Baltic ferry operator Viking Line lowered its 2026 earnings outlook on Thursday, October 22, after higher fuel and emission allowance costs weighed on its third-quarter result.
The board now expects pre-tax income for the year to be "below previous expectations and significantly lower than in 2025", attributing this to persistently elevated energy prices and their effect on the group's cost base.
The quarter's fuel and emission allowance costs totalled €21.8 million ($24.49 million), compared with €14.8 million a year earlier. Operating expenses increased by 7.1 per cent to €91 million.
Sales rose by 1.6 per cent to €154.9 million, while net profit fell by 14.3 per cent to €25.1 million. The amount attributable to associates and joint ventures fell to €2.7 million from €4.3 million.
"The underlying business developed in line with the comparison period, while persistently high energy prices continued to weigh on earnings," said President and CEO Marcus Risberg.
Nine-month net profit fell to €6.4 million from €12 million on flat sales of €368.9 million. Cargo units carried declined to 100,719 from 104,666, though cargo revenue rose by 3.3 per cent on higher average revenue per unit.
The company had forecast in February that 2026 pre-tax profit would match or slightly exceed 2025, before revising that outlook in August to below the previous year. The third quarter normally generates the largest share of its annual earnings.
