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By | 2021 Newsletter week 7 | No Comments

Viking Line Reports 2020: “A Difficult, Challenging Year

January–December 2020 (2019) in EUR

188.8 million (496.4) Sales

26.9 million (0.4) Other operating revenue

-49.3 million (17.4) Operating income

-3.6 million (-3.8) Net financial items

-52.9 million (13.6) Income before taxes

-42.3 million (10.8). Income after taxes

-69.4% Passengers 1,927,302 (6,300,480)

-6.2% Cargo units 125,693 (133,940)

Cargo market share of approximately 17.1% (18.4)

Comments from President and CEO Jan Hanses

  • Because of the pandemic, the Group was forced to report a loss in 2020.
  • The challenge in 2020 was to run operations when demand evaporated due to various restrictions.
  • At year-end we recorded a loss of four million passengers.
  • Of our four operating areas – cargo, passenger cars, cruise passengers and passengers in scheduled service – only cargo functioned normally.
  • Focus on cutting costs. Furlough measures.
  • State aid measures from Finland, Sweden and Estonia
  • Liquidity loans totalling EUR 38.7 M, which are backed by State guarantees.
  • Deferral of loan repayments was also obtained from Finnvera and Finlands Exportkredit Ab.

Outlook for the full financial year 2021: It is too soon to quantify the impact of all the pandemic-related issues on earnings since there is great uncertainty about the trend. As a result, no earnings forecast is provided for 2021.