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27 November 2021 The on-line newspaper devoted to the world of transports 21:05 GMT+1

November 9, 2021

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Finnlines records a gradual recovery in activities Operational

The load volumes guaranteed by the industry are still limited Automotive

In the third quarter of this year the revenues of the company of Finnish navigation Finnlines of the Italian group Grimaldi are amounted to 155.1 million euro, up +22.4% on corresponding period of 2020 when the activity of the the company's fleet of ro-pax ships was most affected by the effects of the Covid-19 health crisis. EBITDA and EBIT are states of 50.2 million euros respectively (+23.0%) and 34.0 million euro (+39.0%) and net profit amounted to 32.7 million euros (+45.4%).

In the period July-September of 2021 Finnlines ships have transported about 192 thousand load units (+7%), 359 thousand tons of other goods (+24%), 211 thousand passengers (+29%) and 34 thousand cars not following passengers (-19%).

Commenting on the results achieved by the company in the third quarter of this year, the president and CEO of Finnlines, Emanuele Grimaldi, explained that "during the third quarter is the growth trend continued, with cargo volumes that are increased on almost all routes. The automotive industry - has specified - suffered from the shortage of components and parking summer was longer than expected. However, given that finnlines' fleet consists of ships of several size, it was possible to transfer the capacity from routes showing a temporary drop in demand to other which proved to need greater capacity. Once the travel restrictions were gradually loosened - Grimaldi also specified - tourist trips are resumed, although the number of passengers remained far below the normal level."

In the first nine months of 2021, Finnlines' revenues were equal to 425.9 million euros, with an increase of +17.3% on the same last year period. Operating profit was 72.5 million (+23.5%) and net profit of 69.0 million euros (+27.3%).

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