Viking Line Annual Report 2018 1 Annual Review Annual Review

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Viking Line Annual Report 2018 1 Annual Review Annual Review Annual Report 2018 Information to shareholders Annual General Meeting The Annual General Meeting of Viking Line Abp will be held at 12 noon on Contents Thursday, April 25, 2019 at the Alandica Kultur and Kongress auditorium, Strandgatan 33, Mariehamn, Åland, Finland. Shareholders who wish to participate in the meeting must notify the Information to shareholders . 1 Company’s Head Office in Mariehamn to this effect no later than 12 noon on Tuesday, April 23, 2019. Notification may be provided ANNUAL REVIEW l by e-mail to [email protected], This is Viking Line . 2 l by telephone to the Company’s Secretariat at +358 18 270 00, The year in brief . 4 l or by letter to Viking Line Abp, Pb 166, AX-22101 Mariehamn, Åland, Statement of the President and CEO . 6 Finland. Mission statement . 9 Shareholders whose shares have not been transferred to the Finnish Business review . 10 book-entry securities account system are also entitled to participate in the Annual General Meeting provided that the shareholder was recorded in the Company’s share register before March 12, 1999. In this case, at the SUSTAINABILITY meeting shareholders must present their share certificates or another Sustainability Report . 26 explanation as to why the ownership right to the shares has not been Viking Line is for everyone . 28 reported as a book-entry securities account. Cargo important for trade in Further information about the Annual General Meeting and relevant the Baltic Sea region . 30 documents pertaining to the meeting are published at Vikingline.com. Economic value . 32 Investor calendar Restitution to sustain domestic competitiveness . 34 Personnel . 36 Safety and security . 44 Apr 25, Apr 25, Aug 20, Oct 25, The environment . 46 2019 2019 2019 2019 Viking Line’s environmental journey . 60 Risks and opportunities . 63 Annual General Business Half-Year Business Meeting Review, Financial Report, Review, Jan-Mar 2019 Jan-Jun 2019 Jan-Sep 2019 CORPORATE GOVERNANCE Corporate governance statement . 64 Compensation statement . .. 71 Feb 13, Week of Week of 2019 Mar 2, Mar 16, FINANCIAL REVIEW 2020 2020 Report of the Directors . 72 Consolidated financial statements . 79 Year-End Report, Annual Report Annual Report 2019, Jan-Dec 2019 2019, electronic version printed version Parent company financial statements 103 (Swedish, Finnish (Swedish and Finnish) Signatures . 112 and English) Auditors’ Report . 113 Contact information . 117 The above financial reports are published in Swedish and translated into Finnish and English. The Year-End Report, the Half-Year Financial Report and the Business Reviews will be available on Vikingline.com at approximately 9 a.m. on each date. The Annual Report will also be available at the Head Office of Viking Line Abp and can be ordered by telephone at +358 18 277 67 or by e-mail at [email protected]. VIKING LINE ANNUAL REPORT 2018 1 ANNUAL REVIEW ANNUAL REVIEW Viking Line provides services on the Baltic Sea, with Finland, Sweden and the Baltic countries as its main markets. This is Viking Line Our vessels Mission We link together the countries around the northern Baltic Sea by providing sustainable and regular ferry service for M/S Amorella everyone. Our three basic services are cruises, passenger Finnish flag transport and cargo transport. Our unique expertise in Turku–Åland Islands–Stockholm combining these services generates customer and business benefits. Service area M/S Viking Cinderella Swedish flag Viking Line provides services on the Baltic Sea, with Finland, Stockholm–Mariehamn Sweden and the Baltic countries as its main markets. Our sales offices are located in Finland, Sweden, Estonia and Germany. The Group’s Head Office is located in Marie- hamn, Åland, Finland. M/S Gabriella Finnish flag Helsinki–Mariehamn–Stockholm Finland’s biggest maritime employer Viking Line is Finland’s biggest maritime employer. In all, more than 40 different occupational categories are employed on M/S Viking Grace a vessel in areas such as operation, Finnish flag maintenance, shops, kitchens, hotels, Turku–Åland Islands–Stockholm entertainment, conference facilities, security and healthcare. M/S Mariella Operating areas Finnish flag Viking Line’s operations include both pas- Helsinki–Mariehamn–Stockholm Nasdaq senger and cargo transport. The subsidiary Viking Line Buss Ab also provides bus trans- The parent company, port based in the Åland Islands. Viking Line Abp, has been listed on NASDAQ Helsinki since July 5, 1995. The share M/S Rosella capital is EUR 1,816,429.61 Finnish flag divided among 10,800,000 Environmental certification Mariehamn–Kapellskär shares of equal value that The Group’s Head Office, all vessels and the constitute one series. subsidiary Viking Line Buss Ab are certified in compliance with ISO 14001:2015 environ- mental management standards. M/S Viking XPRS Estonian flag Helsinki–Tallinn 2 VIKING LINE ANNUAL REPORT 2018 VIKING LINE ANNUAL REPORT 2018 3 ANNUAL REVIEW ANNUAL REVIEW NB 488 A The year in brief 63,000 gross tonnes 218 metres 2,800 passengers 1,500 cargo lane metres 922 cabins Ice class 1 A Super Passenger volume Turku–Åland Islands–Stockholm Stockholm–Mariehamn Helsinki–Mariehamn–Stockholm Finland/Sweden–Baltic countries Mariehamn–Kapellskär Viking Grace equipped with rotor sails Steel Cutting In April 2018, Viking Grace was the first passenger On September 3, construction work began on Viking vessel in the world to start using wind power with the Line’s new passenger vessel at the Chinese shipyard help of a mechanical rotor sail. The aim is to study XSI. In a traditional steel-cutting ceremony, the first Sales Income before taxes Investments Equity/assets ratio whether using this method will further reduce the components were cut from a sheet of steel. The vessel vessel’s energy consumption and exhaust emissions. will be one of the most climate-smart passenger vessels in the world. The newbuild project has entailed extensive planning and development work in order to create a vessel that represents a brand-new and unique generation of vessels. A number of Finnish and EUR EUR EUR other European suppliers have been hired in this work. 49 .4% The vessel will be placed in service on the Turku– 497 .8 M 6 .5 M 15 .9 M Mariehamn–Stockholm route in 2021. New organization During spring 2018, a change in Viking Line’s organizational structure was implemented, with the objective of focusing on results and commercial matters while simplifying Market share, passengers Market share, cargo Average number of empoyees Marknadsa assagerare Marknadsa assagerare MarknadsaMarknadsa assagerare akt Marknadsa akt MarknadsaAt nstäl akt al At nstäl al At nstäl al the Group’s way of working. A vessel manager with responsibility 32.4% 17.8% 634 for commercial operations was appointed for every vessel and they report directly to the CEO. 67.6% 82.2% 2,037 Viking Line Viking Line Land-based Others Others Shipboard Viking Line Club On February 17, 2017, Viking Line launched its updated Viking Line Club customer loyalty programme, enabling members to start collecting bonus points (so-called Passengers 6,411,537 Cargo units 128,549 In addition to the Group’s own Boats) on travel bookings and purchases on board. Starting in February 7, 2018, employees, Viking XPRS was crewed Boats could be used as a form of payment for all pre-bookings of both trips and by an average of 242 (248) people Cars 704,799 Buses 15,867 services on board. employed by a staffing company. 4 VIKING LINE ANNUAL REPORT 2018 VIKING LINE ANNUAL REPORT 2018 5 ANNUAL REVIEW ANNUAL REVIEW Statement of the President and CEO We develop operations to meet provide cheerful, good service to our customers. of payment for all pre-bookings of trips, car space, restau- passenger expectations We are spread out geographically, with opera tions in rants and spa treatments. We are pleased that we can offer Since we began service, 227 million Finland, the Åland Islands, Sweden, Estonia and Germany. our loyal customers this opportunity. passengers have chosen to travel on We have shipboard and land-based employees. In 2018, we our vessels, 22 million cars have driven had nearly 3,000 full-time employees including the Viking On the cutting edge of innovation over our car deck ramps and more XPRS crew. Working in different places and on different In April 2018, Viking Grace got an added boost when a new than 4 million cargo units have contri- vessels is a challenge but it also presents opportunities. We rotor sail was installed. It is the first hybrid vessel to use both buted to maintaining the infrastructure have a strong corporate culture and believe that people wind for propulsion with the help of a sail and liquefied between the three countries we serve. with different experiences and perspectives are vital to our natural gas (LNG) as fuel. Using the rotor sail enables a Through our continued efforts long-term business success. It is people who are the key to reduction in carbon dioxide emissions and fuel consumption, in operations, we shall maintain our success, and everyone’s efforts count. Our targets for sales, and the media have shown great interest in it, especially strong position in our service area. profitability and growth can only be achieved if capable interna tionally. The effects of the sail will be assessed after With a stronger digital presence and people are motivated to achieve them. one year in service. The intention is to install two sails on our accelerated work to meet customer new vessel. expectations, we shall develop our Results for the year operations. We also play an important Full-year results for 2018 were on a par with results for the Construction work on the new vessel has begun role in developing sustainable travel – a financial year 2017.
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