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Result 2011: Finnpilot’s turnover increased

20/03/2012
 

The first year as a limited company went better than expected due largely to growth in the volume of traffic. The turnover increased by close to five per cent and the operating profit was positive.

The company’s annual turnover was 36.2 million euro, which exceeded the 2010 turnover of the State Pilotage Enterprise by 1.6 million euro (2010: 34.6 million euro), and the budgeted turnover by 1.4 million euro (budget: 34.8 million euro). This represented a 4.7 per cent increase over the previous year.

The growth in the turnover was partly due to the five per cent increase in pilotage fees, effective as of the start of the year, and to the increase in the volume of traffic in the sea regions as a result of transports for the Baltic Sea gas pipeline. Cruise ship traffic also continued to be active during the summer months.

The 2011 operating profit was 0.9 million euro (2010: -0.6 million euro) and the result of the financial year was -0.2 million euro (2010: -0.6 million euro). The company’s financial standing and solvency remained fair throughout the entire year. The solvency ratio was 45.0 per cent (2010: 72.9 per cent) and the net debt-equity ratio was 38.8 per cent (2010: -20.1 per cent).

In 2011, the number of pilotage assignments was 30,062 for a combined distance of 580,049 nautical miles.
This signified a 2.3 per cent increase in the number of individual assignments as compared to 2010. The piloted nautical mileage rose by 1.0 per cent. In comparison to 2010, the requests for pilotage saw the greatest growth in the Saimaa region.

At the end of 2011, Finnpilot had a staff of 349 employees (2010: 352). A total of 29 employees were employed on a fixed term basis, which is equivalent to 8.3 per cent of the entire personnel (2010: 22 employees, 6.2 per cent).

The number of pilotage requests is expected to decrease during 2012. As of the start of the year, the company has implemented changes in the pricing system and adjustments to the fees in order to maintain the company’s service level.


Further information:

Matti Pajula, Managing Director, tel. +358 (0)40 044 9493
Timo Sirén, Economy Director, tel. +358 (0)40 145 9848

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