Annual report 2012

The company’s 148th financial year was characterised by stable development and an improvement in profit in an environment in which both countries and companies were tested hard. The strong SEK means tough competition for the tourist industry in Sweden from destinations elsewhere and it is therefore very gratifying to see that Gotland remains attractive.

The company continued to concentrate its product tanker fleet on vessels with medium range by selling the small M/T Wisby Teak and receiving delivery of the larger sister vessels M/T Ami and M/T Alice, the latter in January 2013.

One of the company’s faithful servants, M/S Betancuria (formerly Thjelvar), was also sold during the year, to NLC Ferry OY. The vessel now bears the name Wasa Express and sails between Umeå and Vasa.

The product tanker market recovered in the latter part of the year. This also continued into 2013. The future of the product tanker market remains uncertain, although we can see a certain trend towards improved earnings in the last six months.
In 2012, the Gotland service saw an increase in travel outside the peak season. During the summer, travel decreased marginally. Over the entire year, the total number of passengers fell by 0.5% to 1,590,271. This was despite the increased competition from other destinations and the strong Swedish currency, which is a good indication of Gotland’s attractiveness.

The company’s most important issue in 2013 is the procurement for the Gotland service from February 2017 onwards. We believe that we are well placed to compete in the procurement.

During the year, the group began an investment in a new hotel complex in Visby, stage 2 of Visby HamnHotell. The hotel will be ready in summer 2013 and will have a total of 214 rooms, making it the biggest hotel on Gotland.

We have a successful financial year behind us. The company’s strategy, involving striving for low risk and good liquidity, which provide both good stamina and energy, contributed greatly to the stable development and improvement in profit in the current business climate.

Thank you very much to all employees for your hard work.