Good performance from the operating businesses delivered an EBITDA of USD 33
million in the fourth quarter for the Wilhelmsen group. Contributions from
associates were down, giving a profit of USD 80 million for the period.   

Total income for the group was USD 256 million, up 4% from the fourth quarter of
2022 and up 1% from the previous quarter. EBITDA was USD 33 million, down 2%
from corresponding period last year and down 8% from the previous quarter.

"Maritime Services grew steady in the fourth quarter and rounded off the year
with the acquisition of Zeaborn Ship Management. Income for New Energy was
somewhat lower than we saw in the third quarter, mainly due to seasonality,"
says Thomas Wilhelmsen, group CEO. 

The Maritime Services segment had a total income of USD 187 million in the
fourth quarter. This was up 15% from the corresponding period last year and up
5% from the previous quarter. All main activities had a year-over-year increase
in total income, driven by volume growth, new bolt-on acquisitions, and
inflationary effect on pricing. In December, Wilhelmsen and MPC Capital agreed
to acquire 100 % of the company Zeaborn Ship Management. Zeaborn manages a fleet
of around 100 vessels. The closing of the transaction is expected in the first
quarter of 2024 and is subject to approval by the competent antitrust
authorities.

Total income for the New Energy segment was USD 68 million in the fourth
quarter. This was down 18% from the corresponding period last year and down 8%
from the previous quarter. The reduction year-over-year was due to a previous
year sales gain and loss of income from NorSea Wind. 

The Strategic Holdings and Investments segment reported a USD 76 million profit
to equity holders of the company in the fourth quarter. This reflected lower
contribution from Wallenius Wilhelmsen ASA and stable contribution from other
holdings and investments. 

Net profit to equity holders of the company was USD 74 million for the quarter,
equal to USD 1.68 earnings per share (EPS).

In 2023, the group delivered a strong 37% total shareholder return. The board
proposes that the Annual General Meeting approves a first dividend of NOK 10.00
per share and authorises the board to distribute additional dividend of up to
NOK 8.00 per share.

Commenting on the outlook for the group, Wilhelmsen says:

"We retain a strong balance sheet, and will continue to develop companies within
maritime services, shipping, logistics, renewables, and related infrastructure,
all while delivering consistent yearly dividends."

For further information, 
contact:

Åge Sturtzel
IRO 
Wilh. Wilhelmsen Holding ASA 
Tel: +47 900 87 670
aage.sturtzel@wilhelmsen.com 

Ole Jakob Ytterdal 
VP Corporate Communication 
Wilh. Wilhelmsen Holding ASA 
Tel: +47 970 88 362
Ole.j.ytterdal@wilhelmsen.com 

About Wilhelmsen
Our ambition is to shape the maritime industry.
Founded in Norway in 1861, Wilhelmsen is now a comprehensive global maritime
group providing essential products and services to the merchant fleet, along
with supplying crew and technical management to the largest and most complex
vessels ever to sail. Committed to shaping the maritime industry, we also seek
to develop new opportunities and collaborations in renewables, zero-emission
shipping, and marine digitalization. Supporting a diverse and inclusive
workplace, with thousands of colleagues across more than 60 countries, we take
innovation, sustainability and unparalleled customer experiences one step
further.
For more information, please visit wilhelmsen.com.