Q4 2024 Wilh Wilhelmsen Holding ASA Earnings Call Transcript
Key Points
- Wilh. Wilhelmsen Holding ASA reported a 12% year-over-year increase in EBITDA for maritime services and new energy, indicating strong business performance.
- The company achieved a net profit of $91 million for the fourth quarter, showcasing financial strength.
- Wilh. Wilhelmsen Holding ASA increased its ownership in Treasure ASA from 78% to over 84%, aligning with strategic growth plans.
- The company proposed a dividend of NOK12 with a potential additional NOK8, reflecting a commitment to shareholder returns.
- Strong contributions from Wallenius Wilhelmsen and Hyundai Glovis positively impacted the group's financial results.
- The company faced certain one-off adjustments in the fourth quarter, which affected financial results.
- Impairment losses were recorded due to exiting certain areas or countries, impacting the financial performance.
- Volatility in global trade and geopolitical uncertainties pose challenges to the company's operations.
- Currency fluctuations, particularly the weakening of the Norwegian krone against the US dollar, negatively impacted financial results.
- The company reported two fatalities in the past year, highlighting ongoing challenges in health and safety management.
Good morning. Welcome to the fourth-quarter results for Wilh Wilhelmsen Holding. My name is Thomas Wilhelmsen. This is Christian Berg.
I thought before we dive into the numbers, Christian will share a little bit or talk a little bit about what has happened in the last, say, a couple of weeks or a couple of months. A lot has happened since the last quarter, especially when it comes to, say, the volatility and uncertainty related to world trade.
The Wilhelmsen Group, we are, as everyone following us, very much reliant on global trade and of course more in certain pockets of the company than others. But still, we are very much reliant on it. And the geopolitical scene and the, let's call it, the macroeconomic and world trade scene in terms of tariffs, etc. has changed or at least gotten certain elements to it which has brought some excitement into us and our group.
Yes. Definitely last
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