August 1, 2019

Financial Performance Finnlines Improved Despite Slowdown Finnish Economy in H1

Key figures for January – June 2019

+2% Revenue EUR 295.5 million
+10% Result EUR 46.7 million
+7% EBITDA EUR 83.5 million

The second quarter was again the best ever.

In his comments, CEO Emanuele Grimaldi puts a lot of emphasis on what has been done, and will be done to make ferry shipping the most sustainable way of transport. More ships will be ordered.

“We have invested in emission abatement technology covering almost all our vessels and also lengthened six of our vessels in order to benefit from economies of scale. These investments have contributed to our sustainable development and e.g. the fuel consumption per transported tonne has decreased considerably. Other efforts to reduce energy consumption and emissions include changing of propeller blades, timetable planning, route optimisations as well as optimising speed, load and trim.”

“We have reduced CO2 emission between 2008 and 2018 by approximately 30%. However, while our past record in emission reduction is superb, we are looking beyond the IMO requirements. With regulators stimulating the debate on low-carbon fuels, we pledge not to lose our focus on sustainability: we will continue to improve and are on the right path. This focus on sustainability requires further investments. We have recently ordered three new green ro-ros, which will be built to produce zero emission in ports and aimed at pushing beyond the green scores of ro-ro in the Baltic region. We are also about to further order two Superstar class ro-pax vessels, in order to strengthen our well developing passenger business growth. These vessels will be the most environmentally friendly units in their category, carrying 5,800 lane metres of cargo and close to 1,000 passengers.”