Q1 2023 in numbers
Finnlines’ key financial figures January-March 2023
Highlights Q1
The Finnlines Group recorded revenue totalling EUR 163.1 (157.0) million during the first quarter of 2023, an increase of 4 per cent compared to the same reporting period in the previous year. Shipping and Sea Transport Services generated revenue amounting to EUR 157.9 (150.6) million, of which passenger related revenue totalled EUR 10.2 (7.5) million. Cargo volumes were on a satisfactory level regardless of the fact that Russian operations were already suspended in Q1 2022 and that there were strikes in ports and on railways in Finland in February. However, Finnlines’ passenger business has fully recovered after more than two years of pandemic and subsequent travel restrictions.
Key operational figures
| EUR million | 1-3 2023 | 1-3 2022 | 1-12 2022 |
|---|---|---|---|
| Revenue | 163.1 | 157.0 | 736.1 |
| Result before interest, taxes, depreciation and amortisation (EBITDA) | 45.5 | 35.6 | 221.2 |
| Result before interest and taxes (EBIT) | 23.3 | 15.3 | 136.0 |
| Result for reporting period | 21.5 | 15.1 | 133.3 |
| Equity ratio, % | 63.7 | 61.7 | 60.3 |
| Interest-bearing debt, MEUR | 352.9 | 331.7 | 395.7 |
| Net gearing, % | 40.5 | 38.8 | 44.5 |
More than 170 weekly departures
Finnlines’ services play a vital role in ensuring a smooth supply of goods to Finland and from Finland to Sweden, Continental Europe, Great Britain and Ireland.