Wallenius Wilhelmsen slides as 2024, 2025, profit targets lag consensus

Wallenius Wilhelmsen ASA

16/12/2024 11:17

** Shares in Norwegian shipping company Wallenius Wilhelmsen
 WAWI.OL  fall around 7% after its 2024 and 2025 profit
forecasts came below market expectations
    ** The company says it expects 2024 adjusted EBITDA of
$1.88-1.91 billion, with the 2025 figure 5-10% above that
    ** Fearnley Securities analyst Fredrik Dybwad says that
assuming both years come at mid-point, 2024 target is about 4%
below and 2025 target 5% below consensus
    ** The earnings peak for Wallenius has likely passed, though
its solid contract portfolio should mean solid earnings for the
next couple of years, Dybwad says
    ** But he adds the expected 12% fleet growth in 2025 coupled
with flattening auto volumes may push freight rates further down
for next year
    ** The stock is the biggest faller on the Oslo benchmark
index  .OBX  and is trading at its lowest level in over four
months

 (Reporting by Agata Rybska)
 ((gdansk.newsroom@thomsonreuters.com;))