Norway's Wallenius Wilhelmsen Q3 profit rises on Asia shipping demand

Overview

• Norway RoRo shipping and vehicle logistics firm's Q3 revenue rose 7% QoQ, adjusted EBITDA up 19%

• Net profit for Q3 rose 53% QoQ

• Company raised $300 mln in equity to fund expanded newbuilding program

Outlook

• Wallenius Wilhelmsen maintains 2026 adjusted EBITDA outlook of about $1.6 bln

• Company says shipping capacity is fully committed for 2026

• Company reports strong customer interest in securing long-term shipping capacity

Result Drivers

• SHIPPING DEMAND - Co said increased demand for shipping services out of Asia supported higher freight and charter rates

• SHIPPING SERVICES PERFORMANCE - Improved performance in Shipping and Government services contributed to higher adjusted EBITDA

• CONTRACT AWARDS - Recent large contract awards contributed to a strong book of business and long-term capacity commitments

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the marine freight & logistics peer group is "buy"

• Wall Street's median 12-month price target for Wallenius Wilhelmsen ASA is NOK195.00, about 16.1% above its November 3 closing price of NOK168.00

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)