Finnlines Increases Revenue by Three Percent in 2024

The revenue of the Finnlines Group amounted to 699.3 million euros (680.7 in 2023) from January to December 2024, representing an increase of 3 percent compared to the same period in 2023. The earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to 162.0 (166.3) million euros.

(Helsinki/Lübeck) The freight volume transported from January to December 2024 was approximately 782 (710 in 2023) thousand freight units, 85 (156) thousand cars (excluding passenger cars), and 1,234 (1,344) thousand tons of cargo that cannot be measured in units. Additionally, around 936 (695) thousand private and commercial passengers were transported.

In recent years, Finnlines has developed new routes primarily outside Finland to reduce its dependence on the Finnish market. In 2022, Finnlines launched a freight service between Rosslare, Ireland, and Zeebrugge, Belgium. The demand for direct line freight services from Ireland to continental Europe increased following the United Kingdom’s exit from the EU. In April 2024, a goods and passenger transport route was opened between Malmö, Sweden, and Świnoujście, Poland. The port of Świnoujście has good road connections to southern Poland, the Czech Republic, Slovakia, and other Central European countries. Malmö, in turn, is the gateway to Scandinavia and, via the Øresund Bridge, to Denmark and other destinations on the European continent. In the autumn, Finnlines relocated its freight traffic to and from the UK to the port of London Medway to Sheerness in the southeast of the UK. Today, Finnlines connects over 20 ports across Europe, and many of the company’s ships are increasingly seen in ports outside the Baltic Sea.

Euro Green Program Completed

Finnlines has renewed its fleet in recent years with three large hybrid Ro-Ro vessels of the Finneco type and two large hybrid Ro-Pax vessels of the Superstar type, and has now completed its 500 million euro Green Investment Program. By leveraging the economies of scale of the fleet and utilizing recent ship sales, Finnlines can improve its cost efficiency and create new growth opportunities through its routes opened outside Finland.

500 Million for Three New Ro-Pax Ships

Finnlines is currently considering an additional investment of 500 million euros in three new Ro-Pax ships powered by methanol engines that can also run on other fuels. These methanol or so-called multi-fuel ships are expected to be operational by early 2028, and through this significant environmental investment in eco-friendly ships, Finnlines will continue to support its customers in the most sustainable way possible.

Photo: © Finnlines