Wilh Wilhelmsen Q2 EBITDA above forecast, worried about protectionism after Brexit (updated)

Wilh Wilhelmsen Holding ASA

05/08/2016 08:19

(Adds CEO, CFO comments from investor call) 
    Aug 5 (Reuters) - Car shipper and logistic firm Wilh Wilhelmsen ASA  WWASA.OL  says: 
    * Said on Thursday, Q2 total revenue $905 million (Reuters poll $914 million) 
    * Q2 EBITDA $455 million (Reuters poll $447 million) 
    * Expects volume growth to remain weak over the next period 
    * CEO Jan Eyvin Wang tells investor call the firm does not see major disruptions on volumes 
because of Brexit 
    * However, "what we are don't happy with is the side effects and more protectionism. I think 
other countries would go to elections by this protectionism word and that is not good for 
shipping" 
    * Says impact is not "dramatic" but it could soften volumes and not provide the stable 
growth as the firm had hoped for 
    * WWASA did not pay dividend in the second quarter and is not planning to pay dividends in 
the second half of the year, said CFO Benedicte B. Agerup  
    * Agerup says this decision is related to the demerger of Treasures  TREAS.OL  in the second 
quarter, which was listed and handed out to WWASA shareholders  
    * WWASA has a non-recurring gain of USD 375 million in the second quarter due to this 
 
       
 Source text for Eikon:  urn:newsml:reuters.com:*:nObiFQSVha    
 Link to Reuters poll:  urn:newsml:reuters.com:*:nL8N1AK1UQ   
 Further company coverage:  WWASA.OL   
    
 
 
 (Reporting by Ole Petter Skonnord) 
 ((olepetter.skonnord@thomsonreuters.com)(0047 23 31 65 97)) 
 
Keywords: WILH WILHELM RESULTS/