Improvement of the performances financial institutions of Finnlines



The company of Finnlines navigation of the Neapolitan shipowning group Grimaldi clearly has archived item the first trimester of this year with a profit of 328 thousand euros on revenues for 126,8 million euros respect to a net loss of -10,9 million euros on revenues for 133,9 million euros in the correspondent period of 2013. The EBITDA is piled to 20,2 million euros (+82.0%) and the EBIT has been of positive sign for 5,4 million euros respect to operating liabilities of -5,8 million euros in the first three months last year.

"The result of the first trimester - it has commented the president and managing director of Finnlines, Emanuele Grimaldi - has been positive for 0,3 million euros, that is advanced of 11 million euros regarding the year precedence. The radical change of direction in the financial results of the society - Grimaldi has explained - has taken place already in the course of the last trimester of 2013 and is continued during the first trimester of 2014. This has been a confirmation of the positive development of the group also because in recent years the first trimester, because of the seasonality, has been traditionally negative. Behind the importance of this performance there are various measures assumed in the course of 2013: optimization of the fleet, the routes and the commercial flows, painful decisions of reduction of the staff in the field of the harbour activities and in other sections, the reduction of the financings under onerous title, the cut of the sovracapacità through the sale of some ships, the control and the cost reduction. Finnlines - it has emphasized Grimaldi - has the young fleet of the Baltic Sea with low consumption and high efficiency: with the measures adopted and the engagement of management, in the course of the 2014 we expect to improve the result before the taxes of the group regarding last year".

In the first three months of the 2014 fleet employed from Finnlines, that it was constituted by 24 ships so as in the first trimester last year, it has recorded an increment of the volumes of goods and transported passengers: on the ships of the company cargo units have travelled 158 thousand (151 thousand in the first trimester of 2013), 16 thousand car not to the continuation of the passengers (13 thousand), 584 thousand tons of goods (518 thousand) and 109 thousand fleeting (105 thousand).