Estonian ferry operator “Tallink Grupp” last year, according to preliminary data, worked with a profit of 13.9 million euros, as opposed to a loss of 56.6 million euros in 2021, according to the financial report submitted by the company to the Tallinn Stock Exchange.
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At the same time, the turnover of the group in 2022 reached 771.4 million euros, which is 61.7% more than in 2021.
On the other hand, the preliminary profit before interest, taxes, depreciation and amortization deductions (EBITDA) last year was 135.8 million euros compared to 58.3 million euros in 2021.
In general, “Tallink Grupp” carried 5.462 million passengers last year, which is 84.4% more than in 2021. The number of transported cargo units increased by 11%.
At the beginning of last year, the activity of “Tallink” in all markets was affected by the restrictions imposed due to the Covid-19 pandemic, which were canceled in Finland and Sweden in February, and in Estonia – in mid-March. Also, the demand for ferry services was negatively affected by Russia’s invasion of Ukraine last year.
After the launch of the new high-speed ferry “MyStar” on the Tallinn-Helsinki route, the total number of ferries in use by “Tallink” has reached 15 since mid-December.
The group has three hotels in Tallinn, but the hotel in Riga has been closed since October 2020. This month, the company announced that “Tallink Hotel Riga”, closed due to the pandemic, is planned to open in mid-April.
The turnover of ferry services, which is the core business of the company, reached 629 million euros last year, while in 2021 the turnover in this segment was 236.4 million euros. On the other hand, the turnover of other segments, which include ship charter services, accommodation, Burger King restaurants and some retail activities, reached 147.4 million euros, which is 62.2 million euros more than in 2021.
Last year, “Tallink Grupp” invested 203.3 million euros, of which 176.7 million euros are related to the new ferry “MyStar”.
The published information also shows that in the fourth quarter of 2022, the turnover of “Tallink Grupp” reached 203.7 million euros, which is 22.2% more than in October-December 2021. In the last three months of the year, the group worked with a profit of 16.7 million euros, as opposed to a loss of 3.3 million euros in October-December 2021.
On December 31, “Tallink Grupp” had 4,904 employees, which is 119 more than a year ago.
“Tallink Grupp” carries out transportation by ferries in the Baltic Sea using the brands “Tallink” and “Silja Line”. The company’s shares are listed on the official list of the Tallinn Stock Exchange. The largest shareholder is the Estonian investment company “Infortar”, which owns 40% of the shares of “Tallink Grupp”.
