Independent journal on economy and transport policy
13:39 GMT+2
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Wallenius Wilhelmsen's financial and operating results were sharp
In the first three months of 2020, the volumes of rolling stock transported by the fleet decreased by -20%
May 15, 2020
Revenues in the period amounted to USD 834 million, down -18.1% in the first three months of 2019. EBITDA was 130 million dollars (-40.4%). EBIT and net profit were both negative and equal to -132 million and -285 million dollars compared to positive results for 95 million and 22 million dollars in the first quarter of last year Year.
"Our industry - stressed the President and Chief Executive Officer of Wallenius Wilhelmsen, Craig Jasienski - is involved in an unprecedented situation in which volumes activity has fallen significantly as a result of the closures cuts in customer production driven by measures to Covid-19 and weakening demand. We -- specified - we have taken a number of actions to adjust capacity, reduce costs and safeguard our level of liquidity during this stormy phase. With these and with our solid financial situation, I'm confident we'll successfully cross crisis."
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