Norwegian Color Group – the parent company of Color Line – delivered 2024 results on a par with its record-breaking 2023, despite ongoing inflation and geopolitical uncertainty.
EBITDA reached NOK1.4 bill, only slightly lower than 2023’s figure.
Operating profit (EBIT) came in at NOK808 mill, compared to NOK819 mill in 2023.
The ferry company carried 3.7 mill pax and 160,000 freight units last year and completed nearly 4,700 sailings across four international routes with five ships.
“We delivered results in line with 2023 – the best year in the company’s history. This proves the strength of our product portfolio and our ability to adapt swiftly to changing market dynamics,” said CEO, Trond Kleivdal.
Last year marked the inclusion of shipping in the EU Emissions Trading System (EU ETS) and Color Line said it was actively preparing for future requirements, including route optimisation and energy efficiency initiatives, increased use of biofuel and silicone-based hull coatings, deployment of digital support systems for optimised sailings, continued exploration of zero-emission fuels and hybrid technology.
For the first time, Color Line reported its results, according to the EU’s Corporate Sustainability Reporting Directive (CSRD) – a key step towards transparency and alignment with 2030 and 2050 climate targets.
Net interest-bearing debt was NOK3.6 bill, down from NOK3.75 bill in the previous year, while available liquidity at year end was NOK1.7 bill.
Looking ahead to this year, despite an intensive docking programme to meet new environmental standards, Color Line said that it expected another solid year of operations.
