August 20, 2020
With more new vessels added, and new route contracts, the ferry division of Fjord1 has done a good job with a revenue increase of 14%.
The tourism division (fjord sightseeing etc) was of course affected by the absence of foreign travellers.
Highlights
- New ferry contracts secured revenue growth of 9% and EBITDA-margin of 33%
- Ferry and Passenger Boats are shielded by contract structures based on capacity and sailing frequency, not traffic volumes.
- Continued operating profit for Catering despite revenue reduction
- Negative results from joint ventures and associates in Tourism due to strict Covid-19 travel restrictions. There was rise in domestic tourism in July.
Ferry Division Q2
+14% Revenue NOK 698 million (612)
+17% EBITDA NOK 227 million (194)
+15% EBIT NOK 112 million (97)
Fjord1 now has 5 “electric” routes
- Anda-Lote on E39 outside Sandane (GLOPPEFJORD and EIDSFJORD)
- Krokeide-Hufthammar outside Bergen (MØKSTRAFJORD and HORGEFJORD)
- Husavik – Sandvikvåg outside Bergen (HUSAVIK)
- Brekstad-Valset in Trøndelag (VESTRÅTT and AUSTRÅTT)
- Hareid-Sulesund on Sunnmøre (HADARØY, GISKØY and SULØY)
Renewal programme comprising 25 vessels coming to an end
- Delivered in Q1: FLORØY, SILDAFJORD, GRIP, BØMLAFJORD and SMØLA
- Delivered in June: MØRING
- The last vessel in the current programme was delivered in August
