Other publication
Financial and economic performance of Finnish seaports – restructuring and pandemic impacts
(Presentation at the IAME World Conference 2022)
Authors: Leviäkangas Pekka, Hussain Shahid, Paik Seong Mok, Ojala Lauri
Conference name: IAME World Conference
Publication year: 2022
In recent years, the COVID-19 pandemic has hit the Finnish ports as it has done all the ports around the globe. This paper provides an analysis on how the COVID-19 affected the financial and economic performance of Finnish port companies.
The port data comprised financial statement data from 18 seaports. The ports were categorized according to their ownership, size, and lines of business. Even if the ports’ turnover was definitely dropped because of pandemic, the ports were able to maintain their profitability, liquidity and solidity reasonably well. Some port features, such as type of traffic, contributed to ports’ financial resilience, whereas other factors, such as size, had lesser impact.