Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Yngvil S. Asheim was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Yngvil S. Asheim was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 08
Wallenius Wilhelmsen ASA, Annual General Meeting, Apr 29, 2026 Wallenius Wilhelmsen ASA, Annual General Meeting, Apr 29, 2026. Announcement • May 02
Wallenius Wilhelmsen ASA (OB:WAWI) acquired remaining 35% stake in Armacup Limited. Wallenius Wilhelmsen ASA (OB:WAWI) acquired remaining 35% stake in Armacup Limited on April 30, 2025. Upon completion, Wallenius Wilhelmsen ASA (OB:WAWI) will hold 100% stake in Armacup Limited.
Wallenius Wilhelmsen ASA (OB:WAWI) completed the acquisition of the remaining 35% stake in Armacup Limited on April 30, 2025. Announcement • Apr 30
Wallenius Wilhelmsen ASA Elects Line Hestvik as Board Member Wallenius Wilhelmsen ASA at its AGM held on April 29, 2025, Ms. Line Hestvik is elected as a board member for a period of one year. Announcement • Feb 14
Wallenius Wilhelmsen ASA Proposes Ordinary Dividend for the Second Half of 2024, Payable on 28 April 2025 The board of directors of Wallenius Wilhelmsen ASA has declared a dividend of USD 1.24 per share for second half of 2024, corresponding to 95% of net profit for the period. The dividend consists of an ordinary dividend of USD 0.65 per share based on 50% of the company’s net profit based on the company’s strong financial position. The declared dividend will be paid in NOK. Date of approval: February 11, 2025. Last day including right: March 25, 2025. Ex-date: March 26, 2025. Record date: March 27, 2025. Payment date: 28 April 2025. Announcement • Feb 12
Wallenius Wilhelmsen ASA Proposes Extraordinary Dividend for the Second Half of 2024, Payable on 28 April 2025 The board of directors of Wallenius Wilhelmsen ASA has declared an extraordinary portion of USD 0.59 per share for second half of 2024 based on the company’s strong financial position. The declared dividend will be paid in NOK. Date of approval: February 11, 2025. Last day including right: March 25, 2024. Ex-date: March 26, 2025. Record date: March 27, 2024. Payment date: 28 April 2025. Announcement • Dec 19
Wallenius Wilhelmsen ASA, Annual General Meeting, Apr 29, 2025 Wallenius Wilhelmsen ASA, Annual General Meeting, Apr 29, 2025. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: US$0.55 (vs US$0.70 in 3Q 2023) Third quarter 2024 results: EPS: US$0.55 (down from US$0.70 in 3Q 2023). Revenue: US$1.35b (up 3.2% from 3Q 2023). Net income: US$234.0m (down 22% from 3Q 2023). Profit margin: 17% (down from 23% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 18
Upcoming dividend of US$1.07 per share Eligible shareholders must have bought the stock before 25 September 2024. Payment date: 10 October 2024. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 10%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (5.9%). Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €10.91, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 321% over the past three years. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: US$0.69 (vs US$0.70 in 2Q 2023) Second quarter 2024 results: EPS: US$0.69 (down from US$0.70 in 2Q 2023). Revenue: US$1.36b (up 4.4% from 2Q 2023). Net income: US$292.0m (down 2.0% from 2Q 2023). Profit margin: 22% (down from 23% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Announcement • Aug 13
Wallenius Wilhelmsen Asa Declares Dividend for the First Half of 2024, Payable on October 10, 2024 Wallenius Wilhelmsen ASA has declared a dividend of USD 0.61 per share for H1 2024 under the new dividend policy. Date of approval: 12 August 2024, Last day including right: 24 September 2024, Ex-date: 25 September 2024, Record date: 26 September 2024, Payment date: 10 October 2024. New Risk • Jun 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change). Upcoming Dividend • May 15
Upcoming dividend of kr7.43 per share Eligible shareholders must have bought the stock before 22 May 2024. Payment date: 29 May 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 10%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (5.7%). Reported Earnings • May 10
First quarter 2024 earnings released: EPS: US$0.39 (vs US$0.34 in 1Q 2023) First quarter 2024 results: EPS: US$0.39 (up from US$0.34 in 1Q 2023). Revenue: US$1.26b (flat on 1Q 2023). Net income: US$165.0m (up 14% from 1Q 2023). Profit margin: 13% (up from 12% in 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: US$2.00 (vs US$1.61 in FY 2022) Full year 2023 results: EPS: US$2.00 (up from US$1.61 in FY 2022). Revenue: US$5.15b (up 2.1% from FY 2022). Net income: US$846.0m (up 25% from FY 2022). Profit margin: 16% (up from 14% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.6% growth forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €7.68, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 237% over the past three years. Reported Earnings • Feb 15
Full year 2023 earnings released: EPS: US$2.00 (vs US$1.61 in FY 2022) Full year 2023 results: EPS: US$2.00 (up from US$1.61 in FY 2022). Revenue: US$5.15b (up 2.1% from FY 2022). Net income: US$846.0m (up 25% from FY 2022). Profit margin: 16% (up from 14% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 61% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Wallenius Wilhelmsen ASA Proposes Dividend for the Fiscal Year 2023, Payable on 29 May 2024 and 10 October 2024 The Board of Directors of Wallenius Wilhelmsen ASA on 13 February 2024 decided to propose a dividend of USD 1.14 per share for the fiscal year 2023. The proposed dividend is to be resolved by the Annual General Meeting on 30 April 2024. Tranche 1: Dividend amount: USD 0.68 per share, Date of approval: 30 April 2024, Last day including right: 21 May 2024, Ex-date: 22 May 2024, Record date: 23 May 2024, and Payment date: 29 May 2024. Tranche 2: Dividend amount: USD 0.46 per share, Date of approval: 30 April 2024, Last day including right: 24 September 2024, Ex-date: 25 September 2024, Record date: 26 September 2024 and Payment date: 10 October 2024. Upcoming Dividend • Nov 02
Upcoming dividend of US$0.34 per share at 9.5% yield Eligible shareholders must have bought the stock before 09 November 2023. Payment date: 22 November 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 9.5%. Within top quartile of German dividend payers (5.1%). Lower than average of industry peers (20%). Announcement • Sep 14
Wallenius Wilhelmsen ASA (OB:WAWI) commences an Equity Buyback Plan for 42,310,494 shares, representing 10.01% of its issued share capital, under the authorization approved on April 26, 2023. Wallenius Wilhelmsen ASA (OB:WAWI) commences share repurchases on September 6, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 26, 2023. As per the mandate, the company is authorized to repurchase up to 42,310,494 shares, representing 10.01% of its issued share capital. The shares will be repurchased at a minimum price of NOK 0.52 per share and a maximum price of NOK 300 per share. The purpose of the buyback is to align the interest of the executive management with shareholders through awarding shares under a long-term incentive scheme. The plan will be valid up to the company’s annual general meeting in 2024, but not later than June 30, 2024. As of April 26, 2023, the company had 423,104,938 shares issued of which 586,119 shares were in treasury.
On September 5, 2023, the company announced a share repurchase program. Under the program, the company will repurchase 500,000 shares, for NOK 50 million worth of its shares. The purpose of the repurchase program is to cover obligations under the Company’s long-term incentive scheme and will be held by the Company until vested. The repurchase program will be conducted in the period from September 6, 2023, until the earlier of end of business on September 29, 2023. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: US$0.70 (vs US$0.25 in 2Q 2022) Second quarter 2023 results: EPS: US$0.70 (up from US$0.25 in 2Q 2022). Revenue: US$1.30b (up 9.4% from 2Q 2022). Net income: US$298.0m (up 184% from 2Q 2022). Profit margin: 23% (up from 8.8% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is expected to fall by 1.6% p.a. on average during the next 3 years compared to a 6.3% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 72% per year, which means it is significantly lagging earnings growth. Announcement • May 06
Wallenius Wilhelmsen ASA Approves Dividend for the Fiscal Year 2022 Wallenius Wilhelmsen ASA announced that AGM approved dividend of USD 0.85 per share for Fiscal Year 2022, totaling USD 360 million. Reported Earnings • May 05
First quarter 2023 earnings released: EPS: US$0.34 (vs US$0.37 in 1Q 2022) First quarter 2023 results: EPS: US$0.34 (down from US$0.37 in 1Q 2022). Revenue: US$1.26b (up 9.2% from 1Q 2022). Net income: US$145.0m (down 6.5% from 1Q 2022). Profit margin: 12% (down from 14% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 2.4% p.a. on average during the next 3 years compared to a 7.6% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 67% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €5.27, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 8x in the Shipping industry in Europe. Total returns to shareholders of 424% over the past three years. Upcoming Dividend • Apr 21
Upcoming dividend of US$0.51 per share at 11% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (14%). Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: US$1.61 (vs US$0.32 in FY 2021) Full year 2022 results: EPS: US$1.61 (up from US$0.32 in FY 2021). Revenue: US$5.05b (up 30% from FY 2021). Net income: US$679.0m (up 411% from FY 2021). Profit margin: 14% (up from 3.4% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 11% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has increased by 118% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 12
Wallenius Wilhelmsen ASA to Report Fiscal Year 2022 Results on Mar 16, 2023 Wallenius Wilhelmsen ASA announced that they will report fiscal year 2022 results on Mar 16, 2023 Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 17% share price gain to €9.71, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Europe. Total returns to shareholders of 374% over the past three years. Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: US$0.51 (vs US$0.12 in 3Q 2021) Third quarter 2022 results: EPS: US$0.51 (up from US$0.12 in 3Q 2021). Revenue: US$1.36b (up 37% from 3Q 2021). Net income: US$216.0m (up 324% from 3Q 2021). Profit margin: 16% (up from 5.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 11% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 02
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 09 November 2022. Payment date: 22 November 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (12%). Reported Earnings • Aug 25
Second quarter 2022 earnings released: EPS: US$0.25 (vs US$0.026 in 2Q 2021) Second quarter 2022 results: EPS: US$0.25 (up from US$0.026 in 2Q 2021). Revenue: US$1.19b (up 22% from 2Q 2021). Net income: US$105.0m (up US$94.0m from 2Q 2021). Profit margin: 8.8% (up from 1.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 13% while the Shipping industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 43% per year. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 20% share price gain to €7.45, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Europe. Total returns to shareholders of 268% over the past three years. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 19% share price gain to €6.21, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 132% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 16% share price gain to €6.37, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 129% over the past three years. Upcoming Dividend • Apr 20
Upcoming dividend of US$0.09 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 10 May 2022. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (3.9%). Lower than average of industry peers (9.3%). Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 21% share price gain to €6.00, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 113% over the past three years. Announcement • Feb 10
Wallenius Wilhelmsen ASA Proposes Dividend for the Year 2021 The Board of Wallenius Wilhelmsen ASA has decided to propose an ordinary dividend of $0.15 per share payable in 2 tranches. And in total, the proposed dividend for '21 is equivalent to about $63.5 million. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS US$0.12 (vs US$0.012 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$990.0m (up 42% from 3Q 2020). Net income: US$51.0m (up US$46.0m from 3Q 2020). Profit margin: 5.2% (up from 0.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improved over the past week After last week's 17% share price gain to €3.60, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Shipping industry in Europe. Total returns to shareholders of 10% over the past three years. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improved over the past week After last week's 16% share price gain to €3.55, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Shipping industry in Europe. Total returns to shareholders of 7.1% over the past three years. Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS US$0.03 (vs US$0.15 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$978.0m (up 61% from 2Q 2020). Net income: US$11.0m (up US$74.0m from 2Q 2020). Profit margin: 1.1% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Mar 28
Wallenius Wilhelmsen to Reactivate Final 3 Vessels from Covid19 Related Layup Wallenius Wilhelmsen has decided to reactivate the last three of its vessels that were placed in cold layup last spring due to the COVID19 pandemic. Reactivation will take place in third quarter, and the intention is that reactivated vessels will replace capacity sourced through short term charters. Earlier this year Wallenius Wilhelmsen decided to reactivate up to 12 of the 15 vessels placed in layup during last spring. Nine of these vessels have already re-entered service, while three are in the process of being reactivated and are due to start sailing again during second quarter. Customer demand, scarcity of capacity and rising rates in the time charter market continue to make reactivation of vessels in layup a more cost-competitive option. The vessel that was placed in cold layup before COVID19 will be activated in November 2021. Reported Earnings • Mar 27
Full year 2020 earnings released: US$0.68 loss per share (vs US$0.22 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$2.96b (down 24% from FY 2019). Net loss: US$286.0m (down 408% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 10
New 90-day high: €2.66 The company is up 32% from its price of €2.01 on 10 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.43 per share. Executive Departure • Mar 09
CEO & President Craig Jasienski has left the company On the 8th of March, Craig Jasienski, was replaced as CEO by Torbjorn Wist after 3.9 years in the role. As of December 2020, Craig personally held 163.19k shares (€339k worth at the time). A total of 2 executives have left over the last 12 months. Under Craig's leadership, the company delivered a total shareholder return of -47%. Announcement • Feb 18
Wallenius Wilhelmsen Plans World’s First Full Scale Wind-Powered RoRo Ship Wallenius Wilhelmsen ASA announced its most ambitious sustainability initiative to date: The Orcelle Wind – a wind-powered Pure Car and Truck Carrier that will achieve up to 90% reduced emissions compared to today’s best vessels. The company's goal is to have a design ready for contracting with a shipyard by mid-2022, and a finished vessel ready for the high seas by 2025. The transoceanic shipping industry is the most carbon efficient mode of transport, yet it accounts for nearly 3% of global man-made GHG emissions, a share that is growing. At present, the industry has no viable substitute for carbon-based fuels. Building on the Oceanbird concept developed by maritime consultancy Wallenius Marine, Wallenius Wilhelmsen will take the concept forward by applying its extensive knowledge from the RoRo business, and conduct a comprehensive viability evaluation. There are many considerations that require attention before finalising the Orcelle Wind specification. The features listed below provide a good indication of what can be anticipated: Overall car capacity of 7,000 vehicles. Ability to carry heavy machinery and breakbulk cargo, in addition to cars. Length of around 220m and beam (width) of approximately 40m. Speeds of 10-12kts under sail that can be increased with the supplemental power system. Recent Insider Transactions • Feb 16
Chief Financial Officer recently bought €11k worth of stock On the 10th of February, Torbjorn Wist bought around 5k shares on-market at roughly €2.23 per share. This was the largest purchase by an insider in the last 3 months. This was Torbjorn's only on-market trade for the last 12 months. Recent Insider Transactions • Feb 16
Chief Financial Officer recently bought €11k worth of stock On the 10th of February, Torbjorn Wist bought around 5k shares on-market at roughly €2.23 per share. This was the largest purchase by an insider in the last 3 months. This was Torbjorn's only on-market trade for the last 12 months. Reported Earnings • Feb 12
Full year 2020 earnings released: US$0.68 loss per share (vs US$0.22 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$2.96b (down 24% from FY 2019). Net loss: US$286.0m (down 408% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations Revenue exceeded analyst estimates by 0.05%. Over the next year, revenue is forecast to grow 20%, compared to a 17% growth forecast for the Shipping industry in Germany. Is New 90 Day High Low • Feb 11
New 90-day high: €2.50 The company is up 32% from its price of €1.90 on 12 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.21 per share. Is New 90 Day High Low • Jan 21
New 90-day high: €2.38 The company is up 56% from its price of €1.52 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 39% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.60 per share. Is New 90 Day High Low • Jan 06
New 90-day high: €2.29 The company is up 77% from its price of €1.29 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.06 per share. Analyst Estimate Surprise Post Earnings • Nov 12
Revenue misses expectations Revenue missed analyst estimates by 3.6%. Over the next year, revenue is forecast to grow 7.6%, compared to a 2.9% growth forecast for the Shipping industry in Germany. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS US$0.01 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$697.0m (down 27% from 3Q 2019). Net income: US$5.00m (down 85% from 3Q 2019). Profit margin: 0.7% (down from 3.5% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 89% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 10
New 90-day high: €1.93 The company is up 60% from its price of €1.21 on 11 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.23 per share. Is New 90 Day High Low • Oct 21
New 90-day high: €1.50 The company is up 25% from its price of €1.20 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.90 per share. 
