Tag: Financial statements 2023 | Ferry Shipping News

• The shipping company achieved a historic €652 million in turnover (+15%) and recorded an EBITDA of €117 million (-16%) in its 25th anniversary year.
• Passengers 5.2 million
• Vehicles 1.4 million
• Cargo lane metres 7.4 million
• The company invested €113million, mainly in sustainability and digitalisation.
• Baleària’s environmental commitment was expanded through the addition of two electric-powered vessels and the construction of the second gas-powered fast ferry.
• The ratio of tons of CO2 emitted per mile decreased by 8% thanks to the increased use of natural gas and other eco-efficient measures.
• Staff numbers reached a record high of 2,500.
• Social cash flow hit €730 million.
• Owning fleet of 30 ships, as well as operating a dozen chartered ships, Baleària offered 25 routes in six different countries.
• By business area, 59% of the turnover corresponds to the passenger area and 36% to cargo transport.
• 75% of the turnover comes from domestic routes, while the remaining 25% is from international connections.

Press release (in Spanish)

Sustainability Report (click on picture below)

January–December 2023

• Revenue EUR 680.7 (736.1 in 2022) million.
• Result EUR 60.3 (133.3) million.
• EBITDA, EUR 166.3 (221.2) million.
• Finnlines transports a third of the 1 million trucks carrying goods between Finland, Sweden, and Continental Europe every year.
• In 2023, Finnlines transported 710,000 cargo units, shipped 157,000 cars, and carried 1,344,000 tons of non-unitised freight, and 695,000 passengers.

Tom Pippingsköld, President and CEO, in conjunction with the review:

“The high interest rate environment has negatively affected private consumption, construction sector and industrial demand. Finnlines had to face multiple of issues during 2023 which weakened our result, apart from higher interest rates were, strike in February, start-up costs of a new vessel, dockings of several vessel to name few. The same matters seem to continue at the beginning of this year, but we are seeing now improved industrial activity and private consumption has bottomed out. ECB should now understand to quickly bring the interest rates down in order to prevent neither a stagnant nor recessionary development in EU area, instead, their task is now to fuel growth in EU.”

“We are finally, closer than ever, to open a new RoPax line between Sweden and Poland, from Malmö to Swinoujscie.”

Finnlines’ Financial statements 2023, pdf

Finnlines’ Financial review January-December 2023, pdf