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AS Tallink Grupp, Stock Exchange Release
14.06.2006
Supplementary information for the Shareholders meeting
Overview of the business in 3rd quarter of 2005/06 financial year.
Key events:
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The acquisition of Superfast vessels operating between Finland and Germany;
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Starting operations between Riga and Stockholm;
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The sale of M/S AutoExpress;
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The delivery of M/S Galaxy;
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Chartering of M/S Fantaasia.
On the 21st of March 2006 AS Tallink Grupp contracted through some of its subsidiaries to buy from Attica Holdings S.A. three Ro-Pax vessels Superfast VII, Superfast VIII, and Superfast IX for a total cash consideration of 310 million EUR. Superfast VII and Superfast VIII, each with a purchase price of 103 million EUR were delivered on 10th of April. The third vessel Superfast IX was delivered shortly after. The ferries started operations on route Hanko – Paldiski and Paldiski – Rostock. After the agreements with Finnish Seamen’s Union, the route was changed to Hanko – Rostock in June 2006.
On the 6th of April 2006 M/S Fantaasia began regular ferry service on the Riga-Stockholm route.
On the 6th of April 2006 Tallink Fast Limited, a subsidiary company of AS Tallink Grupp, and Compania Trasmediterranea S.A. (Acciona Group) completed the sale of “M/S Tallink Autoexpress”. The vessel was sold at the price of 10.5 million EUR. The profit from the sale is not significantly material to the consolidated financial results of AS Tallink Grupp.
On the 10th of April 2006 Baltic SF VII Limited, Baltic SF VIII Limited and Baltic SF IX Limited, subsidiary companies of AS Tallink Grupp, signed the loan agreement with the syndicate of banks arranged by HSH Nordbank and KfW. The loan of 280 million EUR was signed to finance the purchase of three Superfast ferries. The loan consists of two main tranches of which the long term tranche of 240 million EUR has a maturity of 10 years and the short term tranche of 40 million EUR has a maturity of 2 years. During the current 2005/2006 financial year the loan repayments will amount to 6 million EUR. The EURIBOR based loan has a weighted average interest margin of 1.07%.
On the 18th of April 2006 Tallink’s new cruise vessel Galaxy was completed and delivered to Tallink. The ferry arrived to its new home port Tallinn in the 26th of April and started operating on Tallinn – Helsinki line few days after.
On 17th of May 2006 AS Tallink Grupp signed a charter party agreement with Compagnie Marocaine de Navigation of Morocco for the chartering of M/S Fantaasia from June to October 2006. As from 12th of May Regina Baltica continued the Riga–Stockholm line operations.
The following table illustrates the passengers, private cars and cargo units volumes in 3rd quarter:
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KEY FIGURES |
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Number of passengers |
Passenger vehicles |
Cargo units |
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Estonia- Finland line |
01.03.2006-31.05.2006 |
621 574 |
45 272 |
25 270 |
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01.03.2005-31.05.2005 |
604 380 |
41 301 |
22 000 |
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Estonia- Sweden line |
01.03.2006-31.05.2006 |
164 216 |
17 503 |
11 218 |
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01.03.2005-31.05.2005 |
171 554 |
16 358 |
12 574 |
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Estonia-Finland & Estonia-Sweden total |
01.03.2006-31.05.2006 |
785 790 |
62 775 |
36 488 |
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01.03.2005-31.05.2005 |
775 934 |
57 659 |
34 574 |
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Latvia- Sweden line |
01.03.2006-31.05.2006 |
29 185 |
3 047 |
549 |
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Germany line |
01.03.2006-31.05.2006 |
24 513 |
6 257 |
9 703 |
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Grand Total |
01.03.2006-31.05.2006 |
839 488 |
72 079 |
46 740 |
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01.03.2005-31.05.2005 |
775 934 |
57 659 |
34 574 |
Janek Stalmeister
Financial Director
AS Tallink Grupp
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