Viking Line (VIK1V) Q1 2026 earnings summary

Executive summary

• Sales declined 3.1% year-over-year to EUR 84.6M amid subdued demand and volatile energy prices.

• Operating income was EUR -18.8M, slightly worse than EUR -18.0M last year, but net loss after taxes improved to EUR -19.5M from EUR -22.1M.

• Passenger volumes held steady, but cargo volumes and sales declined; cost efficiency measures partially offset revenue pressure.

• The quarter was impacted by severe winter conditions, geopolitical tensions, and rising fuel prices.

Financial highlights

• Passenger-related revenue fell 2.0% to EUR 71.2M; cargo sales dropped 9.1% to EUR 12.9M.

• Operating expenses decreased 3.7% to EUR 76.6M, with other operating expenses down 7.6%.

• Net financial items improved to EUR -0.7M from EUR -4.0M year-over-year.

• Equity/assets ratio rose to 53.8% from 52.5% a year ago.

• Cash and cash equivalents at period end were EUR 28.7M, up from EUR 26.0M.

Outlook and guidance

• No full-year profit forecast provided due to heightened uncertainty in energy prices and market conditions.

• Previous guidance for profit before tax to be in line with or better than 2025 is withdrawn.