Ro-ro shipping specialist Wallenius Wilhelmsen reported total revenue for Q2 2025 of USD1.35 billion, an increase of 4 percent quarter over quarter, thanks to an 8 percent increase in volumes offsetting lower freight rates in the shipping segment. The EBITDA for Q2 2025 of USD472 million was an increase of 2 percent quarter over quarter, mainly driven by the shipping segment.
Net profit for the period totalled USD403 million, of which USD135 million was thanks to capital gains following the sale of the MIRRAT terminal in Australia. Without that divestment, net profit for the period would have been USD268 million, up 8 percent quarter on quarter.
Year-on-year, total revenue for the group was marginally down (-1 percent), largely explained by lower revenues for the logistics segment. Year-on-year EBITDA decreased 7 percent, due to reduced contribution from logistics and government services; shipping services had a marginal increase in EBITDA.
Wallenius Wilhelmsen said the quarter-on-quarter volume increase was driven primarily by Asia exports (up 15 percent). Volumes ex-West (EU/USA) declined by 4 percent leading to a trade imbalance with more voyages starting in Asia and more vessels ballasting back to Asia. The net freight rate in Q2 was USD 64.9 per cu m, down 2 percent quarter on quarter, owing to an unfavourable customer mix and more spot cargoes booked at softer rates.
The corresponding changes year on year were an increase of 26 percent ex-East and a reduction of 34 percent ex-West. Total revenue increased 3 percent year on year as higher net freight rates more than offset the marginal decline in volumes.
The cargo mix (high and heavy/breakbulk share of total cargo volume) improved quarter on quarter and ended at 24 percent for Q2, up from 21 percent in Q1 2025 (down from 25 percent in Q2 2024).
While the market remains uncertain with geopolitical tensions and trade flows, the book of business at Wallenius Wilhelmsen was strengthened during the quarter, reflecting strong market demand for shipping. “We are pleased to continue the solid performance in Q2, delivering a very strong result, adding substantial contracts to our backlog and continuing the positive trend on safety and emissions,” said Lasse Kristoffersen, president and ceo of Wallenius Wilhelmsen.
Last month, Wallenius Wilhelmsen signed a contract to operate the port of Gothenburg’s car terminal.
