Svitzer Group A/S revised earnings guidance for the year 2024. The company adjusts its financial outlook for 2024. Revenue is now expected to grow by around 6.0% to 7.5%, measured in constant exchange rates (previously 3.5% to 5.0%).

The adjustment of the financial outlook is driven by developments during the first part of 2024 that are expected to continue having a positive impact in the remaining part of the year. The average towage service tariffs have increased more than anticipated to offset high inflationary pressure and continued high fuel prices. This is a main growth driver for revenue.

Further, during 2023, Svitzer secured contracts for a number of vessels within terminal towage. These operations have become effective slightly earlier than anticipated impacting financial results positively in 2024.