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UPDATE 1-Wallenius Wilhelmsen Q3 beats forecast, reiterates cautious outlook
November 8, 2017 / 5:29 AM / a month ago

UPDATE 1-Wallenius Wilhelmsen Q3 beats forecast, reiterates cautious outlook

(Adds poll numbers, detail)

Nov 7 (Reuters) - Car carrier and logistics company Wallenius Wilhelmsen Logistics Asa:

* Says ‍total income was $962 million in Q3, up 5% from Q2 (Reuters poll $933 million)

* Q3 EBITDA $188 million (Reuters poll $155 million)

* Q3 EBIT $104 million (Reuters poll $74.4 million)

* Q3 net profit $55 million (Reuters poll $28.5 million)

* Says ‍company maintains $100 million synergy target to have full effect from 2019​

* The board remains cautious about the outlook as the recovery in the high & heavy segment remains slow and no significant improvement for large mining shipments is expected in the short term

* In addition, continued rate pressure combined with some overcapacity in the market will continue to put pressure on the ocean business Further company coverage: (Reporting By Terje Solsvik)

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