Wallenius Wilhelmsen jumps on deal extension ahead of auto tariffs

Wallenius Wilhelmsen ASA

24/03/2025 09:40

** Shares in Wallenius Wilhelmsen WAWI.OL rise 5% after the Norwegian shipper announced a 10-year contract extension with an undisclosed auto original equipment manufacturer

** The company, which ships vehicles to six continents, estimates gross revenue from the deal at $2 billion throughout the 10-year period

** The group's logistics segment recorded $1.2 billion of revenue in 2024, and the contract accounts for 17% of this, Fearnley analyst Fredrik Dybwad says, adding the deal is "big and a positive"

** But Dybwad also points to recent reports of more targeted tariffs from the Trump administration

** "More targeted tariffs would likely soften the impact on the economy somewhat and could incentivise more trade than if tariffs are broader", he says

** U.S. reciprocal tariffs are expected to come into force on April 2

 (Reporting by Boleslaw Lasocki; Editing by Amanda Cooper)

 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))