Wilh. Wilhelmsen fourth quarter and preliminary results 2009
(Thomson Reuters ONE) - (Lysaker, 12 February 2009) The Wilh. Wilhelmsen ASA (WW) maritime industrygroup achieved an operating income of USD 3.4 billion in 2008, up by more than25% compared with 2007. The shipping and maritime services segments are the maincontributors to the improved top line.The operating income for the year totalled USD 3 434.2 million, compared withUSD 2 727.6 million in 2007. Net operating profit came to USD 351.6 million,compared with USD 265.7 million.Operating income for the fourth quarter amounted to USD 853.4 million, up fromUSD 740.1 million for the same period in 2007. Operating profit came to USD134.0 million, compared with USD 58.9 million. "A booming world economy, strong global trade and the increasing demand formaritime transport of cars resulted in record transport volumes and operatingincome for our ship operating companies in 2008," says Ingar Skaug, group chiefexecutive of WW. "However, as the year progressed, there was a significantcontraction in volumes in the wake of the grave financial turmoil. Consequently,cargo volumes for the fourth quarter declined compared to the same period in2007. We expect a decline in car volumes for 2009, and although the short termoutlook for high and heavy and project cargoes are somewhat down, we deem theunderlying demand to be more stable."With a ten-fold increase in operating income from just above USD 100 million in2004 to USD 1 015.8 million in 2008, Wilhelmsen Maritime Services (WMS) isproviding a continued strong and valuable contribution to the group's results.The operating profit for the segment in 2008 came to USD 85.1million."WMS records a significant growth in operating income, driven by the increase inglobal trade and extraordinary high newbuilding activities," says Skaug. "Themajority of its activity is related to ship operations, a market thathistorically has been less cyclical than the newbuilding market. However, thesignificant uncertainty regarding cancellations and delays at the yards poses arisk for WMS."WW paid a total dividend of NOK 7 per share in 2008. The company's intention isto pay dividend twice a year. The board proposes a payment of NOK 2 per share inMay for 2008.The outlook for the WW group's markets in 2009 is highly uncertain. Although theWW group is operationally robust with wide flexibility to adjust the group'scost base, the WW board expects the global economic downturn to have a strongnegative impact on the group's operating profit in 2009.For further information, contactIngar Skaug, group CEO tel: +4767 58 41 08 (office), +47 90 05 14 35 (mobile)Nils Petter Dyvik, group CFO tel: +4767 58 45 65 (office), +47 91 11 60 79 (mobile)Mitra Hagen Neg?, head of investor relations tel: +47 67 58 69 52(office), +47 95 79 36 31 (mobile)Wilh. Wilhelmsen (WW) is a global maritime industrial group. Together with itspartners, WW controls more than 160 vessels operating in a global network oftrades and ranks as the world's largest operator in the roll-on roll-off cargosegment. Its ocean transport activities are supported by a variety of advancedshore-based logistics services, offering customers seamless door-to-door supplychain solutions. The group also occupies a leading position in the globalmaritime service industry through an unparalleled global network, deliveringservices to more than 200 shipyards and some 20 000 vessels each year. Thegroup's wholly owned subsidiaries employ about 6 000 people or about 10 300 whenjoint ventures are included. In addition comes a crew pool of more than 8 000seafarers. The group has close to 400 offices in 73 countries within itswholly-owned structure, increasing to more than 500 offices in 78 countries whenpartly-owned companies are included.This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1383188] Q4 2009 Nils Dyvik: http://hugin.info/177/R/1383188/341968.pdf Report for the fourth quarter and preliminary results for 2009: http://hugin.info/177/R/1383188/341966.pdf Q4 2009 pressemelding: http://hugin.info/177/R/1383188/341967.pdf Q4 2009 Ingar Skaug: http://hugin.info/177/R/1383188/341969.pdf
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Datum: 11.02.2010 - 01:54 Uhr
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