Viking Line's H1 2025 loss widens despite Q2 recovery

Viking Line has reported a challenging first half for 2025, with a slight decrease in sales and a widening of its pre-tax loss compared to the same period last year.

The ferry operator’s performance was heavily impacted by a weak first quarter, which saw two of its vessels out of service for planned dockings. However, the company’s results showed a marked improvement in the second quarter, with both sales and profit increasing year-on-year.

For the six months ending 30 June, the group’s sales amounted to €215.8 million ($233 million), a small decline from the €219.1 million recorded in the first half of 2024. This contributed to a pre-tax loss of €17.2 million, a notable increase from the €12.4 million loss reported in the prior-year period. The company's outgoings also rose, with operating expenses increasing by 3.5 per cent to €165.8 million.

In contrast, the second quarter showed a positive trend. Sales for the three months to June 30 grew to €128.4 million from €125.9 million, while income before tax more than doubled to €4.8 million from €1.8 million in the second quarter of 2024.

President and CEO Jan Hanses described the first half of the year as being, "characterized by a relatively heavy docking programme and a challenging market situation." He also pointed to external pressures, including increased fairway dues in Finland and higher fees from the EU emissions trading system.

Looking ahead, the company said demand for the high season months of July and August is forecasted to be good, though the outlook for the autumn remains uncertain. The board has maintained its previous forecast, estimating that pre-tax profits for the full year 2025 will be on par with 2024.