May 3, 2021
Tallink Grupp Publishes 2021 First Quarter Financial Results
- Net loss amounted to EUR 34.4 million (net loss of EUR 30.2 million in Q1 2020)
- -65.3% Revenue EUR 53.7 million
- EBITDA EUR -6.3 million (EUR -1.3 million)
- Despite the significant drop in revenue in Q1, Tallink managed to avoid as significant a decline in EBITDA. This is the result of significant efforts in cost control, increasing efficiencies and also the various support measures the company has been able to utilise.
- The company continues to maintain a strong liquidity buffer of EUR 96.4 million, combined in cash and unused credit lines.
- In addition, the company also has EUR 90.0 million of undrawn part of a working capital loan from Nordic Investment Bank.
- Major investments were all carried out in 2020, so the company expects the level of investments required for the rest of 2021 to remain low.
- Number of Tallink Grupp’s shareholders has continued to grow in these challenging times, reaching a total of 25702 shareholders to date = shareholders’ faith and trust.