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2020

Annual report

Purpose and strategy

Wallenius Wilhelmsen ASA (‘Wallenius Wilhelmsen’), through its operating companies, is the market leader in logistics for finished vehicles and breakbulk, offering ocean transportation and landbased vehicle logistics solutions globally. Wallenius Wilhelmsen’s purpose is ‘Sustainable logistics for a world in motion’. With vehicle logistics as its core business, the group will actively promote sustainability in customers’ value chains.

Wallenius Wilhelmsen aims to capitalise on the opportunities linked to changing markets and take an active role in defining sustainable logistics for this world in motion. Trends in the wider auto industry, such as car-sharing, autonomous vehicles, electrification and digitalisation, will bring both challenges and opportunities. Integrated logistics solutions and leveraging data will strengthen its ability to combine a wide range of services for customers and allow for growth into new revenue streams throughout the full life cycle of a vehicle.

The group’s sustainability strategy is built on the belief that there is a correlation between economic and sustainable outcomes. The goal is to lead the journey towards zero emissions by prioritising sustainable service offerings, optimising core operations to reduce the carbon footprint, and improving the efficiency and performance of our respective products and services. Through digitalising the supply chain, Wallenius Wilhelmsen aims to measure, minimise and clarify the sustainability impact across the unit life cycle for OEMs, end-users and service providers.

Sustainability is fully integrated into the group’s corporate strategy, reflecting its holistic approach to managing its environmental, social and governance (ESG) performance. Wallenius Wilhelmsen has developed a sustainability value stream within its corporate strategy with ambitious new sustainability objectives:

  • All new equipment at terminals and yards to be zero-emission by end of 2022
  • All owned global fleet vessels equipped for zero emissions at berth by 2025
  • 100% of our energy from sustainable sources by 2050

Our approach is to lead our industry towards zero emissions by bold target-setting, sophisticated ESG management, data transparency and reporting, and engaging in innovation and regulation. We set new greenhouse gas (GHG) targets to ensure we put our business on the right footing using science-based targets methodology and have begun adopting the recommendations of the Task Force on Climate-Related Financial Disclosures to help inform our climate actions and disclosures.

At the onset of the pandemic, Wallenius Wilhelmsen conducted a comprehensive review of its long-term strategy, which re-affirmed the defined pathways that set the direction for its work in the coming years. These have been rolled out across the organisation and are to:

  • Expand to full life cycle
  • Digitalise the supply chain
  • Drive operational effectiveness
  • Lead the journey to zero emissions

Organisational changes were implemented during the year to strengthen strategic alignment and to accelerate the pace of change. The establishment of the Shipping Services and Logistics Services business units bring together our capabilities in order to deliver improved services to our customers. The formation of a company-wide Customer Growth unit provides a common interface to our customers to better collaborate  across markets in defining our customer’s current and future needs. These changes will serve the ambition to deliver a seamless customer experience across the Wallenius Wilhelmsen group’s network and grow using digital tools to cover enhanced logistics capabilities.

It is a clear objective of Wallenius Wilhelmsen to provide shareholders with a competitive return over time through a combination of an increase in share value and dividend payments.