Good morning and welcome to the second quarter result for Wilh. Wilhelmsen. It's been a quarter where things have been moving in the right direction. We've had a profit of $89 million, driven by increased revenue of around 14% and close to the same for the underlying EBITDA for our operations. Significant changes in fair value during the quarter, which I'll come back to later. Also, good profitability from joint venture and associates. It's also been a period where we've been settling the segments into operations with smaller adjustments within the organizations. World trade and ClarkSea Index has been moving in the right direction, which is very positive for our Maritime Services segment. We've seen good growth, not enormous growth, but good growth in top lines around 6%. Especially underlying operations have been okay in more or less all areas.
Marine products have been increasing, and we see a good development within our marine product portfolio. We have increases also within ships agency, and also within our ship management segment. There are, of course, certain challenges as well. There is a certain inflationary pressure within this portfolio. The good thing when our customers are enjoying higher freight rates, that's positive for our performance. At the same time, our underlying costs are then increasing, such as freight for our products. Moving then into New Energy. There's been a lot of activity during the quarter. Profitability has been good, especially driven from NorSea Group. It's a strong quarter from a seasonality perspective. Regardless, I think we are pretty happy with the performance that we have seen. Within Edda Wind, things are moving in the right direction.
Eight ships in the total fleet, including new builds, five of them on contract. We also announced a joint venture with Parkwind during the quarter. This is something which is, say, far in front of the development, but the idea is to align ourself towards the offshore wind segment and especially now with this joint venture towards Utsira and Sørlige Nordsjø. We will see how that goes going forward. There's a lot of interesting opportunities within this portfolio which we like to develop. On strategic holding and investments. There's been significant changes and developments within Wallenius Wilhelmsen. They announced their results yesterday, and with an adjusted EBITDA of $ 205 million, which is significantly up from previous periods. Volumes for both cars and high and heavy is up, and the supply-demand balance on capacity is coming into a much tighter position.
Of course, costs will increase there as well, but overall, the underlying fundamentals are much stronger. Hyundai Glovis has had a fantastic increase in value during the quarter, which we of course see in the results for the group. Looking into the coming period, I think we are still there, that the underlying activities will remain to be solid. As I mentioned initially, the ClarkSea Index has been on the rise significantly, actually. Of course, that's positive, especially for the Maritime Services segment. The cruise industry has still not fired up on all cylinders. That's an important customer group for us, and we do not see cruise coming back to pre-pandemic levels, at least in the shorter term. It's slowly but surely coming into play.
As I mentioned, inflationary pressure is creeping in to the Maritime Services segment, which is something we have to tackle on a daily basis, and I think we have proven in the past that we are pretty good on the overall cost control and able to match both revenue and costs. New Energy, NorSea Group seasonality, the third and fourth quarter is normally lower activity than the second quarter, so that will probably happen this year as well. Regardless, I think there is a high activity level overall throughout the segment, and we do foresee that to happen also going into the next quarters. We will work on the partnerships and the business opportunities that we have, both that we see and also that we have actually acquired or that we have in process.
When it comes to strategic holding and investments, we do see that the underlying fundamental continues to be strong into at least near- to medium-term future. That's just some overall comments as to the activities and occurrences during the quarter. Christian Berg will now come and do the numbers in more detail, and then we will open up for some questions afterwards. Thank you. Christian.
Thank you.
Thank you.
Let's see. Here we go. Digging in a bit more to the numbers as Thomas gave you a short note on. Good numbers in all segments. Strong EBITDA development from previous quarter of up 29%, of which Maritime Services contributed with $23 million and New Energy with $18 million. Also, as explained, JVs and associates giving better numbers specifically from Wallenius Wilhelmsen contributing with $5 million and New Energy with just about $3 million for the quarter. The biggest number in the period, giving the change in the fair value, coming from specifically Hyundai Glovis, change of $77 million. For the quarter, them giving a pretty strong earning per share at close to $2 per share. Going a bit further into the numbers of Maritime Services, $135 million top line for the quarter, 6% up year-over-year.
As Thomas alluded to, Maritime products continued its recovery from pre-pandemic, but due to the cruise industry not back where we belong in a way. Agency was also up for the quarter as also explained, but non-marine products is down due to the seasonality and you could also say that some of the products are not that much in favor as they used to be one year ago, typically the sanitizing products. Ship management also up. Of the $135 million, ship management accounts for around $12 million, but u p 9% year- over- year for the period. EBITDA of $23 million. As you can see at the graph pretty much picking up pre-pandemic, but not all the way up there, but getting close both on margin and absolute level to come.
With an outlook pretty much in the more positive area, we foresee even further growth coming forward for the next quarters. On the New Energy side, top line of $85 million, up 14%, very strong growth. Also, as Thomas alluded to, we see a pretty good backlog going forward into the next quarters and even into next year. We foresee a good development also in the New Energy area, specifically in the NorSea Group. We also have seen a quarter which is pretty good on the NorSea Wind. Of the $85 million top line, $12 million or $10 million comes from NorSea Wind in the period. A strong EBITDA of $18 million.
As again, seen on the graph, that's basically in the area of pre-pandemic, so being back in the same kind of level, and pretty healthy margins of 22% for the period. Even also coming from their JVs and associates, $3 million specifically from Edda giving $1 million and Coast Center Base giving close to $1 million as well. Again, as earlier alluded to, strong quarter for New Energy. On the strategic holding and investments, very good quarter when it comes to development of asset values. Of the $81 million changes in fair value, the $77 million comes from the change in the Hyundai Glovis share, and the remaining $5 million comes from the Qube Australian engagement that we do have so strong development. On the associate side, $5 million from the numbers of Wallenius Wilhelmsen given out yesterday.
Even also the asset management giving $9 million in other financial income for the period. As you can see on the graph on the right side, pretty much doubling the values from the start of the pandemic until the period we're in now. Very good development the last year or so in this area. Coming to the cash flow from the first half year. If you dig into some of the boxes, both operating from Maritime Services and New Energy, good cash flow. What we will see in the period to come and also have seen is that growth in revenue will also pick up growth in working capital. For the moment, we don't see that we are picking up as much as we took it down during the pandemic.
We will, of course, try to work out in the future to maintain as efficient level as possible. We foresee that we are able to actually be more efficient than we were pre-pandemic on the working capital on our operating areas, specifically in Maritime Services and New Energy. On the investing activities, basically, the main investing activities and the main investment we've been making in the first half year is the investment in Edda Wind and some smaller other investments as well. During the period, we have paid $26 million in dividend and reduced debt and also paid dividend to all the shareholders in treasury during the period. A strong cash flow period as well, tying up a bit more in working capital and reducing debt through the period is sort of the headliners for the first half year.
Not that much movements in the balance sheet, but as previous periods, a very strong balance sheet. We do see on the right side that we do have loans that are due to be refinanced, repaid during a couple of years. You could expect us for the next year to work on that graph to make sure that we have a longer tenor on the first couple of years tenors that we do see in the graph on the maturity side. That's something we will work on in the year to come to prolong that tenor. As mentioned earlier, we did pay a dividend in the first half year of NOK 5 per share.
That was sort of a NOK 3 plus a NOK 2 in extraordinary dividend due to the reduced dividend in 2020, which was caused by the potential effects of the COVID at that time. We try to compensate for that in the first dividend period. Also bearing in mind that we have an authorization to the board to distribute up to additional NOK 3 per share during 2021. I guess that's basically the highlights for the quarter and some for the first half year.
We do not have any questions from the online audience right now.
Oh. If there are not any questions.
There is a time lag, if we give it 10 seconds or so. There is a short lag in the webcast, at the moment we have no questions.
We might give it some time. No?
Any questions on that? No, I think we're good.
Okay. Thank you very much and looking forward to next quarter. Thanks, Tristan.
Thank you.