Wallenius Wilhelmsen matches Q3 earnings, but faces Q4 port fee hike

Wallenius Wilhelmsen reported a Q3 2025 adjusted EBITDA of $471 million, on par with Q2 2025, with total revenue reaching $1,331 million. Net profit was $280 million, including a $16 million gain from a vessel sale. Excluding this gain, net profit was $263 million, surpassing Q3 2024's $259 million. The company expanded its vehicle processing centers in Australia and secured new business.

However, the outlook for Q4 is tempered by newly revised US port fees for RoRo carriers, increasing from $14 to $46 per net ton, effective October 14, 2025. While a one-year postponement is possible, the uncertainty is expected to soften Q4 financial performance, with an estimated $100 million cost exposure before mitigation efforts. Despite this, underlying demand for services remains strong, and adjusted EBITDA for Q4 2025 is anticipated to be in line with Q3 2025 before considering the port fee impact.

The company's capital discipline remained strong, with a ROCE of 19.3%, equity ratio of 40.3%, and leverage ratio of 1.0x at quarter-end. Wallenius Wilhelmsen operates a global fleet of 128 vessels, seven terminals, and 70 processing centers, with an ambitious net-zero carbon emissions target by 2040.