Rostock-Gedser Route Drives Scandlines’ Revenue Growth
- Business & Finance
German-Danish ferry operator Scandlines said that its revenue grew by 3.5% to EUR 460 million in 2015, from EUR 445 million in 2014, as the company recorded its highest number of transported passengers in five years, mostly driven by its Rostock-Gedser route.
The ferries transported 7.6 million passengers, 1.8 million cars and 0.5 million freight units in 2015.
The Rostock-Gedser route saw a 9.6% increase in transported cars and passenger growth of 6.3% during the year, while the Puttgarden-Rødby route experienced a slight decline of 0.1% in transported cars and a modest passenger growth of 2.2% as the route faced operational challenges in 2015 when capacity was reduced by 25% in the high season following damage sustained to a ferry during a planned yard stay.
“We continued the positive trend in 2015 and met our expectations for the year as the efforts to strengthen the Rostock-Gedser route showed good results and confirmed the prospects of establishing the route as an efficient, reliable and competitive corridor through Central and Eastern Europe,” CEO Søren Poulsgaard Jensen said.
“Despite challenges finalising our two new hybrid ferries for the Rostock-Gedser route and operating the Puttgarden-Rødby route at 25% capacity reduction for several months, we grew both revenue and profit during the year and transported the highest number of passengers in five years,” Jensen added.
Furthermore, Scandlines continued to build a more focused business in 2015 with the divestment of the Helsingborg-Helsingør ferry route in January.
The company also invested EUR 136 million in completion of two new hybrid ferries by Danish shipyard Fayard, expected to be operational on the Rostock-Gedser route in 2016, and other sectors.
Scandlines expects a minor overall decline in financial performance in 2016 as a consequence of considerable charter costs for the two new vessels.