Steady and reliable, almost completely predictable performance from Viking Line. The dividend remains at the same level as the previous year, and debts are being repaid as planned. Additionally, it is a relief that Birka is managing even reasonably well, so it hasn’t become a money pit for Viking Line. Meanwhile, loans are being repaid according to plan, leaving the company fully prepared in a few years to make a major investment in electric car ferries for the Tallinn route. As a very small upside, there is the development of Birka; if the cruise line gets properly back on its feet, it could perhaps become a new Kristina Cruises for the Baltic Sea. Similarly, the minority stake in Eckerö Line is an interesting strategic piece, as the latter has quietly strengthened its position in freight traffic between mainland Finland and Åland. A major question mark is the traffic between Helsinki and Stockholm, for which a vision needs to be established sooner or later. The fleet currently used for this route is starting to age (as is the case for the competitor as well).
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