Wallenius Wilhelmsen continued a steady course through Q3, reporting an adjusted EBITDA of USD 471m.
Total revenue for Q3 was USD 1,331 and adjusted EBITDA was USD 471m, on par with Q2 2025.
Net profit for the period totaled USD 280m compared to USD 403m in Q2, which included a gain of USD 135m from the sale of MIRRAT. Net profit in Q3 was positively impacted by a vessel sale gain of USD 16m. Excluding the gain, the profit for the period totaled USD 263m. Net profit from the same period last year was USD 259m.
“The activity level and financial performance remained robust in the third quarter, and we continued to secure new business across all segments, positioning us well for future earnings” said Lasse Kristoffersen, President and CEO of Wallenius Wilhelmsen.
Challenging market conditions
After the third quarter ended, the USTR revised its port fees for the RoRo industry from USD 14 per net ton to USD 46 per net ton. The fee may be postponed by one year, but it is unclear at the time of writing.
Kristoffersen highlights that the company is working hard to mitigate the impact of the newly implemented port fees for both its customers and for Wallenius Wilhelmsen.
“Underlying demand for our services is expected to continue to be strong into the fourth quarter, but we expect our financial performance to be softer than in the third quarter due to the US port fee issue,” Kristoffersen says.
Q3 highlights:
- Delivered adjusted EBITDA of USD 471m, on par with the previous quarter
- Demand for ocean transportation remains firm from Asia
- Opened three new Vehicle Processing Centers (VPC) in Australia following a contract with an Asian OEM
- Reported a gain of USD 16m linked to a vessel sale and concluded the sale of one more vessel
- From October 14, a port fee of USD 46 per net ton applies to all foreign built RoRo vessels calling the US. The fee may be postponed by one year, but it is unclear at the time of writing
- Adjusted EBITDA in Q4 2025 is expected to be in line with Q3 2025 before taking into account the potential impact from US port fees
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