The Swedish shipping company Gotlandsbolaget came out of the first quarter of 2026 with a larger operating loss, where especially the Oslo route – Go Nordic Cruiseline – is putting pressure on the result.
The shipping company traditionally experiences a weak first quarter, but this year the loss has been worsened by increased depreciation on the upgraded ships – Nordic Pearl and Nordic Crown – on the Oslo–Copenhagen route as well as high project costs.
Revenue rose slightly to SEK 621.6 million from SEK 608.6 million the year before, while costs grew by approximately SEK 35 million to SEK 795.5 million. This resulted in an adjusted operating loss of SEK 192.7 million compared to SEK 177.3 million in the same period last year.
The net result ended with a loss of SEK 144.0 million – however an improvement compared to the loss of SEK 225.2 million the year before, partly as a result of positive currency effects.
It is especially the activities in Go Nordic Cruiseline, including the Oslo–Copenhagen route, that negatively affect earnings through higher depreciation. Conversely, Destination Gotland showed a more stable development, although passenger numbers fell slightly due to weather-related cancellations around New Year.
The company’s management also points out that new investments and expansion have been made, including the purchase of 30 percent of Nordic Ferry Infrastructure, which among other things owns Molslinjen, as well as the newbuild of the high-speed ferry Gotland Horizon X.
The result means that there is no prospect of a dividend to shareholders for 2025.
-emte
