Emanuele Grimaldi-led Finnlines has boosted its earnings in the third quarter despite a dip in revenue.
The ro-ro owner posted net profit of EUR 30.3m ($33.5m), compared to EUR 24.7m a year ago.
Revenue fell from EUR 138.2m to EUR 130.4 but the company explained this was mainly due to the reduction of a cargo-related bunker surcharge.
Emanuele Grimaldi, chief executive of Finnlines, said: “The lower bunker consumption and also lower operative costs have contributed positively to the result as the share of inexpensive heavy fuel oil in Finnlines traffic is greater than in 2015 due to the scrubber installations.
“However, rising oil prices mean that a careful control of bunker consumption and purchase prices will be even more important to secure a continued efficiency gains in costs.”
Finnlines has also reduced its debt by EUR 80m to EUR 481.4m and has maintained its positive outlook for its full year result.
The end of 2016 will mark the company’s completion of the EUR 100m environmental technology investment programme that will see Finnlines vessels use modern systems.
