Wallenius Wilhelmsen (WAWI) Investor update summary

Automotive market trends

• Global automotive trade is being reshaped by surging Asian exports, especially from China, and declining local production in Europe and the US.

• Chinese OEMs have rapidly scaled exports, reaching a projected 10 million units in 2026, with Europe and emerging markets as key destinations.

• Chinese brands now compete across all price segments and are gaining significant market share in both developed and emerging markets.

• Europe and the US are responding with tariffs, localization policies, and industrial strategies to counter competitive pressures.

• Despite policy responses, Chinese cost and technology advantages remain strong, driven by scale, integration, and rapid innovation.

High & Heavy (H&H) and industrial equipment

• H&H sentiment is mixed: construction is gradually improving, mining is supported by energy transition investments, and agriculture is stabilizing after a downturn.

• Chinese H&H exports are growing, mainly in smaller containerized units, with leading companies expanding their global presence.

• Industrial investment remains robust, led by construction and mining, supporting equipment demand.

Fleet development and shipping market

• RoRo shipping capacity is constrained, with long lead times for new vessels and limited yard availability through 2030.

• Tight vessel supply and strong demand are driving up time charter rates and newbuilding prices.

• Wallenius Wilhelmsen maintains the largest and most capable fleet for automotive and H&H logistics, positioning it well for continued market strength.