Wilh. Wilhelmsen (WWIB) investor relations material

Executive summary

• Total income reached USD 320 million in Q2 2026, up 2% year-over-year and 4% sequentially, with EBITDA of USD 62 million, up 30% year-over-year and 23% quarter-over-quarter, driven by growth in Maritime Services and New Energy segments.

• Share of profit from joint ventures and associates was USD 112 million, supported by strong underlying performance and asset sales, though down year-over-year due to prior one-off gains.

• Net profit for the quarter was USD 147 million, with EPS of USD 3.49, up 30% year-over-year.

• Dividend of NOK 20 per share paid, with board authorization for an additional NOK 8.5 per share; 470,917 shares repurchased for USD 36 million.

• Organization demonstrated resilience and adaptability, maintaining safety and operational continuity despite challenging geopolitical conditions.

Financial highlights

• Maritime Services contributed USD 228 million in total income and USD 39 million in EBITDA, up 7% and 37% year-over-year, respectively.

• New Energy segment reported USD 91 million in total income (down 8% YoY) and USD 25 million in EBITDA (up 22% YoY); Edda Wind fleet sale generated a USD 25 million net positive effect.

• Strategic Holdings and Investments delivered USD 74 million in share of profit from associates, mainly Wallenius Wilhelmsen (USD 48 million) and Hyundai Glovis (USD 27 million).

• Cash from operating activities year-to-date was USD 384 million; cash position at quarter-end was USD 249 million.

• Equity ratio stood at 75%, reflecting moderate leverage and solid liquidity.

Outlook and guidance

• Management remains positive about the group's position, supported by a strong financial position and balanced portfolio, but acknowledges ongoing geopolitical and trade risks, especially in the Middle East.

• Market tightness expected to persist, especially in RoRo and Asian export segments.

• No expectation for continued EBITDA growth at the same pace; volatility anticipated.

• Capacity to support, grow, and expand the business portfolio and deliver annual dividends remains intact.