ShippingWatch

Wilhelmsen's Q3 results tainted by competition cases

Norwegian carrier Wilh. Wilhelmsen Holding's third quarter results are heavily tainted by the large sums set aside by the company in light of ongoing competitions cases. Looking at operations alone, the group suffered a ten percent setback in its operating profit compared to the second quarter.

Photo: Presse

An ongoing investigation by competition authorities has cast shadows on the third quarter results from Norwegian shipping and logistics group Wilh. Wilhelmsen Holding, which delivered its interim report for the period on Wednesday.

The report shows a dramatic decline in the operating profit (EBIT) which fell from USD 103 million in the second quarter to a deficit of USD 157 million in the third quarter. This development, explains the company, must be seen in light of provisions for USD 200 million set aside by the company ahead of two pending competition cases concerning two of the company's joint ventures, which are currently being investigated by the authorities.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

ECSA's new secretary general balances on a razor's edge

ECSA’s newly appointed secretary general, Sotirs Raptis, has taken up the helm of an organization criticized by its own members for being invisible. In an interview with ShippingWatch, Raptis explains how he intends to alter that image.

Further reading

Related articles

Latest news

See all jobs