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During financial year 2007/2008 the revenues of the Estonian shipping company AS Tallink Grupp were 786, 8 million Euros, the net profit 20, 3 million Euros, according to the unaudited results.
According to the management report of AS Tallink Grupp, the financial year 2007/2008 was one of the busiest for AS Tallink Grupp. „Only just in one year we took delivery of two new vessels, made several changes in the route’s operations and launched new booking and check-in system. The start of the new 2008/2009 financial year is very good. Traffic volumes are indicating strong growth in autumn 2008 as an impact of the previous development“, said the management.
The Group’s revenues increased strongly on the newest Sweden-Latvia route and also on the Finland-Estonia route where the new Shuttle service is the main contributor.
The results were also influenced by the late delivery of the new cruise ferry Baltic Princess, significant increase of fuel costs and interest rates and difficulties during the launching phase of the new booking and check-in system.
The sales in the fourth quarter amounted to 237 million Euros and net profit for the quarter was 29.5 million Euros.
So far, besides the interest rate decrease in last summer, we do not notice other significant direct impact of the global financial crisis on Tallink’s operations. The Group’s loans are on average with 10 years maturity and are being paid back based on agreed repayment schedule served from the business cash flows. There will not be large bullet payments due before the year 2013.
In financial year 2006/2007 the groups revenues were 761 million Euros and the net profit was 67,1 million Euros.
AS Tallink Grupp transported 7 070 264 (+2,9 %) passengers in the financial year 2007/2008, the largest growth took place on company’s Latvia-Sweden (+39, 3%) and Estonia-Finland (+15,5%) routes. In 2007/2008 Tallink transported altogether 671 537 (+13,6 %) passenger vehicles and 331 149 (-8 %) cargo units.
The data about the unaudited financial results is available on the company’s webpage www.tallink.com and Tallinn Stock Exchange webpage www.baltic.omxgroup.com
AS Tallink Grupp is one of the leading passenger shipping companies in the Baltic Sea region The company’s fleet consists of 19 vessels and it operates on seven different shipping routes. Additionally the company operates a hotel network Tallink Hotels.
Additional information:
Luulea Lääne
Communication Director
AS Tallink Grupp
E-post: luulea.laane@tallink.ee
www.tallink.com
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