‘Tallink Grupp’: The results of our operations are difficult to grasp

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The September statistics in the cargo segment remained stable – the company’s vessels carried 32,672 cargo units on all current routes, which is 1% less than in September 2019, when 32,843 cargo units were transported.

At the same time, the number of passengers carried by the company fell sharply in September immediately after the introduction of travel restrictions in the company’s operating markets. During the month, the company’s vessels carried 243,215 passengers, which is 66% less than in September 2019 (718,354 passengers were carried in September 2019).

Compared to last year, the decrease in the number of passengers on various routes was from 56% Estonia – Finland on the line up to 91% Estonia – Sweden on the line.

The number of transported passenger vehicles also decreased by 25% in September – 62,138 vehicles were transported in September 2020 (compared to 83,089 vehicles transported in September 2019).

The statistics for the 3rd quarter of 2020 show a similar trend – the number of passengers decreased by 56% compared to the previous year, when 1,314,301 passengers were carried (2,974,790 passengers were carried in the 3rd quarter of 2019).

The number of transported cargo units decreased by 2% and totaled 91,578 units (93,329 units in the 3rd quarter of 2019). The number of transported passenger vehicles decreased by 22% to 275,735 units in the 3rd quarter of 2020 (353,725 units in the 3rd quarter of 2019).

Commenting on the results, Pāvo Negene, Chairman of the Board of Tallink Grupp, points out:

“It became clear in August that we would face new travel restrictions again in September, so the passenger figures for September turned out to be what we expected. The results are, of course, difficult to comprehend and certainly unsatisfactory for investors. Although our freight rates have remained stable throughout the crisis and is the only positive indicator for the last month and the whole quarter, but it is also clear that these results are being achieved at a high cost, as the success and sustainability of our business requires stable performance of both passengers and freight. number of units in segments.

As we approach the traditional “quiet” season with new travel restrictions, when a third of our fleet is temporarily suspended again, we continue to take all possible measures to limit and reduce costs. We are also constantly looking for and identifying additional potential ways to generate revenue so that we can respond quickly and find ways to support our business in these extremely difficult times. “

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