Wallenius Wilhelmsen, a leading provider of maritime and logistics services, has unveiled its annual report for the year 2023, marking it as the best year in the company’s history. The report highlights robust financial performance driven by capacity constraints in car carrier markets and heightened demand for automotive and heavy equipment transportation.
The company recorded an all-time high EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of USD 1,807 million, marking an impressive 18 percent increase from the previous year. Lasse Kristoffersen, President and CEO of Wallenius Wilhelmsen, expressed gratitude towards the dedication of the workforce and emphasized the pivotal role of strong market demand in achieving such exceptional results.
Kristoffersen further outlined the company’s commitment to environmental sustainability by setting ambitious targets to achieve net zero emissions by 2040. As part of this commitment, Wallenius Wilhelmsen aims for a 45% reduction in emissions by 2030 compared to 2019 levels, aligning with the Science Based Targets Initiative.
In 2023, the company took significant strides towards its sustainability goals by introducing initiatives such as partnering with customers to procure reduced carbon freight, ordering environmentally friendly vessels capable of running on green methanol, and deploying zero-emission battery electric trucks in the United States. These efforts reflect Wallenius Wilhelmsen’s strategic vision to pioneer low and no carbon services in the industry.
Financially, all three segments of the company – shipping, logistics, and government services – contributed significantly to the overall performance. While shipping revenues experienced a slight decline due to global supply chain disruptions, logistics services witnessed volume improvements across various sectors, resulting in a substantial increase in revenue and adjusted EBITDA.
The government segment also saw a rise in revenue, attributed primarily to increased cargo activity related to the response efforts following the Russian invasion of Ukraine. Wallenius Wilhelmsen’s resilience and adaptability in navigating complex geopolitical situations underscore its strength in delivering essential services amidst challenging global scenarios.
Looking ahead, the company’s board has proposed a total dividend of USD 1.14 per share for the fiscal year 2023, subject to approval at the upcoming Annual General Meeting. Additionally, a new dividend policy emphasizing semi-annual pay-as-you-go dividends has been proposed, reflecting a commitment to shareholder value and financial transparency.
