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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Wallenius Wilhelmsen ASA    WAWI   NO0010571680

WALLENIUS WILHELMSEN ASA

(WAWI)
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Wallenius Wilhelmsen : Covenant waiver secured for credit facility, and support from banks to strengthen liquidity

06/26/2020 | 09:29am EST
Oslo, 26 June 2020 - The Wallenius Wilhelmsen group (OEX: WALWIL) has reached an
agreement with its lenders to waive a NIBD/EBITDA covenant, and to defer
instalments on certain bank loans 

Due to the impact of site closures in the landbased business as a result of
measures to reduce the spread of COVID-19, Wallenius Wilhelmsen noted in the Q1
2020 report that there is a risk of a breach of a NIBD/EBITDA covenant in a
revolving credit facility for the group's subsidiary WW Solutions per end of the
second quarter of 2020. The company has now reached an agreement with the
relevant lenders to waive this covenant for the remainder of 2020 before it is
gradually reset in 2021.

Furthermore, to strengthen the cash position during the period of reduced
activity, the company has agreed with the banks of WW Ocean to defer instalments
of about USD 70 million, previously scheduled for the second half of 2020. 

Wallenius Wilhelmsen took decisive action early to adjust capacity, reduce costs
and protect our cash position through this turbulent phase. During the Covid-19
pandemic, our focus has been, and will continue to be, the safety of our
employees and surrounding communities, as well as adapting our operations to
best meet our customers evolving needs.


About Wallenius Wilhelmsen
The Wallenius Wilhelmsen group (OEX: WALWIL) is a market leader in RoRo shipping
and vehicle logistics, transporting cars, trucks, rolling equipment and
breakbulk around the world. The company operates around 125 vessels servicing 15
trade routes to six continents, and a global inland distribution network, 120
processing centres, and 11 marine terminals. The Wallenius Wilhelmsen group
consist of Wallenius Wilhelmsen Ocean, Wallenius Wilhelmsen Solutions, EUKOR and
ARC. The group is headquartered in Oslo, Norway with 9 500 employees in 29
countries worldwide. Read more at walleniuswilhelmsen.com


For further information, please contact:
Astrid Martinsen, Head of Group Treasury & IR 
Tel +47 958 45 255 
email: astrid.martinsen@walleniuswilhelmsen.com 

Anna Larsson, Head of Corporate Communication 
Tel: +47 484 06 919 
email: anna.larsson@walleniuswilhelmsen.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials (USD)
Sales 2020 2 958 M - -
Net income 2020 -236 M - -
Net Debt 2020 3 220 M - -
P/E ratio 2020 -4,38x
Yield 2020 -
Capitalization 1 188 M 1 184 M -
EV / Sales 2020 1,49x
EV / Sales 2021 1,08x
Nbr of Employees 9 500
Free-Float 24,2%
Chart WALLENIUS WILHELMSEN ASA
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Wallenius Wilhelmsen ASA Technical Analysis Chart | WAWI | NO0010571680 | MarketScreener
Technical analysis trends WALLENIUS WILHELMSEN ASA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 3,23 $
Last Close Price 2,81 $
Spread / Highest target 26,5%
Spread / Average Target 15,0%
Spread / Lowest Target -2,04%
EPS Revisions
Managers and Directors
NameTitle
Craig Louis Jasienski Chief Executive Officer
Lars Håkan Larsson Chairman
Torbjørn Mogård Wist Chief Financial Officer
Marianne Lie Independent Director
Thomas Wilhelmsen Director
Sector and Competitors