Scandlines reports declines in freight transport
Stringent result for 2008 with Scandlines Group Despite the economic crisis and high oil prices the Scandlines GmbH was able to achieve a positive pre-tax result in 2008. According to the group the earnings amounting to EUR 139 million before interest, taxes and amortizations (EBITDA) are one of the best operative results in its 10-year history. Sales revenues of the year 2008 dropped in comparison to the previous years by EUR 7 million to EUR 584 million. After amortizations to tangible and intangible assets at the amount of EUR 36 million, goodwill impairment of EUR 50 million, interests paid at the amount of EUR 71 million and taxes the annual result was minus EUR 20 million. In the first quarter of 2009 the group registered declining transport volumes in the freight segment of 25 per cent on average. Because of the continuous down trend in industrial and consumer goods production, a negative development in freight transport with the Baltic States and a decline in volumes in Scandinavian traffic is expected for 2009. Scandlines Group has currently around 2,400 employees and deploys 17 ferry vessels in eight ferry lines between Germany, Denmark and Sweden, as well as to Latvia and Finland. The group is held by 3i and Allianz Capital Partners GmbH (each 40 per cent), and the Deutsche Seereederei GmbH (20 per cent). In 2008 more than 17.6 million passengers, around 3.6 million cars and more than 1.1 million trucks and trailers had been transported. Quelle: Österreichische Verkehrszeitung |