Market announcement
AS TALLINNA SADAM
LEI code
25490093MDYISEP1Y539
Size of the entity
Large group
Economic activities
Electricity, Gas, Steam and Air Conditioning Supply, Transportation and Storage
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
10331
Attachments
Submission date and time
10.05.2023 08:00:00
Content of announcement in Estonian
Title
ASi Tallinna Sadam 2023 I kvartali majandustulemused
Message
I kvartalis kasvas müügitulu 28,4 miljoni euroni (+6%) ja korrigeeritud EBITDA 13,6 miljoni euroni (+0,6%) ja kasum oli 5,7 miljonit eurot (-21%). Korrigeeritud EBITDA marginaal oli 48% ning investeeringute maht 1,5 mln eurot (-67%). Reisijate äris jätkus tugev kasv nii reisijate arvus kui reisilaevakülastustes, sh saavutasime laevakülastuste rekordi Tallinn-Helsingi liinil. Vedellasti ja puistlasti kaubamahud langesid seoses Vene päritolu kaubale kehtestatud sanktsioonidega, kuid selle majanduslik mõju oli oluliselt mahu langusest väiksem, kuna vähenes eelkõige madalama tasumääraga kauba maht. Laevanduses näitasid kasvu nii reisiparvlaevad kui jäämurdja Botnica. Teenuste hindade kasv ja palgasurve tõstsid tegevuskulusid, suurenesid ka finantskulud. Tallinna Sadama juhatus tutvustab kontserni finantstulemusi 10. mail veebiseminaridel, sh kell 13.00 toimub veebiseminar eesti keeles (link eestikeelsele seminarile (https://teams.microsoft.com/l/meetup- join/19%3ameeting_MzQ0ZmFiMTQtNjU3ZC00MTczLWFkZTQtNGUzZmU4NjFiZGNi%40thread.v2/0 ?context=%7B%22Tid%22%3A%223c572f71-c808-4685-aa00- 2ca59a11c7e2%22%2C%22Oid%22%3A%22a6492212-75ef-498f-8735-75f88c5d463a%22%2C%22Is BroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a)) ja kell 14.00 toimub seminar inglise keeles (link ingliskeelsele seminarile (https://teams.microsoft.com/l/meetup- join/19%3ameeting_MmNjMDVlOWItMWNjZS00NWYzLWFkMzctOTM1ODRhY2Y3NTAy%40thread.v2/0 ?context=%7B%22Tid%22%3A%223c572f71-c808-4685-aa00- 2ca59a11c7e2%22%2C%22Oid%22%3A%22a6492212-75ef-498f-8735-75f88c5d463a%22%2C%22Is BroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a)). Peamised finantsnäitajad (mln EUR): I kv 2023 I kv 2022 +/- % Müügitulu 28,4 26,8 1,6 6,1 Korrigeeritud EBITDA 13,6 13,5 0,1 0,6 Korrigeeritud EBITDA marginaal 47,8% 50,4% -2,6 - Ärikasum 6,8 7,2 -0,4 -5,8 Perioodi kasum 5,7 7,2 -1,5 -20,7 Investeeringud 1,5 4,7 -3,2 -67,2 31.03.2023 31.12.2022 +/- Varade maht 627,2 621,2 1,0% Intressi kandvad võlakohustused 184,4 187,4 -1,6% Muud kohustused 56,2 52,9 6,2% Omakapital 386,7 381,0 1,5% Aktsiate arv 263,0 263,0 0,0% Olulisemad sündmused I kvartalis: * Laevakülastuste rekord Tallinn-Helsingi liinil (1124 külastust, +21%) * Jäämurdja Botnica 2023. a suvetöö leping Baffinlandiga * Positiivne kohtuotsus SLK ja Väinamere Liinide kohtuvaidluse lõpetamiseks * MOU sõlmimine OÜga Utilitas Wind meretuuleparkide arendamiseks * Reisiterminali A arhitektuurivõistluse väljakuulutamine * TS Laevades alustas uus juhatuse liige Katrin Aron Müügitulu Müügitulu kasvas 2023. aasta I kvartalis 1,6 mln eurot ehk 6,1%. Kasvasid kõik tululiigid peale kaubatasude ja elektrienergia müügitulu. Enim kasvas tulu reisijatasudest 0,7 mln eurot ehk 47% seoses reisijate arvu kasvuga, mille mõju vähendas Vanasadama liinireisija tasumäära alandamine 10% alates eelmise aasta märtsist. Kaubatasu tulu langus (-9%) oli oluliselt väiksem kaubamahtude langusest (-31%), kuna vähenes eelkõige madalama tasumääraga kauba maht. Müügitulu kasvas reisisadamate, reisiparvlaevade ja muud segmendis, kaubasadamate segmendis oli langus tulenevalt mahtude vähenemisest 1,7 mln euro võrra. Reisisadamate segmendi müügitulu kasvas 2,0 mln eurot (33%) peamiselt laeva- ja reisijatasude tulu mõjul (vastavalt +1,0 mln ja +0,7 mln eurot) seoses laevakülastuste arvu ja reisijate arvu kasvuga. Kasvas ka renditulu (+0,2 mln eurot) nii uute täiendavate pindade lisandumisest kui suuremast tulust kruiisiterminalist. Tulu muudest teenustest kasvas eelkõige reklaamimüügi tulult. Kaubasadamate segmendi müügitulu langes 1,7 mln eurot (-18%) tulenevalt kaubamahtude ja laevakülastuste arvu vähenemisest. Enim langesid laevatasud (-1,0 mln eurot), elektrienergia müük (-0,4 mln eurot) ja kaubatasu (-0,2 mln eurot) tulud. Elektrienergia müügi tulusid vähendas nii elektrienergia hinna langus kui ka tarbimise vähenemine seoses väiksemate ärimahtudega. Reisiparvlaevade segmendis müügitulu kasvas 1,0 mln eurot (13%) peamiselt lepingulise tasu tõusuga tulenevalt Eesti kütuse-, tööjõu- ja tarbijahinna indeksitega tõusuga. Tulu suurendavalt mõjus ka teostatud reiside arvu kasv. Muu segmendi müügitulu kasvas 0,4 mln eurot (10%) seoses Transpordiametiga sõlmitud uue lepingu järgse kõrgema prahitasuga talvisel jäämurdehooajal, mis kehtib alates 2022. aasta detsembrist. EBITDA Korrigeeritud EBITDA kasvas 0,082 mln euro võrra, kuna tulud kasvasid rohkem kui kulud (ilma kulumita), samas kapitaliosaluse meetodil saadud kasum sidusettevõttest AS Green Marine vähenes. Segmentidest kasvas korrigeeritud EBITDA reisisadamate, reisiparvlaevade ja muud segmendis ning vähenes kaubasadamate segmendis. Korrigeeritud EBITDA marginaal langes 50,4%-lt 47,8%- le. Kasum Kasum enne tulumaksu langes 1,49 mln eurot (-20,7%) 5,7 mln euroni. Kasumiks kujunes samuti 5,7 mln eurot, mis oli 1,49 mln euro võrra vähem eelmise aasta võrdlusperioodi näitajast. Investeeringud 2023. aasta 3 kuuga investeeris kontsern 1,5 mln eurot ehk 3,2 mln eurot vähem kui eelmise aasta samal perioodil. 2023. aasta 3 kuu investeeringud olid peamiselt seotud Vanasadamas reisiterminali D ümbritseva välisruumi rekonstrueerimise lõpetamisega ja Muuga sadamas ro-ro kauba teenindusvõimsuse suurendamisega seotud investeeringutega . Lühendatud konsolideeritud finantsseisundi aruanne: tuhandetes eurodes 31.03.2023 31.12.2022 ---------------------------------------------------------------- VARAD Käibevara Raha ja raha ekvivalendid 51 957 44 387 Nõuded ostjate vastu ja muud nõuded 11 264 7 477 Lepingulised varad 215 0 Varud 735 749 Müügiootel põhivara 0 100 Käibevara kokku 64 171 52 713 Põhivara Investeeringud sidusettevõtetesse 2 138 2 099 Muud pikaajalised nõuded 303 303 Materiaalne põhivara 558 806 564 379 Immateriaalne põhivara 1 812 1 735 Põhivara kokku 563 059 568 516 ---------------------------------------------------------------- Varad kokku 627 230 621 229 ---------------------------------------------------------------- ---------------------------------------------------------------- KOHUSTISED Lühiajalised kohustised Võlakohustised 15 916 15 916 Eraldised 543 2 013 Sihtfinantseerimine 8 240 8 578 Maksuvõlad 1 044 1 060 Võlad tarnijatele ja muud võlad 8 984 9 770 Lepingulised kohustised 3 072 62 Lühiajalised kohustised kokku 37 799 37 399 ---------------------------------------------------------------- Pikaajalised kohustised Võlakohustised 168 482 171 482 Sihtfinantseerimine 32 905 30 156 Muud võlad 622 449 Lepingulised kohustised 745 767 Pikaajalised kohustised kokku 202 754 202 854 ---------------------------------------------------------------- Kohustised kokku 240 553 240 253 ---------------------------------------------------------------- OMAKAPITAL Aktsiakapital nimiväärtuses 263 000 263 000 Ülekurss 44 478 44 478 Kohustuslik reservkapital 22 115 22 115 Eelmiste perioodide jaotamata kasum 51 383 25 791 Perioodi kasum 5 701 25 592 ---------------------------------------------------------------- Omakapital kokku 386 677 380 976 ---------------------------------------------------------------- Kohustised ja omakapital kokku 627 230 621 229 ---------------------------------------------------------------- Lühendatud konsolideeritud kasumiaruanne tuhandetes eurodes I kv 2023 I kv 2022 -------------------------------------------------------------------- Müügitulu 28 405 26 771 Muud tulud 341 295 Tegevuskulud -9 145 -8 663 Tööjõukulud -5 621 -4 771 Põhivara kulum ja väärtuse langus -7 038 -6 287 Muud kulud -145 -128 Ärikasum 6 797 7 217 -------------------------------------------------------------------- Finantstulud ja -kulud Finantstulud 258 31 Finantskulud -1 393 -284 Finantstulud ja -kulud kokku -1 135 -253 -------------------------------------------------------------------- Kapitaliosaluse meetodil arvestatud kasum investeeringutelt sidusettevõttesse 39 227 Kasum enne tulumaksustamist 5 701 7 191 -------------------------------------------------------------------- Perioodi kasum 5 701 7 191 -------------------------------------------------------------------- sh emaettevõtja omanike osa perioodi kasumist 5 701 7 191 -------------------------------------------------------------------- -------------------------------------------------------------------- Tava ja lahjendatud puhaskasum aktsia kohta (eurodes) 0,02 0,03 Tava ja lahjendatud puhaskasum aktsia kohta - jätkuvad tegevused (eurodes) 0,02 0,03 -------------------------------------------------------------------- Lühendatud konsolideeritud rahavoogude aruanne: tuhandetes eurodes I kvartal 2023 I kvartal 2022 ------------------------------------------------------------------------------- Kaupade või teenuste müügist laekunud raha 32 199 31 849 Muude tulude eest laekunud raha 28 20 Maksed tarnijatele -13 307 -12 493 Maksed töötajatele ja töötajate eest -5 373 -4 359 Maksed muude kulude eest -148 -146 Äritegevusest laekunud raha 13 399 14 871 ------------------------------------------------------------------------------- Materiaalse põhivara soetamine -1 630 -5 318 Immateriaalse põhivara soetamine -176 -50 Materiaalse põhivara müük 0 28 Saadud intressid 242 1 Investeerimistegevuses kasutatud raha -1 564 -5 339 ------------------------------------------------------------------------------- Saadud laenude tagasimaksed -3 000 -3 000 Makstud intressid -1 263 -356 Muud finantseerimistegevusest tulenevad maksed -2 -2 ------------------------------------------------------------------------------- Finantseerimistegevuses(t) laekunud/kasutatud raha -4 265 -3 358 ------------------------------------------------------------------------------- RAHAVOOG KOKKU 7 570 6 174 ------------------------------------------------------------------------------- Raha ja raha ekvivalendid perioodi alguses 44 387 34 840 Raha ja raha ekvivalentide muutus 7 570 6 174 Raha ja raha ekvivalendid perioodi lõpus 51 957 41 014 ------------------------------------------------------------------------------- Tallinna Sadamale kuulub üks Läänemere suurimaid kauba- ja reisisadamate komplekse, mida läbib aastas keskmiselt 10 miljonit reisijat ja 20 miljonit tonni kaupa. Lisaks reisijate ja kaubavedude teenindamisele tegutseb ettevõte laevanduse ärivaldkonnas läbi oma tütarettevõtete - OÜ TS Laevad korraldab parvlaevaühendust Eesti mandri ja suursaarte vahel ning OÜ TS Shipping osutab multifunktsionaalse jäämurdjaga Botnica jäämurde ja konstruktsioonilaeva teenust Eestis ja offshore projektides. Tallinna Sadama gruppi kuulub ka jäätmekäitlusega tegelev sidusettevõte AS Green Marine. Lisainfo: Marju Zirel Investorsuhete juht Tel. +372 53 42 6591 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
AS Tallinna Sadam financial results for 2023 Q1
Message
In the first quarter, revenue increased to 28.4 million euros (+6%) and adjusted EBITDA to 13.6 million euros (+0.6%), and profit was 5.7 million euros (-21%). The adjusted EBITDA margin was 48% and the volume of investments 1.5 million euros (-67%). In the passenger business, strong growth continued both in the number of passengers and in passenger vessel calls, including a record for vessel calls on the Tallinn-Helsinki line. The cargo volumes of liquid bulk and dry bulk decreased due to the sanctions imposed on goods of Russian origin, but its economic impact was significantly smaller than the decrease in volume, as the volume of goods with a lower tariff rate decreased in particular. In shipping, both ferries and the icebreaker Botnica showed growth. Rising service prices and wage pressure increased operating costs, financial costs also increased. Tallinna Sadam management will present the financial results of the Group at a webinars on 10 May, including webinar in Estonian starting at 13.00 (EET) (link to EST webinar (https://teams.microsoft.com/l/meetup- join/19%3ameeting_MzQ0ZmFiMTQtNjU3ZC00MTczLWFkZTQtNGUzZmU4NjFiZGNi%40thread.v2/0 ?context=%7B%22Tid%22%3A%223c572f71-c808-4685-aa00- 2ca59a11c7e2%22%2C%22Oid%22%3A%22a6492212-75ef-498f-8735-75f88c5d463a%22%2C%22Is BroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a)) and webinar in English starting at 14.00 (EET) (link to ENG webinar (https://teams.microsoft.com/l/meetup- join/19%3ameeting_MmNjMDVlOWItMWNjZS00NWYzLWFkMzctOTM1ODRhY2Y3NTAy%40thread.v2/0 ?context=%7B%22Tid%22%3A%223c572f71-c808-4685-aa00- 2ca59a11c7e2%22%2C%22Oid%22%3A%22a6492212-75ef-498f-8735-75f88c5d463a%22%2C%22Is BroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a)). Key figures (in million EUR): Q1 2023 Q1 2022 +/- % Revenue 28.4 26.8 1,6 6.1 Adjusted EBITDA 13.6 13.5 0.1 0.6 Adjusted EBITDA margin 47.8% 50.4% -2.6 - Operating profit 6.8 7.2 -0.4 -5.8 Profit for the period 5.7 7.2 -1.5 -20.7 Investments 1.5 4.7 -3.2 -67.2 31.03.2023 31.12.2022 +/- Total assets 627.2 621.2 1.0% Interest bearing debt 184.4 187.4 -1.6% Other liabilities 56.2 52.9 6.2% Equity 386.7 381.0 1.5% Number of shares 263.0 263.0 0.0% Major events in Q1: * Record vessel calls on Tallinn-Helsinki line * Icebreaker Botnica contract with Baffinland for 2023 summer * Positive court ruling to end the legal dispute with SLK and Väinamere Lines * MOU with OÜ Utilitas Wind for the development of offshore wind farms * Announcement of the passenger terminal A architecture competition * Public discussion of sketch designs of the detail plans of Old City Harbour Revenue Revenue for the first quarter grew by EUR 1.6 million (+6.1%) year on year. All revenue streams showed growth, except cargo charges and sale of electricity. Passenger fee revenue grew the most, increasing by EUR 0.7 million (+47%) in connection with an increase in the number of passengers, the effect of which was lowered by a 10% reduction in the fee rate for passengers arriving at or departing from Old City Harbour on regularly operated ferry routes as from March 2022. Decline in cargo charges (-9%) was significantly lower than the decrease in cargo volumes (-31%) as volumes decreased mostly for cargo with lower charge rates. Revenue grew in the Passenger harbours segment, the Ferry segment and in the segment Other, but decreased in the Cargo harbours segment by EUR 1.7 million due to lower cargo volumes. The revenue of the Passenger harbours segment grew by EUR 2.0 million (33%) mainly through higher revenue from vessel dues and passenger fees (+EUR 1.0 million and +EUR 0.7 million, respectively), which increased due to growth in vessel calls and passenger numbers. Lease income grew (+EUR 0.2 million) due to the addition of new premises as well as higher income from the cruise terminal. Revenue from other services was mainly supported by revenue on the sale of advertising space. In the Cargo harbours segment, revenue decreased by EUR 1.7 million (-18%) due to a decline in cargo volumes and the number of vessel calls. Revenue from vessel dues (-EUR 1.0 million), electricity sales (-EUR 0.4 million) and cargo charges (-EUR 0.2 million) decreased the most. The decline in electricity sales revenue was attributable to both lower electricity prices and smaller consumption due to lower operating volumes. The revenue of the Ferry segment grew by EUR 1.0 million (13%), driven by a rise in the contractual fee rates (due to an increase in the Estonian fuel cost, employment cost and consumer price indices) and supported by a higher number of trips. The revenue of the segment Other grew by EUR 0.4 million (10%) in connection with a higher charter fee rate for the icebreaking season, which took effect in December 2022 under a new agreement signed with the Estonian Transport Administration. EBITDA Adjusted EBITDA grew by EUR 0.082 million because revenue growth exceeded growth in expenses excluding depreciation, amortisation and impairment, although profit on the investment in the equity-accounted associate AS Green Marine decreased. In terms of segments, adjusted EBITDA grew in the Passenger harbours segment, the Ferry segment and the segment Other and decreased in the Cargo harbours segment. Adjusted EBITDA margin declined from 50.4% to 47.8%. Profit Profit before tax decreased by EUR 1.49 million (-20.7%) to EUR 5.7 million. Net profit for the period was also EUR 5.7 million, EUR 1.49 million smaller than a year earlier. Investments The Group invested EUR 1.5 million in the first three months of 2023, EUR 3.2 million less than a year earlier. The largest investments were made in completing the reconstruction of the outdoor area around terminal D and increasing the capacity of Muuga Harbour to serve ro-ro cargo. Interim condensed consolidated statement of financial position: In thousands of euros 31 March 2023 31 December 2022 ----------------------------------------------------------------------- ASSETS Current assets Cash and cash equivalents 51 957 44 387 Trade and other receivables 11 264 7 477 Contract assets 215 0 Inventories 735 749 Non-current assets held for sale 0 100 ----------------------------------------------------------------------- Total current assets 64 171 52 713 ----------------------------------------------------------------------- Non-current assets Investments in associates 2 138 2 099 Other long-term receivables 303 303 Property, plant and equipment 558 806 564 379 Intangible assets 1 812 1 735 Total non-current assets 563 059 568 516 ----------------------------------------------------------------------- Total assets 627 230 621 229 ----------------------------------------------------------------------- LIABILITIES Current liabilities Loans and borrowings 15 916 15 916 Provisions 543 2 013 Government grants 8 240 8 578 Taxes payable 1 044 1 060 Trade and other payables 8 984 9 770 Contract liabilities 3 072 62 Total current liabilities 37 799 37 399 ----------------------------------------------------------------------- Non-current liabilities Loans and borrowings 168 482 171 482 Government grants 32 905 30 156 Other payables 622 449 Contract liabilities 745 767 Total non-current liabilities 202 754 202 854 ----------------------------------------------------------------------- Total liabilities 240 553 240 253 ----------------------------------------------------------------------- EQUITY Share capital at par value 263 000 263 000 Share premium 44 478 44 478 Statutory capital reserve 22 115 22 115 Retained earnings (prior periods) 51 383 25 791 Profit for the period 5 701 25 592 ----------------------------------------------------------------------- Total equity 386 677 380 976 ----------------------------------------------------------------------- Total liabilities and equity 627 230 621 229 ----------------------------------------------------------------------- Interim condensed consolidated statement of profit or loss: In thousands of euros Q1 2023 Q1 2022 ------------------------------------------------------------------------------- Revenue 28 405 26 771 Other income 341 295 Operating expenses -9 145 -8 663 Personnel expenses -5 621 -4 771 Depreciation, amortisation and impairment -7 038 -6 287 Other expenses -145 -128 Operating profit 6 797 7 217 ------------------------------------------------------------------------------- Finance income and costs Finance income 258 31 Finance costs -1 393 -284 Finance costs - net -1 135 -253 ------------------------------------------------------------------------------- Share of profit of an associate accounted for under the equity method 39 227 Profit before income tax 5 701 7 191 ------------------------------------------------------------------------------- Profit for the period 5 701 7 191 ------------------------------------------------------------------------------- Attributable to owners of the Parent 5 701 7 191 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Basic and diluted earnings per share (in euros) 0.02 0.03 Basic and diluted earnings per share - continuing operations (in euros) 0.02 0.03 ------------------------------------------------------------------------------- Interim condensed consolidated statement of cash flows: In thousands of euros Q1 2023 Q1 2022 --------------------------------------------------------------------------- Cash receipts from sale of goods and services 32 199 31 849 Cash receipts related to other income 28 20 Payments to suppliers -13 307 -12 493 Payments to and on behalf of employees -5 373 -4 359 Payments for other expenses -148 -146 Cash from operating activities 13 399 14 871 --------------------------------------------------------------------------- Purchases of property, plant and equipment -1 630 -5 318 Purchases of intangible assets -176 -50 Proceeds from sale of property, plant and equipment 0 28 Government grants received 242 1 Interest received -1 564 -5 339 Cash used in investing activities --------------------------------------------------------------------------- Repayments of loans received -3 000 -3 000 Interest paid -1 263 -356 Other payments related to financing activities -2 -2 Cash from/used in financing activities -4 265 -3 358 --------------------------------------------------------------------------- NET CASH FLOW 7 570 6 174 --------------------------------------------------------------------------- Cash and cash equivalents at beginning of the period 44 387 34 840 Change in cash and cash equivalents 7 570 6 174 Cash and cash equivalents at end of the period 51 957 41 014 --------------------------------------------------------------------------- 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. Additional information: Marju Zirel Head of Investor Relations Tel. +372 5342 6591 [email protected] (mailto:[email protected])