January-December 2022 (compared to 2021)

• Sales amounted to EUR 494.7 million (EUR 258.2 million).
• Other operating revenue was EUR 24.1 million (EUR 46.8 million).
• Operating income totalled EUR 38.3 million (EUR 32.1 million).
• Net financial items were EUR -10.0 million (EUR -3.8 million).
• Income before taxes totalled EUR 28.3 million (EUR 28.3 million).
• Income after taxes totalled EUR 23.0 million (EUR 24.4 million).
• The Board of Directors proposes a dividend of 40 cents a share.

Outlook for the financial year 2023

Viking Line sees continued significant uncertainties due to the geopolitical situation and the impact this has on energy prices, inflation, interest rates and currencies as well as the effects these uncertainty factors may have on propensity to travel, demand, consumption patterns and costs. AMORELLA was sold in 2022, and at the end of the year an agreement was reached on the sale of ROSELLA for delivery in January 2023. They do not foresee any further sales in 2023. Provided that energy prices remain at their current level and taking into account that capital gains are expected to be lower than in 2022, the Board of Directors estimates that income before taxes will be somewhat lower than in 2022. 

CEO Jan Hanses comments:

”Like 2021, 2022 was an exceptional year for the entire world, and for Viking Line as well. We will remember 2022 as the year when we welcomed the climate-smart VIKING GLORY to our fleet and at the same time said farewell to our trusted vessel AMORELLA and entered an agreement to sell ROSELLA. VIKING GLORY, which was launched in service in March 2022 on the Turku–Åland–Stockholm route, has set a new standard in passenger service both internationally and in our own service area. The vessel is popular and has performed well, thus contributing substantially to the company’s income. In 2022, our operations turned in a good performance. Demand in the passenger market was good, and passenger volumes exceeded our expectations. Nearly five million passengers travelled with Viking Line, which corresponds to an increase of 114% compared to 2021. The biggest increase was on the Turku–Åland–Stockholm route, which was served by VIKING GRACE and VIKING GLORY. Through increased sales, we managed to almost completely offset the income effect of high bunker (vessel fuel) costs on account of the war in Ukraine. Our results for 2022 should be described as good. The new financial year 2023 will be both demanding and engaging. We are closely following economic developments and adapting operations to meet the challenges we face, particularly concerning the new environmental norms. Meanwhile, we are optimistic about the future,” says Jan Hanses, CEO of Viking Line.  

The total number of passengers on the Group’s vessels during the report period was 4,945,564 (2,315,137). The Group had a total market share in its service area of approximately 37.2% (34.1%).

Market demand for travel at the beginning of the year was greatly limited due to COVID-related restrictions. In February and March, the Finnish and Swedish governments announced that the majority of restrictions would be lifted. That had a positive effect on demand in March and the following period. During the rest of the year, demand was good in their main markets but did not fully reach pre-pandemic levels since the number of international passengers was significantly lower than in previous years.

The Group’s total cargo volume was 117,777 cargo units (129,278). The Group’s share of the cargo market was approximately 14.7% (16.3%). Demand for cargo in their service area varied during the year, and the situation prevailing in Europe makes it especially sensitive.

The market share for passenger cars was approximately 32.8% (33.3%).

Full report https://www.vikingline.com/investors/EA3C8235B0E3F464

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