Tag

Q3

Nov 12
Love1

FERRY SHIPPING

By 2020 Newsletter week 46

DFDS: Increasing Freight Earnings 

  • Q3 freight earnings are above 2019 levels
  • Efficiency enhanced by adaptation of operations and business structure to market changes
  • Travel restrictions lowered passenger numbers significantly (-70%)
  • EBITDA 2020 outlook raised to DKK 2.5-2.7bn on 23 October

Q3, key figures (in DKK billion)

  • -19.6% Revenue (3,598)
  • -29.2% EBITDA before special items (846)
  • -46.0% EBIT before special items (388)
  • -49.9% Profit before tax and special items (324)
  • -59.4% Profit before tax (262)

EBITDA for freight ferry and logistics activities was DKK 126m above 2019 in Q3. The ongoing adaptation of operations and the business structure to market conditions post Covid-19 has been instrumental in achieving the increase. Besides higher margins, some activities also succeeded in raising volumes.

The continued tightening of travel restrictions during Q3 lowered, on the other hand, the passenger result below expectations. In Q3, EBITDA for passenger services was thus DKK 445m below 2019. This result includes passenger services in three business units that provide such services – Passenger, Channel and Baltic Sea.

Outlook 2020

On 23 October 2020, the outlook for 2020 was raised as freight volumes have developed more positively than expected during and after Q3.

EBITDA before special items is expected to be DKK 2.5-2.7bn in 2020 up from the previous outlook of DKK 2.2-2.5bn included in the Q2 2020 report.

Nov 12
Love0

Covid-19 Hits Tallink Grupp’s Employees and Q3 Results

By 2020 Newsletter week 46

“Having started the year with over 7,200 dedicated employees in the group this year, we are faced with the reality of this number of good employees, dedicated and passionate tourism sector people in our company falling below the 5,000 mark by the end of this year.”

Tallink Grupp’s CEO Paavo Nõgene

Q3 is normally the high season for Tallink Grupp. This year it has been heavily affected by the pandemic and its travel restrictions.

  • -7% Trips
  • -55.8% Passengers
  • -1.9% Cargo units
  • -50.0% Consolidated revenue

EBITDA was EUR 5.7 million (EUR 83.2 million in Q3 2019)

Net loss was EUR 23.9 million (EUR 54.6 million in Q3 2019).

Q3 financial result was impacted by the following factors:

  • Significant decrease in operating expenses
  • Negative impact from one-off costs related to redundancies process in the amount of EUR 3.1 million
  • Positive impact from support measures, including the temporary salary compensation measure in Sweden and exemption from ships’ fairway dues in Estonia.

Outlook: “Due to the ongoing Covid-19 situation the earnings outlook has become uncertain and continues to be largely subject to external factors such as the states’ decisions regarding the timing of lifting of the travel restrictions, allowing passenger traffic as well as the duration of the recovery period.”

Oct 22
Love0

Getlink’s Shuttle Profits Temporarily from Lifting of Quarantine

By 2020 Newsletter week 43

Q3, 2020 results for Channel Tunnel

Traffic statistics

  • -3% Trucks on Truck Shuttles
  • -30% Cars, Motorhomes, Motorcycles… on Passenger Shuttles
  • -74% Coaches on Passenger Shuttles
  • -89% Passengers on Eurostar trains
  • -23% Rail Freight Trains

 

Finance data

  • -17% Revenue (for the Group)
  • -19% Revenue (for Eurotunnel)

Only -2% Revenue (Eurotunnel Shuttle) “as a result of the bounce back observed following the temporary lifting of UK quarantine measures during Le Shuttle’s peak summer season, the resilience of the Truck Shuttle’s traffic and the positive effects of the Group’s yield management strategy.”

Oct 08
Love0

FERRY SHIPPING

By 2020 Newsletter week 41

Tallink: Freight Status Quo, Passengers Dropped Sharply

September

  • -1% Cargo Units 32,672 units (32,843 in September 2019)
  • -66% Passengers 243,215 passengers (718,354)
  • -25% Cars 62,138 vehicles (83,089)

Q3

  • -2% Cargo Units 91,578 (93,329)
  • -56% Passengers 1,314,301 (2,974,790)
  • -22% Cars 275,735 (353,725)

Paavo Nõgene, CEO of Tallink Grupp said that Tallinks business model needs cargo AND passengers. “Putting travel restrictions in place for passengers strongly affects the operators’ income base. This is why it is important that support mechanisms are put in place by the Finnish government, who has introduced the new restrictions, for all passenger ferry operators to ensure that cargo transportation can continue smoothly and without incurring losses.”

Feb 27
Love0

BC Ferries Q3 Results for the Fiscal Year Ending 31 March 2020

By 2020 Newsletter week 9
  • Number of sailings: 44,000
  • Passengers: 4.8 million (+0.7%)
  • Cars: 2.0 million (+1.6%)
  • Total revenue for Q3 increased by $3.2 million to $210.9 million (+1.5%)
  • Total revenue for Q1+Q2+Q3 increased by $33.4 million to $786.7 million  (+4.4%)
  • The increase in revenue is mainly a result of increased vehicle traffic, retail revenue and the provincial contribution for its portion of the fare initiatives.
  • Operating expenses for Q3 increased by $7.4 million to $205.7 million (+3.7%)
  • Operating expenses for Q1+Q2+Q3 increased by $27.4 million to $646.8 million (+4.4%).

The increase in operating expenses is mainly due to higher labour costs and staffing level changes.

Nov 21
Love0

Fjord1 Is Ready For A New Year With New Contracts

By 2019 Newsletter week 47

Q3 key figures

-14% Turnover NOK 705 million

+28% EBITDA NOK 278 million

+68% Net profit after tax NOK 115 million

  • The profit contribution has been positive from all segments (ferry, passenger boat, catering and tourist). 
  • Sales will grow next year when new contracts start on 1 January 2020.
  • 2019 is a transitional year with changes in the contract portfolio and major investments in zero- and low-emission vessels and the development of charging infrastructure. 
  • Fjord1 currently has 17 hybrid electric vessels in the ferry fleet and by the second half of 2020 the company will have an additional 13 hybrid electric vessels in operation. On January 1st, Fjord1 will start operating nine new connections in Hordaland, all with new environmentally friendly technology. A large part of the ferry fleet in Fjord1 will be zero emissions and contribute to a positive effect on the environmental footprint through significantly reduced CO2 emissions.
  • During the second half of 2020, the company will operate 30 electric ferries and 19 connections will be electrified. The Anda-Lote connection has been running electric for 1.5 years, and experience after passing 50,000 charges shows that the technology works as expected.
Nov 14
Love0

FERRY FINANCE

By 2019 Newsletter week 46

Q3 in brief:

  • Q3 EBITDA on level with 2018 despite UK slowdown. This slowdown in trade between UK and continental Europe continued through Q3 and lowered freight volumes on the North Sea ferry routes and passenger volumes on the Channel.
  • Logistics Division increased EBITDA 15% in Q3 as contract logistics in UK & Ireland and other activities across the division performed well despite of the UK slowdown.
  • The Channel freight market share was increased in Q3.
  • Mediterranean’s revenue growth continued but earnings were held back by a rise in costs due to operational challenges. A simplified route and port terminal structure was introduced in Mediterranean at the start of Q4.

+2.0% Revenue DKK 4.5bn

-0.2%  EBITDA DKK 1.2bn

+4.0% Profit before tax DKK 647m

Outlook 2019

Due to the ongoing European slowdown, expected revenue growth is now around 6% (previously: 6-8%). To reflect a reduced risk of a no-deal Brexit occurring in 2019, the outlook range for EBITDA before special items is narrowed to DKK 3.55-3.75bn (previously: DKK 3.5-3.8bn).

Nov 14
Love0

Tallink Grupp Reports Record-Breaking Q3

By 2019 Newsletter week 46

The record-breaking quarter is the result of the group carrying and serving record numbers of passengers in July and August and strong onboard and onshore sales.

  • Net profit was €54.6 million (46.1 million in Q3 2018), which is the highest ever net profit for the group for Q3.
  • EBITDA increased by €12.1 million to €83.2 million.
  • Revenue increased by 1.5% to a total of €287.8 million.

First 9 months 

  • €44.2 million net profit, which is a 2.4 million (5.8%) increase.
  • Revenue decreased by 0.1% and was €722.7 million.
  • EBITDA increased by almost €19 million (€137.7 million).

The financial result of the first nine months of 2019 was positively impacted by the very strong third quarter, but negatively impacted by the docking of seven of the company’s vessels in the first half of the year.

Oct 10
Love0

FERRY FINANCE

By 2019 Newsletter week 41

AS Tallink Grupp Statistics For September 2019 And Q3

Traffic trends for September

  • -1.7% passengers
  • -0.1% cars
  • -2.7% freight units

Traffic trends for Q3 (July-September)

  • +0.9% passengers = 2 974 790
  • +0.4% cars = 353 725
  • -1.7% freight units = 93 329
Nov 15
Love0

FINANCE

By 2018 Newsletter Week 46

Viking Line Group Reports First Nine Months

Period January 1–September 30, 2018

-3.6% Consolidated sales EUR 378.1 million

+22.2% Operating income EUR 7.7 million

+21.8 Consolidated income before taxes EUR 5.6 million

+26.3 Income after taxes EUR 4.8 million

-4.1% Passenger-related revenue EUR 343.0 million

+2.5% Cargo revenue EUR 33.4 million.

  • Due to lower operating expenses, consolidated income for 2018 improved despite lower sales.
  • The weak Swedish krona had a negative impact on consolidated income.

-7.5% passengers 4,967,745 (in 2017 Viking Line operated fast ferry Viking FSTR, not in 2018)

+0.5% cargo 95,081

Q3

-2.7% Consolidated sales EUR 152.3 million

+0.0% Operating income amounted to EUR 21.3 million