Estonia · Delayed Price · Currency is EUR AS Tallink Grupp Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue rose nearly 6% and net profit reached EUR 43.8m, while fuel and ETS costs held EBITDA slightly below last year. Net debt declined EUR 11m and liquidity remained above EUR 100m.
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Stable revenue and net profit were maintained despite higher fuel costs and a challenging demand environment, with EBITDA down 8% year-over-year. Deleveraging continued, liquidity remained strong, and dividend policy was upheld.
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Q1 2026 saw revenue rise 8.8% year-over-year, with improved passenger and cargo volumes and a positive EBITDA, though the quarter ended with a net loss of EUR 22 million. Management remains focused on profitability, growth, and fleet optimization, with dividend payments and debt reduction ongoing.
Fiscal Year 2025
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2025 saw modest profit despite economic headwinds, with EUR 765 million revenue and EUR 17 million net profit. Debt and depreciation were reduced through vessel sales, and a EUR 0.06 per share dividend is proposed, supported by a strong balance sheet and low investment needs.
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Q3 2025 delivered higher revenue and net profit, driven by strong summer passenger growth and fleet optimization. Cargo volumes declined but the negative trend is slowing, while cost efficiency and dividend payments remain priorities.
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Q2 2025 saw revenue of EUR 207 million, with higher passenger numbers but lower cargo and charter revenues, resulting in a net loss due to layup costs and dividend tax. Operational efficiency measures and vessel upgrades are ongoing, with expectations for improved results in the second half.
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Q1 2025 saw a 12% drop in passengers and negative EBITDA, driven by economic slowdown, idle vessels, and extended dockings. Revenue per passenger improved, and a major vessel renovation was completed. Equity ratio remains strong at 51%.
Fiscal Year 2024
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Revenue and EBITDA declined year-over-year amid weak demand and fewer chartered vessels, but strong deleveraging and cost control led to a €40 million net profit. Dividend of €0.06 per share proposed, with continued focus on vessel optimization and cautious outlook for 2025.
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Q3 2024 revenue and profit declined year-over-year due to lower passenger and cargo volumes, but cost control and higher cargo revenue per unit supported margins. Dividends resumed, debt reduced, and the outlook remains cautious amid weak economic conditions and high fuel costs.
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Q2 2024 revenue fell 8.5% year-over-year to €210 million, with EBITDA at €46.6 million and net profit at €6.1 million, impacted by lower charter income, fewer passengers, and a €9.2 million dividend tax. Net debt decreased, and dividend payments resumed.