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Tag: interim report | Ferry Shipping News

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.

Jun 23
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Stena AB: Interim Report

By | 2022 Newsletter week 25 | No Comments

Period: three-month period 1 January – 31 March 2022 (compared with same period last year)

Stena AB

  • Consolidated EBITDA: 1,960 (1,054) million SEK
  • Consolidated EBITDA, excluding net gain on sale of assets and change in fair value of investment properties: 1,711 (845) million SEK
  • Result before taxes –701 (–1,129) million SEK
  • Strong liquidity position. As of 31th of March 2022 available liquidity amounted to SEK 18.0 billion.

Ferry Operations

  • Revenue 3,315 (2,312) million SEK
  • Operating profit/loss –61 (–299) million SEK
  • EBITDA 668 (317) million SEK
  • +6% freight volumes
  • +126% car volumes
  • +84% passenger volumes (mainly due to Covid-19 restrictions on travel in 2021.

RoRo Operations

  • EBITDA from chartering out roro vessels 139 (73) million SEK mainly due to the delivery of CÔTE D´ OPALE in May 2021 and SALAMANCA in November 2021, offset by vessels sold in 2021.
Jun 04
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Stena Group Q1 Interim Report: Covid-19 Impact

By | 2020 Newsletter week 23 | No Comments

Ferry Operations were of course hit by the plunge in passenger volumes and the decrease in freight, due to Covid-19.

  • -53% EBITDA SEK 265 million
  • -10% cars
  • -15% passengers
  • -7% freight

Stena Line has taken steps to mitigate the financial impact of the Covid-19 situation. This includes closure of routes, reducing costs and number of employees.

RoRo Operations: chartering out of vessels

  • -9% EBITDA SEK 70 million

The decrease is mainly due to lower charter income due to the sale of KAIARAHI in the Q4 of 2019 offset by strong contract coverage and utilisation across the fleet.

Source: Stena AB Group Q1
Nov 30
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Stena Group: Highlights From The Interim Report

By | 2018 Newsletter week 48 | No Comments

The Ferry Operations Division has produced positive results for the Stena AB Group.

EBITDA, excluding net gain on sale of assets, increased compared to last year due to continued increased volumes for cars (3%), freight (3%) and passengers (2%)

Stena RoRo secured long term charters for three ro-pax newbuildings:

  • a 5+5 year bareboat charter with Brittany Ferries with delivery 2020 –
  • a 10-year bareboat charter with Brittany Ferries with delivery 2021
  • a 10-year bareboat charter with DFDS with delivery 2021
  • Stena has decided to exercise its option to build a seventh and eighth E-Flexer vessel. The two vessels will be deployed within Stena Line’s route network with a planned delivery in 2022.
  • Additionally, Stena RoRo has secured an option on the construction of a further three E-Flexer vessels also to be built at Avic Weihai Shipyard, China.
  • A total of eight vessels have now been ordered by Stena from Avic Weihai Shipyard in China. Three of the vessels will be chartered out to external ferry operators by Stena RoRo.

STENA CARRIER has been sold and delivered in August 2018.

STENA FREIGHTER has been sold and delivered in October 2018.

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Mar 01
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FERRY FINANCE

By | 2018 Newsletter week 09 | No Comments

Tallink Grupp Earns Record Amount Of EUR 967 Million Revenue In 2017

According to the unaudited financial results, Tallink Grupp AS earned a record amount of EUR 967 million revenue in 2017. In addition, the group’s highest ever number of passengers in one year – over 9.8 million – significantly increased the revenue of the group’s restaurants and shops to nearly 537 million euros, taking the Grupp’s net profit for 2017 to a total of EUR 49 million.

Compared to the previous financial year, the Grupp’s turnover increased by 3.1% and the net profit by 11.8%.

The launch of the Grupp’s newest vessel, Megastar, on the Tallinn-Helsinki route early in the year increased the capacity of this route and improved the efficiency.

The most positive development in 2017 was the growth of the cargo business. The Cargo volumes increased in all geographical segments in total by 11.0%, the cargo revenues increased by 13.3% or EUR 13.8 million compared to last year and amounted to EUR 117.7 million in 2017.

AS Tallink Grupp Unaudited Consolidated Interim Report Q4 2017
Nov 16
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Q3 Interim report: cargo keeps DFDS on track for record results

By | 2017 Newsletter week 46 | No Comments
  • Freight is pushing the DFDS figures to record levels, while the passenger volumes stay the same.
  • Strong performance for freight on North Sea routes: volumes up 8%
  • Revenue DKK 3,922 (3,799) +3.3%
  • EBITDA DKK 976 million (972 million) +0.4%
  • EBIT DKK 742 million (738 million) +0.5%
  • Profit before tax DKK 714 Million (732 million) -2.6%)
  • The Group’s revenue growth for 2017 is now expected to be around 3% compared to previously around 4%, excluding revenue from bunker surcharges.
  • At the Q&A session, DFDS CEO Niels Smedegaard said there were no plans for new cruise ferries. Current vessels can continue for 10 years if needed.
Download report here
Nov 09
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Tallink Grupp’s Q3 interim report

By | 2017 Newsletter week 45 | No Comments

Q3 in figure

  • 2.9 million passengers (+2%)
    Revenue EUR 282.7 million (EUR 273.6 million) +3.3%
    EBITDA EUR 75.4 million (EUR 67.1 million) +12.3%
  • Net profit EUR 47.8 million (EUR 42.8 million) + increased by 11.7%.

In Q3, the Group’s revenue and operating result were impacted by following operational factors

  • After the rerouting of ships in December 2016, carriage capacity increased on a number of operated routes.
  • During June and August, one cruise ferry operated the Tallinn – Helsinki route in contrast to two cruise ferries in last year.
  • Increased competition on Tallinn – Helsinki route.
Read full report here
Oct 26
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Interim 8-month report Rederi AB Gotland

By | 2017 Newsletter week 43 | No Comments

Rederi AB Gotland, a subsidiary of Trojaborg AB, published its interim report for the period 1 January – 31 August 2017 (the full year ends 31 December).

The company has subsidiaries in the hotel business, property management, tanker shipping, ship repair and ferries. The latter operates as Destination Gotland AB between mainland Sweden and the domestic island of Gotland with ro-pax ferries VISBY and GOTLAND, HSC GOTLANDIA and GOTLANDIA II, and ro-ro GUTE.

The current agreement for Gotland traffic with the Swedish Transport Administration extends until January 2027. The company has two LNG ro-paxes on order in China.

Group’s operating profit amounted to SEK 327 million (374).

Profit after financial income and expenses decreased from SEK 382 million to SEK 304 million.

Turnover was SEK 1,653 million (1,528).

Photo : GOTLANDIA © Mike Louagie

Download the full report here (in Swedish)