Low season quarter results were still strongly impacted by the pandemic and the start of the war in Ukraine in late February. The latter resulted in a sharp increase in fuel, food and commodities prices as well as some decrease in traveller confidence in the second half of the quarter.
The results were also impacted by the planned dockings of several of the company’s vessels, including dockings brought forward from autumn 2022, to ensure there are fewer traffic interruptions in Q4 this year.
Q1, 2022 (EUR)
+97.5% Revenue 106.1 million
Net loss 40.0 million
EBITDA -11.0 million (-6.3 million in Q1 2021)
- war in Ukraine
- high fuel prices
- traveller confidence issues
Sourcing alternative opportunities and work for vessels (such as ROMANTIKA charter to Holland Norway Lines, and ISABELLE securing a contract as a refugee accommodation vessel for at least four months this year)
To end the year 2022 with a net profit.