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Viking Line (VIK1V) investor relations material
Viking Line Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered stable results in a challenging market with restrained consumer behavior, geopolitical uncertainty, and weak economic development in the region, but results were in line with forecasts.
Operational efficiency, cost control, and customer focus contributed to resilience; passenger volumes remained stable and a freight record was achieved.
Fourth quarter performance improved year-over-year, aided by targeted cost adjustments and operational measures.
Investments focused on vessel maintenance and emission allowances, with continued development of sustainability and digitalization initiatives.
Financial highlights
Full-year sales were EUR 480.9M, up 0.2% from EUR 480.2M in 2024; Q4 sales were EUR 112.6M, up 2.8% year-over-year.
Operating income for the year was EUR 21.1M (down from EUR 26.7M); Q4 operating income was EUR 3.6M (up from EUR 1.5M).
Net financial items improved to EUR -2.1M from EUR -6.9M year-over-year.
Income before taxes was EUR 18.9M (EUR 19.8M); income after taxes was EUR 16.0M (EUR 15.9M).
Gross profit for the year was EUR 379.5M (EUR 377.7M); Q4 gross profit was EUR 88.6M (EUR 86.0M).
Net cash flow from operating activities was EUR 57.8M (EUR 49.0M).
Outlook and guidance
Profit before tax for 2026 is expected to be on par with or slightly better than 2025.
Significant uncertainty remains due to the prolonged economic downturn, changing customer spending, and geopolitical risks affecting energy prices and emission allowances.
- Q3 2025 net income rose 18% YoY, but nine-month profit fell due to higher costs and dockings.VIK1V
Q3 202523 Oct 2025 - Q2 saw improved earnings, but H1 ended with a net loss amid lower passenger volumes.VIK1V
Q2 202515 Aug 2025 - Earnings fell on lower passenger demand and higher costs, with 2024 profit seen below last year.VIK1V
Q3 202413 Jun 2025 - H1 2024 saw lower sales, negative earnings, and a cautious outlook amid market headwinds.VIK1V
Q2 202413 Jun 2025 - Earnings fell on softer demand, but cargo volumes and market share reached new highs.VIK1V
Q4 20246 Jun 2025 - Sales and earnings declined in Q1 2025, but cargo volumes and investments increased.VIK1V
Q1 20256 Jun 2025
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