Key points

• Operating revenues close to NOK 3.0 billion, up from NOK 2.9 billion in H1 2025
• EBITDA down to NOK 153 million from NOK 255 million
• 1.52 million passengers carried, against 1.56 million a year earlier
• 78,000 freight units (12-metre equivalents), up from 76,000
• EU ETS costs of some NOK 140 million, up from NOK 83 million — scheme now covers 100 per cent of relevant emissions, against 70 per cent in 2025

Operating revenues came in at close to NOK 3.0 billion for the period, against NOK 2.9 billion in the same half of 2025. EBITDA fell to NOK 153 million from NOK 255 million a year earlier. The group carried 1.52 million passengers and 78,000 freight units (12-metre equivalents), compared with 1.56 million passengers and 76,000 units in 2025.

"Revenues are increasing even in a somewhat more moderate travel market, while the freight business is showing positive development in both volumes and revenues. However, earnings are impacted by significantly higher climate and energy costs," says Trond Kleivdal, CEO of Color Line.

Costs under the EU Emissions Trading System (EU ETS) amounted to some NOK 140 million in the first half of 2026, up from NOK 83 million in the corresponding period of 2025. From 2026 the scheme covers 100 per cent of relevant emissions, against 70 per cent in 2025.

"The sharp increase in climate-related costs illustrates the challenge facing European shipping. We are continuing our long-term commitment to digital transformation, the green transition and operational streamlining, but weakened national and European framework conditions are challenging the industry's agility and resilience," Kleivdal adds.

The group is implementing cost-saving measures on a continuous basis. After a strong July, Color Group expects the second half to be broadly in line with last year, while the full-year result for 2026 is anticipated to be somewhat weaker than in 2025. The company also says it is following the situation in Iran and the Middle East closely, and remains confident in both its bunker price protection measures and the supply of bunker products for the fleet.

Full report here https://www.colorline.no/om-oss/finans

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