# Finnlines reports stronger earnings as European freight services expand - **Source:** https://pelavox.com/finnlines-reports-stronger-earnings-as-european-freight-services-expand/ - **Publisher:** pelavox. (The voice of shipping) - **Author:** Helena Pierce - **Published:** 2026-11-14T07:00:00+00:00 - **Updated:** 2026-11-14T07:00:00+00:00 - **Section:** Business / Company Results - **Type:** News - **Topics:** Baltic Sea, EU ETS, European Shipping, Financial Results, Finland, Finnlines, Freight Transport, Grimaldi Group, Hansa Superstar, Maritime Logistics, North Sea, Ro-Pax, Ro-Ro Shipping, Shipping Earnings Finnlines reported higher revenue and profitability for the first nine months of 2026, supported by increased freight volumes, improvements to its North Sea and Baltic Sea services, and a strong summer season in passenger transport. The Finnish shipping company, part of the Grimaldi Group, generated revenue of €658.8 million between January and September, an increase of 20% from €547.1 million in the corresponding period of 2025. EBITDA rose by 30% to €184.7 million, while net profit increased by 59% to €108.6 million. Third-quarter performance was particularly strong, with revenue increasing by 26% to €246.4 million and EBITDA rising by 46% to €83.6 million. The result for July–September reached €58.3 million, compared with €32.1 million a year earlier. The company attributed the improvement partly to changes in its route network, including increased capacity and frequency between Belgium and Ireland and direct connections from Poland to the United Kingdom, Belgium and Spain. ## Freight growth supports European operations Finnlines transported approximately 607,000 cargo units during the first nine months of 2026, compared with 592,000 during the corresponding period of 2025. The company also carried 66,000 cars, excluding passengers’ vehicles, up from 51,000 a year earlier. Non-unitised freight volumes increased to 906,000 tonnes from 871,000 tonnes. Growth was supported by stronger cargo movements across the North Sea network and increased freight activity on the Finland–Sweden and Finland–Poland routes. Thomas Doepel, President and CEO of Finnlines, said the improvements in North Sea services contributed significantly to the company’s financial performance, alongside a positive development in port operations. Passenger transport presented a more mixed picture. Approximately 813,000 private and commercial passengers travelled with Finnlines during the first nine months, compared with 831,000 a year earlier, although the summer season supported the third-quarter result. Shipping and Sea Transport Services generated revenue of €635.5 million during the reporting period, compared with €530.1 million in 2025. Port Operations revenue increased to €38.4 million from €31.7 million. The company’s operating profit (EBIT) rose to €116.6 million from €74.5 million, while its port operations returned to a positive operating result. The reported EBIT also included government compensation relating to financial losses from earlier COVID-19 travel restrictions. ## Energy costs and environmental charges remain a concern Despite stronger financial performance, Finnlines reported continued pressure from geopolitical uncertainty, volatile energy markets and environmental compliance costs. The company said the full implementation of the EU Emissions Trading System in 2026, under which maritime transport emissions are now subject to full applicable coverage, has increased the environmental charges passed through to freight customers and passengers. Higher fuel prices and associated surcharges also contributed to reported revenue growth during the period. Finnlines has continued adjusting vessel deployment, service frequencies and route capacity to improve fleet utilisation and respond to changing cargo demand. Its financial position also strengthened, with interest-bearing debt declining to €313 million at the end of September from €344 million a year earlier. The net debt-to-EBITDA ratio improved to 1.5 from 2.1. Net cash generated from operating activities amounted to €117.8 million, slightly below the €119.8 million recorded in the corresponding period of 2025. ## Fleet renewal continues Finnlines is also progressing its fleet development programme, with three Hansa Superstar-class Ro-Pax vessels scheduled for delivery during 2028 and 2029. The vessels are intended for deployment in the Baltic Sea as part of the Grimaldi Group’s wider fleet expansion and renewal programme. Gross capital expenditure during the first nine months of 2026 totalled €42.5 million, compared with €67.4 million a year earlier, covering investments in vessels, cargo-handling equipment, dry-dockings and energy-efficiency improvements. Looking ahead, Finnlines expects its full-year 2026 result to improve considerably compared with 2025, although it has not provided a specific numerical earnings forecast in the financial review. The latest results reflect the contribution of higher freight volumes, improved route connectivity and passenger operations to the company’s performance, while energy costs and environmental charges remain important factors affecting its European shipping activities. --- Cite as: "Finnlines reports stronger earnings as European freight services expand", pelavox., 14 November 2026, https://pelavox.com/finnlines-reports-stronger-earnings-as-european-freight-services-expand/