FINANCE

By | 2019 newsletter week 19 | No Comments

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.”

FINANCE

By | 2019 Newsletter week 14 | No Comments

Tallink Grupp Publishes 2019 Q1 Passenger And Cargo Statistics

According to the figures published, the group transported

-3.9% passengers (1,855,772)

-3.7% cars (214,087)

+2.7% freight units (93,114)

Reason:

-2.8% less trips (2,234 trips against 2,299 in Q1 last year)

Six vessels have been going through various renewals and upgrades during planned dockings at shipyards in Poland, Lithuania and Finland.

Shipbuilding Contract Between Tallink Grupp And Rauma Marine Constructions Enters Into Force

By | 2019 Newsletter week 13 | No Comments

AS Tallink Grupp and Rauma Marine Constructions (RMC) recently signed the contract for the construction of a new LNG-powered shuttle ferry for the Tallinn-Helsinki route, which entered into force on 27 March.

Price: EUR 250 million.
Gross tonnage: 50,000
Speed: 27 knots

The delivery of the vessel is expected in January 2022.
The new shuttle ferry will also benefit from the recently signed cooperation agreement with Tallinn Technical University, the aim of which is to develop innovative Smart Car deck solutions for the group’s vessels to enhance the loading and unloading operations and make them compatible with the already existing Smart Port solutions at the Port of Tallinn.

According to the contract, 30% of the total cost will be paid during the construction period and the rest after the delivery of the vessel. AS Tallink Grupp plans to finance 70% of the new ship cost in 2022 by long-term loan, the loan terms will be concluded in the near future.

The ship in question was built in Italy by Cantiere Navale Visentini and delivered in 2011 to Caronte in bare boat charter and from 2013 sub-chartered out to Irish Ferries. The latter still operates the vessel today.

Tallink Grupp Appoints Ex Tallinn Airport CEO

By | 2019 Newsletter week 9 | No Comments

Tallink Grupp has made further changes to the membership of the group’s Management Board. Based on the recommendations from the Chairman of the Management Board of Tallink Grupp, Mr Paavo Nõgene, the Supervisory Board of the group appointed Mrs Piret Mürk-Dubout to the Management Board with effect from 15 April 2019.

Mrs Piret Mürk-Dubout has significant international experience in sales and marketing and corporate management, and is the former CEO of Tallinn Airport.

She will oversee the travel retail business, amongst others.

Ship-To-Ship LNG Bunkering To Come To The North-East Baltic Sea In 2020

By | 2018 Newsletter week 40 | No Comments

A contract between parent company of Eesti Gaas (Estonia’s leading energy company), and Damen Shipyards Group has been signed for the construction of the first of a series of short-sea LNG bunker vessels to operate in the Baltic Sea.

„We are pleased that Tallink Grupp’s pioneering step of selecting LNG as the fuel for its newest vessel MEGASTAR a few years ago, has now led to Eesti Gaas taking this important step and ordering a new bunker vessel, which will benefit all future vessels operating on LNG in this region,“ Tarvi-Carlos Tuulik, Head of Ship Management, Tallink Grupp AS said.

ATLANTIC VISION Charter Set To Be Extended Until November 2019

By | 2018 Newsletter week 26 | No Comments

Marine Atlantic, a Canadian Crown corporation, provides ferry services between the Island of Newfoundland and the Province of Nova Scotia. One of their ferries is the Tallink Grupp owned ATLANTIC VISION, which is on charter. The charter will be extended until November 2019. The company said it will continue to work with the Government of Canada regarding future fleet configuration.

Tallink Grupp To List Shares Also On Helsinki Stock Exchange

By | 2018 Newsletter week 21 | No Comments

AS Tallink Grupp has announced to the Tallinn Stock Exchange that it plans to undertake a secondary listing of the Company’s shares on the Nasdaq Helsinki Stock Exchange. The effective date for listing is estimated to be early autumn 2018.

Tallink Grupp’s shares will also continue to be listed on the Nasdaq Tallinn Stock Exchange.

“By listing shares on the Helsinki Stock Exchange we create additional opportunities for investors to make transactions with Tallink Grupp’s shares and enable people in Finland once again to contribute to the activities of the historic brand Silja Line as well as the wider Tallink Grupp,“ CEO Paavo Nõgene said.

Tallink Grupp Published The Audited Annual Report Of The 2017 Financial Year

By | 2018 Newsletter Week 17 | No Comments

The key highlights were the following:

  • All-time high annual passenger number and higher revenue
  • New LNG fast ferry MEGASTAR started shuttle service on the Tallinn – Helsinki route
  • New passenger terminal opened in Helsinki
  • Lower chartering revenues
  • Scheduled maintenance of five ships during the Q1 low season
  • Increased competition on the Tallinn – Helsinki route
  • Lower operating costs from the termination of the charter of fast ferry SUPERSTAR
  • Effects from the re-routing of vessels in December 2016
  • Renovated cruise ferry SILJA EUROPA returned to the Tallinn – Helsinki route
  • Two ships on the Riga – Stockholm route
  • Sale of two Superfast vessels in December 2017
  • Group-wide ship renovation programme continued