Viking Line (VIK1V) Q2 2025 earnings summary

Executive summary

• Second quarter saw improved results with sales up 2.0% to EUR 128.4M and operating income rising to EUR 6.9M compared to Q2 2024.

• First half of 2025 was challenging due to heavy docking schedule and weak economic conditions, leading to a net loss of EUR 17.3M.

• Passenger volumes declined year-over-year, mainly due to vessel dockings and rerouting, while freight volumes increased.

• Customer satisfaction reached record-high levels despite operational challenges.

Financial highlights

• H1 2025 sales were EUR 215.8M, down 1.5% from EUR 219.1M in H1 2024.

• Operating income for H1 2025 was EUR -11.2M, down from EUR -4.3M in H1 2024.

• Net financial items improved to EUR -6.0M from EUR -8.1M year-over-year.

• Net loss after taxes for H1 2025 was EUR -17.3M, compared to EUR -12.5M in H1 2024.

• Q2 2025 net income was EUR 4.8M, up from EUR 1.8M in Q2 2024.

Outlook and guidance

• Pre-tax profit for 2025 is expected to be on par with 2024, with significant uncertainty due to economic and geopolitical factors.

• Demand for high season (July-August) is forecasted to be good, but autumn outlook remains uncertain.