Finnlines’ Financial review January–September 2022

By 5 November 20222022 Newsletter week 44
November 5, 2022

Key figures

  • +31% Revenue EUR 558.4 million
  • +42% Result EUR 105.2 million
  • EBITDA, amounted to EUR 169.2 (121.2 in 2021) million.
  • Financial performance has improved although consumer and business confidence has been hit by the war in Ukraine, accelerating inflation and soaring energy costs.
  • Considering the economic instability, freight volumes have been fairly good during the first three quarters of 2022.

Finnlines introduced three new Eco-class hybrid roro vessels, which operate on the route Bilbao–Zeebrugge/Antwerp–Travemünde–Helsinki/Kotka.

In July, Finnlines launched a new freight route between Rosslare, Ireland, and Zeebrugge, Belgium, providing an important link between Ireland and rest of Europe. This line was highly welcomed by the market and, therefore, a smaller ro-ro vessel was quickly replaced by a larger vessel with nearly 4,200 lane metres for cargo.

The EUR 500 million investment programme includes two Superstar ro-pax vessels in addition to the three hybrid ro-ro vessels already in service. Both vessels will have capacity to carry 1,100 passengers, which is about twice the capacity of the existing ro-pax vessels on the route. The cargo capacity will increase from just over 4,000 lane metres in the current vessels to 5,200 lane metres. The new vessels will start operating on the Naantali–Långnäs–Kapellskär route in autumn 2023.

FINNSIRIUS and FINNCANOPUS will significantly enhance the passenger experience