Tom Pippingsköld, President and CEO, in conjunction with the review

”The Finnlines Group’s revenue in January–December 2024 amounted to EUR 699.3 (680.7 in 2023) million, an increase of 3 per cent compared to the corresponding period in 2023. Earnings before interest, taxes, depreciation and amortisation, EBITDA, amounted to EUR 162.0 (166.3) million.

The cargo volumes transported during January–December 2024 totalled around 782 (710 in 2023) thousand cargo units, 85 (156) thousand cars (not including passengers’ cars) and 1,234 (1,344) thousand tons of freight not possible to measure in units. In addition, some 936 (695) thousand private and commercial passengers were transported.

During the past few years Finnlines has mostly developed its new routes outside Finland to reduce its dependency solely on the Finnish market. In 2022, Finnlines launched a freight service between Rosslare, Ireland, and Zeebrügge, Belgium. Demand for direct, scheduled freight services from Ireland to Continental Europe grew in the wake of UK leaving the EU. In April 2024, a freight and passenger line was opened between Malmö, Sweden, and Swinoujscie, Poland. The Port of Swinoujscie has good road connections to Southern Poland, Czech Republic, Slovakia and to other Central Eastern European countries. Malmö, in turn, is the gateway to Scandinavia and via the Öresund Bridge to Denmark and other destinations in the European continent. In autumn Finnlines moved its freight services to and from Britain to the Port of London Medway, into Sheerness, in the south-eastern part of UK. Today, Finnlines connects over 20 ports across Europe and many of the company’s ships are increasingly familiar sights in ports outside the Baltic Sea.

Finnlines has renewed its fleet during the past few years with three large-sized hybrid Finneco ro-ro vessels and two large-sized hybrid Superstar ro-pax vessels, and has now completed its EUR 500-million Green Investment Programme. Leveraging the fleet’s economies of scale and taking advantage of recent vessel sales, Finnlines can enhance its cost-efficiency, and through its routes opened outside Finland can create new growth opportunities.

Finnlines is currently considering a further investment of EUR 500 million in three new ro-pax vessels, which will be powered by methanol engines, which can also run on other fuels. These methanol or so-called multi-fuel vessels are projected to enter into service at the beginning of 2028 and through this huge environmental investment in green vessels, Finnlines will continue to support its customers in a most sustainable way.”

Full report here https://www.finnlines.com/news-and-press-releases/finnlines-financial-statements-2024-and-financial-review-january-december-2024/

© Shippax