Wallenius Wilhelmsen releases 2024 annual report, highlighting another record-breaking year

21 Mar 2025 08:30 CET

OSLO 21.03.2025 – Delivering all-time high, full-year results for 2024,
Wallenius Wilhelmsen’s financial performance surpasses its record 2023. In
addition, the company continued to deliver for its shareholders, customers,
stakeholders and employees.

“2024 has been a strong year for Wallenius Wilhelmsen. Our safety statistics are
strengthened, our customers are happier with our services and our global team is
more engaged. Our emissions continue to be reduced year over year, and we
delivered the best financial results in our history”, says Lasse Kristoffersen,
President and CEO of Wallenius Wilhelmsen.

Adjusted EBITDA for 2024 was USD 1,901m, up from USD 1,807m in 2023. This
resulted in a ROCE of 19,9%, an equity ratio at 39,5% and a leverage ratio of
0.9. Net profit in 2024 was USD 1,065m compared to USD 967m in 2023.  

Total revenue was USD 5,308 million for the year 2024, an increase of 3 percent
compared to 2023. Shipping revenues were up 1 percent year-over-year (YoY) to
USD 3,937m in 2024. Capacity constraints because of the continued re-routing of
vessels via the Cape of Good Hope negatively impacted volumes. Shipping
experienced an 8 percent drop in transported volumes year-over-year. However,
the lower volumes were more than offset by increased average rates driven by the
continued repricing of the book of business.

Positive contributions from all segments
Total revenue was USD 5,308 million for the year 2024, an increase of 3 percent
compared to 2023. Shipping revenues were up 1 percent year-over-year (YoY) to
USD 3,937m in 2024. Capacity constraints because of the continued re-routing of
vessels via the Cape of Good Hope negatively impacted volumes. Shipping
experienced an 8 percent drop in transported volumes year-over-year. However,
the lower volumes were more than offset by increased average rates driven by the
continued repricing of the book of business.

Revenues in the Logistics segment were up 5 percent, to USD 1,205m, as volumes
increased due to less disruptions in supply chains. Government revenue increased
32 percent to USD 427 million, mainly due to increased U.S. flag cargo activity.

All-time high dividend payments
For the second half of 2024, the Board approved a dividend of USD 1.24 per
share, which amounts to a total dividend payout of USD 524m. The highest
dividend paid in the company’s history, Wallenius Wilhelmsen intends to continue
paying dividends at the top-end of its pay-as-you-go policy, including
extraordinary payments when the financial position allows.

The dividend linked to 2024 earnings totals USD 1.85 per share.

“Our strong financial position allowed us to invest heavily into our business
and pay record dividends to our shareholders. We are dedicated to delivering
long-term value to all our stakeholders by striking a sustainable balance
between investments and returns”, says Kristoffersen.

Uniquely positioned for the future
As a global shipping and logistics company, Wallenius Wilhelmsen navigates a
rapidly changing and complex world of market and geopolitical uncertainty.
However, despite this, the company remains committed to its mission and building
for the future.

"Thanks to the outstanding achievements of our team, we are in a unique position
to lead the way towards connected, sustainable supply chains. We will do this by
continuing to be our customers’ first choice in all our businesses,
differentiate through integrated solutions, make net-zero available and
affordable and with that, create sustainable value for all our stakeholders.
From a solid financial position, a substantial book of business, and strong
partnerships, we are well-positioned for 2025 and expect that to be another
strong year," says Kristoffersen.

2024 highlights: 
* A record FY2024 with adjusted EBITDA of USD 1,901m and Net Profit of USD
1,065m 
* Announced dividend of USD 1.85 per share linked to 2024 earnings totals
* USD 8.9bn worth of contracts above USD 100m in value announced in 2024 
* Hyundai/Kia contract renewed for five years with a value of around USD 4.2bn -
increasing our share of their export volume to 50% 
* Our near-term and net-zero science-based greenhouse gas emission reduction
targets were validated by the Science Based Targets initiative (SBTi)
* Extended the Shaper Class newbuild program - total order is now seven 9,300
CEU and seven 12,100 CEU vessels to be delivered from 2026 through 2028 
* Our scope 1 Shipping emissions were 4,162,261 mt CO2e in 2024, equivalent to
4,897,960 mt CO2e on a WTW basis. This is a reduction of 1 percent year on year
and a 7 percent reduction since the base year (and in alignment with our
Science-Based Target trajectory). Our GHG intensity was 60.56 gCO2e per
tonne-nm, well ahead of our target of 62.65.


About the report
Wallenius Wilhelmsen’s 2024 Annual Report is produced in line with the Corporate
Sustainability Reporting Directive (CSRD) and the European Sustainability
Reporting Standards (ESRS) as required by amendments to the Norwegian Accounting
Act.

Read our 2024 annual report here:
https://www.walleniuswilhelmsen.com/who-we-are/investors/annual-report


For further information, please contact:  
Anders Redigh Karlsen – VP Global IR & Market Insight  
Tel: +47 994 20 293  
Email: anders.karlsen@walwil.com   
 
David Hopkins – External Communications Manager  
Tel: +47 942 88 486  
Email: david.hopkins@walwil.com   


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 125 vessels servicing 15 trade routes to six continents, a
global inland distribution network, 66 processing centers, and eight marine
terminals. With its head office in Oslo, Norway, the Wallenius Wilhelmsen group
has around 9,500 employees in 28 countries worldwide. Read more at
www.walleniuswilhelmsen.com

More information:
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641921_549300NBN0URT3RA3Y54-2024-12-31-0-en.zip
641921_2024 Annual report.pdf