Aktsiaselts Infortar interim report for Q1 2025

Core Insights - Infortar, Estonia's largest investment holding company, reported a 20% increase in turnover for Q1 2025, reaching €447 million, with total assets nearly doubling to €2.6 billion and investments tripling to €22 million [1][14][17] - The consolidation of Tallink's results into Infortar's financial statements led to a net loss of €14.6 million for Q1 2025, primarily due to Tallink's seasonal losses and an income tax expense [2][16] - The company has diversified its operations across agriculture, industry, and services, becoming a market leader in each sector [3] Financial Performance - In Q1 2025, Infortar's sales revenue increased by €74.7 million compared to Q1 2024, largely due to the consolidation of Tallink Grupp [14] - The EBITDA for the maritime transport segment was negative at €-3.8 million, while the energy segment reported €31.8 million, and the real estate segment's EBITDA was €3.4 million [15] - The net profit attributable to Infortar's owners was €-4.5 million, a significant decline from a profit of €62.2 million in Q1 2024 [16] Sector Performance - The maritime transport segment faced challenges due to low consumer confidence and economic conditions in core markets, resulting in a loss of €33 million for Tallink in Q1 2025 [4][7] - The energy segment remained profitable despite a 19% decrease in natural gas consumption in the Finnish-Baltic region, attributed to an exceptionally warm winter [9][11] - The real estate segment experienced significant growth, expanding its portfolio by nearly 50% over the past year [5] Investment and Strategy - Infortar's total investments in Q1 2025 amounted to approximately €22 million, with a focus on expanding its agricultural sector presence [17] - The company maintains a strong balance sheet with free liquidity of €153 million, allowing for continued investment and adherence to its dividend policy [6][19] - Infortar operates in seven countries and has diversified its activities beyond its main sectors, including construction, agriculture, and mineral resources [24]