Wilh. Wilhelmsen Holding ASA posts results for first quarter 2016
Wilh. Wilhelmsen Holding (WWH) reported a significant increase in operating profit, primarily driven by a USD 80 million non-recurring gain from logistics activities. The group’s shipping activities and maritime services segment recorded a softer quarter.
WWH delivered a total income of USD 848 million, while the operating profit ended at USD 143 million. When adjusting for non-recurring items, the total income and operating profit was down 3% and 32% quarter on quarter, indicating weaker underlying performance for the group in total.
The maritime services segment delivered a soft first quarter, partly driven by seasonality. The total income and operating profit fell by 11% and 50% respectively compared with the fourth quarter.
The annual general meeting held 3 May 2016 approved a dividend of NOK 3.00 per share to be paid on or about 13 May. The general meeting also authorised the board to declare further dividend of up to NOK 3.00 per share.
Wilh. Wilhelmsen Holding ASA is a global maritime industry group focusing on shipping and integrated logistics services for cars and rolling cargo through its shareholding in Wilh. Wilhelmsen ASA. The group occupies a leading position in the global maritime service industry through Wilhelmsen Maritime Services AS, delivering products and services to some 200 shipyards and 25 000 vessels annually. Through Wilh. Wilhelmsen Holding Invest AS the group aims at exploring and developing new opportunities within the energy-, offshore- and maritime industry.