Due to the limited business opportunities in Paljassaare, AS Tallinna Sadam
(hereinafter: Tallinna Sadam) decided in 2017 to terminate operation and
management of Paljassaare harbour. At the same time, Tallinna Sadam started the
process of exiting the operation of the port and the gradual transfer of assets.
During 2020, Tallinna Sadam sold the quays and other properties of the
Paljassaare harbour, and in 2021 the utility networks and facilities and stopped
providing network services in Paljassaare. As a result of a long process, the
Transport Board satisfied the application of Tallinna Sadam and OÜ Hundipea and
carried out the change of port authority, according to which OÜ Hundipea will be
the port authority of Paljassaare harbour from 10.08.2022. Tallinna Sadam is no
longer the port authority of the Paljassaare harbour and no longer provides port
services there.
Termination of port management and provision of port services in Paljassaare
will not have a significant impact on the financial results of Tallinna Sadam,
as the assets related to the Paljassaare harbour have already been transferred
over the past few years. After the transfer of the assets, Tallinna Sadam
continued to operate the Paljassaare harbour as port authority in the interest
of the public and to ensure the continuous operation of the Paljassaare harbour
until the approval of the new port authority by the Transport Board, providing
only some port services and enabling the use of aquatory of the Paljassaare
harbour.
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 2021
totalled EUR 110 million, adjusted EBITDA EUR 54 million and profit EUR 26
million.
Additional information:
Marju Zirel
Head of Investor Relations
Tel. +372 5342 6591
m.zirel@ts.ee (mailto:m.zirel@ts.ee)
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