Annual report 2017: A year of transformation
Annual report 2017: A year of transformation
The Wallenius Wilhelmsen group was established on April 4th 2017 when Wallenius of Sweden and Wilhelmsen of Norway combined ownership of their jointly owned companies and relevant assets, creating a market leader in RoRo shipping and vehicle logistics. WWL ASA today publishes its' first Annual report, including a full Sustainability report.
In 2017, the financial performance improved substantially compared to 2016, driven by positive results for both the ocean and landbased segment.
For the ocean segment the positive performance was supported by increased volumes, improved cargo mix, and realisation of synergies. On the other hand, the ocean segment continued to be faced with overcapacity of tonnage and resulting pressure on freight rates throughout the year.
For the landbased segment the positive development was mainly driven by strong performance for technical services in North America and increased volumes for the terminals. Towards the end of the year, Keen Transport Inc (Keen) was acquired for USD 64 million, making WWL the clear market leader for high & heavy processing and transportation in North America.
Wallenius Wilhelmsen's annual report 2017 is available on the company's website at https://annualreport.walleniuswilhelmsen.com
About Wallenius Wilhelmsen The Wallenius Wilhelmsen group (OEX: WWL) is a market leader in RoRo shipping and vehicle logistics, transporting cars, trucks, rolling equipment and breakbulk around the world. The company operates around 130 vessels servicing 32 trade routes to six continents, and operates a global inland distribution network, 77 processing centres, and 13 marine terminals. The Wallenius Wilhelmsen group consist of Wallenius Wilhelmsen Ocean, Wallenius Wilhelmsen Solutions, EUKOR and ARC. The group is headquartered in Oslo, Norway with 7.500 employees in 29 countries worldwide. Read more at walleniuswilhelmsen.com
For further information, please contact: - Bjørnar Bukholm, Head of Corporate Finance and Strategy & IRO Tel +47 980 72 778 email: bjornar.bukholm@walleniuswilhelmsen.com
- Anna Larsson, Head of Corporate Communication & CSR Tel: +47 484 06 919 email: anna.larsson@walleniuswilhelmsen.com