Finnish economy downturn could hit Finnlines

Finnlines has reported successful first quarter results. Emanuele Grimaldi, President and CEO (pictured), explained; “The Finnlines Group recorded revenue totalling €157 mill (€124.1 mill in 1Q21) in the first quarter of 2022, an increase of 27%, compared to the same reporting period in the previous [Read more...]

2022-05-14T11:06:14+00:00 May 14th, 2022|Finance|

DFDS’ results in line with outlook

DFDS reported strong revenue growth of 52%, driven by acquisitions, higher freight and passenger volumes. EBITDA increased 9% to DKK822 mill. CEO, Torben Carlsen (pictured), said: “We’re satisfied with DFDS’s Q1 performance, which saw us grow our EBITDA by 9%. “Our freight and passenger businesses [Read more...]

2022-05-14T11:04:25+00:00 May 14th, 2022|Finance|

ICG enjoys increased revenue

On 11th May, the Irish Continental Group (ICG) issued a trading update, which covered carryings for the year-to-date to 7th May, 2022 and financial information for the first four months of 2022. All the figures were unaudited. Consolidated Group revenue for the period was €161.2 [Read more...]

2022-05-14T11:02:59+00:00 May 14th, 2022|Finance|

TUI cruise brands on slow recovery road

German-based leisure company TUI, reported that in 2Q22 of its financial year, EBIT loss almost halved to minus €329.9 mill loss, versus 2Q21’s minus €633 mill. This improvement was driven by a strong operational recovery in the second half of the quarter on easing of [Read more...]

2022-05-14T10:54:14+00:00 May 14th, 2022|Finance|

NCLH’s losses narrow

Norwegian Cruise Line Holdings (NCLH) reported a GAAP net loss of $1 bill or EPS loss of $2.35 for the first quarter of this year. This was down on the net loss of $1.4 bill or EPS loss of $4.16 in 1Q21. NCLH also reported [Read more...]

2022-05-14T10:52:28+00:00 May 14th, 2022|Finance|

Stena turns the corner

Ferry operator Stena Line´s operational result increased to SEK12,354 mill last year, compared to SEK10,362 mill in 2020, mainly due to strong freight volumes and cost reductions.   In addition, passenger and car volumes improved, as countries eased COVID-19 travel restrictions.   Operational EBITDA increased [Read more...]

2022-05-14T10:37:18+00:00 May 14th, 2022|Finance|

Scandlines reports traffic growth

Scandlines navigated market volatility and the impact of COVID-19 in 2021 and maintained margins thanks to a dedicated team effort and strict cost control, the company said. Last year, the company invested in a new emission-free freight ferry. At the same time, it announced that [Read more...]

2022-05-14T10:18:44+00:00 May 14th, 2022|Finance|

Tallink suffers from external factors

Tallink Grupp’s low season first quarter results were strongly impacted by the Omicron pandemic and the start of the war in Ukraine in late February, the company said in its results roundup. The latter resulted in a sharp increase in fuel, food and commodities prices, [Read more...]

2022-05-14T10:17:12+00:00 May 14th, 2022|Finance|