Gotlandsbolaget has reported a strengthened result for the third quarter of 2025, driven largely by the acquisition of Go Nordic Cruiseline. Adjusted operating profit for the quarter amounted to SEK352.7 million ($32 million), up from SEK318.2 million in the same period last year.
Revenues for the quarter increased significantly to SEK1.42 billion from SEK1 billion in Q3 2024. The company attributed the changes mainly to the takeover of the Oslo-Copenhagen route in October 2024, now operating as Go Nordic Cruiseline, which affected both revenues and costs.
Net financial items were positive at SEK16.9 million, aided by unrealized exchange rate changes.
Björn Nilsson, CEO of Gotlandsbolaget, stated, "The cruise line is developing in the right direction in terms of passenger numbers, but the revenue level, especially onboard sales, does not meet our expectations."
He noted that 2025 is an establishment year for the new line, and results continue to be burdened by high startup costs.
The company's collaboration with Viking Line, Gotland Alandia Cruises (operating the Birka Gotland), saw a positive impact, with 161,000 guests during the quarter, a three per cent increase year-on-year.
However, passenger numbers in the core Gotland traffic decreased slightly by one per cent during the quarter, though resident travel increased by six per cent year-to-date.
For the first nine months of 2025, adjusted operating profit fell to SEK157.6 million from SEK278.8 million in the previous year. This decline was attributed to the docking and upgrading of vessels Nordic Pearl and Nordic Crown, as well as the establishment costs for Go Nordic Cruiseline.