Wilhelmsen Group reports $94m profit for Q4 2024

Port and ship services group Wilhelmsen has reported an EBITDA from operating businesses of $37 million in the fourth quarter, resulting in a profit of $94 million for the period with contributions from associates.

Total income for the group was $278 million, up nine per cent from the fourth quarter of 2023, but down six per cent from the previous quarter.

EBITDA ended at $37 million, up 12 per cent from the corresponding period last year, but down three per cent from the previous quarter.

“Our operating businesses continue to deliver strong results, with good annual growth," claimed Thomas Wilhelmsen, group CEO.

"Paired with continuously high contributions from our key strategic investments in Wallenius Wilhelmsen and Hyundai Glovis, I am pleased to see a strong momentum as we continue to build for future success.”

The maritime services segment had a total income of $202 million in the fourth quarter, up eight per cent from the corresponding period last year.

Wallenius said income was impacted by revenue recognition from the acquisition of Zeaborn Ship Management. Excluding income from the Zeaborn acquisition, income was up five per cent year-over-year.