Wallenius Wilhelmsen

Regulatory Filings • Dec 28, 2021

EUKOR successfully renews HMG contract

EUKOR successfully renews HMG contract

EUKOR Car Carriers, part of the Wallenius Wilhelmsen group, has renewed its contract with Hyundai Motor Group (HMG), increasing duration to 3 years and maintaining a 40% volume share.

"We are very pleased to continue our strong relationship with HMG, supporting the same predictable level of volumes. The agreement confirms Wallenius Wilhelmsen’s strong position in Korea and is a proof of the quality of our services delivered under the existing contract,” says Torbjørn Wist, CFO and Acting CEO of Wallenius Wilhelmsen.

The contract is renewed for three years at the existing volume share, maintaining 40 percent of HMG’s exports. This continues the partnership with HMG, proving the dedicated seamless service rendered to HMG since 2002 and our service capacity to the auto industry.

Underlying operational earnings are expected to be unchanged in the new contract period starting 1 January 2022. The agreement includes a Fuel Adjustment Factor.

For further information, please contact:

Investors: Anette Orsten, VP Global Treasury & IR Tel + 47 98067912; Email: anette.orsten@walwil.com

Media relations: Anette Maltun Koefoed, VP Corporate Communications. Tel: +47 975 87 999; Email: anette.maltunkoefoed@walwil.com

About Wallenius Wilhelmsen

The Wallenius Wilhelmsen group (OEX: WAWI) is a market leader in RoRo shipping and vehicle logistics, transporting cars, trucks, rolling equipment and breakbulk around the world. The company operates over 130 vessels servicing 16 trade routes to six continents, and a global inland distribution network, 120 processing centres, and 11 marine terminals. The Wallenius Wilhelmsen group consist of Wallenius Wilhelmsen Ocean, Wallenius Wilhelmsen Solutions, EUKOR and ARC. The group is headquartered in Oslo, Norway with 8,200 employees in 29 countries worldwide.

About EUKOR

EUKOR operates a large and modern fleet of about 67 specialized Pure Car and Truck Carriers (PCTC). One of the company's key business is the export of Hyundai and Kia Motors' vehicles from their plants in Korea, while also serving most other global automotive leaders. The company is a subsidiary of the Wallenius Wilhelmsen group, part-owned with HMG (80% / 20%).