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25 February 2021 The on-line newspaper devoted to the world of transports 20:59 GMT+1

May 15, 2020

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Strong contraction in financial and operating results Wallenius Wilhelmsen

In the first three months of 2020, the volumes of rolling stock from the fleet decreased by -20%

In the first quarter of this year, the Wallenius Group Wilhelmsen, which mainly operates in the transport sector automotive logistics with a fleet of 130 ships operated through the Companies Wallenius Wilhelmsen Ocean, Wallenius Wilhelmsen Solutions, EUKOR, ARC and Armacup, recorded a sharp decline in financial results due in part to the effects of the impact of the Covid-19 pandemic that contributed 20% reduction in the volume of cargo transported over the period from the fleet,

Revenues in the period amounted to USD 834 million, down -18.1% in the first three months of 2019. EBITDA was 130 million dollars (-40.4%). EBIT and net profit were both negative and equal to -132 million and -285 million dollars compared to positive results for 95 million and 22 million dollars in the first quarter of last year Year.

"Our industry - stressed the President and Chief Executive Officer of Wallenius Wilhelmsen, Craig Jasienski - is involved in an unprecedented situation in which volumes activity has fallen significantly as a result of the closures cuts in customer production driven by measures to Covid-19 and weakening demand. We -- specified - we have taken a number of actions to adjust capacity, reduce costs and safeguard our level of liquidity during this stormy phase. With these and with our solid financial situation, I'm confident we'll successfully cross crisis."

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