Fjord1 increases income

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The Norwegian ferry company Fjord1 increased their income to 824,5 million NOK in the third quarter of 2018 from 761,7 million in the same period last year. The increase in income is due to new contracts in the ferry segment. Their final net profit was 193,3 million NOK, compared to 169,3 million in the same quarter of 2017.

The company’s earnings before interests and tax, EBIT, increased to 278.4 NOK from 235.6 million. Profit before tax increased from 249.6 million from 222.8 million.

The company writes about their future prospects that, as long as operations are stable in the fourth quarter, it will achieve good annual earnings somewhere around the same level as in 2017.

However, 2019 will be a transitional year because of changes in the contract portfolio. The company expects a decrease in revenue of 10-20 percent compared to 2018.

Source: Fjord1 ASA / Maritime Danmark