In the third quarter, Tallinna Sadam earned close to 32 million euros in sales revenue and close to 9 million euros in profit, adjusted EBITDA was 16 million euros. Sales revenue increased by +1.5%, profit by +54% and adjusted EBITDA by +17% compared to the last year. The revenue for nine months was 90 million euros, profit 19 million euros and adjusted EBITDA 45 million euros. The revenue of 9 months decreased by –1.4%, profit increased +27% and adjusted EBITDA increased +11%. In the third quarter, the vol ...

Core Viewpoint - Tallinna Sadam is hosting an investor conference webinar to present its unaudited Q3 2025 results, scheduled for November 10, 2025, with participation from key management members [1]. Company Overview - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, providing various services including passenger and freight transport [3]. - The company operates ferry services through its subsidiary OÜ TS Laevad and offers icebreaking and offshore services via its multifunctional vessel Botnica, chartered by OÜ TS Shipping [3]. - Additionally, Tallinna Sadam holds a stake in AS Green Marine, which specializes in waste management services [3]. Webinar Details - The webinar will be conducted in two languages: Estonian at 10:00 EET and English at 11:00 EET, accessible via Microsoft Teams [1]. - Key presentations will be made by Valdo Kalm, Chairman of the Management Board, and Andrus Ait, CFO, followed by a Q&A session [1]. - Participants are encouraged to submit questions in advance due to time constraints [1].

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].

Group 1 - Tallinna Sadam initiated bankruptcy proceedings against MPG AgroProduction OÜ due to MPG's long-term failure to fulfill contractual obligations [1][2] - The bankruptcy process for MPG began on 28 November 2023, with subsequent reorganization attempts and a final bankruptcy declaration on 15 October 2024 [1] - MPG's appeal against the bankruptcy order was dismissed by the Tallinn Circuit Court on 9 September 2025, confirming the previous court's decision [1] Group 2 - Tallinna Sadam is a major player in the Baltic Sea region, operating one of the largest cargo and passenger port complexes [3] - The company provides various services, including ferry operations through its subsidiary OÜ TS Laevad and icebreaking and offshore services via OÜ TS Shipping [3] - Tallinna Sadam also holds a stake in AS Green Marine, which specializes in waste management services [3]

Core Viewpoint - Tallinna Sadam reported a decline in sales revenue and profit for the second quarter of 2025, but adjusted EBITDA showed growth, indicating operational efficiency despite challenges in certain segments [2][3][5]. Financial Performance - In Q2 2025, sales revenue was approximately €29.5 million, a decrease of 6.8% from €31.7 million in Q2 2024. For the first half of 2025, revenue totaled €57.9 million, down 2.9% from €59.6 million in the same period last year [7][10]. - Adjusted EBITDA for Q2 2025 increased by 6.7% year-on-year to €15.9 million, while for the first half, it rose by 8.0% to €29.8 million [7][11]. - Profit for Q2 2025 was €3.5 million, a decrease of 15.2% from €4.1 million in Q2 2024. However, net profit for the first half increased by 10.7% to €10.3 million [7][12]. Operational Highlights - The number of passengers grew by 3.8%, cargo volumes increased by 8%, and vessel calls rose by 2.1% in Q2 2025. The ferry segment experienced stable growth despite a slight decrease in trips [4][5]. - The chartering of the icebreaker Botnica saw a significant decline, with its utility rate dropping by 63% compared to the previous year [4][5]. Investment Activities - Total investments in the first half of 2025 amounted to €12.0 million, a decrease of €13.0 million from the previous year. In Q2 alone, investments were €8.4 million, up from €7.1 million in Q2 2024 [7][13]. Key Events - A subsidiary, OÜ TS Laevad, agreed to an additional 485 trips with the ferry Regula during the summer period, indicating a focus on enhancing service capacity [8]. - The company faced a legal resolution involving former management board members, which may impact its governance and operational focus [9]. Cash Flow and Financial Position - Cash flows from operating activities for the first half of 2025 were €26.4 million, compared to €25.2 million in the previous year. The company ended the period with cash and cash equivalents of €40.1 million [18]. - Total assets as of June 30, 2025, were €622.1 million, a slight decrease from €629.9 million at the end of 2024. Equity also decreased by 2.4% to €368.7 million [7][15].

Core Insights - Tallinna Sadam reported a sales revenue of approximately 30 million euros and a profit exceeding 3 million euros in Q2 2025, with total revenue for the first half of the year at 58 million euros and profit over 10 million euros [1][10] - The company experienced a decline in sales revenue by 7% and profit by 15% in Q2, while adjusted EBITDA increased by 7% year-on-year [2][9] - The number of passengers grew by 3.8%, cargo volumes increased by 8%, and vessel calls rose by 2.1% in Q2 2025, indicating stable growth in operational volumes [3][4] Financial Performance - Q2 2025 revenue was 29.5 million euros, down from 31.7 million euros in Q2 2024, representing a decrease of 6.8%. For the first half of 2025, revenue decreased by 2.9% to 57.9 million euros [6][8] - Adjusted EBITDA for Q2 2025 was 15.9 million euros, up from 14.9 million euros in Q2 2024, marking a 6.7% increase. The adjusted EBITDA margin improved to 53.8% from 47.0% [6][9] - Net profit for Q2 2025 was 3.5 million euros, a decrease of 15.2% compared to 4.1 million euros in Q2 2024. However, net profit for the first half of 2025 increased by 10.7% year-on-year to 10.3 million euros [10][14] Investment Activities - The company invested a total of 12 million euros in the first half of 2025, which is 13 million euros less than the previous year. In Q2 2025, investments amounted to 8.4 million euros [11][12] - Investments were primarily focused on the construction of an offshore wind quay, dry-docking of a ferry, and improvements in cargo harbours [11] Operational Highlights - The ferry segment showed stable growth, with a 2.4% increase in passenger numbers despite a 1.5% decrease in the number of trips [3][4] - The chartering of the icebreaker Botnica saw a significant decrease in utility rate, chartered only 22% of the time, which is 63% less than the previous year [3][4][10] - The company noted an increase in cruise vessel calls, positively impacting overall results despite the decline in sales revenue [4][10] Key Events - A subsidiary, OÜ TS Laevad, agreed to an additional 485 trips with the ferry Regula during the summer period [7] - A resolution from the Circuit Court was made regarding a criminal case involving former management board members of AS Tallinna Sadam [7]

Core Viewpoint - Tallinna Sadam is hosting an investor conference webinar to present its unaudited Q2 2025 results, scheduled for 11 August 2025 [1] Group 1: Webinar Details - The webinar will be conducted in two languages: Estonian at 10:00 (EET) and English at 11:00 (EET) [1] - The management board chairman Valdo Kalm and CFO Andrus Ait will present the results and address questions from participants [1] - Participants are encouraged to submit questions in advance due to time constraints [1] Group 2: Company Overview - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region [3] - The company operates ferry services between the Estonian mainland and its largest islands through its subsidiary OÜ TS Laevad [3] - OÜ TS Shipping, another subsidiary, 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 Tallinn Circuit Court partially annulled the Harju County Court's decision regarding the reclassification of allegations against Martin Paide and Toivo Promm, while maintaining that Ain Kaljurand and Allan Kiil were not public officials [1] - The Port of Tallinn and OÜ TS Laevad filed a cassation appeal against the decisions made by the Harju County Court and the Tallinn Circuit Court, seeking annulment of the reclassification of accusations and dismissal of civil action [2] - The management board of the company believes that the ongoing legal events will not materially affect the Group's financial performance or position [3] Group 2 - Tallinna Sadam is a major cargo and passenger port complex in the Baltic Sea region, providing various services including ferry operations and waste management through its subsidiaries [4]

Core Insights - Tallinna Sadam experienced positive growth in both cargo volumes and passenger numbers in Q2 2025 compared to the same period last year, with cargo volumes increasing by 8% and passenger numbers by 3.8% [1][2][3] Cargo Volume Analysis - Total cargo volume reached 3.5 million tons, with significant increases in liquid bulk (+115 thousand tons, +37%) and dry bulk (+163 thousand tons, +34%) [3][6] - Ro-ro cargo saw a decline of 6.1% [6] - The overall cargo volume increased from 3.2 million tons in Q2 2024 to 3.5 million tons in Q2 2025, marking a 7.8% increase [6] Passenger Traffic Insights - The number of passengers reached 2.2 million, with a notable increase of 4.3% on the Tallinn-Helsinki route, which celebrated its 60th anniversary [2][3] - Cruise passenger numbers surged by 25%, indicating a growing interest from international travelers, including those from China, the United States, and Japan [3][4] - The total number of passengers increased from 2.165 million in Q2 2024 to 2.247 million in Q2 2025 [6] Vessel Calls and Operations - The number of vessel calls increased by 2.1%, with cruise ships seeing a 46% rise in visits [4][6] - The number of trips for ferries decreased by 1.5%, while the number of passengers on ferries increased by 2.4% [4][8] - The icebreaker Botnica experienced a significant decline in charter days by 63% compared to the previous year [4][8] Summary of Key Figures - Preliminary operational volumes for Q2 2025 indicate a total of 1,841 vessel calls, with 373 cargo vessels and 1,427 passenger vessels [6][8] - The total number of vehicles transported increased by 3.4% [4][8] - The operational data for the first half of 2025 shows a slight overall increase in cargo and passenger volumes compared to the same period in 2024 [6]

Legal Proceedings - The Harju County Court terminated criminal proceedings against former management board members of AS Tallinna Sadam due to expiration of the limitation period, acknowledging participation in corrupt agreements but classifying them as private sector corruption [1] - The Tallinn Circuit Court partially annulled the Harju County Court's decision, agreeing with the prosecutor's office and victims that certain acts must be reclassified, but upheld that Ain Kaljurand and Allan Kiil were not public officials [2] Company Overview - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, providing passenger and freight services, and operating in shipping through subsidiaries [5] - Subsidiary OÜ TS Laevad offers ferry services between the Estonian mainland and islands, while OÜ TS Shipping charters the vessel Botnica for icebreaking and offshore services [5] Financial Impact - The management board believes that the legal events will not materially affect the Group's financial performance or position [4]