Finnlines - Company Announcement

Finnlines has disposed of MS Finnhansa and MS Finnarrow

Helsinki, Finland, 2014-10-28 13:45 CET (GLOBE NEWSWIRE) -- Finnlines  Plc     
                                   Stock Exchange Release  28 October 2014 at
14:45 







FINNLINES HAS DISPOSED OF MS FINNHANSA AND MS FINNARROW





Finnlines Plc has sold MS Finnhansa to the Grimaldi Group at a market price of
EUR 30 million and Finnlines Plc's subsidiary has signed the sales agreement of
MS Euroferry Brindisi (MS Finnarrow) with an external party at a market price
of EUR 32.5 million. These actions, when concluded, will lead in Finnlines
Group to a cumulative additional cash-flow of EUR 62.5 million, gains on sales
of approximately EUR 3.5 million and an equity ratio improvement to around 40
per cent in the fourth quarter. 

The reason for the disposal of these two vessels was that the operative use of
both MS Finnhansa and MS Finnarrow has been unprofitable due to the existing
overcapacity in the market. 



These sales do not affect the provision of maritime liner services or the
service level offered to the customers. 







Finnlines Plc







Tom Pippingsköld                   Tapani Voionmaa

CFO                                       Group General Counsel







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About Finnlines
Finnlines is a leading shipping operator of ro-ro and passenger services in the
Baltic Sea and the North Sea. The Company is listed on the NASDAQ OMX Helsinki
Ltd and is a part of the Grimaldi Group, one of the world's largest operators
of ro-ro vessels and the largest operator of the Motorways of the Sea in Europe
for both passengers and freight. This affiliation enables Finnlines to offer
liner services to and from any destination in the Mediterranean, West Africa as
well as the Atlantic coast of both North and South America. 

www.finnlines.com