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Tag: Tallink Grupp | Ferry Shipping News

Oct 25
2

Tallink Grupp Publishes 2024 Q3 Results

By | 2024 Newsletter week 43 | No Comments

Q3

  • Passengers:
    Tallink Grupp carried 1,715,496 passengers in Q3 2024, a 3.4% decrease from 1,775,821 in Q3 2023.
  • Trips:
    The company operated 1,840 trips in Q3 2024, an increase of 131 trips compared to 1,709 trips in Q3 2023.
  • Revenue:
    Revenue for Q3 2024 was EUR 231.9 million, a 3.7% decline from EUR 240.7 million in Q3 2023.
  • EBITDA:
    EBITDA for Q3 2024 stood at EUR 68.4 million, down 16.7% from EUR 82.1 million in Q3 2023.
  • Net Profit:
    Q3 2024 net profit was EUR 36.8 million, a 24.4% decrease compared to EUR 48.7 million in Q3 2023.
  • Liquidity Buffer:
    At the end of Q3 2024, the company’s liquidity buffer amounted to EUR 107.6 million, compared to EUR 199 million at the end of Q3 2023.
  • Investments:
    Investments in Q3 2024 were EUR 5.6 million, down from EUR 6.1 million in Q3 2023.
  • Loan Repayments & Dividends:
    The company repaid loans worth EUR 27 million and made dividend payments of EUR 44.6 million in Q3 2024.

First Nine Months (1 January – 30 September 2024):

  • Revenue: EUR 602.3 million, a 6.1% decline from EUR 641.6 million in the same period in 2023.
  • EBITDA: EUR 149.5 million, down from EUR 177.7 million in 2023.
  • Net profit: EUR 45.5 million, down from EUR 76.7 million in 2023.

The financial result of the first 9 months of 2024 was impacted by the following factors:

  • Low consumer and business confidence in the home markets as well as mounting geopolitical tensions.
  • The number of vessels on charter dropped from 5 in the beginning of the year to 3 as at the end of the third quarter.
  • Sale of the cruise vessel Isabelle in the first quarter of 2024.
  • Two vessels in lay-up including the cruise vessel Romantika the charter agreement of which was prematurely terminated in September 2023 and MV Superfast IX (formerly Atlantic Vision) the charter agreement of which ended in May 2024.
  • Payment of dividends in the amount of EUR 44.6 million in the third quarter of 2024.
  • Income tax expense on dividends in the amount of EUR 9.2 million was recorded in the second quarter of 2024. In the third quarter of 2024, income tax on dividends was paid in the amount of EUR 4.9 million (EUR 4.3 million of the dividend tax expense was offset by prepaid income tax).
  • Repayment of long-term loans in the amount of EUR 59.5 million.

CEO’s Outlook (Paavo Nõgene):
Despite challenging market conditions and the fragile economic environment, Tallink Grupp’s third quarter results are strong. With two vessels suspended, the company has still managed to deliver confidence-inspiring results. The company remains lean and aims to reinstate its regular dividend payments in 2025, barring any unforeseen disruptions during the remainder of the year.

For a more detailed report: Tallink Newsroom

Oct 25
2

Tallink Grupp Signs Agreement To Extend Charter Of Vessel Galaxy I To The Netherlands

By | 2024 Newsletter week 43 | No Comments

Tallink Grupp has announced signing an agreement with Dutch company Slaapschepen Public BV for the extension of the charter contract for its vessel Galaxy I. The vessel has been chartered to the Netherlands since September 2022, and currently provides temporary accommodation for asylum seekers in Amsterdam. According to the new agreement, the charter of the vessel has been extended by another year from October 2024, with the possibility to extend the agreement by a further 6+6 months after that.

In addition to Galaxy I, the company’s vessel Silja Europa is currently also chartered to the Netherlands until the end of 2024, also providing accommodation for asylum seekers in the City of Rotterdam.

Photo Marko Stampehl.

Oct 04
2

Tallink Grupp publishes 2024 September and Q3 passenger and cargo transport statistics

By | 2024 Newsletter week 39 | No Comments

In September, Tallink Grupp transported a total of

404,143 passengers (+0.7%)

23,178 cargo units (-10.2%)

59,455 passenger cars (-3.5%)

In the third quarter, the company transported a total of

1,715,496 passengers (-3.4%)

66,865 cargo units (-11.7%)

250,810 passenger vehicles (-8.3%)

  • Tallink Grupp CEO, Paavo Nõgene, reflects on the current economic climate, noting that passenger numbers align with expectations considering low consumer confidence, increasing prices, and economic uncertainties.
  • September performed better than expected, but August’s results could have been improved.
  • A positive trend was observed with a rise in international passengers, particularly from Asian countries, despite domestic market pressures.
  • The CEO highlights that any positive developments in key export markets could improve the cargo transport segment.
May 03
1

Tallink Grupp delivers profit in Q1 2024

By | 2024 newsletter week 18 | No Comments

Q1 has a profit for the quarter that historically delivers a loss for the company due to tourism low season.

+147.4% net profit EUR 2.6 million

+6.3% consolidated revenue EUR 160.4 million

+27.2%  EBITDA EUR 34.5 million

The Q1 results were positively impacted by marginally increased passenger numbers in Q1 2024 compared to the same period last year, by ongoing charter contracts for four of the company’s vessels and the sale of company vessel Isabelle.

The company continues to maintain a strong liquidity buffer of EUR 123.9 million, combined in cash and unused credit lines.

Source: Tallink

Feb 23
1

Strong profit for Tallink Grupp in 2023

By | 2024 Newsletter week 08 | No Comments

Tallink Grupp reports a strong profit of EUR 78.9 million for the year (EUR 13.9 million in 2022). During the year, Tallink Grupp managed to continue the steady path of recovery from the last four years of crises.

  • +4.5% Passengers 5 705 600
  • +2.6% Passenger vehicles 840 881
  • -20.0% Cargo units 323 990
  • +8.3% unaudited consolidated revenue EUR 835.3 million
  • EBITDA also saw a significant increase to EUR 214.5 million (EUR 135.8 million in 2022).
  • Tallink Grupp’s total investments in 2023 amounted to EUR 28.1 million (EUR 203.3 million in 2022, mainly relating to the new shuttle vessel MyStar).
  • At the end of the 2023 financial year, the group’s total liquidity buffer (cash, cash equivalents and unused credit facilities) remained strong and amounted to EUR 116.9 million (EUR 249.9 million 31 December 2022).
  • During the financial year 2023, Tallink Grupp repaid loans in the total amount of EUR 487.6 million, which includes refinancing of loans in the amount of EUR 298.0 million.
  • Tallink Grupp and its subsidiaries contributed a total of EUR 76 million in various taxes to the state  of Estonia budget.
  • Tallink Grupp’s Management Board, with the approval of Tallink Grupp’s Supervisory Board, will propose paying a dividend of EUR 0.06 per share based on the 2023 financial results.
  • As at 31 December 2023 Tallink Grupp had 38 894 shareholders and FDR-holders, of which 30 563 on Tallinn Stock Exchange and 8 331 on Helsinki Stock Exchange.

Outlook by Tallink Grupp’s CEO Paavo Nõgene

“In 2024 we will continue to focus on maintaining profitability while balancing the high and increasing costs of fuels and other products and services and the addition of new costs for the business, such as the emissions costs arising from shipping being included in the ETS scheme from 1 January 2024. As the climate crisis intensifies alongside the economic and geopolitical tensions, we are also increasing our efforts of searching for new technologies and solutions to play our part in tackling climate change. In 2023 we trialled a number of new technologies on board our vessels, all aimed at increasing energy efficiencies and reducing fuel consumption and thus also our emissions, but even greater collaboration and innovation is urgently needed to make a bigger difference. This is also one of our priorities for 2024.

Full details here.

Photo: MyStar, Tallink Grupp. Photo by Raul Mee.

Dec 15
0

Tallink Grupp signs syndicate loan agreement, resulting in the repayment of the 100 million euro loans from KredEx and Nordic Investment Bank received in 2020

By | 2023 Newsletter week 50 | No Comments

Tallink Grupp signed the refinancing agreement of the company’s syndicated loan, as a result of which the company will repay several significant loans taken in recent years.

Tallink Grupp has consistently reduced the company’s debts in recent years, repaying various loans in the amount of 110 million euros in 2022 and in the amount of 175 million euros in 2023.

Nov 10
0

Baleària and Fred. Olsen Express Celebrate their Fifth Anniversary of Alliance

By | 2023 Newsletter week 45 | No Comments

Five years ago, Baleària and Fred. Olsen Express started to jointly operate a maritime connection between Huelva and the Islands of Gran Canaria and Tenerife.

Baleària and Fred. Olsen offer three weekly departures between the ports of Huelva, Las Palmas de Gran Canaria and Santa Cruz de Tenerife.

The shipping companies have continued to operate with Ro-Pax MARIE CURIE, one of Baleària’s new generation vessels.

Baleària’s Director of Operations and Operations, David Fernández, stressed that “the figures show that the alliance for these routes is a guarantee of excellence for customers, both from the point of view of passengers, and for cargo, with a reliable and efficient service with tight delivery times. A third weekly departure also proves the commitment to the Canary Islands and the strategic importance of this market for the shipping company.”