Baltic ferry operator, Viking Line has reported sales of EUR €128.4 mill (€125.9 mill in 2Q24) for the second quarter of this year.
Other operating revenue was €0.2 mill, the same as 2Q24.
Operating income totalled €6.9 mill €6.2 mill), while income after taxes was €4.8 mill (€1.8 mill in 2Q24).
For the first six months of the year, sales totalled €215.8 mill (€219.1 mill for 1H24).
Income after taxes was minus €17.3 mill (minus €12.5 mill in 1H24).
Investments in 1H25, mainly in ‘Gabriella’ and ‘Viking XPRS’, totalled €12.4 mill.
The Board decided to distribute a second instalment dividend of €0.50 per share, totalling €8.6 mill, with the record date of 18th August, 2025 and due to be paid on 25th August.
Significant uncertainty remained as a result of the economic downturn in its traffic area in recent years, which has negatively affected customer spending patterns, the company said.
The current geopolitical situation and its potential impact, particularly on energy prices, also contributed to the uncertainty, which made it difficult to predict passenger-related market developments.
The Board estimated that pre-tax profits for 2025 will be on par with 2024, which was the same as indicated in the previous reporting period.
“The profit trend in the second quarter of the year was stronger than during the same period last year,” CEO and President, Jan Hanses (pictured) said.
“The profit improvement was seen in all months of the quarter. Thus, our expectation of profit improvement during April/June was fulfilled, albeit still at modest levels. The development in demand has been slightly positive, but the positive trend was delayed, as we warned in our previous business review. The weak economic development in our traffic area continues to cause caution among consumers.
“The half-year result continues to be burdened by the dockings of ‘Gabriella’ and ‘Viking XPRS’, but we expect a continued strengthening of profit development so that a full-year result in line with last year can be achieved. Demand during the high season months of July and August is forecast to be good, while the outlook for the autumn remains uncertain.
“Our Joint Venture company, Gotland Alandia Cruises, is affected by the same market conditions as our other operations and the results still do not fully meet our expectations, but the same trend as for the rest of the traffic can be expected here as well.
“From January, results have also been impacted by increased fairway dues in Finland, as a result of the halving of fees introduced with the implementation of the so-called Sulphur Directive now being reversed. Further, since the beginning of the year, increased fees have also been collected from the EU Emissions Trading System, which now accounts for 70% of a fully implemented emissions trading system.
“Our operations are currently heavily influenced by upcoming environmental regulations, and we are bearing a cost burden that in the medium term can only be partially mitigated by ongoing work on energy efficiency. The availability of alternative fuels for shipping remains poor.
“In summary, I can state that the first half of 2025 has been characterised by a relatively heavy docking programme and a challenging market situation, where we hope for a change during the third quarter,” he said.
