Color Line reaps the benefits

2023-09-17T15:22:05+00:00 September 17th, 2023|Finance|

Norwegian ferry operator Color Line has reported income of NOK2.7 bill (NOK2.2 bill in 1H22) and an operating result of NOK467 mill (NOK238 mill) for the first half of this year.

The rise was driven by high demand in the Norwegian and foreign markets, stable operations and a positive development in ticket revenues, customer values and the freight market.

“In the first half of the year, we had great demand on all our lines within both passenger and freight transport. We feel that foreign travellers have really discovered Norway as a year-round travel destination, which is gratifying for the entire Norwegian tourism industry and which helps to strengthen the balance between southbound and northbound traffic,” explained Trond Kleivdal, Color Line CEO.

The total number of passengers in 1H23 was 1,536,514, compared to 1,405,360 in 1H22. The number of freight units (12 m equivalents) for the period was 97,021, compared to 86,348 units for the same period in 2022.

“Together with our cost-effective operations and attractive route offer, the good results in the first half of the year mean that we expect a slightly better annual result in 2023 than in 2022,” Kleivdal added.