February 13, 2026
Full Year 2025 (vs 2024)
- Revenue: EUR 480.9 M (+0.2%)
- Operating income (EBIT): EUR 21.1 M (down from EUR 26.7 M)
- Profit before tax: EUR 18.9 M (EUR 19.8 M)
- Net profit: EUR 16.0 M (EUR 15.9 M)
Traffic & Market
- Passengers: 4,608,573 (–0.8%)
- Total market share: 32.1% (32.8%)
- Finland–Sweden share: 59.8% (unchanged)
- Finland–Estonia share: 24.3% (24.5%)
Freight: Record Year
- Cargo units: 139,484 (+3.9%) – new historical high
- Freight market share: 19.4% (17.8%)
- Fossil-free freight option introduced on all routes
Freight continues to outperform despite weak Finnish macro conditions.
Q4 2025: Improved Profitability
- Revenue: EUR 112.6 M (+2.8%)
- EBIT: EUR 3.6 M (EUR 1.5 M)
- Net profit: EUR 4.1 M (EUR 3.5 M)
Passenger revenue rose 3.2%. Operating costs fell 0.6%.
Cost & Regulatory Pressure
- Operating costs FY: EUR 328.6 M (+1.7%)
- Emission allowance costs: EUR 4.5 M (EUR 3.1 M)
- Wage costs +2.8%, partly due to Birka Gotland staffing
- ETS phase-in increased to 70% in 2025
- FuelEU Maritime entered into force 1 January 2025
Island exemption applies to parts of Turku–Stockholm and Helsinki–Stockholm routes.
Investments
- Capex: EUR 19.6 M (4.1% of revenue)
- Dockings (GABRIELLA, VIKING XPRS)
- Emission allowances
Helios project (large electrified vessel concept for Helsinki–Tallinn) progressing.
2026 Outlook
- Profit before tax expected on par with or slightly better than 2025
- Continued uncertainty:
- Weak consumer demand
- Geopolitics
- Energy prices
- Emission costs
- Source: Viking Line
