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05 June 2020 The on-line newspaper devoted to the world of transports 18:00 GMT+2



April 23, 2020

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Original news
Northern European shipping companies DFDS and Viking Line blame the impact of the coronavirus emergency

Danish group has put 12 of 50 ferries out of service of the fleet

Danish shipping group DFDS plans to close the first quarter of this year with revenues of 3.81 billion kronor (511 million euros), a decrease of -1.5% compared to in the first three months of 2019. Expected EBITDA and EBIT are 610 million Danish kroner (-9.9%) and 133 million Danish kroner (-43,1%). Preliminary quarterly report shows a profit 98 million Danish kroner (-38.3%).

The Danish group explained that the decline in results was mainly driven by the impact on the business Covid-19 pandemic. In particular, the reduction in volume business was largely driven by the decline in revenues from the recorded passenger transport business March. In addition, half of the ebitda contraction was produced by lower activity in the passengers caused by the coronavirus emergency and the other half impact of the health crisis on transport goods.

Explaining the measures taken by the group to address effects of the emergency, DFDS pointed out that since the end of March network of maritime services has been limited to 20 routes on which mainly goods are transported and are 12 of the 50 ferries that make up the fleet of the group.

The health crisis has also had a significant impact on Business of Finland's Viking Line, a company navigation also activities in the transport sector of passengers and rolling stock. The company has announced that the volume of passengers started to drop last February and are decreased dramatically in March and that, as a result of the decision of the 16 March last year by the Finnish authorities to close national borders and to place restrictions on the mobility of passengers, the company's revenue generated by the transport passengers have virtually zeroed in, activities that remains almost firm as it is allowed only the transport of people between mainland Finland and Isles.

Viking Line explained that to cope with this situation measures have been taken, including the provision of redundancy pretty much all the staff, cutting the wages of the management and the cancellation of emoluments for the components of the Board of Directors. The company pointed out that four of the group's five Finnish flag ships continue to only to transport goods.

In the first quarter of 2020, Viking Line's revenues 75.0 million euros, a decrease of -21.7% same period last year. Operating profit and net economic result were both negative and positive -21.5 million and -18.7 million compared to negatively for -14.2 million and -12.3 million euro in the first three months of 2019.

csteinweg



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