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

WALLENIUS WILHELMSEN ASA

(WAWI)
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Wallenius Wilhelmsen : reports EBITDA of USD 152m as volumes rebounded in Q3

11/10/2020 | 12:35pm EST
Oslo, 10 November 2020: Wallenius Wilhelmsen reports EBITDA of USD 152m for Q3
2020, as volumes recovered from the lows in Q2. Actions to adjust fleet capacity
and reduce costs contributed to support earnings. 

Total revenue in Q3 2020 was USD 697m, down 27% compared to Q3 2019 due to lower
revenues in both the ocean and landbased segments. The decrease in ocean revenue
was a result of lower volumes, down 23% y-o-y, lower net freight earned per
cubic meter, and lower fuel surcharge revenue. Landbased revenue experienced a
YoY decrease following lower volumes.  

"It is encouraging to see volumes improving from the Q2 low, and I am proud of
our employees' efforts to maintain tight cash focus while also delivering a
reliable and high-quality service to our customers. However, given current
unpredictability we remain prudent and are prepared for volatility in volumes
until markets normalise," says Craig Jasienski, President & CEO of Wallenius
Wilhelmsen.

The COVID-19 pandemic is affecting demand for vehicles and equipment, impacting
production output with social distancing and lockdowns, causing volatile
production patterns and disrupting supply chains - all impacting the group's
operations. Wallenius Wilhelmsen is taking a preventative and proactive approach
to the COVID-19 pandemic, with priority on the welfare of our employees and
community, as well as the needs of our customers. 

While demand has improved from lows earlier this year, sales patterns remain
unstable. Looking into 2021, the potential impact on production from increased
virus intensity in parts of the world is hard to predict. For the fourth
quarter, the group expects ocean volumes to be down around 5% versus the fourth
quarter of 2019. 

The group has taken a range of actions to adjust capacity, reduce costs and
protect its liquidity position through this turbulent phase. The measures put in
place to protect and strengthen cash flow resulted in a cash position of USD
600m at the end of Q3, up from USD 539m in Q2, supported by USD 282m of undrawn
credit facilities. 



For further information, please contact: 

Astrid Martinsen, Head of Group Treasury & IR 
Tel: +47 958 45 255 
Email: astrid.martinsen@walleniuswilhelmsen.com

Esben Tuman, Head of Corporate Communications 
Tel: +47 905 08 400 
Email: esben.tuman@walleniuswilhelmsen.com

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 120 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

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 -4,23x
Yield 2020 -
Capitalization 1 148 M 1 151 M -
EV / Sales 2020 1,48x
EV / Sales 2021 1,07x
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 2,72 $
Spread / Highest target 30,8%
Spread / Average Target 18,9%
Spread / Lowest Target 1,29%
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