First quarter results 2010 for Wilh. Wilhelmsen ASA
(Thomson Reuters ONE) -
Volumes continue to pick up, and the shipping segment showed solid rebound in
its operating profit towards the end of the first quarter of 2010. The prospects
are promising, with better performance expected from all the group companies in
2010 compared with 2009.
The Wilh. Wilhelmsen group posted an operating profit of USD 44.0 million for
the first quarter of 2010, compared with USD 36.4 million in the first quarter
of 2009 (figures for the corresponding period hereafter in brackets). Total
income amounted to USD 639.7 (USD 606.9 million). Group profit before tax and
minority interests was USD 5.6 million (USD 31.9 million).
"Shipped volumes increased by 24% compared with the same quarter of 2009,"
comments Ingar Skaug, group CEO at Wilh. Wilhelmsen. "Volumes are expected to
increase going forward. We have therefore taken five vessels out of lay up and
started securing additional tonnage. It is particularly encouraging to see ro-ro
cargo (high and heavy and non-containerised cargoes) picking up during the first
quarter of 2010. This gives us a better cargo mix, contributing positively to
our results."
"The maritime services segment experienced continued strong sales volumes to the
merchant fleet. Although year on year sales to the yards were some what weaker,
we now see the number of quotations for retrofit projects rising again," says
Skaug. "The maritime services market is best described by increased optimism,
giving reason to expect higher demand going forward."
On 15 April 2010, the annual general meeting of Wilh. Wilhelmsen approved the
board's proposal to carry out a restructuring of the group. In the new group
structure, the group's shipping and logistics activities will be carried forward
in a separate listed entity, the new Wilh. Wilhelmsen ASA (new WW ASA). A newly
incorporated company, Wilh. Wilhelmsen Holding ASA, will be the new parent
company of the Wilh. Wilhelmsen group, including the majority shareholder of new
WW ASA as well as the only shareholder of Wilhelmsen Maritime Services. It is
expected that the restructuring and listing of the new Wilh. Wilhelmsen ASA will
take place at the end of June 2010. For more information, please see
www.wilhelmsen.com
Despite a weak start of the year, the encouraging development towards the end of
the first quarter 2010 confirms the board's expectation that the group's
performance in 2010 will be better than in 2009.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1414911]
Financial report Q1 2010: http://hugin.info/177/R/1414911/366140.pdf
Presentation Q1 2010 Nils Dyvik: http://hugin.info/177/R/1414911/366141.pdf
Presentation Q1 2010 Ingar Skaug: http://hugin.info/177/R/1414911/366143.pdf
Pressemelding Q1 2010: http://hugin.info/177/R/1414911/366144.pdf
Unternehmensinformation / Kurzprofil:
Datum: 12.05.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 20763
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