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]