Finnlines’ Financial Review January–March 2026

The start of the year 2026 has been marked by global challenges, but Finnlines’ results and outlook remain stable. The company is committed to ensuring that commercial and industrial transport remains reliable under all circumstances, and to responding to changes in the business environment through long-term and determined investments.

Thomas Doepel, President and CEO, in conjunction with the review:

“The first three months of the year have been defined by structural volatility for the whole shipping industry. The major conflict in the Middle East, involving the US and Israeli attack on Iran 28th February 2026 and the closure of the Strait of Hormuz has caused the largest disruption to the global oil market in modern history. For Finnlines, this was immediately seen as sharp spikes in fuel prices and increased price volatility. Due to the delay in applying the increased fuel costs in our Bunker Adjustment Factor (BAF), the short-term effect on fuel price increases had a negative impact on our quarterly financial result. The global energy crisis was not the only factor increasing the cost for intra-European trade. As from 1st January 2026, the EU ETS (Emissions Trading System) now requires ships to cover 100 per cent of emissions, introducing significant new carbon surcharges.

From a financial perspective, Q1/2026 provided a stable start to the year for Finnlines. The Finnlines Group’s revenue in January–March 2026 amounted to EUR 176.9 (166.0 in 2025) million, and the company’s financial position remained strong.

Result before interest and taxes (EBIT) was EUR 10.3 (11.2) million. Thanks to lower financing costs, the Finnlines Group’s earnings before taxes (EBT) improved slightly compared to previous year, amounting to EUR 8.0 (7.9) million.

The cargo volumes transported during January–March 2026 totaled around 196,000 cargo units, 19,000 cars (excluding passengers’ cars) and 297,000 tons of non-unitized freight. In addition, 162,000 private passengers and professional drivers travelled with us.

In the midst of all the geopolitical volatility, Finnlines remains more committed than ever to provide critical maritime logistics infrastructure ensuring the integrity of the European internal market and consequently Europe’s strategic autonomy. Our task is to ensure that trade and industrial transport flows remain reliable in all conditions and to respond to changes in the business environment through long-term and determined investments.

By continuously investing in new and more energy efficient vessels, we are not only reducing our emissions but also reducing the exposure of escalating energy costs. This, in combination with our constant optimization of services, capacity and route network, will ensure that Finnlines remains a pivotal player for supporting economic growth, environmental responsibility and security of supply in the Baltic Sea region.

I would like to thank all our employees, customers and stakeholders, who are building a sustainable future for maritime transport and passenger travel together with us.”