Åland-based ferry operator Rederiaktiebolaget Eckerö reported an operating profit of €10 million (US$11 million) for the third quarter of 2026, down from €15.9 million (US$17.8 million) a year earlier, in an interim report published on Friday, October 23.
Revenue for July–September was €73 million (US$82 million), compared with €72.8 million (US$81.7 million) in the same quarter of 2025. Result after tax fell to €7.6 million (US$8.5 million) from €12.2 million (US$13.7 million).
"The deterioration in the result was primarily attributable to a €4.8 million (US$5.4 million) increase in energy costs, driven by higher bunker prices and increased emission allowance costs compared with 2025,” the company said. “The commencement of operations in Eckerö Link also resulted in higher costs.”
Passenger numbers declined two per cent to 1,035,571 during the quarter. Freight volumes were 52,791 units, against 52,781, which the company described as a record for the period. Its share of the Finland–Estonia freight market fell to 42 per cent from 46 per cent, while its passenger share was unchanged at 27 per cent.
Over the first nine months, operating profit fell to €3.3 million (US$3.7 million) from €21.6 million (US$24.2 million) on revenue of €178 million (US$200 million).
Bunker costs were €24.7 million (US$27.7 million), compared with €16.1 million (US$18.1 million), and emission allowance costs increased to €5.4 million (US$6.1 million) from €3.6 million (US$4 million).
The company said the main reason for the higher allowance costs was that the requirement covering vessels' CO2 emissions under the EU Emissions Trading System rose from 70 per cent to 100 per cent on January 1, 2026.
Other operating expenses also rose because of the scheduled dry-docking of Finlandia at Öresund Dry Docks in Landskrona and the start of Fjärdvägen operations on the Åland–Finland route.
"The continued high level of energy costs and geopolitical uncertainty are expected to affect operations during the remainder of the year,” Eckerö continued. “Combined with lower expected capital gains, this is projected to result in a significantly lower financial performance for 2026 compared with the previous year."
The group posted its highest annual operating profit of €25.6 million (US$28.7 million) in 2025. In August, it acquired the former Stena Nautica, now Eckerö Link, which is being prepared to replace Fjärdvägen on the Långnäs–Naantali route.
