The Grimaldi Group has acquired the last minority shares of its Finnish subsidiary Finnlines, gaining control of 100% of the company.
On August 29, the Arbitral Tribunal appointed by the Chamber of Commerce in Helsinki
has set the fair redemption price for the shares of Finnlines at €18.00 ($20) per share. The arbitral award was issued in conclusion of the process of redemption of the minority shares by the Grimaldi Group.
The total number of shares of Finnlines, 100% owned by the Group Grimaldi, is 51,503,141, with a
market capitalisation of €927,056,538.
The top management of the Grimaldi Group decided to increase its controlling share in its
Finnish subsidiary, completing an acquisition process which started back in 2005, after
careful evaluation of several investment options.
While the economic crisis has strongly affected the maritime industry since 2008, during the last decade
Finnlines, thanks to the dedication of its top management and the assistance of its mother
company, managed to strengthen its operational and economic performance by rationalising
rotations, selling non-core assets, redelivering chartered tonnage, chartering out or selling
redundant vessels, increasing productivity and reducing fuel consumption. Beside nearly €1 billion
investment in newly built cutting-edge green fleet units, the company has invested €100 million in the last two years in environmental technology improvements to its fleet, like scrubbers, propulsion systems and reblading, and in “silicon paint” hull projects for better fuel economy. As a result, Finnlines now has the youngest, most modern and efficient fleet in the Baltic Sea.
On the financial front, Finnlines broke records quarter after quarter during the 2015 financial year,
and for the first semester of 2016 it registered an EBITDA of €64.7 million (+ 25.6 %) a post-deuctions result of €30.5 million (+ 85.9 %). These figures are a strong indication that the company has proactively
taken the right measures to consolidate its market position.
The performances of Finnlines have been awarded with several prizes and recognitions. In 2015,
the outstanding financial performance was recognized by the analysts of Marine Money
International in their annual publication of the best listed shipping companies, where Finnlines
ranked first in returns to shareholders performance. This year, Finnlines has been selected as one
of the ten finalists for the Ruban d’Honneur in the “Environmental & Corporate Sustainability”
category of European Business Awards. It was the sole representative of Finland in its category.
With one of the largest ro/ro and ro/pax fleets, Finnlines is the leading operator in ro/ro and
passenger transport in the Baltic and North Sea, offering an extensive network of motorways of the
sea between Belgium, Estonia, Finland, Germany, Spain, Sweden, The Netherlands, Poland, the
United Kingdom and Russia. In synergy with the Grimaldi Group, the Finnish company’s services
are connected to the whole Grimaldi network and to the US East Coast via Atlantic Container.