Stena turns the corner

2022-05-14T10:37:18+00:00 May 14th, 2022|Finance|

Ferry operator Stena Line´s operational result increased to SEK12,354 mill last year, compared to SEK10,362 mill in 2020, mainly due to strong freight volumes and cost reductions.


In addition, passenger and car volumes improved, as countries eased COVID-19 travel restrictions.


Operational EBITDA increased to SEK3,489 mill from SEK1,586 mill in 2020.


The 2021 figure also included extraordinary revenue of €13.4 mill in remuneration from UK Department for Transport in order to guarantee shipments into UK during the six months following Brexit.


The operational result was SEK1,363 mill, compared to a loss of SEK1,200 mill  for the previous year.


As for the overall group, Stena said that the global COVID-19 pandemic affected the whole business last year.


The group took precautions in order to protect the employees and at the same time minimise the financial effects of the pandemic. These effects were driven by the public and local

situation and by decisions taken by local authorities.


In spite of the pandemic, the operations improved in comparison with 2020 and the group returned to a positive net income. The group is, as a consequence of the signs of recovery during the latter part of the year, together with the actions taken during the period, well positioned to face the future, it claimed.


For 2021, the Stena Group returned to profit following, for the first time in the Group’s 80-year history, the reporting of a negative result in 2020.


Stena Group also reported a healthy balance sheet with an equity ratio of 36% as at 31st December, 2021, compared to 35% as at the same time in the previous year.


A strong liquidity position was maintained last year amounting to SEK20.3 bill, compared to SEK 19.9 bill in 2020. The total group income amounted to SEK39 bill, compared to SEK33.3

bill in 2020.


EBITDA, excluding valuation of investment properties and sales of non-current assets, amounted to SEK7.1 bill, compared to SEK4.9 bill in 2020. The rise was mainly as a result of increased EBITDA for the segments Ferry Operation, Drilling Offshore and New Businesses.


Profit before tax amounted to SEK499 mill, compared to a loss of SEK4.9 bill in 2020, including sales of non-current assets amounting to SEK537 mill and SEK137 mill in 2020, respectively.