The shipping company Gotlandsbolaget reports declining sales in the second quarter compared to the same period the previous year. The net result showed a turnaround to profit.
”"The Group continues its recovery after the negative adjusted operating profit in 2022 thanks to the necessary decisions taken at the end of the year. Fuel prices have continued to fall during the quarter and Destination Gotland has therefore had the opportunity to further lower average prices," comments CEO Håkan Johansson.
Turnover fell 25.8 percent to SEK 564.2 million (760.0). The streamlining of the group and the decision not to operate Hansa Destinations in 2023 have resulted in lower revenues for the group, but also lower costs.
The EBITDA result was SEK 95.7 million (49.1), with an EBITDA margin of 17.0 percent (6.5).
Adjusted operating profit was SEK 8.3 million (-50.8), with an adjusted operating margin of 1.5 percent.
Profit before tax was SEK 398.8 million (-44.3).
The profit after tax was SEK 326.0 million (-47.6).
Earnings per share ended up at SEK 130.4 (-19.9).
Cash and cash equivalents amounted to SEK 3,576 million (3,137). Cash has been strengthened through the sale of tankers.
In March, Gotlandsbolaget acquired M/S Birka Stockholm for approximately EUR 38 million, and has now agreed to sell 50 percent of the vessel to Viking Line for EUR 19 million. Gotlandsbolaget and Viking Line are forming a joint company with the task of developing and offering cruises between Stockholm-Mariehamn and Stockholm-Mariehamn-Visby.
Source: FinWire-DI.SE
