Pandemic Drags Down Viking Line’s Q1 Results

By | 2020 Newsletter week 17 | No Comments

Some key elements of the Q1 report.

  • Passenger traffic is marginal at present, since only the transport of people between the Finnish mainland and Åland is allowed.
  • Quick measures to cut costs have been necessary. Basically the entire staff has been furloughed.
  • Backed by Finland’s National Emergency Supply Agency’s decision to aid cargo traffic to ensure the security of supply, four of the Group’s vessels are serving the Turku – Långnäs (Åland) – Stockholm, Mariehamn – Kapellskär and Helsinki – Tallinn routes. Viking Line’s three other vessels are not in service.
  • While current cargo traffic generates revenue for each vessel to cover variable costs and a small portion of fixed costs, it does not generate positive operating income for the vessels in service.
  • To strengthen liquidity and safeguard the future of the Company, Viking Line has begun negotiations for additional funding. The intention is to use State guarantees proposed in a supplementary budget submitted to the Finnish parliament.
  • Operating income totalled EUR – 21.5m (-14.2).
  • Passenger-related revenue was EUR 63.2m (83.0), while cargo revenue amounted to EUR 11.3m (12.3). Net sales revenue was EUR 54.9m (70.1).

FINANCE

By | 2019 Newsletter week 6 | No Comments

DFDS Reached New All-Time High Result In 2018

DFDS can look back on a very strong 2018 and growth is set to continue in 2019 on the back of the recent expansion of U.N. RoRo in the Mediterranean.

The company will shortly introduce the first of the Chinese freight ferries. The expanded capacity will support their customers’ growth.

DFDS is also feeling confident being ready for their customers with whatever the Brexit outcome will be.

+13% Q4 revenue DKK 4.0bn

+20% Q4 EBITDA DKK 688m

+10% Full-year revenue DKK 15.7bn

+11% Full-year EBITDA DKK 3.0bn

FINANCE

By | 2019 Newsletter week 2 | No Comments

The number of passengers traveling with Viking Line in 2018 was 6,411,537, a bit lower than previous year (6,881,149). In 2017 Viking Line chartered high-speed ferry VIKING FSTR, creating more capacity. In 2018 Viking Line had 38% fewer departures on the route.

The number of freight units was 128,549 (127,668) and the number of passenger cars 704,799 (762,253).

Viking Line Sees Improved Income Despite Lower Sales in Half-Year Results

By | 2018 Newsletter week 33 | No Comments

Some highlights of Viking Line’s half-year results for the period January 1 – June 30, 2018:

  • Consolidated sales EUR 225.7m (235.5m)
  • Operating income EUR -13.5m (-15.0m)
  • Passenger-related revenue EUR 201.7m (211.5m)
  • Cargo-related revenue EUR 22.9m (22.8m).

Thanks to lower operating expenses, consolidated income for the first six months of 2018 improved despite lower sales.

The weak Swedish krona had a negative impact on consolidated income.

Viking Line introduced a new organization model, with as aim to bring faster decision-making and clearer ownership of results. Strengthening the commercial focus at an organizational level is another goal.

Viking Line has transported 3.1m passengers, with a turnover of EUR 239.3m. Competitor Tallink welcomed 4.5m guests, and realized a turnover of EUR 451.4m.