April 26, 2024
In 2023, Stena Line’s diversified business model once again proved resilient in a disruptive global world. Financial performance was strong and liquidity developed positively. The Stena Group is more stable than ever before. Excluding the profit from a ship sale, Stena AB still delivered by and large the same profit in 2023 as in 2022.
Stena Line
- Share of the Groups total income: 34%
- Total Income: MSEK 18,900 (17,500)
- In 2023, the European market was characterised by considerable turbulence due to high inflation, recession and war in the nearby region. These complex market conditions had significant impact on Stena Line’s cost structure. Despite these challenges, Stena Line managed to deliver a result that exceeded expectations.
- In 2023, Stena Line made investments in ports to further strengthen its role as a leading player in European infrastructure. The company is the leading ferry operator in the Irish Sea. In this expansion area, Stena Line signed long-term agreements to operate the ports of Heysham and Birkenhead in the UK until the year 2100. The company also signed an agreement for the construction of a new port in Immingham.
- Stena Line saw increased employee satisfaction and participation in surveys, emphasizing the importance of diverse representation and fostering an inclusive workplace culture.
Stena RoRo
- Share of the Groups total income: 2%
- Total Income: MSEK 1,100 (6,500)
- Stena RoRo’s result was supported by the last decade’s long-term investments in the development of the E-flexer hybrid vessels, which have set a completely new sustainability standard in the RoPax segment. The strategic investment in these vessels makes Stena RoRo well-positioned in terms of meeting the new environmental requirements for shipping from the EU and IMO. This is already a strong competetive factor which is expected to increase in importance in the future.
- Stena RoRo has so far ordered 13 Stena E-Flexer hybrid vessels. Nine of these have been delivered and two more will be delivered in 2024.
- During 2023, Stena RoRo received orders from Stena Line for two new freight ships, known as New Max.
- Stena RoRo sees a great potential for old vessels to be deployed for a new function, as accommodation vessel.
Stena Sphere
The Stena Sphere consists of the three parent companies, Stena AB, Stena Metall AB and Stena Sessan AB. A total of 22,000 people are employed in the Stena Sphere. Total income for 2023 was SEK 96 billion. Profit before tax amounted to SEK 4.3 billion.
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