According to AS Tallink Grupp, the company earned 36 million euro of EBIDTA by the consolidated revenue of 245.2 million euro in second quarter of 2016 financial year. Compared to the year before, the number of transported passengers increased by 2.8% to 2.4 millions, the number of transported vehicles – by 3.8% and that of cargo units – by 7.3%.
In the second quarter the revenue of core operations increased from higher on-board sales which was supported by the larger number of passengers traveling with the group’s operated ships. In the second quarter the group’s total restaurants and shop sales increased by 3.6 million euro or by 2.7% YoY.
The unaudited net profit for the second quarter of the 2016 financial year was 9.8 million euro. The second quarter profitability was affected by lower revenue due to the change in revenue structure; by lower total fuel cost but also higher marketing costs, cost of charter of the fast ferry Superstar and higher ships operating costs.
The second quarter total revenue and operating result were lower compared to the same period last year mainly due to less revenue from chartering related to the sale of vessels Regina Baltica and Silja Festival and termination of cruise ferry Silja Europa charter. The fast ferry Superstar sale and charter back transaction affects the result of the current financial year. As a result of these operational changes, in the second quarter there were lower amortization and interest costs but higher operating costs compared to same period last year.
AS Tallink Grupp is one of the leading passenger shipping companies on the Baltic Sea, transporting up to 9 million passengers annually and employing almost 7000 people. There are 15 vessels in the fleet and the company operates 6 different routes. In the beginning of 2017, the company will launch the environmentally friendly, LNG-driven high-speed ferry Megastar on Tallinn-Helsinki route. (Portnews/Business World Magazine)
