|
AS Tallink Grupp`s unaudited revenues in 2008/2009 financial year were 792 million Euros which is 0.8% increase compared to the 12 months in the previous financial year. Due to the increased depreciation and higher financial items the unaudited net loss for 2008/2009 financial year was 8.2 million Euros.
In the 4th quarter (June-August) of the 2008/2009 financial year the Group revenues increased by 18.6 million Euros or 8% compared to the 4th quarter of the previous financial year. The growth was resulted from the increased passenger operations which are at significantly higher volumes in the 4th quarter high season and hence the drop in the cargo revenues was not dominating.
According to AS Tallink Grupp the fourth quarter development assured that the fundamentals of the Group business model are strong. „Considering the overall weak macroeconomic situation the Group was still able to outperform its historical numbers in many areas. However, the management is not pleased with the Group’s 12 months total result in the 2008/2009 financial year. Despite that there have been improvements in some areas, the surrounding weak macroeconomic environment continues add uncertainties to Group’s operations. The focus is being kept on cost cuttings in the Group operations. The sales or charters of older vessels have high priority“announced the company in the stock exchange release.
EBITDA of 2008/2009 financial year was 133.1 million Euros (being 6% higher than in the 2007/2008 financial year. In the fourth quarter of 2008/2009 financial year the Group’s EBITDA reached 76.6 million Euros which is 51% or 24.9 million Euros year-on-year increase. The 4th quarter EBITDA margin increased to 29% from 21% year ago. The positive impact to the EBITDA improvement in the fourth quarter resulted largely from the lower fuel price and thereby 18 million Euros decreased fuel costs, but also from the different cost savings which the Group initiated during the past 12 months.
During the 12 months period the largest year-on-year sales growth of 29% was achieved in the Group’s newest Riga-Stockholm route reaching total of 45.2 million Euros. The sales increased also in the Finland-Estonia, Finland-Sweden, mainland and other segment. The majority of the sales increase in all segments happened during the fourth quarter. The year-on-year decrease in Finland-Germany route revenues continued due to the weak cargo transportation and past reduction of the capacity on the route.
The Group’s cargo sales decreased by 52 million Euros, mostly as a consequence of the weak macroeconomics globally.
AS Tallink Grupp is the leading passenger shipping company on the Baltic Sea owning 20 vessels and operating under brands of Tallink and Silja Line on seven different shipping routes. Tallink has 6800 employees in Estonia, Finland, Sweden, Latvia, Russia and Germany.
Additional information:
Janek Stalmeister
Board member
AS Tallink Grupp
E-mail: janek.stalmeister@tallink.ee
www.tallink.com |