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Viking Line interim report for January – September 2016

FinanceViking Line saw a decline in its results due to a modernization programme of vessels and a lower demand.

Consolidated sales of the Viking Line Group for the period January 1 – September 30, 2016 was
MEUR 397.3 (MEUR 403.1 during January 1 – September 30, 2015). Operating income
totalled MEUR 14.8 (22.5).

Consolidated operating income declined mainly due to lost revenue in connection with planned and
completed vessel dry-dockings for modernization and maintenance of vessels as well as lower
demand during the latter part of the reporting. Salary and other employment benefit expenses
increased due to the limiting of restitution in conjunction with a change in the Seamen's Pensions Act
in Finland. However, the cost effect of this is expected to decrease during the financial year.

Consolidated operating expenses increased by 1.4 per cent to MEUR 247.8 (244.3).
During the third quarter, July 1 – September 30, 2016, consolidated sales decreased by 2.9 per cent
to MEUR 159.3 compared to the year-earlier quarter (MEUR 164.1 for July 1 – September 30,
2015). Third quarter operating income amounted to MEUR 25.3 (30.1).

Read the full report here

© Shippax / PR

Nov 16 2016


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