Tallink Grupp: Cargo Revenues Continued to Increase, But Overall Revenue for Q1 Was Down
The group reports an unaudited net loss of EUR 25.3 million (net loss of EUR 19.6 million in Q1 2018) and an unaudited total revenue for the quarter of EUR 178.9 million, which is a 2.9% decrease compared to the same period last year.
At the same time, the group’s cargo business continued to increase both in volume and revenue in the first quarter of 2019. The transported cargo volumes increased in total by 2.7%, the cargo revenues increased by 1.5% or EUR 0.4 million and amounted to EUR 29.6 million in the first quarter.
In the Q1 the group made significant investments into the upgrade of its existing fleet with EUR 25.3 million invested mainly into the technical dockings of seven vessels.
Paavo Nõgene, CEO of AS Tallink Grupp said: “The challenging period of dockings is now behind us. Our vessels are fresh, modern and ready to offer our customers new and memorable experiences. We are ready and prepared for the next two quarters of our annual high season and our whole team here at Tallink Grupp will work extremely hard to improve the results of the next months and quarters of 2019.”