• Financial Performance: Sales decreased by 6.3% to EUR 87.3 million, driven by an 8.8% drop in passenger-related revenue to EUR 72.7 million, though cargo sales rose to EUR 14.2 million. Operating income worsened to EUR -18.0 million, and income before taxes fell to EUR -22.0 million from EUR -14.2 million, largely due to reduced demand and vessel dockings. Operating expenses increased by 6.0% to EUR 79.6 million, with higher emission allowance costs, fairway fees, and docking-related maintenance.

• Operations and Services: Viking Line operated five wholly-owned vessels (GABRIELLA, VIKING XPRS, VIKING CINDERELLA, VIKING GRACE, and others) and the jointly owned BIRKA GOTLAND. GABRIELLA was docked from 1–18 January for technical maintenance, and VIKING XPRS from 18 January–6 February for refurbishment, with VIKING CINDERELLA temporarily replacing VIKING XPRS on the Helsinki-Tallinn route. BIRKA GOTLAND had a planned break from January 6–15. Passenger numbers fell to 767,353 from 871,828, with market share slightly declining to 31.2%. Cargo volumes grew to 36,352 units, boosting cargo market share to 20.5%.  

• Market and Challenges: Weak economic conditions and geopolitical tensions led to cautious consumer behavior and reduced passenger volumes, particularly between Finland-Sweden and Finland-Estonia. The timing of Easter (April 2025 vs. March 2024) and dockings distorted comparisons. Increased fairway and ETS fees, alongside environmental compliance costs, strained finances, with limited alternative fuel availability. However, a stronger Swedish krona and long-term cargo relationships supported some positive outcomes.

• Investments and Financing: Investments totaled EUR 9.0 million, mainly for GABRIELLA and VIKING XPRS dockings, down from EUR 10.2 million in 2024 (focused on VIKING CINDERELLA and BIRKA GOTLAND). Long-term liabilities decreased to EUR 120.0 million, with VIKING GRACE loans fully repaid. Cash reserves were EUR 26.0 million, with EUR 22.1 million in unutilized credit lines.

• Outlook and Risks: Viking Line expects improved demand in Q2 2025 but faces ongoing uncertainties from economic downturns, geopolitical risks, and rising energy costs. A EUR 1.1 million provision was made for potential repayment of pandemic-era traffic support. Fixed-price fuel agreements for May–December 2025 aim to mitigate bunker price risks.

• Customer and Staff: The company thanked customers, partners, and staff, noting record-high customer satisfaction. The average workforce was 2,258, with 277 employees supporting BIRKA GOTLAND operations.

Full report https://www.vikingline.com/press-room-old/press-releases/8137BA0904F9278B