Wallenius Wilhelmsen ASA (WILWY, WAWI.OL), a Norwegian provider of ocean and land-based logistics services, on Wednesday reported a rise in net profit for the first quarter, helped by improved revenue.
For the three-month period, the company posted a net income of $225 million, or $0.53 per share, higher than the restated $181 million, or $0.43 per share, reported for the same period last year. Profit before tax stood at $267 million as against the restated $234 million a year ago.
Operating profit, or EBIT, moved up to $305 million from the previous year's restated $290 million. Operating profit before depreciation, amortization, and impairment, or EBITDA, was $462 million, up from the restated $438 million in 2024.
Revenue improved to $1.297 billion from the restated $1.255 billion a year ago.
Looking ahead, Lasse Kristoffersen, CEO of Wallenius Wilhelmsen, said: "2025 will be another strong year for Wallenius Wilhelmsen. Despite the current market uncertainty, we expect Q2 to be stronger than Q1 and adjusted EBITDA for 2025 to be in line with 2024. But the outlook is uncertain given the current market environment. This secures a continued strong cash flow, allowing us both to stand by our dividend policy and to invest in the development and growth of our business."
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