Baltic ferry operator Eckerö Group reported that during the second quarter of this year, all routes experienced a performance record, vessel sales were completed and extensive loan amortisations negotiated.
During the second quarter, 882,209 passengers travelled on the Eckerö Group’s ships, which was 22% more than in the same period last year (722,917).
The number of cargo units was 44,326, which was a 7% increase on the same period last year (41,432).
Sales increased by 23% to €62.8 mill (€50.9 mill in 2Q22), the operating result was €11.9 mill (€1 mill in 2Q22), which is the company’s best second quarter operating result in its history, while the result for the financial period was €6.9 mill (a negative €0.2 mill).
The sales of ‘Birka Stockholm’ and ‘Exporter’ were completed in 2Q23 and the Group has amortised €46 mill of its interest-bearing liabilities since their sale.
Following the amortisations, net liabilities amount to €18 mill and the equity ratio to 47.8% as of 30th June, 2023.
In the first six months of this year, Eckerö Group ships carried 1,416,387 pax, which was 32% more than in the same period last year (1,075,514). The number of cargo units was 86,763, which was an 8% increase on the same period last year (80,561).
Sales increased by 28% to €102.1 mill (€79.9 mill), the operating result was €6.5 mill (a negative €4.5 mill), which is the best first half year operating result ever, while the result for the financial period was €1.3 mill (€ -4.2 mill).
On the Finland/Estonia route, the number of 2Q23 passengers increased by 14% and the number of cargo units increased by 9%, compared to the second quarter of 2022.
On the short Åland/Sweden route, the number of passengers increased by 39%, compared to the same period in 2022. Compared to the pre-pandemic year 2019 the passenger volume for the Group’s vessels on the Finland/Estonia route was 18% higher and on the short route 17% higher.
New double level ramps were put into service at Vuosaari and in Muuga on 14th April and this efficiency improvement has enabled a more frequent timetable and higher volumes for ‘Finbo Cargo’.
The company’s roro ships were chartered out for operations in the Baltic Sea, the North Sea, and the Mediterranean.
For the first half year of this year, on the Finland/Estonia route, the number of passengers increased by 24% and the number of cargo units increased by 8%, compared to 1H22.
