Finnlines Plc has announced its financial results for the first quarter of 2025, reporting revenue of €166.0 million, up from €162.2 million in the same period of 2024. Earnings before taxes (EBT) amounted to €7.9 million, a significant increase from €0.4 million in Q1 2024.
President and CEO Thomas Doepel stated, "The first quarter of the year was quite satisfactory. In 2024, Finnlines had to adapt its fleet to meet changed market conditions. By rationalising the fleet composition and by re-organising some of its freight services, Finnlines was able to improve its profitability. This combined with reduced debt and falling interest rates were the main drivers behind the significant result improvements."
During the reporting period, Finnlines transported 194,000 cargo units, 18,000 cars, and 297,000 tons of non-unitised freight. A total of 165,000 passengers traveled with the company.
The inclusion of shipping in the EU Emissions Trading System in 2024 and the implementation of FuelEU Maritime from January 2025 have introduced additional energy costs. These regulations require shipping companies to purchase emission allowances for CO₂ emissions and to gradually replace fossil fuels with more expensive alternative fuels.
After the reporting period, the Grimaldi Group, owner of Finnlines, announced the order of nine new ro-pax vessels, including three "Hansa Superstar class" ships to be deployed in the Baltic on the Helsinki–Travemünde route. All vessels will be equipped with engines capable of running on methanol, contributing to the company's net-zero emission targets.
Looking ahead, Doepel noted, "The geopolitical atmosphere continues to be tense but there is some light in the tunnel. With hope for stability in Ukraine, we anticipate positive growth opportunities in Northern Europe. Germany’s decision to relax its debt brake and invest EUR 500 billion in infrastructure will stimulate its economy. As the leading ro-ro and ro-pax company in the Baltic Sea area, offering up to 26 weekly departures between Finland and Germany and close to 40 weekly departures between Sweden and Germany, Finnlines is in pole position to capitalize on a German economy recovery."
Founded in 1947, Finnlines is a Finnish shipping company specializing in freight and passenger services in the Baltic Sea, North Sea, and Bay of Biscay. The company operates roll-on/roll-off (ro-ro) and passenger-freight (ro-pax) vessels, providing connections between Finland, Sweden, Germany, and other European countries. Finnlines is a subsidiary of the Grimaldi Group.
An Italian shipping company headquartered in Naples, the Grimaldi Group is one of the world's largest operators of ro-ro vessels. It offers a range of maritime transport services, including freight and passenger services across the Mediterranean, West Africa, North and South America, as well as Asia and Australia. The group owns several subsidiaries, including Finnlines.