Financial results of Finnlines in QI’2017 break the Group’s records
Finnlines Group has published Financial Review January–March 2017 (unaudited).
Emanuele Grimaldi, President and CEO of Finnlines, comments in conjunction with the review:
“The Finnlines Group’s first three months have proved, again, to be very strong. The January–March 2017 result for the period exceeded our record year’s corresponding period by approximately 35 per cent, and was EUR 11.2 (8.3) million. After a long period of sluggish economic development in Europe, there are positive signs in economic growth and especially in Finland the volume of exported and imported goods has increased over 10 per cent during the first three months.
We have completed successfully our EUR 1 billion Capex Programme in 2006–2016 targeted towards the fleet renewal and our EUR 100 million Environmental Investment Programme will be completed in May. Today, we have a safe and reliable fleet which is modern and environmentally very sustainable. The superb result improvement during these past four years has brought Finnlines Group’s financial and operational performance to an all-time high and is based on those past investments and, also on our ability to quickly respond to the changes in the market. Right after we have completed these major capex programmes, we are already looking beyond the horizon and at the growth opportunities. Therefore, we have started a new capex programme, the Energy Efficiency and Emission Reduction Investment Programme, where we will lengthen our existing ro-ro vessels. This investment programme will provide us with increased capacity and increased cargo flexibility in order to serve our customers even better and meet their growing demand for top quality cargo service.
Finnlines celebrated its 70th anniversary on 15 May 2017 with an extensive attendance of our important customers and other stakeholders. We are proud of the remarkable turnaround of our Company and of delivering year after year a record result. We are geared for growth and with the Finnish market finally showing a positive development we trust we continue to perform well also during the latter part of the year.”