In Q1, Finnlines realised a good result despite the fact that the growth of Finnish exports and imports has slowed down.
Q1 (€)
- +2.0% Revenue 137.6 million
- -1.8% Result 16.2 million
- -0.3% EBITDA 34.2 million
Knud E. Hansen has signed a contract with Nanjing Jinling Shipyard, China, for developing the basic design of three ro-ro vessels, based on the Finnlines / Grimaldi / Knud E. Hansen design.
The vessels are based on the same hull as the Grimaldi Green 5th Generation vessels. They are sister vessels, but customized to the needs of Finnlines with regards to heavy cargo and operation in the Baltic Sea.
Some details:
- delivery as from 2021
- Finnish/Swedish ice class, 1A Super
- 5,800 lane metre
- Length over all: 238m
- The vessels will use electricity in port, with large lithium batteries. These batteries will be recharged during navigation, through shaft generators employing a peak shaving system.
- Air lubrication system
Finnlines’ Annual Report 2018 published
Finnlines has published its Annual Report for 2018. (see Ferry Shipping News 10 for comments)
Finnlines has also published its Financial Statements 2018 and Financial review Q4 2018 on 28 February 2019, which are available on the Company website as well.
Finnlines Plc published its financial review for the period January–December 2018. The Grimaldi Group company continues to perform well, with the result increasing by EUR 12.5 million to EUR 95.1 million.
Revenue also increased by 9.9% to EUR 589.4 million.
During Q4, the cargo volumes remained strong, increasing the revenue compared to last year from EUR 131.8 million to EUR 141.5 million. The result for October–December was EUR 19.7 (14.8) million.
In a statement, CEO Emanuele Grimaldi confirmed the success of the strategy:
- Growing together with the customers
- Investments in sustainable development
- Deploy larger vessels in both the ro-pax and ro-ro segments, creating economies of scale
- Route and vessel optimisation
What does the future bring?
- In April 2018, Finnlines ordered three new green 5,800-lane-metre ro-ro vessels.
- Finnlines is currently developing a new ro-pax class concept, the “Superstar” ro-pax
Several Baltic ferry companies are focusing on minimizing food waste at the buffet restaurants, a typical place where people tend to take too much.
Tallink Silja is looking at the entire food chain from the galley to the passengers. Smaller plates help a lot. However, different passenger profiles create different consumption patterns (example: 200 ice-hockey players versus 200 retired people).
Viking Line has set up signs at its buffet, where they invite people not to take more food than they can eat.
Putting smaller portions in the buffet also helped a lot. It helps the passengers to take the right sizes of portions.
Finnlines has been focusing on getting better at assessing the amount of needed food.
On the Helsinki-Travemünde route the company provides food coupons that allow the combination of a light breakfast and then a hearty lunch.
Finnlines Continues To Be A Strong Performer
Finnlines doesn’t stop to impress by its excellent results.
First nine months:
+10.7% Revenue (EUR 447.9 million)
+7.1% EBITDA (EUR 129.0 million)
+10.9% Result (EUR 75.3 million)
Q3: Best ever Q3 result again
+9.4% Revenue (EUR 158.8 million)
-0.2% EBITDA (EUR 50.6 million)
+1.5% Result (EUR 33.0 million)
The Grimaldi Group has three modern and green ro-ro vessels on order, which will add up another 17,500 lane metres to their Finnlines services. They are expected to enter service in three to four years time.
Grimaldi Group has performed very strongly in the first half of 2018:
- Revenue EUR 289.1 million (+11.5%)
- Result EUR 42.3 million (+20%)
- EBITDA EUR 78.3 million.
- Cargo units 338,000
- Passengers 304,000
Productivity has been improved with the lengthening programme, which is complete at the end of the year: six lengthened vessels = an extra 6,000 lane metres = equivalent of two vessels.
New Direct Finnlines Service Between Aarhus And Helsinki
Finnlines is reshuffling its services between Denmark and Finland and provides since 28 May a direct service between Helsinki and Aarhus.
There will also be a direct connection between Aarhus and Uusikaupunki, which offers new possibilities for cargoes between Denmark and Western Finland. Turku will be available via transhipment in Travemünde
The new weekly service between Travemünde and Aarhus is especially suitable for all kinds of rolling cargo, particularly for high and heavy cargo unable to cross the Kiel Canal bridge due to weight limitations.
Photo: Port of Aarhus © Ole Brikner
Further Capacity Increase At Port Of Kapellskär (Stockholm)
On May 8 the Finnlines vessel FINNSWAN called for the first time at the new pier at the Port of Kapellskär. This will increase the freight capacity by almost 30% on the Kapellskär – Naantali route.
She will operate together with FINNFELLOW. Cargo capacity will rise from 5,450 lane metre to 7,000.
Photo: Ports of Stockholm
”The year has started extremely well with increased revenue, EBITDA and net result,” said Emanuele Grimaldi.
The January–March 2018 result for the period increased by 48.6% to EUR 16.5 million. EBITDA came to EUR 34.3 million and revenue increased by 11.6% to EUR 134.9 million.
