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            october 21, 2019

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Scandlines: Impressive results in a challenging 2009


With a leaner, more efficient and customer-focused organisation, Scandlines is wellpositioned for growth. Stefan Sanne is intended to be appointed interim CEO due to Michael F. Hassing’s decision to assume a new position outside the company In 2009, Scandlines posted total revenues of EUR 505 million against EUR 582 million in
2008, down 13.3 per cent. However, recurring operating profit (EBITDA) of EUR 159 million showed an improvement against EUR 131 million in 2008.
“As predicted, 2009 was a very challenging year. Early on, activities were adjusted to the market conditions. The results are impressive considering the fact that the traffic in the Baltic Sea area was severely hit by the financial crisis. With a leaner, more efficient and customer-focused organisation, Scandlines is now well-positioned for an economic recovery,” says chairman of the Board, Jan Stenberg.
Lower demand in 2009 was most profound within the freight based network. The traffic machine routes were more robust but overall, they also revealed a decline compared with 2008.
The overall decrease in traffic in 2009 led to restructuring measures. During 2009, the equivalent of 340 full-time jobs were made redundant as part of the change programmes.
By the end of 2009, the recurring number of full-time employees totalled 2,000.
"We continue our focus on managing capacity in line with demand and to strengthen our competiveness even further. Today, we see signs of more stable demand. Thus for 2010, we anticipate a modestly positive net income", Jan Stenberg states.
Today, the Board announced that CEO Michael F. Hassing will be leaving the organisation before end of April to assume a new position outside the Scandlines Group.
“Since 2008, Michael F. Hassing has been a significant driver for bringing forward the new Scandlines. The results speak for themselves. I would like to thank him for the large effort and contributions he has made to the company”, says Jan Stenberg.
The Board has launched a search for a new CEO and Stefan Sanne, 49, is intended to be appointed interim CEO. Stefan Sanne was a cofounder of Allianz Capital Partners and managing director until the end of last year. He has served on the Advisory Board of Scandferries Holding GmbH and Scandlines GmbH since August 2007.

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