Moderate impact on Finnlines Group's Q1/2020
Emanuele Grimaldi, President and CEO of the Finnlines Group has released the group’s results for Q1/ 2020. He stated that the group’s revenue of EUR 130.5 million for January–March 2020 remained close to Q1/2019 with EUR 137.6 million.
During the first quarter, Finnlines transported 186,000 cargo units, shipped 41,000 cars (not including passengers’ cars) and carried 121,000 passengers. At EUR 16.2 million, the result for the reporting period was 21.7% down from the EUR 20.7 million generated in Q1/2019.
From March on, the coronavirus situation not only "had a strong impact on passenger transport and travel in Europe", but prevention measures also brought "down the growth globally".
While highlighting "Finnlines' vital role in transporting medicine, food supplies and other consumer goods" to Finland, the group also warned that aid measures might "create unfair competition".
Nevertheless, Finnlines intends to stick to its recent order of two green ro-pax ferries and the construction work of the three ro-ro vessels, an investment of EUR 500 million. (mw)