April 25, 2025
Tallink Grupp published its unaudited Q1 financial results.
Key challenges:
- Low consumer and business confidence.
- Difficult economic environment in home markets.
- Ongoing global geopolitical tensions.
- Extended docking periods.
- Four idle vessels, significantly impacting results.
CEO Paavo Nõgene stated:
- Excluding the impact of idle vessels, results are comparable to Q1 2019.
- One idle vessel, passenger ferry STAR I, has been sold and handed over.
- Docking is also an investment in technology and customer experience.
- Positive feedback already for refreshed BALTIC PRINCESS.
- Preparing for high season with special cruises and surprises planned.
Key figures:
- Revenue: EUR 137.3 million.
- Net loss for the quarter: EUR 33.2 million.
- EBITDA: Negative EUR 3.8 million.
- Investments: EUR 13.3 million — mainly for refurbishing BALTIC PRINCESS and SILJA SERENADE.
- Loan repayments and interest: EUR 20.8 million in early 2025.
