Vincenzo Onorato's Moby Lines has posted stronger earnings for 2017 as revenue rose.
Operating profit climbed to EUR 24m ($28.99m) from EUR 7.7m in 2016, while EBITDA was up 13% to EUR 131.8m and revenue 9% to EUR 586m.
Italy's Moby, which also controls Tirrenia, Toremar, tugs, Moby St Peter Line and port terminals, carried 6.5m passengers, with freight traffic up 13% to 7.5m lane metres.
Three new start-up activities significantly weighed on the balance sheet, it said: the management of cruise activities in the Baltic area, new lines to Corsica from France and the implementation of the "motorways of the sea" project.
"This latter business has contributed significantly to the development of freight transport and the conquest of a 39% market share on routes to and from Sicily which have increased by 10% compared to the previous year," it said.
