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Avaldamise aeg 05 apr 2021 09:00:00 +0300
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Tallinna Sadam_annual_report_2020_ENG.pdf
Tallinna_Sadam_2020-12-31_ENG.zip
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Pealkiri Tallinna Sadam audited Annual Report 2020 and dividend proposal
Tekst
The supervisory board of AS Tallinna Sadam (hereinafter: "Tallinna Sadam")
approved the audited annual report for 2020 presented by the management board.
There are no differences in the audited financial results, compared to the 12-
month unaudited financial results disclosed on 26 February 2021.

In  2020, the  annual  revenue  of  Tallinna  Sadam  group was EUR 107.4 million
(-17.8%)  and adjusted EBITDA amounted to EUR 58.4 million (-21.4%). Despite the
pandemic,  the profit  for 2020 was  EUR 28.5 million  (-35.8%). Adjusted EBITDA
margin  decreased  by  2.5 percentage  points,  but  the  volume  of investments
increased to EUR 37.1 million (+26%).

According to Valdo Kalm, Chairman of the Management Board of Tallinna Sadam, the
negative  impact  of  the  pandemic  on  the  company's  financial  results  was
particularly  noticeable  in  the  Passenger  harnours  segment, but the overall
impact of the virus on the Group's finances was smaller than feared and the year
ended  with a strong profit given  the circumstances. ?The year 2020 proved that
the  business strategy with  diversified risks and  the contribution to the four
business  directions is justified. In a  situation where the business related to
passengers  decreased by almost  half, we are  able to meet  the expectations of
investors and continue with the promised dividend policy, i.e. pay at least 70%
of the previous year's profit for dividends," explained Kalm.

Kalm  says that the large drop in  the number of passengers has been compensated
by  the  highest  cargo  volume  of  the  last  five years, the sales revenue of
passenger  ferries and  icebreaker Botnica,  which have  all remained  at levels
comparable  to  2019. "The  resulting  stable  cash  flow  and confidence in the
recovery of the passenger business have also enabled us to continue investing in
passenger  services and infrastructure despite the crisis, especially in the Old
City  Harbour,  where  we  have  introduced  innovative environmentally friendly
solutions  such  as  automatic  mooring  and  on-shore  power supply. This year,
despite  the slump in the passenger  segment, several passenger service and real
estate  development  projects  in  the  Old  City  Harbour  will be completed or
continued, including the cruise terminal, the front square of the Terminal D and
the pedestrian bridge of the Admiralty Canal," added Kalm.

Please        also        see       Valdo       Kalm's       video       message
(https://portoftallinn.sharepoint.com/sites/Turundus/Avalik/Forms/AllItems.aspx?
id=%2Fsites%2FTurundus%2FAvalik%2FVideod%2FTulemused%202020%2FValdo%20Kalm%5Fpre
ssiteade%5Ftulemused%5Fsub%2Emp4&parent=%2Fsites%2FTurundus%2FAvalik%2FVideod%2F
Tulemused%202020&p=true&originalPath=aHR0cHM6Ly9wb3J0b2Z0YWxsaW5uLnNoYXJlcG9pbnQ
uY29tLzp2Oi9zL1R1cnVuZHVzL0VVQXQ0a3NLQXhOSnZ5S3FmZkNoZy1vQkF0ZmF5bERneFB5Y2FtZm1
qTEE3d0E_cnRpbWU9cXVSRW9KVFoyRWc).

Based  on the aforesaid and the dividend  policy approved by the general meeting
of  shareholders to  pay a  dividend at  least 70% of  the profits from 2021 and
forward,  the management board, with the approval of the supervisory board, will
propose  to the general meeting of shareholders  to pay a dividend of EUR 0.077
per share in 2021, totaling EUR 20.251 million.

Material  dates related  to the  payment of  dividends will  be disclosed in the
notice of the general meeting by the end of April the latest.

The  consolidated annual report of Tallinna  Sadam Group for 2020 is attached to
this   announcement   and  is  also  available  on  the  company's  website  at:
https://www.ts.ee/en/investor/annual-reports/.  For the  first time,  the annual
report  has  been  submitted  in  a  machine-readable  manner  (data  file named
Tallinna_Sadam_2020-12-31_ENG.zip) in  accordance with  the requirements  of the
European  Single  Electronic  Format  Regulatory  Technical Standard (ESEF RTS).
Inline                    XBRL                    viewer                    link
(https://eu.iriscarbon.com/Home/IxbrlViewer/6069d3281d08e21468954e79).

Tallinna  Sadam is one of the largest cargo- and passenger port complexes in the
Baltic  Sea region, which  serves annually 10 million  passengers and 20 million
tons  of  cargo  in  average.  In  addition  to  passenger and freight services,
Tallinna  Sadam group also operates in  shipping business via its subsidiaries -
OÜ  TS  Laevad  provides  ferry  services  between the Estonian mainland and the
largest  islands, and OÜ TS Shipping charters its multifunctional vessel Botnica
for  icebreaking  and  construction  services  in  Estonia and offshore projects
abroad.  Tallinna Sadam  group is  also a  shareholder of  an associate AS Green
Marine,  which provides  waste management  services. The  group's sales in 2020
totalled  EUR  107.4 million,  adjusted  EBITDA  EUR 58.4 million and profit EUR
28.5 million.

Additional information:

Marju Zirel
Head of Investor Relations
Tel. +372 5342 6591

m.zirel@ts.ee (mailto:m.zirel@ts.ee)