Clipper Group A/S deficit of 121 mio. kr.

Clipper Group A/S deficit of 121 mio. kr.

01-06-2018 12:00:00

Clipper Group’s Danish department, Clipper Group A/S which includes Danske Færger, made it out of 2017 with a deficit of 121 million Danish kroner against a deficit of 83 million the preceding year. Reasons behind the deficit include depreciations of ship values and loss in sale of ships.

Operation results were in deficit of 76 million kroner, against a deficit of 64 million in 2016.

The ferry company Danske Færger (Danish Ferries in English) showed progress in both revenue and excess. Especially excess increased significantly from 44 million kroner in 2016 to 124 million in 2017. Revenue increased 4,3 percent due to such factors as government aid in support of the Island Ferry traffic.

Danish Ferries will be shutting down their ferry service on Bornholm in September this year.

Clipper Group A/S is the conglomerates administrative main office and one of the three larger offices that is left after a larger reduction of offices. The three larger offices left are now located in Copenhagen, Houston and Hong Kong.

Clipper Group A/S is part of Clipper Group Ltd, which is located in the Bahamas, but has its main office in Copenhagen, and pays taxes in Denmark. Clipper Group’s main business activity is dealing with dry cargo.

The company has had a good start of 2018 in this department..

"2017 proved to be a significantly better market than 2016, and 2018 has shown a positive start," says Peter Norborg, CEO of Clipper Group Ltd.

Maritime Danmark

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