WMS highlights 2006 by xde24545


									WMS highlights 2006
  Lysaker, 15 February 2007

        Dag Schjerven
       President & CEO
                              Page 1
In relatively short time we have built a world
leading maritime service company

                                      Wilhelmsen Maritime Services
Unitor acquisition
 – Return on investment has exceeded expectations
 – High complexity in operational merge
 – Strong operational fit
 – Management capabilities have been strengthened
Integration programme
 – Integration programme delivered according to expectation
 – 580 of the 730 defined milestones are completed and synergies of more than 30 MUSD are realised
 – Full effect of synergies to materialise from 2007
 – Integration programme is now closed and remaining actions and milestones are part of continuous improvements in the
   respective business areas
Sales and profit growth 2006
 – Sales of 588 MUSD represents growth (comparable entities) of approx 10 %
 – Increased volumes and organisational harmonisation have inflated capacity cost
 – EBIT of 49 MUSD (8,3%) represents improvement (comparable entities) of 18,5 MUSD (+64%)

               The delicate balance between growth and integration has been a key challenge in 2006

                                                                                                                         Page 2
Wilhelmsen Maritime Services has four business areas


 Barwil Unitor    Barber             Unitor                    Maritime Solutions
 Ships Service    Ship Management    Ships Equipment           & Financial Services

 - focusing on    - focusing on      - focusing on newbuilds   - focusing on
 merchant fleet   vessel operation   and retrofits             bunkering services
                                                               marine insurance

                                                                                      Page 3
  Business area highlights 2006

       Barwil Unitor Ships Service (BUSS)                          Barber Ship Management (BSM)

– High sales growth – up to 20% in certain segments       – Vessels on full technical management increased from
– 53 000 port calls handled – approx 5% of the world        156 to 175 (12%)
  market                                                  – New ship management offices established in Singapore
– 183 000 deliveries to 17 700 vessels                      and Piraeus (Greece)
– 42% fleet penetration (vessels > 1000 dwt)              – Increased focus on crewing - new crew offices
                                                            established in Philippines and Ukraine
– BUSS can deliver products and services in more than
  2 200 ports in 116 countries                            – Wilhelmsen Technical & Operational Solutions
                                                            established focusing on supplying HSEQ services
– Financial results above expectations
                                                          – Financial results below expectations due to margin
                                                            pressure and increased cost

BUSS is the biggest marine network in the world and the    BSM is well positioned for further growth following
   undisputed world leader within marine supplies             reorganisation and process reengineering

                                                                                                                  Page 4
  Business area highlights 2006 (cont…)

               Unitor Ships Equipment                                 Maritime Solutions & Financial Services
Unitor Marine Systems                                           Wilhelmsen Bunkers
  – Delivers complete solutions for fire, safety and nitrogen     – Financial results are well above expectations
    inert gas systems on newbuilds and retrofits                  – Merger with Premier Marine Fuels creates one of the
  – Approx 400 larger projects delivered                            largest independent bunker brokers in the industry
  – Representing about 25% market share within the                – Wilhelmsen Premier Marine Fuels will handle some
    segments                                                        7-8 million tons of bunker oil annualy
  – Sales and financial results significantly improved
    according to expectations                                   Wilhelmsen Insurance Services
                                                                  – Marine insurance and advisory services incl. insurance
TI Marine Contracting                                               brokering
  – Major supplier of low temperature insulation systems for      – A WW ASA company, but operationally incorporated in
    LNG, LPG and LEG vessels, pipes and terminals                   WMS
  – Developed new innovative solutions for LPG applications       – Insuring asset values in excess of USD 5 billion
  – Several key contracts obtained – total value 70 MUSD
  – Market share in LPG representing approx 75%                 MTS
  – Financial results according to expectations                   – E-commerce enabler providing complete electronic
                                                                    marine purchasing solutions
                                                                  – 1 100 vessels utilise MTS technology – 25 % increase
  The order book for Unitor Ships Equipment is all time
     high with a total value in excess of 200 MUSD                – Total number of transactions more than doubled

                                                                                                                           Page 5
Page 6

To top