Gotlandsbolaget (GOTL) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 reached 2,622 MSEK, up 10.8% year-over-year, mainly due to the Oslo–Copenhagen line acquisition and stable Gotlandstrafiken volumes.

• Adjusted EBIT for 2024 was 218.2 MSEK, a 34.9% increase, driven by improved Gotlandstrafiken results and new business, despite integration and startup costs.

• Net income after tax was 375.6 MSEK, down 7.1% year-over-year, reflecting the absence of one-time gains from asset sales in 2023.

• Major investments included the Oslo–Copenhagen line, biogas plant, and ordering the Gotland Horizon X catamaran.

• Positive cash flow from operations and a strong balance sheet supported continued investments and expansion.

Financial highlights

• Q4 2024 revenue rose 33.8% to 630.2 MSEK compared to Q4 2023, driven by the Oslo–Copenhagen line.

• Q4 adjusted EBIT was -60.6 MSEK, similar to last year; full-year adjusted EBIT was 218.2 MSEK (+34.9%).

• Full-year adjusted EBITDA was 552.4 MSEK (+13.1%).

• Net financial income improved to 289.4 MSEK, aided by higher interest rates and currency gains.

• Cash flow from operations increased 22.7% to 817.6 MSEK.

Outlook and guidance

• Market for Gotlandstrafiken is stabilizing with good potential for increased travel volumes.

• Continued focus on sustainable shipping, expansion, and new business opportunities.

• Investments in biogas and new vessels to support long-term growth and climate goals.

• Both Gotlandstrafiken and the Oslo–Copenhagen line are targeted for further development and volume growth.