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Tag: Viking Line | Ferry Shipping News

Sep 08
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Viking Line: Record summer for maritime travel

By | 2023 Newsletter week 36 | No Comments
  • Between June and August, nearly 1.8 million passengers sailed on Viking Line’s vessels.
  • Many departures during the summer holiday season were sold out well in advance (new trend).
  • Several reasons for the strong demand were local tourism, which was popular in both Finland and Sweden, and the recovery in international tourism in the Nordic region.
  • Viking Line’s passenger figures for the summer months increased most on the Tallinn route (+8.7%) (June-August 656,401 passengers).
  • The company had prepared for the summer holiday season by doubling capacity on its Tallinn departures during the peak of summer, and for six weeks three of the company’s vessels sailed across the Gulf of Finland: VIKING XPRS, VIKING CINDERELLA and GABRIELLA.
  • The cheap Swedish krona drew visitors to Stockholm.
  • +8.1% Turku-Stockholm (801,919 passengers June-August) partially driven by new vessel VIKING GLORY.
  • South Koreans a new passenger category: largest increase among international passengers this past summer. South Koreans take group trips and want to visit as many countries as possible on their trip.

All routes combined: 1,786,499 passengers, 227,064 cars

  • Turku–Mariehamn–Stockholm 801,919 passengers
  • Helsinki–Mariehamn–Stockholm 218,752 passengers
  • Helsinki–Tallinn 656,401 passengers
  • Stockholm–Mariehamn (no service June 30–August 6, 2023) 109,427 passengers
Aug 25
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Viking Line: a half-year that exceeds expectation

By | 2023 Newsletter week 34 | No Comments

Q2, 2023

  • Sales amounted to EUR 132.4 million (EUR 141.0 million)
  • Other operating revenue was EUR 0.1 million (EUR 2.4 million)
  • Operating income totalled EUR 18.0 million (EUR 10.1 million)
  • Net financial items were EUR -4.4 million (EUR -2.5 million)
  • Income before taxes totalled EUR 13.6 million (EUR 7.6 million)
  • Income after taxes totalled EUR 10.6 M (EUR 6.3 million).

H1, 2023

  • Sales amounted to EUR 226.3 million (EUR 199.8 million)
  • Other operating revenue was EUR 8.9 million (EUR 8.3 million)
  • Operating income totalled EUR 17.1 million (EUR -8.0 million)
  • Net financial items were EUR -7.9 million (-4.7 million)
  • Income before taxes totalled EUR 9.2 million (EUR -12.7 million)
  • Income after taxes totalled EUR 6.9 million (EUR -9.8 million)

Outlook for the full financial year 2023

The Board of Directors has decided to revise its earnings outlook for 2023. Provided that energy prices remain at current levels, Viking Line’s Board of Directors believes that income before taxes will be significantly better than last year.

On June 21, 2023, the outlook was:

Provided that energy prices remain at current levels, Viking Line’s Board of Directors believes that income before taxes will be better than last year.

Half-year report PDF
Aug 25
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The Swedish Competition Authority approves cooperation between Gotlandsbolaget and Viking Line

By | 2023 Newsletter week 34 | No Comments

Viking Line and Gotlandsbolaget announced on 9 August 2023 that they are forming a joint company with the task of developing and offering cruises with BIRKA STOCKHOLM between Stockholm-Mariehamn and Stockholm-Mariehamn-Visby.

The completion of this business transaction and the start-up of the new joint venture are contingent on the approval of the Swedish Competition Authority. The Swedish Competition Authority has (on August 23, 2023) announced that they are deciding to leave the concentration without action, which means that the deal is proceeding according to plan.

Jun 23
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Viking Line: better outlook for financial year 2023

By | 2023 Newsletter week 25 | No Comments

Viking Line’s Board of Directors has decided to revise the company’s earnings forecast for 2023. Under the condition that energy prices are maintained at the current level, Viking Line’s board of directors assesses that the profit before tax will be better than the previous year.

The previously published earnings forecast was “Under the condition that energy prices are maintained at the current level and taking into account that the realized profits are expected to be lower than in 2022, Viking Line estimates that the result before tax will be slightly lower than the previous year”.

The Half-year Financial Report for January – June 2023 will be published on August 25, 2023.

Apr 28
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Viking Line: “one of the strongest first quarters in the past 10 years”

By | 2023 Newsletter week 17 | No Comments

January-March 2023 (EUR million)

  • Sales EUR 93.9m (58.8m)
  • Other operating revenue EUR 8.8m (6.0m)
  • Operating income EUR -0.9m(EUR -18.1m)
  • Net financial items EUR -3.5m (EUR -2.2m)
  • Income before taxes EUR -4.4m (EUR -20.3m)
  • Income after taxes EUR -3.7m (EUR -16.2m)

“Provided that energy prices remain at current levels and taking into account that capital gains are expected to be lower than in 2022, it is Viking Line’s view that income before taxes will be somewhat lower than last year, which is the same conclusion as in our last report period.”

  • Pax 888,725 (521,537)
  • Market share pax 35.4% (32.0%)
  • Cargo units 33,736 (29,033)
  • Market share cargo 17.5% (14.5%)
  • Market share passenger cars 26.8% (25.1%)
Business Review Viking Line Q1 2023
Feb 24
0

In Brief

By | 2023 Newsletter week 8 | No Comments
  • In addition to boosting capacity on Finnlines’ own Zeebrugge – Rosslare route, FINNPULP is also to be chartered to P&O Ferries for one roundtrip per week. The vessel will depart Zeebrugge on Tuesdays and Teesport on Wednesdays from 28 February.  The ferry companies have an existing cooperation, P&O Ferries providing stevedoring and ship handling for Finnlines’ Rosslare service at the Belgian port.
  • Viking Line has announced that 13 March to 25 June, CINDERELLA will call at Kapellskär on her morning departure from Mariehamn to Stockholm. The sailing is a result of the sale of the ROSELLA and the loss of her sailings from Åland to Kapellskär.

Photo: Viking Line

  • Björn Blomqvist, CEO of Rederi Ab Eckerö Group, has revealed that there has been recent interest in the sale or charter of their idle cruise vessel BIRKA STOCKHOLM. The ship has been laid up since the Covid pandemic arrived in March 2020.  With interest from Europe and Southeast Asia there have also been enquires for using her as an accommodation vessel.
  • From 1 March, Brittany Ferries will switch from Pound Sterling to Euro as the base currency onboard. Sterling will still be accepted onboard at the daily exchange rate but all products and services will have prices displayed as Euro. Full details of the change can be found here.

Photo: Brittany Ferries

  • Molslinjen has been given permission to replace the MAX MOLS with the EXPRESS 1 when the newbuild EXPRESS 5 is delivered as the main Bornholm fast ferry. Due to the subsidised service, the decision required approval of the Danish Ministry of Transport.  The capacity of EXPRESS 1 up to that of the MAX MOLS will be sold within the contract but the additional part is to be sold commercially at Bornholmslinjen’s own risk.  This arrangement will initially be for one year.
  • Molslinjen’s fast ferries on the Kattegat are now registered with the Too Good To Go food waste scheme. This means that ferry passengers on the last departures of the day to Aarhus have the opportunity to buy food to take home from the ferries’ catering outlets. The scheme attempts to reduce food waste.  A bag of food purchased on the app costs DKK 39 and can contain items such as croissants, sandwiches or salads.

Photo: Molslinjen

Feb 17
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A “satisfactory” 2022 for Viking Line

By | 2023 Newsletter week 7 | No Comments

January– December 2022 (compared to January–December 2021)

  • Sales amounted to EUR 494.7 M (EUR 258.2 M).
  • Other operating revenue was EUR 24.1 M (EUR 46.8 M).
  • Operating income totalled EUR 38.3 M (EUR 32.1 M).
  • Net financial items were EUR -10.0 M (EUR -3.8 M).
  • Income before taxes totalled EUR 28.3 M (EUR 28.3 M).
  • Income after taxes totalled EUR 23.0 M (EUR 24.4 M).

Outlook for the financial year 2023

  • Significant uncertainty continues due to the geopolitical situation.  This is impacting directly on energy prices, inflation, interest rates and currencies and indirectly in terms of propensity to travel, demand, consumption patterns and costs.
  • AMORELLA  was sold in Autumn 2022, and at the end of the year an agreement was reached on the sale of ROSELLA for delivery in January 2023. The company does not foresee any further vessel sales in 2023.
  • Provided that energy prices remain at their current level and taking into account that capital gains are expected to be lower than in 2022, the Board of Directors estimates that income before taxes will be somewhat lower than in 2022..

Jan Hanses, CEO of Viking Line said;

“Our results for 2022 should be described as good. The new financial year 2023 will be both demanding and engaging. We are closely following economic developments and adapting operations to meet the challenges we face, particularly concerning the new environmental norms. Meanwhile, we are optimistic about the future.”

Fourth Quarter Results 2022 (compared to Fourth Quarter 2021)

  • Sales amounted to EUR 124.5 M (EUR 89.3 M).
  • Other operating revenue was EUR 15.2 M (EUR 2.2 M).
  • Operating income totalled EUR 19.4 M (EUR 1.6 M).
  • Net financial items were EUR -2.5 M (EUR -0.4 M).
  • Income before taxes amounted to EUR 16.9 M (EUR 1.2 M).
  • Income after taxes totalled EUR 13.6 M (EUR 1.7 M).
Read More
Jan 13
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Viking Line: Revised outlook for the 2022 financial year

By | 2023 Newsletter week 2 | No Comments

During the latter part of Q4, the company’s passenger operations have

performed better than expected, which has improved the company’s results.

In the previous outlook, uncertainty factors such as the geopolitical situation and its impact on energy prices, inflation, interest rates and currencies have been cited as having a negative impact on the result.

These have not had as strong an impact as previously feared.

Viking Line Abp assesses that the operating result for 2022 will be slightly better than 2021

and that the result before taxes is expected to be on par with 2021.

The previous view was that operating income was expected to be somewhat worse than for 2021.