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06.11.2018Media Releases

Financial Review January–September 2018 (unaudited)

EMANUELE GRIMALDI, PRESIDENT AND CEO, IN CONJUNCTION WITH THE REVIEW:

”The Finnlines Group’s result for the reporting period increased by EUR 7.3 million to EUR 75.3 million. Earning before interest, taxes, depreciation and amortization, EBITDA, came to EUR 129.0 million against EUR 120.4 million last year. Revenue increased EUR 43.4 million to EUR 447.9 million.

Shipping is undoubtedly the most sustainable way of transportation. Approximately 90 per cent of global trade is shipped by sea but shipping sector’s emissions represent only for around 2.2 per cent of the total global CO2 emissions. Regardless of this 2.2 per cent, the International Maritime Organization, IMO, decided to take further actions to cut CO2 emissions by at least 50 per cent by 2050 compared to 2008. Reducing fuel consumption and cutting harmful emissions have long time ago been the fundamental objectives of our Group. Finnlines has made a whole series of concrete investments and actions to promote environmental sustainability and corporate social responsibility. These actions include scrubber installations on 21 ships, slow steaming, fleet changes and route optimisation, fuel monitoring, hull silicon treatments, propulsion improvement and vessel lengthening investments, developing multiple newbuilding projects aimed at reducing fleet emission/ton footprint.

We continue to implement our strategy with determination and with consistency. Already a decade ago, we were forerunners when we invested over EUR 1 billion into very modern fleet and as reported in spring, we have ordered three modern and green ro-ro vessels to add up further 17,500 lane metres to our services. This way we continue our efforts on further improving our operational and environmental efficiency and invest around EUR 200 million in these technologically and environmentally advanced 5,800 lane meters ro-ro vessels. Further resources will be invested in a new series of modern large green ro-pax vessels to be delivered in a 3-4 years time span.

These investments enable us to grow with our customers on longer term and, moreover, to grow with them in a sustainable way, but also keeping our reliability and efficiency on high level. We are pleased with our current progress both operationally and financially and we are on track to deliver an excellent result – once more – in 2018.”

FURTHER INFORMATION

Tom Pippingsköld, Chief Financial Officer, tel. +358 40 519 5041, tom.pippingskold@finnlines.com

Finnlines is a leading shipping operator of ro-ro and passenger services in the Baltic Sea, the North Sea and the Bay of Biscay. The Company is a part of the Grimaldi Group, one of the world’s largest operators of ro-ro vessels and the largest operator of the Motorways of the Sea in Europe for both passengers and freight. This affiliation enables Finnlines to offer liner services to and from any destination in the Mediterranean, West Africa as well as the Atlantic coast of both North and South America.

Finnlines Financial Review January–September 2018