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Oslo, 11 February 2020 - Wallenius Wilhelmsen reports adjusted EBITDA of USD 194 million, up USD 26 million compared to last year but with underlying performance down due to reduced volumes. The Board of Directors proposes a dividend of up to USD 14 cents per share for 2019. Total income for the group was USD 932 million in the fourth quarter, down 9% compared to the same period last year as a result of lower revenues in both the ocean and landbased business. The decrease in both ocean and landbased revenues was primarily a result of lower volumes. An important driver behind the reduced ocean volumes are commercial priorities where Wallenius Wilhelmsen has chosen not to renew contracts or carry cargo at unprofitable rate levels. However, volumes are also being impacted by slower markets in both auto and high & heavy segments. Adjusted EBITDA in the fourth quarter of 2019 was USD 194 million, up by USD 26 million compared to last year. With USD 41 million positive impact related to the implementation of IFRS 16, underlying result are down compared to fourth quarter last year as a result of lower volumes and costs in connection with the IMO2020 transition of USD 8 million. More efficient operations, higher net freight per CBM and lower net bunker cost continue to have a positive impact on the Ocean EBITDA, and strong project cargo also impacted results favourably. "We continue to manage what we can control, have attracted new business, retained what we wanted and chosen not to renew some business at unviable rate levels. In the face of softening volumes, we have ensured that we have the flexibility to adjust our fleet, to continue to serve our clients' needs and deliver a solid financial result" says Craig Jasienski, President & CEO of Wallenius Wilhelmsen. Dividend proposed The Board has decided to propose an ordinary dividend of 7 cents per share to the Annual General Meeting in April 2020. The board also proposes that the Annual General Meeting gives the Board authority to approve a second dividend payment of up to USD 7 cents per share for a period limited in time up to the annual general meeting in 2021, but no longer than to 30 June 2021. In total, the proposed dividend for 2019 is equivalent to about USD 60 million. Prospects The board maintains a balanced view on the prospects for Wallenius Wilhelmsen. However, uncertainty remains on the volume outlook in light of weaker sales for both auto and high & heavy. In addition, the outbreak of the novel coronavirus is likely to have some short-term effects on volumes. Rates remain at a low level, and there is still strong competition for tendered volumes. The gradual improvement in tonnage balance is expected to continue, but with more uncertain volume outlook any rate improvements may take longer to materialise. Wallenius Wilhelmsen has a solid platform for growth, an efficient cost base and is well positioned to succeed in a challenging market. Furthermore, continuous focus on efficiency in operations and the flexibility to adjust the fleet will continue to support profitability going forward. 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

Etter stort fall som alle andre selskaper i verdenshandelbransjen har denne falt mye i det siste, og nå er PE på under 4 i et selskap som er i bunn av syklusen.

Men nå som ingen vil fly/kjøre tog/ta buss lengre så vil vel etterspørselen etter privatbiler få seg et løft etterhvert?
fossil
05.03.2020 kl 17:35 807

Problemet her er vel at produksjonen av biler i Korea er sterkt redusert. Dermed lite biler å transportere. p/b er nok en bedre indikator enn p/e på shipping. I følge Bloomberg er den nå på 0,26. Q1 blir nok stygt, men har langsiktig tro på selskapet.
Realist
06.03.2020 kl 14:34 663

Ifølge Finansavisen estimerer Wallenius Wilhelmsen med en nedgang på 20 prosent i ocean-volumer i det første kvartalet sammenlignet med fjoråret.

Bilskipsrederiet og logistikkselskapet blir påvirket av at bilsalget i Kina falt med rundt 80 prosent, og at viruset gjør at færre leverandører ferdigstiller biler.
Realist
06.03.2020 kl 15:15 636

Dette er vel egentlig en Profit Warning:

Wallenius Wilhelmsen: market update
Oslo, 6 March 2020 – The spread of the coronavirus is impacting finished vehicle supply chains, adding to already expected volume reductions. Based on these developments Wallenius Wilhelmsen estimates a 20% reduction in ocean volumes for Q1 2020 compared to Q1 2019.

As the coronavirus situation evolves rapidly, we are following events closely and taking a pro-active and preventative approach towards safeguarding the health, safety and security of our employees, crew and members of the public. Our operations in affected countries are following governmental advice to minimize risk of exposure as well as operational impact.

Since the outbreak of COVID-19 in China, Wallenius Wilhelmsen has been closely monitoring the development of volumes across our trades. Over the past weeks, plant closures in Asia has caused parts shortages, disrupting the inbound supply chain to vehicle production leading to lower output and less volumes shipped. This has added to an expected volume reduction due to selective contracting and already softening sales of vehicles and high & heavy, which is estimated to result in a 20% reduction in ocean volumes for Q1 2020 compared to Q1 2019.

“This is a global issue that strains supply chains and requires a proactive response from us all. We are in close connection with our customers to support them in any changes they need to make, whilst at the same time optimizing operations and leveraging our flexibility to manage costs,” says Craig Jasienski, President & CEO of Wallenius Wilhelmsen.

The company expects an impact into Q2, but the extent will depend on the rate of recovery in Asia, the spread of the coronavirus, the corresponding reaction of global markets and the impact on vehicle sales.

Wallenius Wilhelmsen has a solid operational platform, an efficient cost base, solid balance sheet and cash position, and is well prepared to handle a challenging market. Furthermore, continuous focus on efficiency in operations and the flexibility to adjust the fleet will continue to support profitability going forward.
Celsius
06.03.2020 kl 20:04 584

The Wall....

Om 2 år.....
Matsern
23.03.2020 kl 09:18 331

Höeg skriver på sin side 17 mars

At this time, all the ports we call are fully operational and are following strict health and safety controls. So far, our schedules have not been impacted, however in the rapidly changing coronavirus situation we anticipate that this may have an impact on the industry and our operations.
Realist
23.03.2020 kl 19:40 249

TDN Finans Delayed WALWIL: TREKKER UTBYTTEFORSLAG, INDIKASJON PÅ OVERKAP. PÅ 10-15 SKIP
Oslo (TDN Direkt): Wallenius Wilhelmsen har besluttet å trekke tilbake det foreslåtte utbyttet for 2019. Videre vil selskapet skrape opptil fire skip og forbereder å plassere opptil ti skip i kaldt opplag.

Det fremgår av en melding mandag, der selskapet oppdaterer om deres drift i lys av koronavirusutbruddet.

Skrapingen av skiå er ventet å føre til en mulig nedskrivning på 40 millioner dollar.