FY2026 · Season May – October · 34 routes · 21 ships · 18 ports

The coast runs
on time.

Between the first May tide and the last October swell, our ships carried 6,100,000 people along the Norwegian west coast. This report is told in crossings: the routes, the ships, the money, and what we put back into the sea.

Route stv–ksa · Stavanger–Kristiansand express · 06:12–09:04, eight services a day · M/S Norlys Fenn, the busiest crossing in the network.

Key figures at a glance

6 100 000

passengers carried, May–October 2026 +4.2% vs FY2025 (5 852 000)

Network: 34 routes · 18 ports; 11 express, 15 coastal, 8 fjord
Fleet: 21 ships · 12 battery; 4 LNG · 3 diesel–battery · 2 diesel
Revenue: NOK 4 512 m; +5.9% vs FY2025
EBITDA: NOK 641 m; 14.2% margin, +10.9%
Carbon intensity: 27.6 g CO₂e / pax-km; −16.4% vs FY2025
Distance: 1.20 bn passenger-km; average trip 196 km

The routes

Thirty-four lines across eighteen ports of the west coast. Select any route — on the map, in the table, or from the list — and every figure on this page follows it.

express coastal fjord port of call Click or press Enter on an arc to select · Esc clears

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The whole network

Passengers: 6 100 000
Share of network: 100%
Peak month: August
Distance: 196 km avg
Services / day: —
Ship: —

Passengers by month whole network, FY2026

Monthly passengers, FY2026, values update with the selected route
Month	May	Jun	Jul	Aug	Sep	Oct	Total
Passengers	967 120	1 047 110	1 162 710	1 216 550	1 001 210	705 300	6 100 000

Monthly boardings, FY2026. Updates when a route is selected.

Passengers by route and month, FY2026. Click a route name to select it.
Route	km direct	May	Jun	Jul	Aug	Sep	Oct	Total	Share
express	81	78 550	86 940	99 910	105 630	82 590	55 200	508 820	8.3%
express	792	71 460	73 660	82 560	86 570	70 720	46 170	431 140	7.1%
express	489	61 950	68 970	73 020	76 310	61 650	39 310	381 210	6.2%
express	61	53 910	59 580	66 240	68 890	53 780	36 400	338 800	5.6%
express	129	50 520	56 720	61 590	65 370	51 930	35 260	321 390	5.3%
express	197	48 060	52 420	58 790	59 160	48 130	29 790	296 350	4.9%
express	178	41 170	45 780	54 310	58 100	45 440	27 390	272 190	4.5%
coastal	51	41 760	42 950	50 350	52 240	41 400	32 750	261 450	4.3%
express	417	36 540	43 140	46 890	51 020	40 530	24 610	242 730	4.0%
express	117	34 300	38 710	44 970	45 930	35 940	22 960	222 810	3.7%
express	313	33 020	36 940	39 570	44 720	35 090	21 720	211 060	3.5%
coastal	31	28 860	32 490	34 590	35 790	31 760	24 160	187 650	3.1%
coastal	32	28 530	30 710	32 190	34 620	30 710	22 110	178 870	2.9%
coastal	129	26 090	27 540	30 620	31 020	25 700	20 710	161 680	2.7%
fjord	172	24 040	25 100	27 420	28 330	26 000	21 170	152 060	2.5%
coastal	97	22 350	24 160	28 130	29 540	25 120	18 180	147 480	2.4%
coastal	37	21 330	23 370	26 480	27 320	22 990	16 730	138 220	2.3%
coastal	64	21 100	23 040	25 770	25 900	21 290	16 460	133 560	2.2%
express	307	19 840	21 830	25 110	25 420	20 300	12 920	125 420	2.1%
fjord	96	19 720	21 560	22 100	23 170	20 210	17 010	123 770	2.0%
fjord	136	19 620	19 170	20 880	22 610	19 130	15 930	117 340	1.9%
fjord	103	17 140	18 750	20 480	21 360	19 280	15 510	112 520	1.8%
coastal	86	17 020	17 330	20 370	20 920	17 460	13 290	106 390	1.7%
fjord	102	17 010	16 480	18 040	18 870	17 690	13 940	102 030	1.7%
fjord	43	16 230	17 430	17 750	18 980	16 870	13 570	100 830	1.7%
fjord	47	15 410	15 450	17 320	18 430	15 530	13 480	95 620	1.6%
coastal	129	15 120	15 650	17 100	17 630	15 080	11 850	92 430	1.5%
fjord	84	14 370	15 260	15 650	17 010	15 830	12 150	90 270	1.5%
coastal	179	14 020	14 310	17 000	17 250	13 890	10 900	87 370	1.4%
coastal	38	13 750	14 770	15 750	16 000	13 250	10 000	83 520	1.4%
coastal	51	11 830	13 580	14 430	14 390	12 400	9 880	76 510	1.3%
coastal	188	12 330	12 610	13 490	14 290	12 610	8 900	74 230	1.2%
coastal	43	10 930	11 290	12 960	13 260	11 620	8 230	68 290	1.1%
coastal	17	9 240	9 420	10 880	10 500	9 290	6 660	55 990	0.9%

The fleet

Twenty-one ships, four fuel types, one direction of travel. Filter by fuel, or click a number column to sort.

Showing 21 of 21 ships

Fleet register, 21 ships. Numeric columns can be sorted by clicking the header.
Ship				Fuel
Norlys Fenn	2021	142	1 300	battery hybrid
Norlys Havbris	2019	138	1 180	battery hybrid
Norlys Nordlys	2023	134	1 200	LNG
Norlys Solglimt	2024	128	1 050	battery hybrid
Norlys Vestbris	2022	131	1 120	LNG
Norlys Kvanng	2018	126	980	LNG
Norlys Fjell	2025	124	960	battery hybrid
Norlys Skjærgård	2020	118	880	battery hybrid
Norlys Rana	2017	121	940	LNG
Norlys Vær	2023	122	920	battery hybrid
Norlys Låg	2022	108	760	battery hybrid
Norlys Strå	2024	102	700	battery hybrid
Norlys Dyrholm	2016	106	720	diesel–battery
Norlys Nordhavn	2015	112	800	diesel–battery
Norlys Kvern	2023	114	820	battery hybrid
Norlys Sunde	2021	98	640	battery hybrid
Norlys Tind	2020	100	660	battery hybrid
Norlys Fyrr	2014	96	620	diesel–battery
Norlys Bre	2019	104	690	battery hybrid
Norlys Gamle	2003	92	560	conventional diesel
Norlys Sten	2009	94	580	conventional diesel

Three ships, one scale 4 px per metre · waterline common to all

The newest express ferry (top), the long-haul LNG vessel (middle), and the oldest ship still in service (bottom), drawn at one scale.

Dimensions of the three ships drawn above
Ship	LOA (m)	Beam (m)	Draft (m)	Service speed (km/h)
Norlys Fenn	142	23.5	4.2	52
Norlys Nordlys	134	22.0	4.5	48
Norlys Sten	94	18.0	3.5	34

Financials

Fiscal year in NOK millions, unaudited summary of the audited statements. Two comparison years are shown throughout.

Financial summary FY2024 to FY2026
Measure	FY2024	FY2025	FY2026	Δ 26 vs 25
Revenue	3 980	4 260	4 512	+5.9%
EBITDA	512	578	641	+10.9%
EBITDA margin	12.9%	13.6%	14.2%	+0.6 pp
Passengers	5 471 000	5 852 000	6 100 000	+4.2%
CO₂e per passenger-km	41.2 g	33.0 g	27.6 g	−16.4%

Revenue and EBITDANOK m, FY2024–26

Revenue and EBITDA by year, NOK million
Year	Revenue	EBITDA
FY2024	3 980	512
FY2025	4 260	578
FY2026	4 512	641

From revenue to EBITDAFY2026 bridge, NOK m

EBITDA build-up for FY2026, NOK million
Step	NOK m
Revenue	4 512
Crew	−1 430
Energy	−840
Harbours & wharves	−610
Maintenance	−991
EBITDA	641

Carbon intensityg CO₂e / pax-km, band is metering uncertainty

CO2e per passenger-kilometre by fiscal year with metering band, in grams
Year	g / pax-km	Band ±
FY2020	52.4	3.1
FY2021	48.1	2.8
FY2022	45.6	2.5
FY2023	43.2	2.2
FY2024	41.2	1.9
FY2025	33.0	1.5
FY2026	27.6	1.3

Sustainability

In FY2026 the network emitted 33 004 t CO₂ across 1.20 bn passenger-km, an intensity of 27.6 g per passenger-kilometre¹, down from 41.2 g in FY2024. The mix below is where that number lives.

Emissions by fuel typetonnes CO₂, FY2026

FY2026 emissions by fuel type, tonnes CO2
Fuel	t CO₂	g / pax-km	Share of pax-km
Battery hybrid	5 697	8.2	58%
LNG	13 126	54.8	20%
Conventional diesel	9 235	96.4	8%
Diesel–battery	4 946	29.5	14%

Battery ships carry the largest passenger share at a tenth of the diesel intensity.

Small multiples: emissions by monthstacked by fuel, tonnes CO₂

Summer volume and October’s fall both bend the month totals; the fuel mix holds.

Intensity = total tonnes ÷ total passenger-km. Passenger-km = route distance (chart-track geometry, factor 1.32 for ferry routing) times monthly boardings. ↩
g / pax-km factors are type-approval figures blended with onboard fuel metering; battery ships are metered at the harbour shore-power meter and carry the grid mix of the season. ↩
Distances are the same literal used for the route map, so the map, tables and this section can never disagree. ↩

From the chief executive

Helga Strand · Chief Executive Officer

Dear friends of the coast,

This report is long, so let me tell it in one crossing. On the first morning of May, at 06:12, M/S Norlys Fenn left the Stavanger quay with 1 298 people aboard and a two-hour, fifty-two-minute appointment to keep¹. She kept it, and she will keep it two thousand more times this season.

What has changed since I wrote the last letter is not the timetable. It is what the timetable costs. Twelve of our twenty-one ships now run on batteries, and the network’s emissions intensity fell to 27.6 grams of CO₂ per passenger-kilometre, down from 41.2 in 2024². The passengers did not have to pay for it: the fare level was flat, and every crossing is cheaper in carbon than the one three years ago. That is the strategy, and I would rather it stayed the whole story.

There is a part of the business we have not fixed. October is still thin, and the fjord routes still bend to the weather more than we would like. We would rather run fewer ships longer than chase the last ten percent of the autumn with diesel burn we do not need³.

The season carried a quieter change on the quay. The crew we certify for battery service now includes the children who grew up taking our ferries; we do not serve these towns, we belong to them, and that is the only moat this company has.

I should say one thing plainly, because the board chair will. She asked me whether we are safe. Yes. The season finished with no lost-time incidents, and the next two years will be spent making that word easier to say: redundancy in the charging infrastructure, a second crew per express vessel, and a standing review of every crossing over forty nautical miles.

Thank you for crossing with us. The sea keeps its own schedule. We have spent thirty years learning to keep it.

Helga Strand

Stavanger–Kristiansand express, route stv–ksa, the network’s busiest line at 508 820 boardings in FY2026. ↩
Method and scope as footnoted in the sustainability section above; the two figures are the same number. ↩
October carried 705 300 boardings, the thinnest month of the season, at 11.6% of the annual total. ↩

Governance and the board

The board endorses this report and the audited statements. FY2026 closed with a 14.2% EBITDA margin on NOK 4 512 m of revenue, the sixth consecutive year of dividend cover above 1.5×. Standing priorities for FY2027: completing the Sognefjord charging line, holding the network at or under 24 g CO₂e per passenger-km, and a second flat fare year.

Board of directors and chief executive, committees, attendance FY2026
Name	Role	Since	Committees	Board meetings
Sigrid Foss	Chair of the board	2017	Audit (chair)	6 / 6
Kjetil Bøe	Board member, deputy chair	2018	Safety & Environment	6 / 6
Ingrid Dahl	Board member	2021	Remuneration (chair)	5 / 6
Mats Eikeland	Board member	2020	Audit	6 / 6
Astrid Værne	Board member	2023	Safety & Environment (chair)	6 / 6
Jonas Løvlie	Employee board member	2022	Remuneration	5 / 6
Helga Strand	Chief executive officer	2019	—	6 / 6