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.