Stena reports drop in ferry EBITDA

2023-09-17T15:20:34+00:00 September 17th, 2023|Finance|

Swedish shipping conglomerate, Stena AB reported an increase in total revenues of SEK2,816 mill to SEK26,415 mill for the first six months of this year.

The revenues were higher in all business segments offset by lower revenues within the New Businesses division, compared to the same period last year.

Total direct operating expenses increased by SEK1,002 mill to SEK17,029 mill in 1H23. Operating expenses were higher within the Ferry and the Offshore Drilling segments offset by lower expenses within the Shipping, Property and New Businesses segments, compared to the same period last year.

EBITDA for the consolidated Stena AB Group increased by SEK1,378 mill to SEK6,356 mill in the six-month period.

Operational EBITDA decreased by SEK376 mill to SEK1,686 mill in 1H23, mainly due to higher costs than the same period last year.

Freight volumes decreased 3%, car volumes increased 2% and passenger volumes increased 5%, compared to last year.

In the Ferry division, operational EBITDA fell by SEK376 mill to SEK1,686 mill, mainly due to higher costs.