Revenue +56.8%
Passenger revenue +89.7%
Passenger volume +87.5%
Freight revenue +28.5%
Cargo units +25.3%
Since AURORA BOTNIA was taken into operation on 28 August, the departure frequency increased by 39%
The result before year-end appropriations and taxes was EUR +628,392 (-726,893 in 2020).
Grandi Navi Veloci has officially announced the purchase of the ropax ship CAP FINISTÈRE from Brittany Ferries which is currently en route to the port of Naples where will be renamed GNV SPIRIT.
The Nuova Meccanica Navale shipyard will take care of it with some refitting works and repainting the vessel with the company’s distinctive livery.
Once she enters service before next summer season, GNV SPIRIT will take GNV’s fleet to 25 ferries.
Vincenzo Onorato’s holding company Onorato Armatori made public a statement in which he calls the Italian economic development Ministry to act as fast as possible in order to accept the debt restructuring plan proposed under the ‘concordato preventivo’ procedure.
Tirrenia in Amministrazione Straordinaria, the State-owned bad company born when the former public shipping company Tirrenia was sold to Moby in 2012, has a credit valued roughly EUR 180 million and its vote on the plan is particularly important for the positive (or negative) ending of this long-lasting story regarding Compagnia Italiana di Navigazione (Moby’s subsidiary controlling and operating Titrenia’s brand, ships and routes).
The Court of Milan postponed the meeting of creditors on 20th and 27th June 2022 respectively for Moby and CIN setting the date for 31 March 2022 as a deadline for filing, inter alia, the agreement with Tirrenia di Navigazione in Amministrazione Straordinaria which represents the main CIN creditor.
Tallink Grupp reported a net loss of EUR 56.6 million for 2021 (net loss of 108.3 million reported for the full year 2020) with a strong second half of the year resulting in a marginal net profit for H2.
The group’s unaudited results for 2021 (in EUR)
The strong result considering the ongoing pandemic challenges was achieved despite the company’s passenger numbers decreasing by 21% compared to 2020 and amounting to a total of 2,961,975 passengers.
The company’s cargo transportation continued on a steady path with the number of cargo units carried in 2021 increasing by 2.6%.
Tallink Grupp managed to secure a net profit in H2. The result can partly be attributed to the re-opening of the Tallinn-Stockholm route in July 2021 after a 15-month suspension and the Helsinki-Stockholm route in August after a 16-month suspension. Both routes immediately attracted passengers especially at the time when the vaccination drive in Baltic sea countries had had an initial positive impact on reducing the spread of the virus during summer 2021 and the temporary easing of travel restrictions during Q3 2021.
Other positive contributors to the marginal net profit in H2 were the various charters.
The company’s key project into the future continues to be the build of the company’s new shuttle vessel MYSTAR, which is now due for completion and delivery in 2022.
Part of the efforts to ensure liquidity in 2021 also included omitting dividend distribution and the Management Board will propose not paying a dividend in 2022 as well.
“We have faith in 2022 being a year of change for the positive from the COVID pandemic point of view and we are gearing our business up for it. Our customers tell us that they are ready to and want to return to the Baltic sea with us and we have made all the preparations to make this return to cruising on the Baltic sea as memorable and enjoyable for everyone who joins us on board. We have every intention to keep the Baltic sea cruising tradition alive with our colleagues and customers in 2022 and beyond.”
Tallink Grupp’s CEO Paavo Nõgene
January– December 2021 (compared to January–December 2020)
Outlook for the financial year 2022
Q3 2021
2 million vehicles = +26% (compared to Q3 2020) = -2% (compared to Q3 2019)
4.1 million pax = +43% (compared to Q3 2020) = -14% (compared to Q3 2019)
Year-to-date
6.7 million vehicles = +26%
14.2 million passengers = 34%
Q3 ending December 31, 2021 in CAD
Net loss -1.6 million (98.5 million) primarily as a result of the timing of recognition of ‘Safe Restart Funding’
Revenue 222.2 million (311.9 million)
Without the recognition of ‘Safe Restart Funding’ in both periods, revenues would have been 203.0 million, an increase of $45.9 million compared to the same period in the prior year.
Operating expenses were 209.5 million (199.0 million). This increase is due mainly to providing more round trips and higher fuel prices.
Year-to-date since April 1, 2021, net earnings were $83.0 million compared to $74.3 million in the same period in the prior year primarily as a result of higher traffic volumes and net retail sales, partially offset by lower ‘Safe Restart Funding’ applied to the current year and higher operating expenses.
During the Annual General Assembly of the Association of Passenger Shipping Companies (SEEN), for the report of 2021, the Chairman Mr. Michalis Sakellis pointed out the following:
“In 2035, out of the 107 ferries that are currently serve on the Hellenic Coastal Lines, 52 will be older than 40 years, while 20 of them will be older than 50 years.
Michalis Sakellis
On Tuesday, February 22, 2022, the General Assembly of SEEN was held and the nominations for the election of a new Board of Directors with a three-year term took place. At the first meeting of the Board of Directors on February 23, 2022, it was formed in a House and the positions were distributed to the new members as follows:
Following a proposal by Mr. Paschalis, the new Board of Directors awarded Mr. Michalis Sakellis the title of Honorary President of SEEN.
Wednesday 23 Feb 2022 – The Hellenic Fire Service requested the transfer of EUROFERRY OLYMPIA at the safe port of Astakos (Etoloakarnania), in order for the Special Forces (EMAK) to continue smoothly their operations with the maximum possible security.
According to the recent official press release from the Hellenic Ministry of Shipping, the Fire Brigade informed that the operational possibilities of search and rescue on the burning ship in her current position have been completed. The ship is currently in the sea area of Kassiopi north of Corfu. The Ministry of Shipping contactedthe company that has taken over the management of the ship for the appropriate safety actions, in order to move her to the port of Platygiali, in Astakos (Etoloakarnania).
The fire on Grimaldi’s EUROFERRY OLYMPIA broke out on the third garage deck on February 18 in the sea area northeast of Ereikoussa during her scheduled trip from Igoumenitsa to Brindisi.
EUROFERRY OLYMPIA will be replaced on the Igoumenitsa-Brindisi line by FINNCLIPPER (Finnlines).