Viking Line: Q3 Reflects a Challenging Market, as Expected

By 1 November 20242024 Newsletter week 44
November 1, 2024

First 9 Months

  • Sales amounted to EUR 370.6 M (EUR 379.2 M).
  • Other operating revenue was EUR 0.8 M (EUR 8.9 M, including the EUR 8.6 M gain on the sale of Rosella).
  • Operating income totalled EUR 25.2 M (EUR 52.4 M, including the EUR 8.6 M gain on the sale of Rosella).
  • Net financial items were EUR -9.1 M (EUR -8.7 M).
  • Income before taxes totalled EUR 16.1 M (EUR 43.7 M, including the EUR 8.6 M gain on the sale of Rosella).
  • Income after taxes was EUR 12.4 M (EUR 34.8 M, including the EUR 8.6 M gain on the sale of Rosella).
  • Investments mainly in Viking Cinderella and Birka Gotland totalled EUR 18.3 M (EUR 30.3 M).

Unchanged outlook

There is significant uncertainty given the recession under way in Finland, which has a negative impact on customers’ consumption patterns. Other factors contributing to this uncertainty are the current geopolitical situation and its potential impact mostly on energy prices. All in all, as a result the management expects that income before taxes for 2024 will weaken to a level that is worse than in 2023 excluding the EUR 8.6 M gain on the sale of Rosella, which is the same conclusion as for the last report period.

Q3

  • Sales amounted to EUR 151.5 M (EUR 152.9 M).
  • Other operating revenue was EUR 0.2 M (EUR 0.0 M).
  • Operating income totalled EUR 29.4 M (EUR 35.3 M).
  • Net financial items were EUR -1.0 M (EUR -1.1 M).
  • Income before taxes totalled EUR 28.4 M (EUR 34.2 M).
  • Income after taxes was EUR 24.9 M (EUR 27.6 M).

Source: Viking Line