ANNUAL REPORT
– EXECUTIVE SUMMARY 2024
Bridging people & communities
Carsten Jensen
CEO
2024 was a seminal year for Nordic Ferry Infrastructure (NFI), marked by significant milestones and operational achievements. Our new vessels are leading the energy transition, delivering on our sustainability targets, and building exceptional momentum for the business. With a growing and integrated business, our position as a leading infrastructure operator in the Nordics is strong.
A leading pan-Nordic ferry infrastructure operator
Nordic Ferry Infrastructure is the leading owner and operator of a large and diversified route portfolio of essential transport infrastructure across Norway, Denmark and Sweden.
Through our primary brands, Molslinjen and Torghatten, we provide critical ferry and express boat infrastructure across a route network of floating bridges, connecting more than 25 million passengers annually to people and places important in their lives.
Key figures 2024
-
~3 200
Employees in the Nordic region
-
57
Routes throughout Norway, Sweden and Denmark
-
92
Vessels distributed across the Nordic countries
The year at a glance
HIGLIGHTS FROM 2024
Contracted six new zero-emission vessels, including the two largest hydrogen vessels in the world
Strengthened footprint in Sweden
Won 15 year concession contract to operate the Koster Islands routes in western Sweden
Harbour agreements
Molslinjen extended the contract with Port of Aarhus by 15 years until 2035
Recognitions
7 awards and recognitions for digitalization and innovation
Electric charging
Launched the world’s first onboard EV charging on Öresundslinjen
Tender wins
Torghatten wins 11 tenders and has a defense rate of 80%.
2024 performance summary
Pro-forma adjusted EBITDA
2022-2024 (BNOK)
Pro-forma revenues
2022-2024 (BNOK)
2024 delivered a revenue growth of 6% and an adjusted EBITDA growth of 5% vs 2023.
Healthy development of contract and traffic revenues in Torghatten, LNG CO2 compensation, sale of vessels, and strong cost performance in the Danish and Swedish operations were the main drivers behind the results.
OUR RESPONSIBILITY
Driving commitment
through sustainability
Sustainability lies at the core of our business model and strategy. We operate floating bridges that connect communities, ensuring seamless mobility for people in both remote and urban areas. Our primary focus is providing safe and efficient transport solutions across the Nordics, while continuously investing in new technologies to decarbonize our fleet.
The course is set, and our ambitions are high – we shall leave nothing behind but a trail of waves.
OUR PROGRESS
Our climate targets were validated by the Science Based Targets initiative (SBTi)
–
11% reduction in well-to-wake GHG emissions from our ferry operations, advancing towards our goal of 44% reduction by 2030 (from 2022)
Lost Time Incident Frequency (LTIF) of 6.16 in 2024, targeting LTIF of 5.7 by 2028
–
Strengthened governance through the creation of a Centre of Excellence to drive sustainability and advancing ESG priorities across the group
As the leading pan-Nordic ferry infrastructure operator, our mission is to bring people and communities together in a more sustainable way.
THE ROAD AHEAD
Strategy and
ambition
Since NFI was launched in 2023, we have worked systematically to consolidate and grow our position as the leading Nordic ferry infrastructure operator. We extract synergies from our pan-Nordic scale and transfer best practice capabilities between our companies while being a frontrunner in terms of safe and sustainable operations.
➊
Nordic platform and synergies
With a large and diversified route portfolio across several geographies, we are in a unique position to extract synergies from our Nordic platform. Since inception, NFI has benefited from the combined strength of the Danish and Norwegian ferry infrastructure and operations. Adding Øresundslinjen in Sweden further strengthened the platform.
➋
Safe and efficient operations
We enable safe and efficient mobility in the Nordics, connecting people and businesses with “floating bridges”. Safety always comes first, with zero critical incidents as our ambition. On our routes, there is a continuous focus on early detection of both health issues and potential safety concerns, both for employees and passengers. We believe in profitability without compromising marine safety.
➌
Green transition
We recognize today’s environmental challenges and that the maritime industry is key to accelerating the clean energy transition. As we continuously grow our business and route network, decarbonizing our vessels is a clear priority and at the very center of our sustainability activities.
NFI envisions operating a fleet that leaves nothing behind but a trail of waves. We want our ferries to be symbols of sustainability while bridging people and communities.
Our Businesses
-
![]()
Torghatten
Torghatten is one of Norway’s oldest transport companies, established in 1878. In 2024 Torghatten won a record number of concessions, and the vessel new-build and retrofit portfolio reached an all-time high – with the world’s two largest hydrogen-powered vessels as the crown jewels.
Strengthening the organizational setup of Torghatten, combined with cross-functional collaboration across the NFI operating companies has been a key enabler for the success.
Established
1878Number of vesssels / Ferry routes
74 vessels / 47 RoutesEmployees
1 618 -
![]()
Molslinjen
Molslinjen is an iconic and well-known Danish brand that has grown into the largest domestic ferry company in Denmark. Operating Denmark’s largest fleet of domestic vessels, Molslinjen links major population centers and connects several islands to the mainland.
A stronger performing company than ever before, Molslinjen sets new standards for innovation and digitalization. A continuous growth journey based on responsibility and sustainability.
Established
1963Number of vessels / Ferry Routes
18 vessels / 10 RoutesEmployees
1 608
ANNUAL REPORT 2024