Gotlandsbolaget reported annual revenue of SEK3.7446 billion ($355.74 million) for 2025, which represents an increase from the SEK2.622 billion recorded during the previous year. The shipping company stated that this growth was primarily driven by the takeover of the Oslo-Copenhagen route through Go Nordic Cruiseline.
Adjusted operating profit fell to SEK35.3 million compared to SEK218.2 million in 2024. The firm attributed the decline to high establishment costs following the integration of the new cruise operations into the group structure.
A loss after tax of SEK87.3 million was recorded for the full year. This result was impacted by unrealised exchange rate changes related to US dollar holdings held for the construction of Gotland Horizon X.
Go Nordic Cruiseline handled 711,700 passengers during its first full calendar year of operation. The company noted that while passenger volumes met its expectations, onboard sales did not reach planned levels.
Two vessels, Nordic Pearl and Nordic Crown, were out of service during the first quarter for docking and upgrades. These planned maintenance periods contributed to the lower annual earnings according to the year-end report.
Destination Gotland saw a 1.6 per cent increase in passenger traffic, reaching 1,758,500 single trips. Chief Executive Officer Björn Nilsson said the number of individuals travelling on Gotland rose by 4.4 per cent.
The partnership with Viking Line involving the cruise ship Birka Gotland showed improved results with 570,500 passengers welcomed during the year. Gotlandsbolaget stated that while this represents positive development, volumes have not yet reached their full potential.
The Swedish Transport Administration has awarded the company a renewed contract for Gotland traffic from 2027 to 2035. This agreement provides approximately SEK280 million in annual compensation, which is SEK220 million less than the current arrangement.
To address the reduction in subsidies, the company reported that it is focusing on cost efficiencies and volume increases. Work is currently underway on Visby to install hanging decks designed to increase car capacity by approximately 20 per cent.
The company is also investing in biogas production at a facility near Eskilstuna that is expected to start production in the third quarter of 2026, according to the statement. This facility is part of the strategy to secure fuel for the Gotland traffic through a ten year agreement.
Nilsson remarked that the group is creating the conditions required to increase profitability in 2026. He noted that the company’s cash position allows for the consideration of possible acquisitions and the construction of new ships.