Continued Success for WW

Friday, July 29, 2005
Continued progress characterized results for Wilh. Wilhelmsen ASA (WW) in the first half of 2005. The group has never delivered such high quarterly figures, including an operating income of $511 million in 2Q 2005 (vs. $452 million in 2Q 2004). WW's net operating profit for the second quarter was $72 million, an improvement of $15 million from the same period of 2004. Profit before tax for the quarter came to $64 million, compared with $51 million for April-June last year. "We are very satisfied with this development," says WW chief executive Ingar Skaug. The first half of 2005 yielded a total operating income of $986 million, compared with $874 million for the same period of last year. Profit before tax for the first half came to $136 million as against $80 million for the same period of 2004. Shipment of cars, high and heavy cargoes and non-containerized cargoes made the biggest contribution to the record results. Operational efficiency improvements at WW's subsidiaries and greater cooperation between these companies also contributed. "The market looks strong for the time to come," said Skaug. "We still have areas where we can do better within operations and in taking advantage of synergies between the companies, as well as with phasing in new and better tonnage. This gives us room for further improvement in results and makes us more robust." WW's three principal activities are shipping, logistics and maritime services. In line with its ambition of developing the Wilhelmsen Maritime Services (WMS) subsidiary to play a leading role in this sector, WW recently acquired the listed Norwegian company Unitor. The purchase price for all the Unitor shares will be just over NOK 1.4 billion.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Hapag-Lloyd Adds 6,000 Reefer Containers

In order to profit from the growing reefer markets in South America and Asia, Hapag-Lloyd has ordered 6,000 cutting-edge reefer containers – more than ever before in the company’s history.

Imtech Germany to Be Sold in November

The German unit of bankrupt Dutch engineering services company Imtech is expected to be sold in November, according to Imtech Germany's insolvency administrator.

Neander Deal Sees Yanmar Return to Diesel Outboards

Marking its return to the diesel outboard market, engineering company Yanmar Marine International (YMI) has reached an agreement for exclusive distribution rights

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.7322 sec (1 req/sec)