We use cookies to give you the best experience possible. By using this site you accept the use of cookies.   Ok
  • Follow us
  • Facebook
  • Twitter
  • Linkedin
  • YouTube
  • RSS
  • Contact us

Getting access to our website

Read more

Search form

Finnlines shows strong performance in the January-June 2021 period

FinanceEmanuele Grimaldi, president and CEO, in conjunction with the review:
“The Finnlines Group’s revenue for January-June 2021 was EUR 270.8 million, an increase of 14.6% compared to the corresponding period in previous year. The result for the reporting period was EUR 36.3 million – an increase of 14.4% compared to EUR 31.7 million in January-June 2020. Earnings before interest, taxes, depreciation and amortisation, EBITDA, amounted to EUR 71.0 (66.4 in 2020) million. Our financial performance has improved regardless of the fact that passenger services remained subdued due to Finland’s tight COVID-19-related travel restrictions."

"Finnlines’ profitability has improved during the last quarter, mainly due to increased cargo volumes. During the first half of 2021, Finnlines transported 391,000 (357,000 in 2020) cargo units, shipped 90,000 (60,000) cars and carried 228,000 (227,000) private and commercial passengers. Finnlines transports more than a third of the one million rubber-tyred units, which pass annually through Finland’s major shipping routes. Finland-Estonia, Finland-Sweden and Finland-Germany are the main sea bridges to foreign trade in Finland. Finnlines’ extensive route network provides the Finnish export industry with a regular and reliable way into the European market, while ensuring the transport of goods from abroad to Finland that are important for security of supply.

"We have noted that safe travel over the borders has gradually normalised in Europe and that the Finnish restrictions are gradually reaching the EU level. The total recovery of passenger travel is yet to come, but the more Finland aligns its travel restrictions with the rest of Europe, the more rapidly the passenger business by sea between Finland and EU returns to market terms and less state subsidies are needed. We continue to provide our environmentally friendly services on market terms without public support.

"More stringent regulations from EU and IMO force the shipping industry to find ways to cut emissions, and introduce new technology. Finnlines has adopted a green path in its strategy already several years ago when decisions were made on its EUR 0.5 billion Green Newbuilding Programme. The first new ultra green hybrid ro-ro vessel will be delivered this autumn and two others will follow in early 2022. In addition, two eco-efficient Superstar ro-pax vessels will be delivered in 2023 and the construction of the first Superstar ro-pax vessel started in June, while the construction of the second is scheduled to start in October. On the whole, the Programme comprises a total of five new vessels, which are all hybrid and state-of-the-art vessels from the environmental point of view.

"Finnlines, as a Finnish company and with its Finnish-flagged fleet, has established itself as a key provider of maritime transport among customers, not to mention its importance for Finland’s security of supply. Now, with an extensive recruitment campaign ongoing to man the superb green and eco-efficient vessels, Finnlines stands strong and well positioned to pave the way for the new green path of the shipping industry."

Full report https://www.finnlines.com/sites/default/files/2021-q2-finnlines-eng.pdf

© Shippax / PR

Jul 29 2021

Press Releases

Sep 17 2021

Naviera Armas Trasmediterránea introduces cold ir...

Sep 16 2021

Wasaline develops package travels

Sep 15 2021

bp and NYK Line join forces to help decarbonise h...

See all press releases


Shippax Info

Our monthly magazine + Online Access. 1 year subscription.


Shippax Market 21

Market reports & outlook


Shippax Guide 20



Shippax Designs 19



Shippax Database - Single user

Shippax Database online


Get the latest news - for FREE

Receive our weekly newsletter with the latest news and unique special offers.

Don’t miss out!

The place to meet the ferry shipping industry!