The Latvian branch of Stena Line ferry operator worked with turnover of EUR 3.54 million in 2023, which is 6.5% more when compared to 2022. The company’s profits went up 2.6 times, reaching EUR 162 910, according to information from Firmas.lv.
Stena Line is an international group of companies engaged in passenger and cargo transports. In Latvia, international passenger and cargo transport services over the sea is performed by Stena Line LLC, which has offices in Ventspils and Liepaja.
The company’s annual management report indicates that last year the company provided support function services to the parent company. The additional services previously provided to the parent company by staffing one of the ferries of the Stena Line group were discontinued in February last year.
Last year the company started providing staffing services in the management and finance area for the group’s company in Latvia.
The company’s management notes that macroeconomic risks related to the Russian-Ukrainian war and western sanctions against Russia will remain this year. This is why it is impossible to predict how the situation will develop in the future. There is also the issue of economic uncertainty.
In 2024, the company will continue to work actively, helping the group to maintain its freight capacity, as well as to provide the necessary support services to the parent company.
Stena Line Latvia operated with turnover of EUR 3.325 million and profits of EUR 63 207 in 2022.
The company was founded in 2014 with base capital of EUR 100 000. Stena Line is owned by Danish Stena Rederi JSC.
Swedish shipping company Stena Line provides freight and passenger services in Northern Europe and the Mediterranean Sea – a total of 20 ferry routes. Including the company also provides transport services on the routes Ventspils-Nynäshamn (Sweden) and Liepaja-Travemünde (Germany).