Wilh. Wilhelmsen (WWIB) Q1 2026 earnings summary

Executive summary

• Total income reached USD 308 million in Q1 2026, up 4% year-over-year, with stable performance across all business units.

• EBITDA was USD 50 million, a 10% increase year-over-year and 13% sequentially, supported by one-off positive effects.

• Net profit was USD 113 million, down 18% year-over-year, with EPS at 2.68.

• Share of profit from associates and joint ventures totaled USD 84 million, down 30% year-over-year, with strong contributions from Wallenius Wilhelmsen and Hyundai Glovis.

• Qube entered into a binding agreement to be acquired by a Macquarie-led consortium.

Financial highlights

• Maritime Services revenue was USD 223 million, up 5% year-over-year; EBITDA USD 32 million.

• New Energy revenue was USD 84 million, up 2% year-over-year; EBITDA USD 21 million, up 36% year-over-year.

• Share of profit from associates totaled USD 84 million, with USD 61 million from Wallenius Wilhelmsen and USD 25 million from Hyundai Glovis.

• Cash from operating activities was USD 159 million; cash balance at quarter-end was USD 280 million.

• Shareholders' equity increased to USD 3,373 million, equity ratio at 75%.

Outlook and guidance

• Maintains strong balance sheet and liquidity, but faces uncertainty from geopolitical tensions, Middle East conflict, and global trade environment.

• Maritime Services expected to remain stable despite global trade volatility and Middle East uncertainties.

• New Energy segment supported by European energy market dynamics and energy transition trends.

• Capacity to support and expand the business portfolio and deliver annual dividends remains intact.