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Tag: Stena AB | Ferry Shipping News

May 03
3

FINANCE

By | 2025 Newsletter week 18 | No Comments

Higher Profit for Stena AB in 2024

Stena published its results from the year 2024.

Stena Line – Ferry Operations

  • Operates 44 vessels on 20 routes across Europe; over 25,000 crossings carried more than 6.3 million passengers and 2 million freight units.
  • New Dublin–Liverpool route launched.
  • Acquired 49% of Africa Morocco Link (AML), gaining control over two ferry routes between Spain and Morocco.
  • Major Terminal Investment: Partnered with ABP on a GBP 200 million investment in a new RoRo terminal at Immingham in the UK with a 50-year lease – a strategic move to strengthen their North Sea presence.
  • Construction of two new “New Max” hybrid RoRo vessels (Stena Futura & Stena Connecta) began – can run on biodiesel, methanol and electricity.
  • Digitalisation & AI: Used AI for pricing, cargo deck optimisation, and fuel efficiency. The digital customer journey continues to evolve.
  • EU Emissions Trading: 2024 marked the first year of inclusion in the EU ETS, creating cost pressure while fleet transition is ongoing.

Stena RoRo

  • High Activity: Took delivery of three new E-Flexer RoPax vessels, now chartered out. Two more are on order.
  • ALA’SUINU for Marine Atlantic (Canada) – LNG, biodiesel, and battery-ready.
  • SAINT MALO and GUILLAUME DE NORMANDIE for Brittany Ferries – 12 MWh battery systems and multi-fuel capable.
  • Purchased and renamed a 2012-built RoRo vessel (ex-Giuseppe Lucchesi) now sailing as STENA SHIPPER under Danish flag.
  • Fleet of 11 vessels, mostly long-term chartered, offering predictable cash flow.
  • Now up to 15 E-Flexer orders, 12 already delivered.

 

Financial Context

  • Stena RoRo and Stena Property were the only business units to outperform the previous year amid economic headwinds.
  • Ferry operations (Stena Line) remained profitable but at a reduced level.
  • A major cost-efficiency programme launched aiming to improve EBITDA by SEK 500 million by 2026.

Stena AB Group – Key Financial Results (2024)

  • Total income (including capital gains and fair value changes):
    SEK 55.7 billion (up from SEK 55.0 billion in 2023)
  • EBITDA (excluding asset sales): SEK 13.1 billion (down from SEK 14.4 billion in 2023)
  • Operating income: SEK 6.4 billion (2023: SEK 6.2 billion)
  • Profit before tax: SEK 3.05 billion (2023: SEK 2.92 billion)

 

Revenue 2024 (MSEK) 2023 (MSEK)
Ferry Operations 19,453 18,892
Offshore Drilling 7,586 6,283
Shipping 14,416 17,013
Property 3,571 3,625
New Businesses 9,105 8,889
Other 38 44
Total revenue 54,169 54,746

 

 

Direct operating expenses    
Ferry Operations –14,031 –13,108
Offshore Drilling –3,651 –3,066
Shipping –9,358 –10,490
Property –1,141 –1,281
New Businesses –6,383 –6,398
Other 13 –18
Total direct operating expenses –34,551 –34,361

Click on photo to access the annual report

Dec 13
2

Stena AB Interim Report First 9 Months 2024

By | 2024 Newsletter week 50 | No Comments

Stena AB Revenues

Total revenues increased by SEK 593 million to SEK 41,403 (40,810) million in the nine months ended 30 September 2024. The revenues are higher within all segments except for the Shipping segment compared to the same period last year.

Stena AB Operational EBITDA

The operational EBITDA for the consolidated Stena AB Group decreased by SEK 602 million to SEK 10,300 (10,902) million.

Ferry Operations

Operational EBITDA decreased by SEK 251 million to SEK 3,332 (3,583) million in the nine months ended 30 September 2024 mainly due to higher costs and somewhat softer markets compared to the same period last year.

Freight volumes decreased 1%, car volumes decreased 1% and passenger

volumes decreased 1% compared to last year.

Stena RoRo

Operational EBITDA from chartering out vessels increased by SEK 89 million to SEK 742 (653) million mainly due to the delivery of Ala’suinu in February 2024.

Source: https://stena.com/app/uploads/2024/11/Stena-AB-Group-Q3-2024.pdf

Dec 15
0

Stena Q3 Report

By | 2023 Newsletter week 50 | No Comments

Stena AB and consolidated subsidiaries, condensed consolidated interim report for the nine-month period 1 January – 30 September 2023:

  • Consolidated EBITDA: SEK 10,904 (10,551) million.
  • Consolidated operational EBITDA, excluding net gain on sale of assets and change in fair value of investment properties: SEK 10,902 (9,560) million.
  • Result before taxes: SEK 2,434 (2,418) million.
  • Liquidity position remains healthy. As per 30 september 2023 available liquidity amounted to SEK 25.6 billion.

Ferry Operations

  • Operational EBITDA decreased by SEK 606 million to SEK 3,583 (4,189) million.
  • Travel volumes remain strong partly offset by a softer freight market together with increased costs compared to last year mainly related to increased bunker cost.
  • Freight volumes decreased 3% compared to last year, car volumes decreased 2% compared to last year and passenger volumes increased 1% compared to last year.

RoRo Operations

Operational EBITDA from chartering out Ro-Ro/Pax ferries increased by SEK 212 million to SEK 653 (441) million mainly due to larger fleet in operation compared to the same period last year.

Currency

Stena reports in Swedish kronor, which is significantly affected by fluctuations in currency

exchange rates, primarily relative to the U.S. dollar, the British pound and the Euro.

Revenues:

27% in USD, 22% in EUR, 16% in GBP and 23% were generated in SEK.

Expenses:

29% in USD, 19% in EUR, 19% in GBP and 20% were incurred in SEK.

Sep 01
0

Stena AB H1 Interim Report

By | 2023 Newsletter week 35 | No Comments

Click photo to view report

H1 (1 January – 30 June 2023) in million SEK

  • Consolidated EBITDA: 6,458 (5,547)
  • Consolidated Operational EBITDA, excluding net gain on sale of assets and change in fair value of investment properties: 6,356 (4,978)
  • Result before taxes: 485 (82)
  • Liquidity position remains strong: SEK 24.0 billion

FERRY OPERATIONS: Increased car- and passenger volumes partly offset by lower freight volumes compared to the same period last year.

  • Operational EBITDA decreased by SEK 376 million to SEK 1,686 (2,062) mainly due to higher costs. Freight volumes decreased 3% compared to last year, car volumes increased 2% and passenger volumes increased 5%.

SHIPPING: Increased operational EBITDA as a result of strong rates within Tanker operations together with increased operational EBITDA within the RoRo segment due to larger fleet in operation compared to the same period last year.

RORO OPERATIONS:

  • Operational EBITDA from chartering out Ro-Ro vessels increased by SEK 153 million to SEK 444 (291) million in H1, mainly due to larger fleet in operation.

CURRENCY

Revenues and expenses, reported in Swedish kronor, are significantly affected by fluctuations in currency exchange rates, primarily relative to the U.S. dollar, the British pound and the Euro.

Revenues in Q2: 28% USD | 21% EUR | 15% GBP | 25% SEK

Apr 28
0

Stena AB, 2022: a profitable year with positive development in all activities

By | 2023 Newsletter week 17 | No Comments

Some relevant highlights from the annual review 2022:

 Stena Line: strong year with focus on sustainability and expansion

  • With continued expansion in several regions, and new vessels in operation, Stena Line noted another successful year in 2022.
  • “Our expansion is continuing. The major challenge is the green transition, where the new E-Flexer vessels are important pieces of the puzzle in achieving our goals,” comments Niclas Mårtensson, MD of Stena Line.
  • In 2022, Stena Line’s revenue increased by 42% to SEK 17.5 billion.
  • 33% share of total income of Stena AB
  • In 2022, Stena Line acquired a large area of land adjacent to the British port of Holyhead. The aim is to enlarge the port for future expansion of ferry traffic between Wales and Ireland.
  • Stena Line secured a long-term presence in Birkenhead/Liverpool through a contract that allows the company to continue to run and develop activities in the region until 2100. Stena Line has been operating the Liverpool–Belfast route since 2011, and this long-term contract opens up new opportunities for future expansion.

Stena RoRo: With delivery of new E-Flexer vessels and sale of a rebuilt vessel, Stena RoRo

recorded a record-high result for 2022 – both when it refers to the number of

transactions and results.

Per Westling, MD, Stena RoRo. “Investments in these vessels are extensive at over SEK 1 billion per ferry. But this is now paying off, as deliveries are starting to be ready and they go

directly into service, which results in a substantial cash flow for us. We’re also in dialogue with both Stena Line and a number of other shipping companies concerning orders for new E-Flexers, which we hope we’ll be able to land in the course of the coming year.”

  • Total Income: SEK 1,300 million (600)
  • 2% share of total income of Stena AB

Click on cover to view PDF

Dec 09
0

Stena AB’s Q3 Report for 2022

By | 2022 Newsletter week 49 | No Comments

For the nine-month period ended 30 September 2022:

  • Consolidated revenue: SEK 38,422 (26,742) million.
  • Consolidated EBITDA: SEK 10,551 (6,116) million. The operational EBITDA was the strongest in the Group’s history.
  • Consolidated EBITDA, excluding net gain/loss on sale of assets, operations and change in fair value of investment properties: SEK 9,561 (5,022) million.
  • Result before taxes: SEK 1,840 (12) million

Ferry operation EBITDA increased significantly compared to last year: SEK  4,189 (2,675) million.

The result is mainly an effect of increased travel and freight volumes as well as improved travel rates compared to last year.

EBITDA from chartering out ropax vessels increased by SEK 227 million to SEK 441 (214) million in the nine-month period ended 30 September 2022 mainly due to the delivery of CÔTE D´OPALE in May 2021 and SALAMANCA in November 2021, offset by vessels sold in 2021.

In October 2022, a contract to sell the ropax vessel CONNEMARA was signed (buyer: Bluebridge Cook Strait Ferries).

Source: Stena.com
Jun 23
0

Stena AB: Interim Report

By | 2022 Newsletter week 25 | No Comments

Period: three-month period 1 January – 31 March 2022 (compared with same period last year)

Stena AB

  • Consolidated EBITDA: 1,960 (1,054) million SEK
  • Consolidated EBITDA, excluding net gain on sale of assets and change in fair value of investment properties: 1,711 (845) million SEK
  • Result before taxes –701 (–1,129) million SEK
  • Strong liquidity position. As of 31th of March 2022 available liquidity amounted to SEK 18.0 billion.

Ferry Operations

  • Revenue 3,315 (2,312) million SEK
  • Operating profit/loss –61 (–299) million SEK
  • EBITDA 668 (317) million SEK
  • +6% freight volumes
  • +126% car volumes
  • +84% passenger volumes (mainly due to Covid-19 restrictions on travel in 2021.

RoRo Operations

  • EBITDA from chartering out roro vessels 139 (73) million SEK mainly due to the delivery of CÔTE D´ OPALE in May 2021 and SALAMANCA in November 2021, offset by vessels sold in 2021.
Jun 03
2

Stena AB, Q1 Results 2021

By | 2021 Newsletter week 22 | No Comments

Result before taxes: SEK –1,129 (–2,101) million

Consolidated EBITDA: SEK 1,054 (1,028) million.

Consolidated EBITDA, excluding net gain on sale of assets and change in fair value of

investment properties: SEK 845 (761) million.

Available liquidity was further strengthened

FERRY OPERATION

Revenu SEK 2,312 million (2,803)

EBITDA increased compared to last year despite only half a month of negative Covid-19 impact last year. Passenger and car volumes are still under pressure but are compensated by strong freight volumes and cost reductions. SEK 317 million (211)

SHIPPING

The first delivered RoPax newbuilding in Q3 2020 has commenced its 10-year charter contract (Brittany Ferries) which contributes to a stable EBITDA for RoRo operations: SEK 73 million (70).

View Stena AB Q1 pdf

Nov 28
0

FERRY FINANCE

By | 2019 Newsletter week 48 | No Comments

Stena AB’s Ferry Division Is Strong Performer In the Group

Stena AB key figures for first nine months

Profit Before Tax = SEK 192 million (SEK 1,076 million)

Consolidated EBITDA, excluding net gain on sale of assets and change in fair value of investment Properties = SEK 5,938 million (SEK 3,856 million)

Consolidated EBITDA, including net gain on sale of assets and change in fair value of investment Properties = SEK 7,098 million (SEK 6,775 million)

Ferry Operation Stena Line (for the first nine months)

Improved and all-time high EBITDA compared to last year, mainly due to increased car volumes, passenger- and freight volumes.

EBITDA = SEK 2,958 million (SEK 2,490 million)

Shipping

Increased EBITDA mainly due to stronger rates in all tanker segments compared to last year together with more operational days and higher rates for the LNG vessels.

Strong contract coverage and utilisation rate across the roro fleet, offset by lower charter income as a result of vessels sold in 2018.

Click cover for download

Aug 30
1

FERRY FINANCE

By | 2019 Newsletter week 35 | No Comments

Stena AB Interim Report H1

Ferry & Ro-Ro highlights:

Ferry Operations

EBITDA increased compared to last year mainly due to continued positive volumes for cars (3%) and passengers (1%).

Shipping (Ro-Ro)

Strong contract coverage and utilization rate across the Ro-Ro fleet, offset by lower charter income as a result of vessels sold in 2018.

Irish Continental Group Reports H1

Key figures for the first 6 months (Group)

  • +6.1% Revenue
  • +14.9% EBITDA (pre non-trading items)
  • -12.0% EBIT (including non-trading items)

Key figures for the first 6 months (Ferries)

  • +1.5%  Revenue
  • +4.8%  EBITDA
  • -20.3% EBIT (including non-trading items)

Trends

  • -5.7% cars
  • +7.3% ro-ro freight