Wilh Wilhelmsen Fourth Quarter 2006

Business Reports: Wilh. Wilhelmsen ASA 4th Qu 2006

The Wilh. Wilhelmsen ASA (WW) industrial maritime group delivered a record performance in 2006. A sales gain of roughly USD 83 million for the Dockwise heavy transport company made a strong contribution to results for both the fourth quarter and the full year.

“We’re gaining the benefits of operating more rationally and efficiently as well as exploiting synergies between the companies in the WW group,” says Ingar Skaug, group CEO at WW.

“Good market conditions are also contributing to our expansion. High fleet utilisation and good cargo availability characterised 2006.”

WW’s net operating profit for the fourth quarter of 2006 came to USD 165 million, compared with USD 67 million in the same period of 2005. Total operating income was USD 683 million, up from USD 608 million the year before. Profit before taxes came to USD 130 million, compared with USD 21 million.

Net operating profit for 2006 was USD 368 million, compared with USD 232 million the year before, while total operating income rose from USD 2.2 billion to USD 2.5 billion. Profit before taxes was USD 268 million, compared with USD 209 million for 2005.

An active role will be maintained by WW and its partners in the newbuilding sector in order to maintain their market shares and renew the fleet. They are due to take delivery of 44 new car carriers from February 2007 until 2011. Eight of these will be for WW.

“We expect growth in all cargo categories for the shipping and logistics segments and in relation to maritime services,” says Skaug.

WW expects a profit for 2007, after ordinary financial items and adjusted for special items, which is on a par with 2006

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