July 26, 2024
Q2
- -5.8% passengers (1,451,768)
- -11.4% cars (209,760)
- +1.7% freight units (86,813)
Unaudited financial results:
- -8.5% Consolidated revenue EUR 210.0 million
- EBITDA EUR 46.6 million (EUR 68.5 million in Q2 2023)
- Net profit for the period was EUR 6.1 million (EUR 33.4 million in Q2 2023).
H1
- -1.4% passengers (2.6 million)
- Unaudited financial results:
- -7.6% revenue EUR 370.4 million.
- EBITDA EUR 81.1 million (EUR 95.6 million in January-June 2023).
- Net profit was EUR 8.7 million (EUR 28.0 million in January-June 2023).
Some background
Reduced charter revenues with 3 of the company’s vessels chartered out as at the end of the quarter (4 at the beginning of the quarter), compared to 7 vessels chartered out in the same period last year, meaning charter revenues in 2024 were significantly lower.
Two of the company’s vessels currently in lay-up (Romantika and Superfast IX, the charter contracts for which had ended), compared to no vessels in lay-up in Q2 2023.
Results were impacted by the income tax recorded on the dividends in the amount of EUR 9.2 million in the quarter.
Comments by CEO Paavo Nõgene
- Consumer confidence is showing no signs of improving.
- Geopolitics have an additional impact on Tallink’s region’s tourism development.
- Trying to find the best work opportunities for the two vessels currently in lay-up.
CLICK to read AS Tallink Grupp Unaudited Consolidated Interim Report Q2 2024