Viking Line ABP Announces Unaudited Consolidated Earnings Results for the Third Quarter and First Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Full Year of Fiscal Year 2016
November 16, 2016 at 02:00 am EST
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Viking Line ABP announced unaudited consolidated earnings results for the third quarter and first nine months ended September 30, 2016. For the quarter, the company announced sales was EUR 159.3 million compared to EUR 164.1 million for the same period a year ago. Operating income was EUR 25.3 million compared to EUR 30.1 million for the same period a year ago. Income before taxes was EUR 23.2 million compared to EUR 27.4 million for the same period a year ago. Income for the period was EUR 18.6 million compared to EUR 22.0 million for the same period a year ago. Income attributable to parent company shareholders was EUR 18.6 million compared to EUR 22.0 million for the same period a year ago. Earnings per share before and after dilution were EUR 1.72 compared to EUR 2.03 for the same period a year ago. On September 30, 2016, the group's non-current interest-bearing liabilities amounted to EUR 154.8 million compared to EUR 178.2 million for the same period a year ago.
For the first nine months, the company announced sales was EUR 397.3 million compared to EUR 403.1 million for the same period a year ago. Operating income was EUR 14.8 million compared to EUR 22.5 million for the same period a year ago. Income before taxes was EUR 11.6 million compared to EUR 19.7 million for the same period a year ago. Income for the period was EUR 9.7 million compared to EUR 16.2 million for the same period a year ago. Income attributable to parent company shareholders was EUR 9.7 million compared to EUR 16.2 million for the same period a year ago. Earnings per share before and after dilution were EUR 0.90 compared to EUR 1.50 for the same period a year ago. Net cash flow from operating activities was EUR 17.5 million compared to EUR 29.7 million for the same period a year ago. Investments in other intangible and tangible assets was EUR 3.6 million compared to EUR 1.3 million for the same period a year ago. Consolidated operating income declined mainly due to lost revenue in connection with planned and completed vessel dry-dockings for modernization and maintenance of vessels as well as lower demand during the latter part of the reporting period.
The company provided earnings guidance for the full year of fiscal year 2016. The board of directors' assessment is that operating income will be lower in 2016 than in 2015.
Viking Line Abp is a Finland-based company engaged in the passenger and freight transportation on the Baltic Sea. The Companyâs activities are divided into two segments: Passenger Services, which provides overnight and day cruises between Finland and Sweden, Finland and Estonia, as well as charter voyages; and Cargo Services, which offers sea transport, stevedoring and freight forwarding services on routes between Finland, Aland Islands and Sweden, as well as between Finland and Estonia. Its onboard services comprise shopping, restaurants, bars, nightclubs and accommodation. Additionally, the Company operates Park Alandia Hotel in Mariehamn, as well as is responsible for the scheduled and chartered bus transportation in Finland and Sweden. It is a parent of Viking Rederi AB, OU Viking Line Eesti, Viking Line Finnlandverkehr GmbH, Viking Line Buss Ab, and Viking Line Skandinavien AB, among others.
Viking Line ABP Announces Unaudited Consolidated Earnings Results for the Third Quarter and First Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Full Year of Fiscal Year 2016