Wallenius Wilhelmsen

Earnings Release • May 9, 2017

Wallenius Wilhelmsen Logistics ASA: Q1 2017 results

Wallenius Wilhelmsen Logistics ASA: Q1 2017 results

Wallenius Wilhelmsen Logistics ASA (WWL ASA): Results for

the first quarter 2017

Oslo, April 9, 2017 - Operating results were up in the first

quarter 2017, supported by non-recurring items. Seasonality

reduced ocean auto volumes, while the positive development

in landbased continued. Rate pressure remains, but WWL ASA

expects synergies from the merger to deliver full effect by

Total income for the WWASA pre-merger operation was USD 448

million in the first quarter, while EBITDA ended at USD 79

million. An internal sales gain of USD 9 million had a

positive impact on both.

Commenting on the results, Craig Jasienski, CEO of WWL ASA,

says: "We are pleased to see some improvement in high and

heavy volumes, while auto volumes were down for ocean mainly

due to seasonality." A time lag related to bunker

compensation had a temporary negative effect on the first

quarter results.

"The results for the landbased business continued to develop

positively, supporting our growth ambition within this

area," says Jasienski.

The merger of the jointly owned ocean activities and

relevant assets of WW ASA and Wallenius Lines was completed

on 4 April, and the following day Wallenius Wilhelmsen

Logistics ASA started trading on the Oslo Stock Exchange

under the new ticker, WWL.

Commenting on the merger, Mr Jasienski says: "We are

extremely pleased that the merger is now completed, and that

the new WWL ASA can start its journey of delivering

synergies and improved results to our shareholders, and an

even better product to our customers."

In its meeting today, the WWL ASA board decided on a new

dividend policy for the company, targeting a dividend which

over time shall constitute between 30 and 50% of the

company's profit after tax. When deciding the size of the

dividend, the board will consider future capital

requirements to ensure the implementation of its growth

strategy as well as the need to ensure that the Group's

financial standing remains warrantable at all times. The new

WWL ASA board confirmed that no dividend will be proposed

for the AGM for 2016.

The WWL ASA Q1 2017 results presentation will be held at

April 10 at 08:30 CET, and is available on webcast here:

http://webtv.hegnar.no/presentation.php?

webcastId=54324087

About Wallenius Wilhelmsen Logistics ASA

Wallenius Wilhelmsen Logistics ASA is a global logistics

operator serving the manufacturing industry with special

focus on vehicles, mining and construction equipment and

machinery. The company brings together the shipping and

logistics businesses of EUKOR Car Carriers, WWL AS and

American RoRo Carriers. For more information see

www.walleniuswilhelmsen.com

For further information, contact:

Bjørnar Bukholm, Head of Corporate Finance and Strategy & IRO

Tel +47 980 72 778 (mob)

email: bjornar.bukholm@walleniuswilhelmsen.com

Anna Larsson, Head of Corporate Communication & CSR

Tel: +47 484 06 919 (mob)

email: anna.larsson@walleniuswilhelmsen.com