Tag: AS Tallink Grupp | Ferry Shipping News

The Supervisory Board of AS Tallink Grupp has appointed Peep Jalakas as Chairman of the Management Board. His three-year term will begin on 6 April 2026.

As of 27 February, Margus Schults steps down from the Group’s Management Board and will continue as CEO of Tallink Silja Oy in Finland.

Strategic Continuity

Supervisory Board Chairman Enn Pant said the appointment underlines Tallink’s ambition to:

• Continue strategic growth
• Strengthen competitiveness
• Create long-term shareholder value

Given Jalakas’ financial-sector background, Schults will return full-time to Finland, leading Tallink’s Finnish operations.

Incoming CEO Background

Peep Jalakas (born 18 May 1985) has been a Management Board member of AS SEB Pank and Head of Corporate Banking since 2023.

Over a 20-year career at the bank, he has held several leadership roles, including responsibility for corporate client and credit teams.

Jalakas described the move as both an honour and a responsibility, noting his prior cooperation with Tallink during his banking career.

Management Board Composition

Current CEO Paavo Nõgene, who announced his resignation last week, will remain on the Management Board until 22 May 2026 to support the transition.

Following Jalakas’ appointment, the Management Board will comprise:

• Peep Jalakas
• Piret Mürk-Dubout
• Elise Nassar
• Harri Hanschmidt

The leadership change signals continuity combined with a stronger financial governance focus as Tallink navigates a competitive regional ferry market.

AS Tallink Grupp has published its unaudited financial results for the 2025 financial year.

• Revenue EUR 765 million
• Loan and interest payments amounted to nearly EUR 113 million
• EBITDA EUR 130 million
• Net profit EUR 17.3 million
• Tallink Grupp and its subsidiaries contributed EUR 97 million in taxes to the Estonian state budget. An additional EUR 12 million worth of CO₂ allowances will be surrendered to the state for the previous year.
• At the end of the financial year, the Group operated 11 vessels, with three chartered out and additional three sold.
• The company plans to continue paying dividends in the current year.

Paavo Nõgene, CEO of AS Tallink Grupp:

• “Results were particularly affected by economic uncertainty in largest market, Finland.”
• “In Estonia, the lack of state support for the maritime sector further strains our business operations and places us at a competitive disadvantage compared to neighboring countries.”
• “The sale of three vessels supported cost‑base optimization. We have consistently reduced our debt burden and will continue to prioritize this going forward.”
• CONCLUSION: “Considering all circumstances, the year can be described as difficult but, with reservations, satisfactory.”

Statistics

• 5 million pax (-0.9%)
• 6 million pax on Estonia–Finland (+1.8%)
• 4 million pax on Finland–Sweden (-2.4%)
• 245,000 cargo units (-19.2%)
• 760,000 passenger vehicles (-2.2%)

Environmental

In 2025, shuttle vessels began bunkering biomethane.

CEO Nõgene hopes that sufficient fuel will remain available at a reasonable price. “We have already reached three‑quarters of our biomethane supply target.”

Click on the image to access the 2025 report

AS Tallink Grupp reported solid growth across all key segments in January 2026.

• Passengers: 337,926, up 12.6% year-on-year
• Cargo units: 22,411, an increase of 18.0%
• Passenger vehicles: 47,813, up 9.6%

The figures confirm a strong start to the year, with cargo growth again outpacing passenger volumes.

Click on link to see the source

AS Tallink Grupp transported 377,163 passengers in November 2025, up 1.9% year-on-year.
Cargo units fell 7.3% to 19,846, while passenger vehicles decreased 1.0% to 46,636.

Finland – Sweden

• Results include the Helsinki–Stockholm route (SILJA SERENADE and SILJA SYMPHONY).
• Also the Turku–Stockholm route (BALTIC PRINCESS).

Estonia – Finland

• Results include the shuttle vessels MYSTAR and MEGASTAR, and the cruise ferry VICTORIA I.
• MYSTAR was out of service for two days due to scheduled maintenance.

Estonia – Sweden

• Results include the Tallinn–Stockholm route (BALTIC QUEEN) and the Paldiski–Kapellskär route (SUPERFAST IX).

A year earlier, the Paldiski–Kapellskär route was operated by two cargo vessels: SAILOR and REGAL STAR

• Passengers: 595,529 (+5.9% vs August 2024)
• Cargo units: 19,518 (−11.1%)
• Passenger vehicles: 83,569 (+4.7%)

Source: Tallink

Air Corsica and CORSICA linea have launched a joint offer called Aria e Mare, allowing Corsican residents to combine air and sea travel in a single booking. Travellers can fly one way (Marseille or Nice–Corsica) and return by ferry (Marseille–Corsica), or vice versa.

The offer is tailored to resident needs and simplifies round trips between the island and the continent.

More info

Tallink transported 1.49 million passengers in Q2 2025 – a 2.5% increase year-on-year – signalling renewed trust and travel appetite. However, freight volumes dropped 22.8%, highlighting continued pressure in that segment.

Q2 Revenue: €207 million

EBITDA: €37.4 million

Net Loss: €2.5 million (incl. €11m dividend tax)

CEO Paavo Nõgene points to seasonality, reduced idle vessels, and strategic moves like the sale of STAR I and chartering of ROMANTIKA as positive signs for recovery.

Despite a challenging first half – with passenger volumes down 3.8% and a net loss of €35.7 million – investments in fleet renewal (€22m) and debt reduction signal a long-term commitment to resilience and shareholder value.

Maintenance of BALTIC PRINCESS and SILJA SERENADE accounted for 68 days out of service, part of the group’s strategy to extend asset life and improve passenger experience.

Tallink stays the course with a clear focus: optimising operations, reducing debt, and returning to profitability.