In the first quarter of 2025, Tallink posted a net loss of €33.2 million.

"The first quarter was undoubtedly challenging for the company. Consumer and business confidence remains low, with the economic situation in our home markets and ongoing global geopolitical tensions setting the tone. Additionally, extended docking periods and four idle vessels had a significant impact on our results," said Paavo Nõgene, CEO of AS Tallink Grupp.

"On the other hand, if we exclude the impact of the four idle vessels, our results are in line with those of the first quarter of 2019. We are working daily to resolve the issue of the idle vessels — for example, the passenger ferry Star I has now been sold and handed over to its new owner," he added.

The group's unaudited consolidated revenue for the first quarter totalled €137.3 million.

EBITDA (earnings before interest, taxes, depreciation and amortisation) was negative at €3.8 million, and the net loss amounted to €33.2 million.

Investments during the first quarter totalled €13.3 million, most of which were allocated to the refurbishment of the cruise ferries Baltic Princess and Silja Serenade.

The 68-day maintenance works affected both passenger and cargo volumes on the Finland–Sweden routes.

Loan repayments and related interest expenses in the first months of the year amounted to €20.8 million.

But Nõgene said there was some positive news too.

"The vessel dockings in the first quarter should also be viewed as an investment in technology and the customer experience. We're already seeing a clear uptick on the Finland–Sweden route — the feedback on the newly refreshed Baltic Princess has been very encouraging. Special cruises and surprises are in store across all our routes. Work is underway at every level to ensure the upcoming high season — spring and summer — meets our expectations," he said.

Viking Line's loss deepens to €22.1 million

In the first quarter of 2025, Finnish ferry operator Viking Line posted a loss of €22.1 million, as freight volumes increased but passenger numbers declined.

The company's first-quarter results met the board's expectations, but fell short of last year's, Viking Line announced Thursday.

"The main reason was the docking of two vessels during this period," noted CEO Jan Hanses.

"Demand in the markets remains subdued, which is also reflected in the number of passengers," he explained. "On the other hand, onboard consumption was slightly higher than last year. The economic situation in our service area continues to make customers cautious."

Hanses said the company expects demand to grow at the end of the second quarter, i.e. as summer arrives.

"The strengthening of the Swedish krona at the end of March improves our position in the Swedish market," he added.

In the first quarter of this year, Viking Line's revenue fell by 6.3 percent on year to €87.3 million, and its loss deepened by more than half to reach €22.1 million.

The ferry operator's first quarter passenger numbers fell by 12 percent on year to 767,353, however the amount of cargo it carried increased by more than one-tenth to total 36,352 units.

Viking Line cited the timing of Easter as one reason for the drop in passenger numbers it saw last quarter, as the holiday fell in March last year but April this year. Regarding the posted growth in freight volumes, the company pointed to a focus on long-term customer relationships as well as the launch of a green corridor between Finland and Sweden.

In the first quarter of this year, Viking Line operated with five fully owned vessels on the northern Baltic Sea and the Gulf of Finland.

The Finnish-owned ferry operator's routes include Tallinn-Helsinki and Tallinn-Stockholm, the latter featuring a seasonal stop in Mariehamn, in the Aland islands.

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