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Oct 11
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FERRY FINANCE

By | 2018 Newsletter week 41 | No Comments

Tallink Amends Group Dividend Policy And Intends To Reduce The Company’s Share Capital 

The Management Board of Tallink Grupp adopted a decision to supplement the Group’s dividend policy. With the decision the Group’s dividend strategy foresees the payment of dividends in the amount of 0.05 EUR per share going forward, the company’s financial results permitting.

In addition, the Group’s Supervisory Board gave the Group’s Management Board the instruction to prepare a proposal for the 2019 general shareholders’ meeting to reduce the company’s share capital by at least 7 cents per share. The aim of the reduction is to improve the company’s capital structure.

Aug 16
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Higher Fuel Prices Put Pressure On Tallink’s H1 Profits Despite The Increased Cargo

By | 2018 Newsletter week 33 | No Comments

Some highlights of Tallink Grupp’s half-year results for the period January 1 – June 30, 2018:

  • 6 million passengers (+0.8%), with most notable growth of 11.4% on the Latvia-Sweden route.
  • Cars 533,710 (+1.3%).
  • Steady increase of cargo transportation (+9.2%). The lion’s share was carried on the Estonia-Finland route: 122,914 cargo units (+10.4%). The most notable growth was on Latvia-Sweden, where a total of 7,832 cargo units were transported (+45.8%).
  • Sales revenue decreased (-2.6%), providing EUR 439.6m of unaudited revenue
  • Unaudited net loss EUR 4.3m (2.4m).

 

Challenges:

  • Increase in fuel prices.
  • The decline in the absolute number of passengers on the Tallinn-Helsinki route in Q2, although Tallink has managed to increase both passenger numbers and market share on this route as a result of investments.
  • The excise duty levels in place in Estonia have an impact on the results and affect the Estonian tourism and service sectors negatively as a whole.
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Jul 12
0

Tallink Installs Innovative Wireless Trackers On Vessels To Provide Passengers With Best Network Coverage On The Baltic Sea

By | 2018 Newsletter week 28 | No Comments

Tallink Grupp, in partnership with Swedish company Nowhere Networks have installed a Wireless Antenna Tracking Sytem (WATS) on board MEGASTAR. The tracker provides the ferry, operating on the Tallinn-Helsinki route, with a 400M/bit internet connection on board – the fastest and most stable internet connection currently available on the Baltic Sea.

With the new technology a high-speed connection is beamed to the shore by the tracker and the antenna re-aligns itself in real-time to maintain the highest speed at all times.