Wilhelmsen’s Core Car Customers Face Thicket of Regulatory Worries — Panjiva


Wilhelmsen’s Core Car Customers Face Thicket of Regulatory Worries

Cons. Discr. - Autos 664 Corp - Shipping 610 Earnings 365 Mode - Seaborne 1275 U.S. 3310

Car shipping company Wallenius Wilhelmsen reported a 0.6% year over year drop in 4Q revenues after losing a major customer – Hyundai Motor – as well as shedding unprofitable contracts. When combined with higher fuel costs that led to a decline in its EBITDA margin to 16.3% from 17.6% a year earlier.

The firm may be starting the new year on a stronger footing after its U.S.-inbound volumes of car shipments improved by 6.6% year over year in January and shipments of construction equipment climbed 16.8%. Yet, its major automotive industry customers, led by BMW with 21.6% of Wilhelmse...

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