report.pdf