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

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.

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.

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.”

Tallink Grupp September and Q3, 2023 Statistics

By | 2023 Newsletter week 40 | No Comments


  • Passenger statistics continue to show post-crisis stabilising despite the continuing economic challenges and price hikes, with comparable routes and vessels showing year-on-year improvements.
  • More of “home market” customers return to the ships,
  • Gradual return and increase in the number of Asian passengers. The number of Asian passengers has almost doubled in Q3 this year compared to last year, with travellers from South Korea, India, China, Japan and Taiwan topping the Asian passenger charts between July and September.
  • The general economic situation in home markets is fragile, which is mostly evident in the cargo unit figures, but also has a wider impact on consumer behaviour.


“While the summer did not see huge price hikes that would have a significant impact on our business, September has already brought a rather rapid marine fuel price increase, which we will unfortunately have to continue to pass on to our customers through the fuel surcharge, which we monitor and review regularly.”

Paavo Nõgene, CEO of Tallink Grupp

AS Tallink Grupp Statistics for August 2023

By | 2023 Newsletter week 36 | No Comments

In August 2023 AS Tallink Grupp transported

576,455 passengers, which is a 4.4% decrease compared to August 2022.

The number of cargo units decreased by 26.0% to 26,281 units and the number of passenger vehicles by 2.6% to 86,794 units year-on-year.

FINLAND – SWEDEN (Helsinki-Stockholm and Turku-Stockholm)

The cruise ferry GALAXY I stopped operating on the Turku-Stockholm route in September 2022 due to a charter contract.

ESTONIA – FINLAND (Shuttle services of MYSTAR and MEGASTAR)

The cruise ferry SILJA EUROPA stopped operating on the Tallinn-Helsinki route in August 2022 due to a charter contract.

ESTONIA – SWEDEN (Tallinn-Stockholm and Paldiski-Kapellskär)

Tallink Grupp adds VICTORIA I to Tallinn-Helsinki route from 12 October 2023

By | 2023 Newsletter week 36 | No Comments

Tallink Grupp announced that it will bring back the popular cruise service to the Tallinn-Helsinki route and the company’s vessel VICTORIA I will start operating on the popular route between the two Nordic capitals from Thursday, 12 October 2023.

This means that the company is increasing its daily departures between the two capital cities again to pre-pandemic levels, offering 14 departures between Tallinn and Helsinki daily.

„Passenger numbers on the Tallinn-Helsinki route have shown steady growth and customer demand is there for the cruise product to return, so I am pleased that we are able to meet that demand.”

Paavo Nõgene, CEO of Tallink Grupp