Wilh. Wilhelmsen Holding Asa Class A · OSL:WWI
Wilh. Wilhelmsen Holding Asa Class A — Q1 2022 Earnings Presentation
21 slides from Wilh. Wilhelmsen Holding Asa Class A's earnings presentation, May 2022
Slide 1: Wilh. Wilhelmsen Holding ASA First quarter 2022
Wilh. Wilhelmsen Holding ASA First quarter 2022 May 2022
Slide 2: Highlights Q1 2022
Wilh. Wilhelmsen Holding ASA group Highlights Q1 2022 Improved EBITDA - USD 44 million - Step-up gain from increased ownership in Vikan Næringspark - Provisions related to Russian invasion of Ukraine and fraud case Increased share of profit from joint ventures and associates - USD 61 million share o
Slide 3: Maritime Services: Increased income, USD 3 million provision related to Russia-Ukraine
Maritime Services Increased income, USD 3 million provision related to Russia-Ukraine Total income and adjusted EBITDA margin *) USD 154 million total income Total income EBITDA • Up 18% y-o-y. USD mill margin (adj.) • Income was up for Marine Products, Ships Agency and Ship 180 +18% +1% 25% Managem
Slide 4: New Energy: Continued year-over-year increase in income, stable underlying EBITDA
New Energy Continued year-over-year increase in income, stable underlying EBITDA Total income and adjusted EBITDA margin *) USD 93 million total income • Up 32% y-o-y Total income EBITDA USD mill margin (adj.) • Up 8% adjusted for step-up gain. 120 40% • USD 17 million step-up gain from the change i
Slide 5: Strategic Holdings and Investments: Further increase in asset market value
Strategic Holdings and Investments Further increase in asset market value driven by Wallenius Wilhelmsen Direct investments – Value adjusted USD 61 million share of profit from associates (WAWI and TRE based on share price, other financial investments based on account value) • Strong increase in Wal
Slide 6: Outlook
Wilh. Wilhelmsen Holding ASA group Outlook Maritime Services High activity level within most shipping segments expected to continue. Ships Services will be re-organized and Ships Agency activities separated into a new entity named Port Services. New Energy Seasonality to lift NorSea Group income nex
Slide 7: Financials
Wilh. Wilhelmsen Holding ASA First quarter 2022 Financials May 2022
Slide 8: Improved EBITDA, profit from JVs and associates, and financials
Wilh. Wilhelmsen Holding ASA group – Q1 2022 Improved EBITDA, profit from JVs and associates, and financials Q-on-Q Y-o-Y USD million Q1'22 Q4'21 Change Q1'21 Change Total income 241 233 3% 201 20% - of which operating revenue 232 228 2% 203 14% - of which gain/(loss) on sale of assets 9 5 (2) EBITD
Slide 9: Low operating cash flow; investing in New Energy
Wilh. Wilhelmsen Holding ASA group Low operating cash flow; investing in New Energy Cash flow – YTD Q1’22 (MUSD) 231 20 -16 -1 -44 0 5 -12 183 12/31/2021 Operating Operating Operating Investing Dividend Net debt Other 3/31/2022 Maritime New other activities and issue/repayment financing Services Ene
Slide 10: Maritime Services loan to be refinanced in 2022, New Energy loan in 2023
Wilh. Wilhelmsen Holding ASA group Maritime Services loan to be refinanced in 2022, New Energy loan in 2023 Wilhelmsen group total assets and equity ratio Debt maturity profile USD mill Equity ratio USD mill. 4 000 70% 292 300 65% 60% 240 250 3 000 50% 200 2 000 40% 150 30% 84 88 100 1 000 20% 50 21
Slide 11: First dividend of NOK 4,00 per share
Wilh. Wilhelmsen Holding ASA group First dividend of NOK 4,00 per share Potential second dividend of up to NOK 3,00 per share Dividend payments 1) Cash to shareholders 2) NOK/share Yield (%) USD mill. 8,00 8 70 7,00 7 60 55 6,00 6 50 5,00 5 42 40 35 4,00 4 31 30 3,00 3 20 2,00 2 9 10 1,00 1 0,00 0 0
Slide 12: istomer centered * Empowerment * Stewardship
istomer centered * Empowerment * Stewardship
Slide 13: Supplementary slides – First quarter 2022
Supplementary slides – First quarter 2022 Maritime Services Ships Service Ship Management New Energy NorSea Group Edda Wind ASA Strategic Holdings and Investments Wallenius Wilhelmsen ASA Treasure ASA Financial investments
Slide 14: Ships Service
Ships Service Wilhelmsen Ships Service is a global provider of standardised product brands and service solutions to the maritime industry, focusing on Marine Products and Ships Agency. Wilhelmsen Ships Service is fully owned by Wilhelmsen. Q1’22 highlights Total income • Total income for Ships Servi
Slide 15: Ship Management
Ship Management Wilhelmsen Ship Management provides full technical management, crewing and related services for all major vessel types. Wilhelmsen Ship Management is fully owned by Wilhelmsen. Q1’22 highlights Total income • Total income for Ship Management was USD 16 million, up 37% from the corres
Slide 16: NorSea Group
NorSea Group NorSea Group provides supply bases and integrated logistics solution to the offshore industry. Wilhelmsen owns 75,2% of NorSea Group (as per 31 March 2022). Q1’22 highlights Total income • Total income for NorSea Group was USD 84 million in the first quarter. +37% +21% Operating revenue
Slide 17: Edda Wind ASA
Edda Wind ASA Edda Wind ASA provides service to the global offshore wind industry and is listed on Oslo Børs. Wilhelmsen owns 25,7% of Edda Winds ASA (as per 31 March 2022). Q1’22 highlights Market value of Wilhelmsen’s investment • Share of profit from Edda Wind ASA is included with nil for the USD
Slide 18: Wallenius Wilhelmsen ASA
Wallenius Wilhelmsen ASA Wallenius Wilhelmsen ASA is a is a market leader in RoRo shipping and vehicle logistics and is listed on Oslo Børs. Wilhelmsen owns 37,8% of Wallenius Wilhelmsen ASA (as per 31 March 2022). Q1’22 highlights Market value of Wilhelmsen’s investment +667 +269 • Share of profit
Slide 19: Treasure ASA
Treasure ASA Treasure ASA holds a 11,0% ownership interest in Hyundai Glovis and is listed on Oslo Børs. Wilhelmsen owns 74,8% of Treasure ASA (as per 31 March 2022). Q1’22 highlights Market value of Wilhelmsen’s investment • Change in fair value of the shareholding in Hyundai Glovis was a USD mill
Slide 20: Financial investments
Financial investments Financial investments include cash and cash equivalents, current financial investments and financial assets held by the parent and fully owned subsidiaries reported under the Strategic Holdings and Investments segment. Q1’22 highlights Market value of Wilhelmsen’s financial inv
Slide 21: Slide 21
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