Wilh. Wilhelmesen Holdings Report Profits in Q2 2012

Press Release
Thursday, August 09, 2012

Growth in shipping earnings & rebound by maritime services segment lift operating profit in second quarter 2012.

Operating profit for the second quarter was USD 139 million (USD 71 million), an increase of 94% compared with the second quarter of 2011 and up 31% from the first quarter of 2012.

Total income amounted to USD 972 million (USD 836 million), representing an increase of 16% compared with the similar period last year and an increase of 3% from the first quarter of 2012. Profit after tax and minority interests ended at USD 64 million (18 million), a reduction of USD 5 million from the first quarter.

“With continued increase in volumes combined with sound cargo and trade mix, our shipping and logistics segment delivers record earnings in the second quarter,” says Thomas Wilhelmsen, group CEO at WWH. “Although volumes have increased steadily from a low level in 2009, we’ve seen that the growth rate has now softened in some markets.”

The strong performance of Wilhelmsen Maritime Services (WMS) reflects the full impact of profit improvement programmes implemented during 2011 as well as appreciation of the USD.

“We are pleased to see that WMS are back at all time high operating profit and a margin well above our 9% target. However, we still see and expect a weak shipping market impacting owners’ purchasing capabilities, reducing demand for certain maritime products and services.”

The board maintains a cautiously optimistic view short term, but underlines that medium term prospects will depend on the development of the world economy.
 


 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

FMT Options for another Towboat from Eastern

Eastern Shipbuilding Group, Inc. announce that Florida Marine Transporters, Inc. of Mandeville, La. exercised another additional 90’x32’x10’ “Canal Class” Inland

Caterpillar: Q3 Results Show Improvement

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.

Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter

Finance

New York, London Juxtaposed by New Maritime Event

On November 13, the newly formed New York Maritime Consortium, a coalition of leaders from New York Maritime Inc. (NYMAR), the Society of Maritime Arbitrators (SMA),

Caterpillar: Q3 Results Show Improvement

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.

Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1719 sec (6 req/sec)