FERRY FINANCE

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Tallink Grupp Earns Record Amount Of EUR 967 Million Revenue In 2017

According to the unaudited financial results, Tallink Grupp AS earned a record amount of EUR 967 million revenue in 2017. In addition, the group’s highest ever number of passengers in one year – over 9.8 million – significantly increased the revenue of the group’s restaurants and shops to nearly 537 million euros, taking the Grupp’s net profit for 2017 to a total of EUR 49 million.

Compared to the previous financial year, the Grupp’s turnover increased by 3.1% and the net profit by 11.8%.

The launch of the Grupp’s newest vessel, Megastar, on the Tallinn-Helsinki route early in the year increased the capacity of this route and improved the efficiency.

The most positive development in 2017 was the growth of the cargo business. The Cargo volumes increased in all geographical segments in total by 11.0%, the cargo revenues increased by 13.3% or EUR 13.8 million compared to last year and amounted to EUR 117.7 million in 2017.

Q3 Interim report: cargo keeps DFDS on track for record results

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  • Freight is pushing the DFDS figures to record levels, while the passenger volumes stay the same.
  • Strong performance for freight on North Sea routes: volumes up 8%
  • Revenue DKK 3,922 (3,799) +3.3%
  • EBITDA DKK 976 million (972 million) +0.4%
  • EBIT DKK 742 million (738 million) +0.5%
  • Profit before tax DKK 714 Million (732 million) -2.6%)
  • The Group’s revenue growth for 2017 is now expected to be around 3% compared to previously around 4%, excluding revenue from bunker surcharges.
  • At the Q&A session, DFDS CEO Niels Smedegaard said there were no plans for new cruise ferries. Current vessels can continue for 10 years if needed.

Tallink Grupp’s Q3 interim report

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Q3 in figure

  • 2.9 million passengers (+2%)
    Revenue EUR 282.7 million (EUR 273.6 million) +3.3%
    EBITDA EUR 75.4 million (EUR 67.1 million) +12.3%
  • Net profit EUR 47.8 million (EUR 42.8 million) + increased by 11.7%.

In Q3, the Group’s revenue and operating result were impacted by following operational factors

  • After the rerouting of ships in December 2016, carriage capacity increased on a number of operated routes.
  • During June and August, one cruise ferry operated the Tallinn – Helsinki route in contrast to two cruise ferries in last year.
  • Increased competition on Tallinn – Helsinki route.

Interim 8-month report Rederi AB Gotland

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Rederi AB Gotland, a subsidiary of Trojaborg AB, published its interim report for the period 1 January – 31 August 2017 (the full year ends 31 December).

The company has subsidiaries in the hotel business, property management, tanker shipping, ship repair and ferries. The latter operates as Destination Gotland AB between mainland Sweden and the domestic island of Gotland with ro-pax ferries VISBY and GOTLAND, HSC GOTLANDIA and GOTLANDIA II, and ro-ro GUTE.

The current agreement for Gotland traffic with the Swedish Transport Administration extends until January 2027. The company has two LNG ro-paxes on order in China.

Group’s operating profit amounted to SEK 327 million (374).

Profit after financial income and expenses decreased from SEK 382 million to SEK 304 million.

Turnover was SEK 1,653 million (1,528).

Photo : GOTLANDIA © Mike Louagie

Moby’s chief financial officer to resign before the approval of the interim report 

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After 10 years within Onorato Armatori Group, CFO Marco Bariletti decided ‘to follow a new professional path.’ In a release issued by the Luxemburg Stock Exchange, the company says the resignation shall be effective the day before the approval of the interim report on 30 September. Why Bariletti resigns is unknown.

Highlights from the 1H report:

  • Visentini ro-pax DIMONIOS was sold to Trasmediterranea with a €10 million capital gain. 
  • Two veteran ferries have been sold: MOBY BABY (June, €0.5m) and MOBY LOVE (September, €1.0m). Both were sold to Greek Portucalence Shipping Co. 
  • Number of crossings in the Med: 18,200 (+5% 1H 2016) 
  • Number of passengers in the Med: +1% (in total: 6.5 million pax) 
  • Number of transported lane meters: +13% (in total: 7.1m lane meters) 
  • The Group reported €238,8m revenues (+10%).  
  • EBITDA was €25.2m, thanks to the 2Q 2017 results which show a recovery in sales versus 2Q 2016 coupled with the capital gain on the DIMONIOS deal. 
  • Net Secured Debt reported is € 447.1m, with €219.2 m of cash and cash equivalents (versus €114.1m as of March 31st 2017). 

Photo: MOBY LOVE in Genoa ©Mike Louagie