Wilh. Wilhelmsen Holding ASA (LTS:0P0T)
kr 411 -3.5 (-0.84%) Market Cap: 17.21 Bil Enterprise Value: 20.17 Bil PE Ratio: 3.58 PB Ratio: 0.64 GF Score: 79/100
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Q2 2019 Wilh Wilhelmsen Holding ASA Earnings Call Transcript

Aug 23, 2019 / 06:30AM GMT
Release Date Price: kr143
Thomas Wilhelmsen
Wilh. Wilhelmsen Holding ASA - Group CEO

Good morning. Welcome to the second quarter results for Wilh. Wilhelmsen Holding. A quarter with some positive undertones, which we are pleased to see.

Starting with the net results of $89 million for the group, but the more important part of it is probably the underlying positive development in most of the operating entities that we do have. The quarter is very much colored by a strong increase in value of the Hyundai and Glovis shares. We've had a write-down of our Survitec investment, which is quite substantial. I'll come back to that a little bit later. And we have a small gain within maritime services related to sale of a property in Asia. All in all, then resulting in the USD 89 million net profit for the quarter.

Looking into the P&L, a relatively flat quarter in terms of top line, 5% up landing at $208 million, resulting in an EBITDA of $42 million, which is then also somewhat inflected by the gain on property sale, which is $6 million. And for those who are comparing numbers with last year, the IFRS element is

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