September 3, 2020
Traffic volumes in H1, 2020:
- -62% passengers 621,781 (1,634,408)
- -4.2% freight units 85,759 (89,503)
Financial figures H1, 2020:
- Operating revenues NOK 1,116 million (2,278) from which:
- Revenue Cargo NOK 248 million
- Norwegian Government compensation scheme NOK 129 million.
- Operating loss/profit NOK -189 million (290)
- Operating loss (EBIT) NOK -490 million (-8)
Facts
- Adverse effects in connection with the measures imposed by the authorities in response to the coronavirus.
- Extensive cost-cutting measures, including temporarily laying off employees (approximately 2 200 personnel).
- Color Line suspended all passenger traffic on all its services in mid-March, with the exception of two ships operating between Norway and Denmark and a ro-ro vessel operating between Norway and Germany.
- In mid-June, the company resumed passenger-carrying services between Norway and Denmark. At the same time, services to Germany were again permitted, with passenger embarkation in Oslo only, combined with goods traffic.
Outlook
- Color Group is expecting to report earnings that are substantially lower than last year, and results will very much be dependent on the nature of the restrictions imposed by the authorities in the coming months.
+ Strong customer base, modern tonnage, excellent track record.
