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Italy’s Moby Group Reports Loss In 2018

Italy’s Moby Group reports loss in 2018

Italy’s Moby Group Reports Loss In 2018Source: Autorita’ di Sistema Portuale del Mar Ligure Occidentale

Genoa, Italy (PortSEurope) May 2, 2019 – Italy’s Moby Group recorded a loss of €62.6 million ($70.2 million) in 2018, versus a net profit of €23 million ($25.8 million) a year earlier.

Revenues fell slightly to €584.3 million ($654.8 million) last year, but the financial performance worsened due to the higher costs, the company said.

“The higher costs were mainly due to the increase in the price of the bunkering services, as well as the significant cost of the activities and new start-up lines that have produced significant operating results, but have inevitably affected the costs of the companies,” it noted.

Moby Lines S.p.A. is an Italian shipping company that operates ferries and cruise ferries between the Italian or French mainland and the islands of Elba, Sardinia and Corsica.

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