Finnlines sailing in the black
The Finnlines Group reported its financial results for the year 2020, which were commented by Emanuele Grimaldi, president and CEO. The pandemic left its mark. The group’s turnover was down by 16% to EUR 484.0 (EUR 574.8 million) compared to 2019, while ebitda was EUR 140.8 million (EUR 169.8 million), a decrease of 17%. Freight turnover witnessed a loss of EUR 70 million.
Given the circumstances, the group performed well, as Grimaldi pointed out: "We maintained a feasible profitability throughout the latter part of the year and the result for the reporting period was EUR 69.7 million (EUR 98.3 million), which we are very proud of."
Throughout the crisis, Finnlines banked on the reduction of bunker surcharges asked from clients as from March 2020, "far beyond what was awarded from Finnlines’ competitors to clients in the same period."
In the future, all three ordered ultra-green hybrid ro-ro vessels will undergo various construction stages. Deliveries of all three recently named vessels in the series, “Finneco I”, “Finneco II” and “Finneco III”, are expected between November 2021 and April 2022. In addition, two Superstar ro-pax vessels are scheduled to start operating in 2023. (cd)