Wilh. Wilhelmsen Holding ASA

Latest Results (13.06.2024):

Revenue Overview

In the first quarter of 2024, Wilh. Wilhelmsen Holding ASA reported a total income of USD 264 million, marking a slight increase of 1% from the same period last year and a 3% rise from the previous quarter. The Maritime Services segment showed an increase in revenue, while the New Energy segment experienced a decline year-over-year but increased quarter-on-quarter.

EBITDA Performance

Wilh. Wilhelmsen Holding ASA's EBITDA for the first quarter of 2024 was USD 38 million, which is a decrease of 3% compared to the same period last year but an increase of 16% from the previous quarter. The decrease from the previous year was attributed to higher employee expenses, while the quarterly increase was supported by higher operating revenue.

Profitability and EPS

The company achieved a net profit of USD 113 million before tax and a net profit of USD 108 million for equity holders in the first quarter of 2024. Earnings per share (EPS) stood at USD 2.44. The share of profit from joint ventures and associates significantly contributed to this performance, totaling USD 92 million, an increase from both the previous year and the last quarter.

Dividends and Share Buyback

Following the end of the first quarter, Wilh. Wilhelmsen Holding ASA's Annual General Meeting approved a dividend of NOK 10.00 per share, with an additional authorization for the board to distribute up to NOK 8.00 per share. Additionally, in April 2024, the company completed a buyback of 440,000 shares, split between 20,441 A-shares and 419,559 B-shares.

Financial Position and Cash Flow

As of the end of the first quarter of 2024, Wilh. Wilhelmsen Holding ASA reported total assets of USD 4,113 million and shareholders' equity of USD 2,735 million, maintaining a stable equity ratio of 70%. Cash and cash equivalents stood at USD 187 million, after a net decrease in cash flow due to investments and financing activities, including debt repayments and dividend distributions.