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Aug 06
0

FERRY FINANCE

By | 2020 Newsletter week 32 | No Comments

Finnlines: Essential Lifeline for Finland – Challenging Q2

 H1 2020

  • -20% Revenue EUR 236.4 million (295.5)
  • -20% EBITDA EUR 66.4 million (83.5)
  • -32% Result EUR 31.7 million (46.7)

Q2 2020

  • -33% Revenue EUR 105.8 million (157.9)
  • -43% EBITDA EUR 28.2 million (49.4)
  • -64% Result EUR million 11.0 (30.4)

Especially Q2 was extremely challenging, with almost no passenger traffic and the slowdown in global trade caused by the global pandemic.

Finnline is essential for the supply of island-like Finland. The company says that it transports more than one third of the roughly one million trucks moving over the three main sea bridges, Finland–Estonia, Finland–Sweden and Finland–Germany, which are connecting Finland to the rest of Europe.

During H1, Finnlines operated on average 19 vessels in its own traffic. The cargo volumes totalled approximately 357k (386k) cargo units, 60k (88k) cars (not including passengers’ cars) and 522k (581k) tons of freight not possible to measure in units.

In addition, some 227k (310k) private and commercial passengers were transported.

Finnlines has been following closely all the emergency measures to shipping companies, and aims for fair conditions of competition.

Download the H1 Report
Press release
Aug 06
0

Eckerö’s H1 Result also Marked by Pandemic

By | 2020 Newsletter week 32 | No Comments
  • Ferry ECKERÖ and cruise vessel BIRKA STOCKHOLM were out of service as of March 15. ECKERÖ resumed operations June 26.
  • 7 million passengers traveled with the Eckerö Group’s vessels (1.5 million last year)
  • Turnover EUR 52.8 million (EUR 102.0 million)
  • Operating profit EUR -21.8 million (EUR -7.6 million)
  • Profit including unrealized changes in market value of bunker hedges, EUR -22.2 million (EUR -5.5 million)
  • Interest-bearing liabilities EUR 99.2 million (EUR 91.8 million)
  • Net debt EUR 89.0 million (EUR 65.8 million)
  • On July 3, the Group’s intention to close down the Birka Cruises business area was announced
Download Report (in Swedish)
Aug 06
0

Port of Zeebrugge: Good Result in H1, Despite Pandemic

By | 2020 Newsletter week 32 | No Comments

H1, 2020, the total traffic in Zeebrugge grows with 14.5% compared to the same period last year. In total, 25.1 million tonnes of cargo was handled. The sectors that show the most growth are liquid bulk (LNG: +148%), container traffics (+14%) and the solid bulk (+32%).

Although the port of Zeebrugge stayed 100% operational during the COVID-19 crisis, roro (-23%) and passengers experienced a decrease during this semester.

The decrease in roro is mainly due to the dramatic drop in the handling of new cars.

The COVID-19 crisis has a significant impact on the passenger movements in the port of Zeebrugge. Last cruise ship was on March 11.  On P&O Ferries’ Zeebrugge – Hull route, the transport of passengers halted almost completely.

Jul 30
0

FERRY FINANCE

By | 2020 Newsletter week 31 | No Comments

Irish Continental Group H1: Strong Freight Performance Despite Pandemic

It is no surprise to see that the transportation of goods has kept ICG busy, while the passenger figures dropped considerably.

Volumes (Half Year 30 June 2020)

  • -65.0% Cars
  • -2.7% RoRo Freight
  • -11.7% Container Freight (teu)
  • -13.5% Terminal Lifts

H1 Finance (unaudited)

  • -21.6% Consolidated Group revenue €130.8 million
  • -33.3% Total revenues €61.6 million

The decrease was principally due to lower passenger volumes resulting from the travel restrictions introduced across the EU due to the Covid19 pandemic.

ICG Release