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May 19
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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
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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
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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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Feb 24
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Gotlandsbolaget to dispose of fast ferry

By | 2023 Newsletter week 8 | No Comments

Gotlandsbolaget has announced that they will sell or charter the high-speed monohull GOTLANDIA II.

Gotlandsbolaget subsidiary Destination Gotland has returned the vessel to the parent company following a decision not to offer a seasonal service to Västervik.  The company’s Visby services will be maintained by the modern fast ro-paxes VISBY, GOTLAND and DROTTEN.

GOTLANDIA II was built by Fincantieri in 2006 and can carry 900 passengers and 160 cars.

The company also owns the ro-pax VISBORG, currently on charter to DFDS, and another high-speed monohull, GOTLANDIA.  It is understood that the company is also in the process of disposing of the latter fast craft, dating from 1999.

Gotlandsbolaget has an ongoing research project, named Horizon, to introduce climate neutral vessels, including a hydrogen powered catamaran.

Image: Gotlandsbolaget

Oct 06
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Gotlandsbolaget launches second zero-fossil-fuel project

By | 2022 Newsletter week 40 | No Comments

Gotlandsbolaget is launching its Gotland Hydrocat ferry concept, the world’s first large-scale, high-speed catamaran powered by fossil-free hydrogen.

This is the second vessel in the Horizon Series – Gotland Company’s concept for next-generation vessels.

The vessels are designed to be powered by fossil-free hydrogen. However, both vessels have a multi-fuel solution which allows them to be run on other fossil-free fuels with a relatively simple adjustment.

The work on developing all the necessary technology continues, and the ambition is to order Gotland Hydrocat by 2025 and have it in service by 2030.

Gotland Company has developed the model and the design of Gotland Hydrocat in partnership with Austal.

Project website “Destination Zero”