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01 December 2020 The on-line newspaper devoted to the world of transports 03:24 GMT+1

May 7, 2020

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Grimaldi: if the state intervenes to support the companies must intervene in such a way that it does not produce a unfair competition

Finnlines ended the first quarter with net profit EUR 20.7 million (up 27.6%)

In the first quarter of this year, the company's revenues Finnish navigation Finnlines of the Neapolitan shipping group Grimaldi amounted to 130.5 million euros, a decrease in the -5.1% in the first three months of 2019. More relevant decrease in costs, which amounted to 108.7 million euros (-9.3%), mainly due to the reduction in the cost of the purchase of materials and services fell by -21.3% to 38.2 million Euro. EBITDA was 38.2 million euros, or 11.7%, And operating profit at 22.1 million euros, or 22.1%. Finnlines has closed the first quarter of 2020 with a net profit of 20.7 million euros, up 27.6% over the same period of the year. last year.

Commenting on the results recorded in the first quarter and highlighting the negative impact that the pandemic is having on economic activities across Europe, the president and Ceo of Finnlines, Emanuele Grimaldi, recalling that "governments across Europe have promised various emergency measures for shipping companies', noted that "this can lead to significant unfair competition. Any financial aid - has underlined - must be provided in accordance with the rules vigour and - Grimaldi specified - the support cannot be individual companies at the expense of more competitive competitors Solid. Any help from government agencies or agencies security of supply, he noted, should be be made available to all shipping companies regardless of their financial strength in order to avoid distorting the market and risking appeals competition. If the state intervenes - Grimaldi clarified - it must intervene in such a way as not to produce unfair competition.'

In the first quarter of this year, freight and passenger volumes Finnlines fleet recorded a Flexion: 121,000 passengers boarded the ships (122 thousand in the first quarter of 2019), the 186 thousand (188 thousand), cars not in the wake of passengers 41,000 247 thousand tonnes (287 thousand) and other goods.

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