Gotlandsbolaget: Q1 Report Marked by Seasonal Impact and New Operations
- Revenue: SEK 608.6 million (384.9)
- Adjusted EBIT: SEK -177.3 million (-66.7)
- Net result after tax: SEK -225.2 million (37.2)
- Key factor: Integration of Go Nordic Cruiseline
The first quarter of 2025 showed a predictable seasonal loss for Gotlandsbolaget, exacerbated by the inclusion of the newly acquired Go Nordic Cruiseline. Both vessels, NORDIC PEARL and NORDIC CROWN, were out of service for upgrades, heavily impacting results.
Cruise demand in the Baltic remained weak, affecting Birka Gotland’s performance. Meanwhile, capital management was negatively affected by unrealised currency changes.
Strategic Updates:
- Launch of Go Nordic Cruiseline (Oslo–Copenhagen).
- Order placed for the hydrogen-ready GOTLAND HORIZON X, a large-scale catamaran.
Leadership Changes:
- Björn Nilsson to become CEO from 7 July.
- Current CEO Håkan Johansson will take on the role of Deputy CEO and lead Destination Gotland.
Political Concern:
The Swedish government has yet to clarify the future of the tonnage tax. Without reforms by 2025, Gotland traffic will be managed from Denmark as of 2027, due to lack of competitive parity.
Looking Ahead:
Summer preparations are under way, with increased departures for Destination Gotland and Birka Gotland. Go Nordic Cruiseline also prepares for its first high season under Gotlandsbolaget ownership, with marketing launched in both Norway and Denmark.
Q1 Report: in Swedish