Scandlines delivered solid performance in 2023

May 17, 2024

Scandlines maintained 2023 revenue and earnings in line with 2022 levels in a challenging market environment. The ferry operator realised a record peak season for leisure, as an increased number of passengers (+5%) used Scandlines’ services (cars +3%).

Whilst freight volumes were down (-7%) from the record levels of 2022, Scandlines maintained its market share.

Scandlines maintained the positive momentum in 2023 with passengers continuing to return to the two ferry routes after years of negative impact from COVID-19 and related travel restrictions. The positive development drove moderate revenue growth of 1 percent to EUR 466 million and a solid result before tax of EUR 122 million.

Revenue from the two Germany-Denmark routes grew to EUR 369 million in 2023 from EUR 363 million in 2022 based on a solid development in total traffic volume.

Management expects revenue and profits to increase moderately in 2024 subject to realising the anticipated level of positive trends in the macro economy during 2024.

Management also expects a positive effect from the deployment of Scandlines’ new electric ferry on the Puttgarden-Rødby route in the second half of 2024.

The full annual report and the sustainability report for Scandlines Infrastructure ApS can be downloaded here.