Finnlines’ passenger sector returns to normal

2023-05-12T17:10:53+00:00 May 12th, 2023|Finance|

Grimaldi-owned passenger and freight ferry operator, Finnlines Group, recorded total revenue of €163.1 mill during the first quarter of 2023, an increase of 4% on the €157 mill recorded in the same period of 2022.

EBITDA was €45.5 mill during the period and the company reported a net result of €21.5 mill.

Shipping and Sea Transport Services generated revenue of €157.9, compared to €150.6 mill in 1Q22, of which passenger related revenue totalled €10.2 mill, compared to €7.5 mill in 1Q22.

Cargo volumes were at a satisfactory level despite Russian operations being suspended in 1Q22 and that there were strikes in Finnish ports and railways in February.

However, Finnlines’ passenger business has fully recovered after more than two years of pandemic and subsequent travel restrictions, the company said.