Thursday , September 29 2022

Strong recovery from Wilhelmsen


Wilh. Wilhelmsen Holding reported Wednesday's third quarter figures.

The result attributed to shareholders last year was minus 23 million dollars in the same way and reached 71 million dollars in Q2, exceeding 266 million.

Earnings per share amounted to $ 0.51 last year and $ 1.53 compared to $ 4.32 in Q2.

The second-quarter profit margin was driven by the $ 250 million decrease in the previous quarter's decline in Hyundai Glovis.

Ebitda, $ 30 million compared to the previous year and Q2 $ 0 million to $ 33 million came in the level.

The base EBITDA increased by 34 percent in the quarter.

Revenues came to $ 104 million in the same way last year and $ 214 million in Q2 for $ 222 million.

"The highest trend trend is reducing shipbuilding revenues, maintaining positive development for seafood and providing revenue growth from ship management," said Thomas Wilhelmsen, CEO of the company.

The investment division reported $ 70 million profit in Q2 for $ 172 million. The development stems from the improvement in Wallenius Wilhelmsen and the correction of the fair value obtained from investments in both Hyundai Glovis and Qube Holdings, according to an announcement.

The company pays dividends at two cents on November 22nd.

In the future, the company will focus on operating margins, increase profitability and grow in maritime services. The company also expects the fourth quarter to be weaker than the third quarter. In addition to the trade war between the US and China, negative emotions towards global trade create uncertainty, the company reports with a message.

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