Sales increase at Viking Line, but so do losses

Ferry company’s interim report for first quarter of financial year released

Viking Line has released its profit and sales figures for the first three months of the 2011 financial year. The Viking Line Group’s consolidated sales during January-March 2011 rose by 2.8% to €100.6 million, thanks to higher passenger revenues and the strengthening of the Swedish krona, the company reports. However, fuel expenses rose by as much as 28.5% to €15.4 million due to higher prices, cutting income after taxes to a loss of €12.0 million, compared to a loss of €10.6 million for the same period in 2010.
Viking Line’s passenger volume fell by 3.4% to 1,250,835, partly as a consequence of fewer service days due to more dry dockings and the accompanying effects on other routes. On the Turku-Mariehamn/Långnäs-Stockholm route, however, the company achieved a volume increase of 0.7% to 377,194 passengers.
Viking Line
[pictured: M/S Cinderella; courtesy Viking Line]