Aktsiaselts Infortar Unaudited Consolidated Interim Report for fourth quarter and 12 months of 2025

Core Insights - Infortar reported a significant increase in sales revenue and EBITDA for the year 2025, with sales revenue rising by over one third to EUR 1.837 billion and EBITDA increasing by 60% to EUR 233 million [1][11][12]. Financial Performance - The Group's total assets reached EUR 2.588 billion, with equity amounting to EUR 1.178 billion and net profit of EUR 72 million [1][15]. - Loan liabilities decreased by one sixth to EUR 1.060 billion, while net debt declined by one fifth to EUR 841 million [1][16]. - The consolidated net profit for 2025 was EUR 71.969 million, down from EUR 193.670 million in 2024, but underlying profitability improved when excluding one-off gains from the previous year [15][23]. Business Segments - The maritime transport segment faced challenges, with Tallink carrying 1.3 million passengers, a decrease of 0.3% year-over-year [6]. - The energy segment, represented by Elenger Grupp, sold 4.8 TWh of energy in Q4 2025, with a market share of 21% [7]. - The real estate segment continued construction projects, including a EUR 67.2 million contract for Rail Baltica and a commercial space for Depo [8]. Investment Strategy - Infortar's investments in agriculture, including the acquisition of Estonian dairy farms, are seen as a strategic move to balance the portfolio and support long-term growth [5]. - The company aims to diversify its risk and generate stable cash flows through active portfolio management across different sectors [4]. Dividends - The Management Board intends to propose a dividend of EUR 3.02 per share for the 2025 financial year, which includes a base dividend and additional dividends from Tallink [17].