Viking Line (VIK1V) Q3 2025 earnings summary

Executive summary

• Third quarter 2025 saw improved earnings, with income after taxes rising to EUR 29.3 M from EUR 24.9 M year-over-year, despite only a slight increase in sales to EUR 152.5 M.

• The full nine-month period was impacted by planned vessel dockings, leading to lower operating income and net profit compared to 2024.

• Customer satisfaction remained at record-high levels, and leadership transition was announced for November.

Financial highlights

• Q3 2025 sales: EUR 152.5 M (+0.7% YoY); operating income: EUR 28.7 M (down from EUR 29.4 M); net income: EUR 29.3 M (up from EUR 24.9 M).

• Jan–Sep 2025 sales: EUR 368.3 M (down 0.6% YoY); operating income: EUR 17.5 M (down from EUR 25.2 M); net income: EUR 12.0 M (down from EUR 12.4 M).

• Passenger revenue fell 1.0% to EUR 328.2 M; cargo revenue rose 4.5% to EUR 38.5 M.

• Operating expenses increased 2.5% to EUR 250.7 M, driven by emission allowances, fairway dues, and docking costs.

Outlook and guidance

• Significant uncertainty persists due to economic downturn and geopolitical risks, especially regarding energy prices.

• Pre-tax profit for 2025 is expected to be on par with 2024.