By | 2020 Newsletter week 9 | No Comments

AS Tallink Grupp Unaudited Consolidated Interim Report 2019

Key figures 2019

  • +0,06% passengers (record number 9,763,210 which is 6,599 more)
  • -1.4% cargo units
  • Revenue €949.1 million ( in 2018 it was €949.7 million)
  • EBITDA €171.1 million (142.8 million)
  • Net profit €49.7 million (€40.0 million)

In the 2019 financial year, the Group’s revenue and operating result were impacted by the following operational factors:

  • The number of passengers travelling on the Group’s ships increased in almost all geographical segments (Estonia-Finland, Finland-Sweden and Latvia-Sweden).
  • Planned dockings of seven ships. Among other ships, the maintenance and repair of cruise ferry BALTIC QUEEN lasted for 42 days, which affected the Estonia-Sweden segment’s Q1 volumes and financial result.
  • The competition on the maritime traffic between Estonia and Finland puts pressure on ticket and cargo prices.
  • Lowered alcohol excise tax in Estonia effective from 01 July 2019.
  • Lower bunkering prices from lower global prices and fuel price agreements.
  • Tight cost control, investments to vessels’ energy efficiency and automation projects.

Big Architectural Project for Historic Tallinn ‘City Hall Property’

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The City of Tallinn has signed an MOU with Tallink Grupp AS and one of Estonia’s largest investment groups and Tallink Grupp’s largest shareholder AS Infortar for the development of the abandoned Tallinn City Hall property into an international conference and concert centre together with an accompanying passenger port, hotel, business centre, restaurants, cafes and other leisure facilities.

An architectural competition will be launched. The estimated construction period of the new centre and adjoining buildings is three years from the point when all the necessary permits have been obtained and all the required contracts have been signed.

Competition On Finland – Sweden Is Tough (Part 1

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In its Q1 Interim Report, Tallink Grupp AS obviously experiences the same though competition as Viking Line, especially on the routes between Finland and Sweden. The competition has an influence on the ticket price.
The total number of passengers has declined 0,5%, only due to the decrease on Finland – Sweden (-9.9%). This route is also having lower figures for cargo (-15.6%) and cars (-16.3%). All other routes are seeing increases.

  • Revenue €184.2 million (€191.5 million) -3.9%
  • Gross profit €13.7 million (€14.09 million) -7.8%
  • EBITDA €4.2 million (€5.3 million) -20.3%