Aktsiaselts Infortar Unaudited Consolidated Interim Report for third quarter of 2025

Core Insights - Infortar reported a significant growth in sales volume, with a 33% increase in Q3 2025, reaching €468 million, and a consolidated revenue of €1.42 billion for the first nine months of 2025, compared to €925.6 million in the same period of 2024 [1][12] - The company achieved an EBITDA of €105 million in Q3 2025, with a net profit of €72 million, reflecting strong performance across all business segments [1][11] - Infortar's subsidiaries, Tallink and Elenger, contributed to the overall growth, with Tallink increasing passenger numbers and Elenger expanding its market share to 30% in Finland and the Baltic region [2][6] Financial Performance - Q3 2025 sales revenue was €467.7 million, up from €349.5 million in Q3 2024, while the gross profit increased to €95.8 million from €40.7 million [9][19] - The EBITDA margin improved to 22.4% in Q3 2025 from 12.0% in Q3 2024, indicating enhanced profitability [11] - Consolidated net profit for the first nine months of 2025 was €57.8 million, a decrease from €187.3 million in the same period of 2024, primarily due to a one-time profit from the Tallink acquisition in the previous year [15] Business Segments - The maritime transport segment reported an EBITDA of €102.5 million for the first nine months of 2025, while the energy segment's EBITDA was €76.5 million, showing a slight decline from the previous year [13][14] - In the real estate segment, EBITDA remained stable at €11 million for the first nine months of 2025 [14] - Tallink transported 1,766,335 passengers and 60,306 cargo units in Q3 2025, demonstrating strong adaptability and financial stability [5] Sustainability Initiatives - Tallink's new shuttle vessel, MyStar, began using bio-LNG fuel in Q3 2025, aiming for a full transition to bio-LNG for both MyStar and Megastar [3] - The share of locally produced biomethane in Estonia's gas consumption has grown to nearly 10%, enhancing energy independence [4] Infrastructure Development - Ongoing construction projects include Rimi's logistics center and the new Pärnu bridge, with the latter introducing innovative engineering solutions [7] - The construction of Rail Baltica's mainline is progressing, with a contract value of €67.2 million, expected to continue until March 2028 [8]