Despite increasing market uncertainties, the car carrier shipping company Wallenius Wilhelmsen achieved a solid result in the first quarter of 2025.
Compared to the same period last year, EBITDA increased by 5%, mainly due to strong results in the shipping and public administration segments.
“We are delivering solid financial results despite seasonally weak volumes, weak H&H markets and an uncertain market environment,” says Lasse Kristoffersen, President and CEO of Wallenius Wilhelmsen. Even in the face of US tariffs and port fees, the company has had a “strong start to the year” and remains optimistic for the current year. “Despite the turbulence, Wallenius Wilhelmsen’s position as a global leader in our segment was confirmed during the quarter. We signed multi-billion dollar multi-year contracts in logistics and shipping during the quarter and continue to see solid demand for our services, particularly from Asia,” said Kristoffersen.
The shipping company’s EBITDA amounted to $462 million, an increase of 5% compared to the previous year. Total revenue in the first quarter amounted to $1.297 billion, compared to $1.255 billion in the same period last year. Net profit also increased year-on-year and amounted to $246 million in the first quarter of 2025, an increase of 22% compared to the first quarter of 2024.
Wallenius hopes for new trade relations
The company was concerned about the tariffs imposed by US President Trump – which particularly affect China – and potential port charges, both of which could impact global trade and growth. Nevertheless, it said it is well positioned to benefit from new trade relationships and opportunities that arise as existing trade routes change and regional demand increases as a result.
“While we expect a decline in US imports and possibly exports, other regions – particularly Asia – are experiencing growth. We expect this to continue for the rest of the year, leading to high capacity utilization, particularly in the shipping and public administration segments,” explains Kristoffersen.
Despite the current uncertainties in the market, Wallenius Wilhelmsen expects a stronger second quarter and a good year overall. EBITDA for 2025 is expected to be at the level of 2024. However, the outlook is “uncertain”, they admitted.
“This ensures continued strong cash flow, which enables us to continue our dividend policy while investing in the development and growth of our company,” said Kristoffersen. (JW)
