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Finnlines’ H1 revenue earnings nosedive
Published : 31 Jul 2020, 02:52
The shipping operator Finnlines Group’s revenue earnings declined significantly in the January-June period this year due to the negative impacts of coronavirus outbreak.
The revenue earnings for January-June 2020 was EUR 236.4 million, compared to that of EUR 295.5 million in the corresponding period of 2019, posting a year-on-year decline of 20 per cent, said a press release.
The result for the reporting period was EUR 31.7 million, posting a 32 per cent decrease compared to the result of EUR 46.7 million in the corresponding period of last year.
The COVID-19 pandemic continued its dramatic effects in Europe, including Finland, and operationally, the period was extremely challenging.
The biggest impact has been observed on passenger traffic, which has stopped almost completely. Finnlines, like any other shipping operator, is also suffering from the slowdown in global trade caused by the global pandemic.