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Tag: Gotlandsbolaget | Ferry Shipping News

Mar 22
1

Gotlandsbolaget: 2023 marked by economic recovery

By | 2024 newsletter week 12 | No Comments
  • Entered 2023 with historic loss but made necessary decisions in 2022.
  • Economic recovery in 2023 due to stabilized fuel costs, streamlining, and adjusted ticket prices.
  • Achieved adjusted operating profit of 161.7 MSEK, turning loss into profit.

Financial performance:

  • Revenues at 2,366.4 MSEK, lower than previous year.
  • Costs at -2,187.6 MSEK, lower due to discontinuation of Rostock line and vessel divestment.

Transition in fuel:

  • Shifted from LNG to MGO in 2022 to mitigate fuel cost increases and avoid Russian gas.
  • Negative impact on emissions.
  • Started gradual return to LNG due to stabilized fuel prices.

Long-term goal of climate-neutral travel by 2045 remains despite challenges.

  • Challenges include low requirements in ongoing tender by Trafikverket for new technology investments.

Gotlandstrafiken’s role:

  • Submitted bids for 2027-2035 concession period.
  • Confidence in ability to adapt regardless of concession outcome.
  • Opportunity to operate during peak demand even without main concession.

Focus on development and expansion:

  • Strong liquidity supports investment in ships, properties, and new ventures.
  • Acquisition of Birka Gotland and partnership with Viking Line for Baltic cruises signals focus on passenger shipping.
  • Investing in biogas production on Gotland and exploring further investments in fossil-free fuels.
  • Exciting prospects and significant investments in local hotel and property operations on Gotland.

Read the annual report (in Swedish) here.

Remark

EQT-owned Molslinjen demands that the tender for the ferry service to Gotland be redone. In a letter to the Minister of Infrastructure and to the Swedish Transport Administration, it is claimed that the tender requirements are bad for the environment and cost the state SEK 5 billion in unnecessary expenses.

Source: Dagens industri (in Swedish, and paywalled)

Feb 23
1

Austal and Gotlandsbolaget sign MOU to construct a multi fuel, low emission, high-speed catamaran

By | 2024 Newsletter week 08 | No Comments

Austal and Gotlandsbolaget have signed a Memorandum of Understanding to develop a construction contract for the ‘Gotland Horizon X’ catamaran concept, first announced in April 2023.

‘Gotland Horizon X’ is a high-speed aluminium catamaran that will utilise gas turbines in a combined cycle to transport up to 1,450 passengers, cargo and vehicles between the Swedish mainland and the island of Gotland.

Under the terms of the MOU and proposed construction contract, the high-speed catamaran will be designed by Austal and constructed at the Austal Philippines shipyard.

Dec 08
0

Viking Line + Gotlandsbolaget = BIRKA GOTLAND

By | 2023 Newsletter week 49 | No Comments

In August, Viking Line and Gotlandsbolaget presented a new joint investment in cruise traffic between Stockholm, Mariehamn and Visby. Now it is clear that the Baltic Sea’s new cruise vessel will be called BIRKA GOTLAND.

Under the leadership of CEO Susanne Kaarnimo-Knight, BIRKA GOTLAND will offer cruises from the end of March 2024.

Around Easter 2024, the first cruise will depart from Stockholm to Mariehamn. During spring and summer, the ship will also go via Visby on selected departures.

After that, the destinations are gradually expanded during the summer months with several popular destinations such as Härnösand, Ystad, Bornholm and Riga.

Nov 24
0

Gotlandsbolaget: Q3 and First 9 Months

By | 2023 Newsletter week 47 | No Comments
  • Despite a slight decrease in the number of travellers, Gotland remains a strong summer destination.
  • Measures taken to strengthen the results, such as efficiency improvements and adjusted ticket prices, have had a positive economic impact, leading to an improved adjusted operating result compared to the loss in 2022.
  • During Q3, Trafikverket distributed the procurement documentation for the contracted Gotland traffic for the period 2027–2035. The primary goal is to renew confidence, but in the event of not winning the contract, there are plans to continue operating traffic between Gotland and the mainland.
  • Additionally, efforts are ongoing for the development of a new cruise line in collaboration with Viking Line, investments in accommodation facilities on Gotland, local biogas production, and technological advancements to reduce emissions from ferry traffic.

Q3, 2023

  • Revenues: SEK 968.5 million (1,140.2)
  • Costs: -690.9 MSEK (-958.4)
    • Revenues and costs are lower than the previous year.
    • Mainly impacted by items related to Stockholms Reparationsvarv and Hansa Destinations.
    • Also influenced by ships sold during the second half of 2022 and the first half of 2023.
  • Adjusted Operating Profit: SEK 277.6 million (181.8)
    • Corresponding to SEK 111.0 (72.7) per share.
    • Improvement due to the negative result for Hansa Destinations in the previous year.
    • Adjusted prices in Gotlandstrafiken and stabilized fuel prices contributed to the improvement.
  • Capital Gains on Sale of Vessels: SEK 19.1 million (0.5) net.
  • Financial Net: SEK 17.3 million (4.8)
    • Higher interest rates and increased investments in the money market.
    • Negative exchange rate effects.
  • Profit After Tax (including capital gains on sales): SEK 247.2 million (162.9)
    • Corresponding to SEK 98.9 (65.1) per share.

First 9 months of 2023

  • Revenues: 1,895.5 MSEK (2,395.3)
  • Costs: -1,711.4 MSEK (-2,363.0)
    • Both revenues and costs for the period are lower than the previous year.
    • Mainly due to the inclusion of items related to Stockholms Reparationsvarv and Hansa Destinations in the previous year.
    • Also influenced by ships sold during the second half of 2022 and the first half of 2023.
  • Adjusted Operating Profit: 222.9 MSEK (32.6)
    • Corresponding to 89.2 SEK (13.0) per share.
    • Improvement attributed to the negative result for Hansa Destinations in the previous year.
    • Adjusted prices in Gotlandstrafiken and stabilized fuel prices contributed to the improvement.
  • Net Capital Gains on Sale of Vessels: 280.3 MSEK (0.4)
  • Financial Net: 137.9 MSEK (10.7)
    • Positive currency exchange effects.
    • Higher interest rates and increased investments in the money market.
  • Profit After Tax (including net capital gains on sales): 503.1 MSEK (11.3)
    • Corresponding to 201.2 SEK (4.5) per share.
Aug 25
0

The Swedish Competition Authority approves cooperation between Gotlandsbolaget and Viking Line

By | 2023 Newsletter week 34 | No Comments

Viking Line and Gotlandsbolaget announced on 9 August 2023 that they are forming a joint company with the task of developing and offering cruises with BIRKA STOCKHOLM between Stockholm-Mariehamn and Stockholm-Mariehamn-Visby.

The completion of this business transaction and the start-up of the new joint venture are contingent on the approval of the Swedish Competition Authority. The Swedish Competition Authority has (on August 23, 2023) announced that they are deciding to leave the concentration without action, which means that the deal is proceeding according to plan.

May 19
0

Gotlandsbolaget: Interim report January-March 2023

By | 2023 Newsletter week 20 | No Comments

Gotlandsbolaget closed 2022 with a strong negative operating result, above all due to extreme fuel prices. One of the measures taken to stop an escalating continued loss, was that Destination Gotland adjusted the ticket prices. The operating profit for the first quarter of 2023 is, as expected, negative due to the low season, but stabilized fuel prices and the effect of the decisions taken at the end of 2022 lead to an improvement compared to the same period in 2022.

The stabilized fuel prices have meant that Destination Gotland has been able to lower its ticket prices from April and forwards.

Quarter January-March 2023

Revenues and costs during the quarter are lower than the previous year mainly as a result of items relating to Stockholms Reparationsvarv and Hansa Destinations being included, as well as for the four product tankers that were sold in autumn 2022.

Adjusted operating profit amounted to SEK -62.9 million (-98.5), corresponding to SEK -25.2 (-39.4) per share. The improvement is due to the previous year’s result being burdened by a negative result for Hansa Destinations, as well as adjusted prices in Gotlandstrafiken and the fact that the price of fuel has stabilised.

Revenues and results are normally low during the first quarter as a result of the low season for Gotland’s hospitality industry, which also historically means a negative result.

Net sales losses on the sale of the vessels VALENTINE and HSC GOTLANDIA amounted to SEK -30.5 million.

The complete interim report for the period January to March 2023 is available here in Swedish.

Mar 31
0

Gotlandsbolaget starts a cruise project

By | 2023 Newsletter week 13 | No Comments

In 2024, Gotlandsbolaget, together with subsidiary Destination Gotland, will start to offer cruises, as a complement to existing Gotland ferry traffic.

The Swedish company purchased the passenger-only BIRKA STOCKHOLM from Rederiaktiebolaget Eckerö for approximately EUR 38 million.

The vessel will be used in traffic between Stockholm, Mariehamn and Visby (Gotland).

Because of the special status of Mariehamn (Åland), tax free sales will be possible.

Mar 24
0

Gotlandsbolaget published its annual report

By | 2023 Newsletter week 12 | No Comments

January-December 2022:

  • Revenues SEK 2,918.8 million (2,336.5)
  • The increase is due to increased traffic revenue for Destination Gotland, new revenue for Hansa Destinations and an improved product tank market.
  • The costs amounted to -3,048.2 MSEK (-2,212.6).
  • Increased costs during the year are mainly due to higher fuel prices for Destination Gotland and Hansa Destinations.
  • Adjusted operating profit amounted to SEK -129.4 million (123.9), corresponding to SEK -51.8 (49.6) per share.
  • The total adjusted operating profit for the companies that operate ferry traffic (Destination Gotland AB and Hansa Destination AB) amounted to -417.2 MSEK (122.9).
  • In terms of fuel, Destination Gotland gradually carried out a temporary fuel change from LNG to MGO. The company intends to return to LNG and biogas as soon as the price picture permits, and the origin of the gas can be ensured (= non-Russian).
  • Long-term goal remains firm: Gotlandstrafiken’s carbon dioxide emissions must be reduced by 70% in 2030 (compared to 2010) and be climate neutral by 2045.
  • To reach climate goals, the company is developing the next generation of ships – the Horizon series, which will be powered by hydrogen gas. The goal is that at least one of the ships must be in service by 2030 at the latest.

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