Sales revenue of Tallinna Sadam in 2025 was 119 million euros. Adjusted EBITDA was close to 57 million euros and profit more than 22 million euros. Comparing to the preceding year sales revenue decreased slightly by –0.8% but adjusted EBITDA increased by +6% and profit by +17%. Sales revenue in the fourth quarter was more than 29 million euros, adjusted EBITDA was 11 million euros and profit 3.6 million euros. Comparing to the same period last year sales revenue increased by +1.3%, adjusted EBITDA decreased ...

Core Viewpoint - Tallinna Sadam is hosting an investor conference webinar to present its unaudited results for Q4 and the full year of 2025, scheduled for February 26, 2026 [1] Group 1: Webinar Details - The webinar will be conducted on the Microsoft Teams platform in two languages: Estonian at 10:00 EET and English at 11:00 EET [1] - The Chairman of the Management Board, Valdo Kalm, and the Head of Investor Relations, Angelika Annus, will present the results and address questions from participants [1] - Participants are encouraged to submit questions in advance due to time limitations [1] Group 2: Company Overview - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, providing both passenger and freight services [3] - The company operates in the shipping business through subsidiaries, including OÜ TS Laevad, which offers ferry services, and OÜ TS Shipping, which charters the multifunctional vessel Botnica for icebreaking and offshore services [3] - Tallinna Sadam is also a shareholder in AS Green Marine, which provides waste management services [3]

Group 1 - The new multifunctional quay at Paldiski South Port was completed with a total investment of 64 million euros, including 20 million euros co-financed by the European Commission through the EstMilMob military mobility project [1][2] - The quay is 310 meters long with a depth of 13.5 meters and includes a 10-hectare hinterland area, enabling immediate use for receiving components of onshore wind farms being built in Latvia [1][2] - The quay enhances the capacity for sea transport of goods and vehicles, positioning Tallinna Sadam as a key partner in the construction and maintenance of wind farms [2][3] Group 2 - The integrated environment created by the new quay and the industrial park at Paldiski South Harbour will facilitate production, storage, and logistics in a comprehensive center [3] - The first large-scale ship carrying components for the onshore wind farm is expected to arrive in February, indicating the quay's operational readiness [3] - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, also involved in ferry services and offshore projects through its subsidiaries [4]

Core Points - A passenger transport public service contract was signed between the Ministry of Regional Development and Agriculture and OÜ TS Laevad for a seven-year period starting on 1 October 2026 [1] - TS Laevad will operate passenger transport services on the Virtsu-Kuivastu and Rohuküla-Heltermaa ferry routes using four of its own ferries and one additional state-owned ferry [2] - An amendment to the agreement allows the ferry Regula, owned by TS Laevad, to be used instead of the state-owned ferry until 31 December 2028 [3] - Regula is expected to make up to 800 trips per year from 1 October 2026 to 31 December 2028, with the Ministry paying both a fixed and variable fee for its use [4] - The contract amendment is seen as beneficial for TS Laevad and investors of the Port of Tallinn, providing stable income and return on assets [5] - Tallinna Sadam operates one of the largest cargo and passenger port complexes in the Baltic Sea region, with subsidiaries involved in ferry services and shipping [5]

Core Insights - In Q4 2025, Tallinna Sadam experienced an increase in cargo volumes by +6% to 3.6 million tonnes and a +0.9% rise in passenger numbers to 1.9 million compared to Q4 2024, driven by liquid bulk and ro-ro services [1][5] - For the full year 2025, total cargo volume reached nearly 14 million tonnes, marking a +5.1% increase, while passenger numbers exceeded 8 million, up by +1.0% [2][5] - The Chairman of the Board, Valdo Kalm, expressed satisfaction with the operational results, highlighting growth in both cargo and passenger volumes, particularly in liquid bulk and cruise services [3] Cargo Volume Analysis - Q4 2025 cargo volume was 3,601 thousand tonnes, up 5.6% from 3,409 thousand tonnes in Q4 2024 [5] - The annual cargo volume for 2025 was 13,799 thousand tonnes, an increase of 5.1% from 13,134 thousand tonnes in 2024 [5] - Liquid bulk saw a significant increase of +87.9% in Q4 2025, reaching 641 thousand tonnes, while ro-ro volumes increased by +5.8% [5] Passenger Volume Analysis - The number of passengers in Q4 2025 was 1,874 thousand, a slight increase of 0.9% from 1,857 thousand in Q4 2024 [5] - For the full year 2025, passenger numbers totaled 8,284 thousand, reflecting a 1.0% increase from 8,201 thousand in 2024 [5] - The growth in cruise passengers was notable, with traditional cruise calls increasing by +107.8% in Q4 2025 compared to the previous year [5] Vessel Calls and Operations - The number of vessel calls in Q4 2025 decreased by -4.8% to 1,689, while the total for 2025 remained stable at 7,127 [5] - The number of charter days for the icebreaker Botnica decreased by -19% in 2025, with a utility rate of 49% [2][6] - The number of trips and passengers on ferries between the Estonian mainland and the islands increased, with a +4.5% rise in passengers to 498 thousand in Q4 2025 [6] Company Overview - Tallinna Sadam is a major cargo and passenger port complex in the Baltic Sea region, also involved in ferry services and icebreaking operations through its subsidiaries [8] - The company operates OÜ TS Laevad for ferry services and OÜ TS Shipping for icebreaking and offshore services, contributing to its diverse operational portfolio [8]

Group 1 - AS Tallinna Sadam initiated bankruptcy proceedings against MPG AgroProduction OÜ due to MPG's long-term failure to fulfill contractual obligations [1][2] - The Supreme Court terminated MPG's reorganization proceedings on 12 August 2024, and MPG was declared bankrupt on 15 October 2024 [1] - MPG's appeal against the bankruptcy order was dismissed by the Tallinn Circuit Court on 9 September 2025, upholding the previous court's decision [1] Group 2 - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, providing various services including ferry operations and shipping [4] - The group operates subsidiaries such as OÜ TS Laevad for ferry services and OÜ TS Shipping for icebreaking and offshore services [4] - Tallinna Sadam is also a shareholder in AS Green Marine, which offers waste management services [4]

Core Insights - The European Union has approved funding for the PoTOPS project, which aims to establish onshore power supply for cruise ships at the Port of Tallinn by 2030 [1][2]. Group 1: Project Overview - The PoTOPS project will last over three years and includes the construction of a power grid connection to the Elering main grid, a 110/10kV substation, and onshore power supply infrastructure [2]. - The estimated total cost of the PoTOPS project is €39.7 million, with up to 30% of the funding covered by the Connecting Europe Facility (CEF) Alternative Fuels Infrastructure measure [2]. Group 2: Environmental and Economic Impact - The establishment of onshore power supply is deemed crucial for the sustainability of cruise shipping, which is significant for the business of Tallinna Sadam and the broader tourism sector [3]. - The project aligns with the European Green Deal goals and aims for climate neutrality by 2050, following regulations on alternative fuels infrastructure and sustainable port activities [4]. Group 3: Company Background - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, also involved in ferry services and icebreaking operations through its subsidiaries [5].

Core Points - AS Tallinna Sadam plans to disclose its financial results and hold its annual general meeting according to a specific schedule in 2026 [1] - The company is one of the largest cargo and passenger port complexes in the Baltic Sea region, providing various services including ferry operations and shipping [2] Schedule of Financial Disclosures - The unaudited interim report for 2025 will be released on February 26, 2026 [1] - The audited annual report for 2025 and dividend proposal will be disclosed on April 2, 2026 [1] - The annual general meeting of shareholders is scheduled for April 28, 2026 [1] - Additional interim reports for Q1, Q2, and Q3 of 2026 will be published throughout the year [1] Company Operations - Tallinna Sadam operates ferry services between the Estonian mainland and its largest islands through its subsidiary OÜ TS Laevad [2] - The company also engages in shipping activities via its subsidiary OÜ TS Shipping, which charters the multifunctional vessel Botnica for icebreaking and offshore services [2] - Tallinna Sadam is a shareholder in AS Green Marine, which provides waste management services [2]

Group 1 - TS Shipping OÜ has recalled Damir Utorov from the Management Board effective from 30.11.2025, after he joined the company in May 2013 and served as a board member since July 2023 [1][2] - The Supervisory Board expressed gratitude for Utorov's contributions, particularly in chartering the multifunctional icebreaker Botnica and establishing international contacts [2] - TS Shipping is in the process of recruiting a new member for its Management Board, which currently consists of two members, including Chairman Vahur Ausmees [2] Group 2 - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, operating through subsidiaries that provide various shipping and ferry services [3] - OÜ TS Laevad offers ferry services between the Estonian mainland and its largest islands, while OÜ TS Shipping charters the icebreaker Botnica for icebreaking and offshore services [3] - The Tallinna Sadam group also holds a stake in AS Green Marine, which specializes in waste management services [3]

Core Insights - In Q3 2025, Tallinna Sadam experienced positive growth in both cargo volumes and passenger numbers, with cargo volumes increasing by 8% and passenger numbers by 1.4% compared to the same period last year [1][2]. Cargo Volume Analysis - Total cargo volume reached 3.4 million tonnes, with significant increases in dry bulk (up 46% to 789 thousand tonnes) and containers (up 4.3% to 542 thousand tonnes) [3][6]. - Liquid bulk cargo saw a slight decrease of 0.6%, while general cargo also experienced a minor decline of 0.7% [6]. Passenger Traffic Insights - The number of passengers reached 2.8 million, with notable increases on the Tallinn-Helsinki route (up 2.2%) and among cruise passengers (up 13%) [3][6]. - The overall number of vessel calls decreased by 1.6%, with cargo vessel visits down by 1.6% and passenger vessel visits down by 1.8% [3][6]. Ferry Operations - The number of vehicles transported on ferries increased by 2.4%, while the number of ferry trips saw a marginal increase of 0.1% [4][9]. - The icebreaker Botnica's charter days decreased by 20%, reflecting a decline in utilization rate from 27% to 22% [4][9]. Future Outlook - The Chairman of the Board indicated ongoing positive trends in operational volumes, particularly in the bulk cargo segment and passenger growth influenced by the Helsinki route and cruise tourism [2]. - The icebreaker Botnica is expected to continue its project-based work in Canadian waters into the fourth quarter [2].