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Fjord 1 Q4 Report: Business As Usual

Fjord 1 saw in Q4 an 11 % revenue growth due to start-up of new contracts in the ferry segment.

The company completed several additional dockings of its ferries, more than in 2017.

Fjord 1 saw a lower contribution from the tourist segment and associates.

  • +11% Revenue 772.1 MNOK (692.9)
  • -7% EBITDA 219.1 MNOK (234.3)
  • -23% EBIT 133.5 MNOK (173.4)
  • -13% Net Profit 117.5 MNOK (135.0)

Several new ferries have been delivered. Fjord 1 is continuing to invest in new eco-friendly ships and new contracts.

Fjord1 Continues To Invest In Modern Tonnage

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In the full year 2017 Fjord1 ASA has transported 21.1 million passengers and 10.4 million vehicles on 63 ferries. The revenue was NOK 2.8 billion.

Highlights of Fjord1’s Q4 ferry division:

  • Revenue NOK 623m
  • EBITDA NOK 234m (154.3m)
  • Result NOK 133.3m (153.6m)

Two fully-battery-operated ferries were introduced, the GLOPPEFJORD and EIDSFJORD, both built by Tersan.
In Q4, three ships were ordered at the Sefine Shipyard.
The company will finalize the contracts for another seven new buildings during the first quarter of 2018.

Growth in cargo traffic on Scandlines Helsingborg-Helsingör continued in Q4

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The increasing cargo traffic entailed higher capacity utilisation on the route’s ferries despite a minor decline in the number of cars. Capacity was increased by expanding the timetable of HAMLET by 5 hours per day since December 1, 2017.
Some figures:

  • Number of departures: 12,300 (status quo)
  • Freight units: 109,500 (+5%)
  • Goods in tonnes: 1,252,000 tons (+4%)
  • Cars: 265,000 (-2%)
  • Passengers 1.44 million (-4%)

”Our freight customers appreciate the precision and reliability we offer, and they have welcomed the increased flexibility brought about by our capacity expansion and more daily departures,” said Johan Röstin, CEO of HH Ferries AB.

Photo: HH Ferries

Strong performance from DFDS

By | 2018 Newsletter week 06 | No Comments

DFDS had fantastic results in the last quarter of 2017, and for the whole year. Especially noteworthy are the North Sea freight volumes, which went up 6%. The overall passenger volumes went up 1%.
For 2018, freight volumes, particularly un-accompanied units, are expected to grow on most routes. Passenger volumes are expected to be on level with 2017.
Some key figures:

  • Q4 Revenue increased 5% adjusted for non-comparable items. Reported revenue was DKK 3.5bn (+4%).
  • Q4 EBITDA before special items increased 12% to DKK 574m following higher earnings in both the Shipping and Logistics divisions.
  • Full-year revenue increased 4% adjusted for non-comparable items. Reported revenue was likewise up 4% to DKK 14.3bn.
  • Full-year EBITDA before special items increased 4% to DKK 2,702m.
  • Full-year profit before special items and tax increased 8% to DKK 1,727m.
  • Outlook 2018: the Group’s revenue is expected to increase around 2% in 2018. The outlook range for EBITDA before special items is DKK 2,650-2,850m (2017: DKK 2,702m). Investments are expected to amount to around DKK 1.1bn.