AS Tallink Grupp Unaudited Consolidated Interim Report for the Q4 and 12 months of 2025

Core Insights - AS Tallink Grupp reported a decrease in total revenue for the financial year 2025, amounting to EUR 765.3 million, down from EUR 785.8 million in 2024, reflecting a decline of EUR 20.5 million [3][4] - The Group's unaudited net profit for 2025 was EUR 17.3 million, a significant decrease from EUR 40.3 million in 2024, resulting in earnings per share of EUR 0.023 [13][28] - The Group's operational performance was affected by low consumer confidence, economic challenges in core markets, and geopolitical tensions [11][29] Financial Performance - The Group carried 5,531,132 passengers in 2025, a 0.9% decrease year-on-year, while cargo units transported decreased by 19.2% to 245,004 [2] - Revenue from route operations decreased by EUR 13.7 million to EUR 625.2 million compared to 2024, with a segment result of EUR 70.5 million, down from EUR 81.5 million [4] - The Group's gross profit for 2025 was EUR 143.2 million, down from EUR 153.6 million in 2024, while EBITDA decreased to EUR 130.1 million from EUR 175.2 million [8][9] Segment Analysis - Revenue from the Estonia-Finland route increased by EUR 1.7 million to EUR 314.5 million, despite a 20.0% decrease in cargo units transported [5] - The Finland-Sweden routes saw a revenue decrease of EUR 3.3 million to EUR 225.5 million, with a segment result of EUR 1.3 million, down from EUR 2.8 million [6] - Estonia-Sweden routes experienced a revenue decline of EUR 12.1 million to EUR 85.3 million, with a segment result loss of EUR 1.2 million [7] Investments and Capital Expenditures - The Group's capital investments in 2025 totaled EUR 33.0 million, primarily for maintenance and refurbishment of vessels [14][15] - Planned maintenance works totaled 73 days in 2025, compared to 20 days in 2024 [15] Financial Position - As of December 31, 2025, the Group's net debt was EUR 432.4 million, with a net debt to EBITDA ratio of 3.3 [16][30] - Cash and cash equivalents decreased to EUR 13.5 million from EUR 31.9 million at the end of September 2025 [16][17] Dividends - The Group paid a total dividend of EUR 44.6 million in 2025, amounting to EUR 0.06 per share, with payments made in two installments [19][20]