Independent journal on economy and transport policy
11:30 GMT+1
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Finnlines complains that Finnish aid for maritime transport is not granted in a fair and non-discriminatory manner
The company's revenues fell by -18.4% in the third quarter
November 9, 2020
In the third quarter of 2020, the company's fleet transported 179,000 load units (-3.2%), 42,000 tonnes of cars not followed by passengers (+7.7%), 289,000 tonnes of un joined goods (+6.3%) and 163,000 passengers (-30,3%).
Pointing out that "the Covid-19 pandemic shows no signs of slowdown and shipping companies around the world have had to deal with an exceptional situation that has never occurred first', the Chairman and CEO of the finnish companies, Emanuele Grimaldi, pointed out that, "despite the losses and the difficult times, Finnlines has not stopped any ship and the company's services continued unchanged.' Grimaldi also remarked that if, in this moment of crisis, governments across Europe, and in particular the Finnish one, have recognised the importance of transport maritime union to secure supplies, especially those finland, which entrusts up to 90% of its sea exports and 80% of imports, however Grimaldi reported that the Finnlines service linking Finland and Sweden has not received financial aid from the State worth 45 million euros of the National Emergency Supply Agency and that new State aid for maritime transport worth 24.8 million, which was recently offered by the Finnish Transport and Communications Agency for the many connections from Finland to Sweden and Estonia, were made tailor-made for existing operators and the conditions for obtaining them have ruled out the possibility for Finnlines to access any State aid. Grimaldi recriminated that these aid packages are distorting competition, discriminatory and contrary to the principles of proportionality.
In the first nine months of 2020 Finnlines totalled revenues €363.1 million, down by -19.5% on the corresponding period of last year. Operating costs are amounted to 305.5 million (-16.1%). EBITDA was 107.2 million (-21.7%), EBIT 58.7 million (-33.3%) and the profit net of 54.2 million euros (-33.8%).
In the period January-September of this year, the carried 536,000 loading units (-6.1%), 102,000 cars not followed by passengers (-19.7%), 811,000 goods un joined (-4.9%) and 390,000 passengers (-28.3%).
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In the third quarter of 2020, the company's fleet transported 179,000 load units (-3.2%), 42,000 tonnes of cars not followed by passengers (+7.7%), 289,000 tonnes of un joined goods (+6.3%) and 163,000 passengers (-30,3%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
