Market announcement
AS INFORTAR
LEI code
549300LS1K5S7AWHV603
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
11368
Attachments
Submission date and time
05.08.2024 09:00:00
Content of announcement in Estonian
Title
Aktsiaseltsi Infortar 2024. aasta auditeerimata konsolideeritud teise kvartali tulemused
Message
Infortar korraldab täna kõikidele huvilistele 2. kvartali 2024 tulemusi
tutvustava veebiseminari. Veebiseminariga ühinemiseks palume kasutada järgmiseid
linke:
5. augustil kell 12.00 eestikeelne veebiseminar
(https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup-
join%2F19%3Ameeting_NDQ5Y2VhZTMtMDI2Zi00NTgxLWJhZDctZTdmZWJlM2JiN2Fj%40thread.v2
%2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32-
42128c4493be%2522%252C%2522Oid%2522%253A%252226d1c5dd-51b3-421e-a54d-
7d4596848888%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%2
53A%2522a%2522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup-
join&deeplinkId=155c6d3a-47aa-4889-bee3-
75e7d2056f7a&directDl=true&msLaunch=true&enableMobilePage=true&suppressPrompt=tr
ue)
5. augustil kell 14.00 ingliskeelne veebiseminar
(https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup-
join%2F19%3Ameeting_ZDcyM2FiODktMzhhZC00YmExLTk3YjItMGJkM2VlNzcxMjI0%40thread.v2
%2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32-
42128c4493be%2522%252C%2522Oid%2522%253A%252226d1c5dd-51b3-421e-a54d-
7d4596848888%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%2
53A%2522a%2522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup-
join&deeplinkId=389b61dd-d3f6-
43ec-838e-2a6cf1d81d89&directDl=true&msLaunch=true&enableMobilePage=true&suppres
sPrompt=true)
Infortari müügimahud kasvasid esimesel poolaastal 40 protsenti, ettevõtte
müügitulu ulatus 576 miljoni euroni ja puhakasum 73 miljoni euroni. Infortari
varade väärtus jõudis 1,5 miljardi euroni ja investeeringud 41 miljoni euroni.
"Oleme esimesel poolaastal Soome ja Balti energeetikaturul oma positsioone
kindlustanud, turgu juurde võtnud, müüki kasvatanud ja mahuteid järgmiseks
hooajaks täitnud - meie baasnäitajad on tugevad ja likviidsuspositsioon
soliidne, mis annab meile korraliku platvormi oma investeeringute jätkamiseks,"
märkis Infortari juhatuse esimees Ain Hanschmidt.
"Infortari peamiste investeeringute tulemused on tugevalt seotud sesoonsusega -
energeetika näitab kõrgeid numbreid külmal perioodil, seevastu laevareisijate
arv on tipus suvel," lausus Hanschmidt.
Infortar investeeris käesoleva aasta esimesel poolaastal 41,3 miljonit eurot.
Ettevõte suurendas oma osalust Tallinkis 46,8 protsendini, soetas Pärnumaa
Halinga piimafarmi enamusosaluse ning avas Lätis Nicas päikesepargi. Fookuses
oli tegevuse laiendamine Poolas ja Saksamaal ning gaasi hulgiturule juurdepääsu
loomine Hollandis ja Belgias. RIMI logistikakeskuse ning Pärnu uue silla
ehitused on edenenud vastavalt graafikule.
Infortarile kuuluv Soome ja Balti piirkonna suurim erakapitalil energiafirma
Eesti Gaas (välisturgudel Elenger) suurendas müügimahtu võrreldes möödunud aasta
poolaastaga 40 protsenti, kokku 10 TWh-ni. Ettevõtte gaasimüügi turuosa Soome-
Balti turul ulatub 25,4 protsendini.
Tallinki reisijate arv Helsingi liinil on eelmise aastaga võrreldes kasvanud,
samas inimeste liikumine Soome ja Rootsi vahel jäi eelmise aasta sama perioodiga
mõnevõrra vähemaks. Juunis teatas Infortar Tallinki aktsionäridele
vabatahtlikust ülevõtmispakkumisest. Pakkumine on suunatud kõigile investoritele
ning toob turule täiendavat likviidsust, andes väljumisvõimaluse ka neile,
kellel tavaolukorras oleks börsil oma osalust keerulisem realiseerida.
Infortari omakapital ulatus käesoleva aasta 30. juuni seisuga 840 miljoni euroni
ja varade maht 1,5 miljardi euroni. Võrreldes möödunud aasta kuue kuu tulemusega
on Infortari EBITDA ja puhaskasum 11 miljoni euro võrra vähenenud, 2024 6 kuu
EBITDA oli 76 miljonit eurot ja kasum puhaskasum 73 miljonit eurot.
+-----------------------+-----------+-----------+---------------+--------------+
|Tähtsamad |6 kuud 2024|6 kuud 2023|2. kvartal 2024|2. kvartal |
|finantsnäitajad ja | | | |2023 |
|suhtarvud | | | | |
+-----------------------+-----------+-----------+---------------+--------------+
|Müügitulu (tuhandetes |576 139 |560 352 |203 555 |212 872 |
|eurodes) | | | | |
+-----------------------+-----------+-----------+---------------+--------------+
|Brutokasum (tuhandetes |53 089 |88 351 |3 085 |22 346 |
|eurodes) | | | | |
+-----------------------+-----------+-----------+---------------+--------------+
|EBITDA (tuhandetes |75 510 |86 571 |1 506 |34 011 |
|eurodes) | | | | |
+-----------------------+-----------+-----------+---------------+--------------+
|EBITDA marginaal (%) |13% |15% |0,7% |16% |
+-----------------------+-----------+-----------+---------------+--------------+
|Ärikasum (-kahjum) |63 395 |80 427 |-4 229 |30 748 |
|(EBIT) (tuhandetes | | | | |
|eurodes) | | | | |
+-----------------------+-----------+-----------+---------------+--------------+
|Aruandeaasta kasum/ |73 017 |83 683 |10 955 |36 906 |
|kahjum (tuhandetes | | | | |
|eurodes) | | | | |
+-----------------------+-----------+-----------+---------------+--------------+
|Puhaskasum aktsia kohta|3,6 |4,1 |0,5 |1,8 |
|(eurodes)* | | | | |
+-----------------------+-----------+-----------+---------------+--------------+
|Omakapital |840 216 |575 783 | | |
+-----------------------+-----------+-----------+---------------+--------------+
|Kohustised |448 387 |300 217 | | |
+-----------------------+-----------+-----------+---------------+--------------+
*Kasum aktsia kohta on arvutatud kõikidel esitatud perioodidel järgmise valemi
alusel: aruandeaasta emaettevõtte omanikele kuuluv kasum jagatud 30.06.2024
seisuga emiteeritud aktsiate arvuga (6 kuud 2024 = (72 893*1000) / (21
166 239-945 000)= 3,6 eurot aktsia kohta). Aastatel 2023 ja 2024 on toimus
aktsia jagunemine ja uute aktsiate emiteerimine, võrreldavuse huvides
kasutatakse valemis iga kord hetkel kehtivat aktsiate arvu.
Müügitulu
2024. majandusaasta esimesel poolaastal suurenes kontserni konsolideeritud
müügitulu 15,8 miljoni euro võrra 576,14 miljoni euroni (2023 konsolideeritud
müügitulu esimesel poolaastal 560,35). Olulist positiivset mõju avaldas
piirkondliku gaasimüügi turuosa kasv 25,4 protsendini, mis võimaldas müügitulu
võrreldes eelneva aastaga suurendada.
EBITDA ja segmendiaruandlus
Energeetikasegmendi esimese poolaasta EBITDA oli 2024. majandusaasta esimeses
kvartalis 73 miljonit eurot (2023. majandusaasta esimesel poolaastal 82 miljonit
eurot).
Laevanduse segmendi EBITDA oli 2024. majandusaasta esimesel poolaastal oli 81
miljonit eurot (2023. majandusaasta esimeses kvartalis 96 miljonit eurot).
Infortar konsolideerib AS Tallink Grupp tulemused kapitaliosaluse meetodil, ehk
vastavalt oma osaluse protsendile AS-s Tallink Grupp, segmendiaruandluses on
vastavalt kehtivatele raamatupidamisreeglitele kajastatud 100% AS Tallink Grupp
tulemused (sealhulgas 100 protsenti EBITDA).
Kinnisvarasegmendis võetakse kasumlikkuse hindamisel arvesse eraldiseisvate
kinnisvara ettevõtete EBITDA. Kinnisvara EBITDA oli 2024. majandusaasta esimesel
poolaastal kvartalis 7 miljonit eurot (2023. majandusaasta esimesel poolaastal
6 miljonit eurot).
Puhaskasum
Konsolideeritud puhaskasum oli 2024. majandusaasta esimesel poolaastal 73
miljonit eurot (2023. majandusaasta esimesel poolaastal 84 miljonit eurot).
Finantseerimine
Laenu ja liisingkohustised olid 2024. majandusaasta esimesel poolaastal 448,4
miljonit eurot (2023. majandusaasta esimeses kvartalis 300,2 miljonit eurot).
Ettevõtte netovõlg vähenes 2023.a. lõpu seisuga võrreldes 90,9 miljonil võrra
263 miljonile, Netovõla ja EBITDA suhtarv on 2,1.
+-----------------------------------------+
Andmed esitatud tuhandetes eurodes | 2. kv 2.kv |
| 2024 2023 6 kuud 2024 6 kuud 2023|
+-----------------------------------------+
Müügitulu 203 555 212 872 576 139 560 352
Müügikulu -200 420 -183 766 -522 993 -465 051
Nõuete allahindlused -50 -6 760 -57 -6 950
-------------------------------------------
Brutokasum 3 085 22 346 53 089 88 351
-------------------------------------------
Turustuskulud -423 -369 -838 -715
Üldhalduskulud -7 018 -5 145 -14 256 -8 588
Kasum (kahjum) bioloogilistelt
varadelt -27 0 -27 0
Kahjum kinnisvarainvesteeringute
õiglase väärtuse muutuses 0 0 156 0
Kasum (-kahjum)
tuletisinstrumentidest -137 13 717 24 522 687
Muud äritulud 481 230 1 081 757
Muud ärikulud -190 -31 -332 -65
-------------------------------------------
Ärikasum -4 229 30 748 63 395 80 427
-------------------------------------------
Kasum kapitaliosaluse meetodil
arvestatud investeeringutelt 16 885 14 724 18 885 15 447
Finantstulud ja - kulud
Finantsinvesteeringute tulu/-kulu 2 738 0 2 738 -24
Intressikulu -6 381 -4 529 -13 126 -8 484
Intressitulu 1 760 1 188 3 004 1 833
Kasum-kahjum valuutakursi muutustest -2 -8 -4 -137
Muud finantstulud/-kulud -6 0 -2 0
Finantstulud ja - kulud kokku -1 891 -3 349 -7 390 -6 812
-------------------------------------------
Kasum enne maksustamist 10 765 42 123 74 890 89 062
-------------------------------------------
Ettevõtte tulumaks 190 -5 217 -1 873 -5 379
-------------------------------------------
Aruandeaasta kasum/ -kahjum 10 955 36 906 73 017 83 683
-------------------------------------------
sealhulgas:
Emaettevõtte omanikele kuuluv
kasum/-kahjum 10 921 36 906 72 983 83 888
Vähemusosalusele kuuluv kasum/-
kahjum 34 0 34 -205
Muu koondkasum kokku* -33 134 -69 667
-------------------------
Aruandeaasta koondkasum/-kahjum
kokku 39 883 14 016
-------------------------
sealhulgas:
Emaettevõtte omanikele kuuluv
kasum/-kahjum 39 849 14 221
Vähemusosalusele kuuluv kasum/
-kahjum 34 -205
Tavakasum aktsia kohta 3,61 13,32
Lahustatud kasum aktsia kohta 3,48 13,17
*Mitterahalised tuletisinstrumentide ümberhindlused koondkasumites ei mõjuta AS-
i Eesti Gaasi ega Infortari põhiäritegevuse kasumlikkust ega rahavoo teenimise
võimet.
+----------------------------------+
Andmed esitatud tuhandetes eurodes | |
+----------------------------------+
VARAD |30.06.24 30.06.23 31.12.2023|
+----------------------------------+
KÄIBEVARA
Raha 185 243 136 026 87 115
Lühiajalised finantsinvesteeringud 1 1 0
Lühiajalised tuletisinstrumendid 2 511 12 618 28 728
Realiseerunud tuletisinstrumentide
nõuded 1 316 365 5 958
Nõuded ostjatele 84 856 72 006 162 575
Maksude ettemaksed 1 014 951 925
Muud nõuded ja ettemaksud 11 285 13 066 20 185
Ettemaksed varude eest 4 288 1 238 3 493
Varud 137 177 124 418 146 884
Bioloogilised varad 425 0 0
------------------------------------
Käibevara kokku 428 116 360 689 455 863
------------------------------------
PÕHIVARA
Investeeringud sidusettevõtetesse 386 702 315 434 346 014
Pikajalised tuletisinstrumendid 2 172 3 959 1 125
Pikajalised laenud ja muud nõuded 7 418 9 892 9 072
Kinnisvarainvesteeringud 184 476 165 815 176 024
Materiaalne põhivara 456 339 151 780 446 748
Immateriaalne põhivara 14 624 9 054 14 366
Kasutusõigusega vara 12 498 9 384 11 300
Bioloogiline vara 2 797 0 0
----------- ------------------------
Põhivara kokku 1 067 026 665 318 1 004 649
----------- ------------------------
VARAD KOKKU 1 495 142 1 026 007 1 460 512
KOHUSTUSED JA OMAKAPITAL
LÜHIAJALISED KOHUSTUSED
Laenukohustised 129 674 107 937 184 259
Rendikohustised 1 734 1 136 1 766
Võlad tarnijatele 88 009 67 704 74 751
Maksukohustused 12 193 14 955 32 822
Ostjate ettemaksed 479 1 037 3 099
Realiseerunud tuletisinstrumendid 7 081 6 200 1 463
Muud lühiajalised kohustused 11 367 4 783 10 851
Lühiajalised tuletisinstrumendid 14 065 44 3 659
------------------------------------
Lühiajalised kohustused kokku 264 602 203 796 312 670
------------------------------------
PIKAAJALISED KOHUSTUSED
Pikaajalised eraldised 10 371 7 492 8 399
Edasilükkunud tulumaksukohustis 33 435 30 268 33 233
Muud pikaajalised kohustused 29 302 17 524 30 679
Pikaajalised tuletisinstrumendid 237 0 186
Laenukohustised 306 571 183 082 246 410
Rendikohustised 10 408 8 062 8 725
------------------------------------
Pikaajalised kohustused kokku 390 324 246 428 327 632
------------------------------------
KOHUSTUSED KOKKU 654 926 450 224 640 302
OMAKAPITAL
Aktsiakapital 2 117 1 985 2 105
Omaaktsiad -95 -95 -95
Ülekurss 32 484 0 29 344
Reservkapital 212 205 205
Optsioonireserv 5 781 2 595 3 864
Riskimaandamise reserv * -9 103 12 623 24 118
Realiseerimata kursivahed 48 20 -39
Töösuhtejärgsete hüvitiste kohustuste
reserv -44 0 -44
Jaotamata kasum 728 559 474 015 466 140
Aruandeaasta kasum 72 983 83 888 293 778
------------------------------------
Emaettevõtte omanikele kuuluv
omakapital 832 942 575 236 819 376
------------------------------------
Vähemusosalus 7 274 547 834
----------- ------------------------
Omakapital kokku 840 216 575 783 820 210
----------- ------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1 495 142 1 026 007 1 460 512
* tegemist on arvestusliku riskimaandamise positsiooni muutusega mis mõjutab
koondkasumi tulemust.
+------------------------------------+
Andmed esitatud tuhandetes eurodes |6 kuud 2024 6 kuud 2023 2023 |
+------------------------------------+
Rahavood äritegevusest
Aruandeaasta kasum 73 017 83 683 293 830
Korrigeerimised
Põhivara kulum ja väärtuse langus 12 271 6 144 15 581
Kinnisvarainvesteeringute väärtuse muutus -156 0 4 074
Kapitaliosaluse kasum/kahjum -18 885 -15 447 -39 639
Tuletisinstrumentide väärtuse muutus 25 168 67 397 54 122
Muud finantstulud/-kulud 83 -1 792 -161 965
Arvestatud intressikulud 13 126 8 484 22 573
Kasum/kahjum põhivarast -173 -31 -91
Tuludes kajastatud sihtfinantseerimise
tulu -84 -313 784
Arvestatud tulumaksukulu 1 873 5 379 8 610
Makstud tulumaks -1 672 -1 -267
Äritegevusega seotud nõuete ja
ettemaksete muutus 91 407 151 608 54 540
Varude muutused 9 606 -39 323 -61 914
Äritegevusega seotud kohustuste muutus -27 452 -35 529 -406
Bioloogiliste varade muutus 149 0 0
--------------------------------------
Kokku rahavood äritegevusest 178 278 230 259 189 832
--------------------------------------
Rahavood investeerimistegevusest
Tasutud sidusettevõtete ostul -21 822 -3 927 -10 314
Tasutud tütarettevõtete ostul -5 401 -4 -103 414
Antud laenude tagasimaksed 1 932 5 844 6 652
Laekunud intressid 2 686 1 834 2 691
Tasutud kinnisvarainvesteeringute
soetamisel -8 296 -5 275 -18 304
Tasutud materiaalse ja immateriaalse
põhivara soetamisel -8 213 -8 968 -18 143
Laekunud kinnisvarainvesteeringute ja
põhivara müügist 282 33 -252
--------------------------------------
Kokku rahavood investeerimistegevusest -38 814 -10 463 -141 084
--------------------------------------
Rahavood finantseerimistegevusest
Arvelduskrediidi muutus -15 513 7 499 14 348
Saadud laene 107 712 900 287 606
Saadud laenude tagasimaksed -92 357 -135 094 -312 846
Rendikohustiste põhiosa tagasimaksed -928 -922 -2 233
Makstud intressid -13 070 -8 280 -22 224
Makstud dividendid -30 332 -7 875 -15 750
Laekunud aktsiate emiteerimisest 3 152 0 29 464
--------------------------------------
Kokku rahavood finantseerimistegevusest -41 336 -143 772 -21 635
--------------------------------------
Rahavood kokku 98 128 76 024 27 113
Raha ja raha ekvivalendid perioodi
alguses 87 115 60 002 60 002
Raha ja raha ekvivalendid perioodi lõpus 185 243 136 026 87 115
Raha ja raha ekvivalentide muutus 98 128 76 024 27 113
Infortar tegutseb kuues riigis, ettevõtte peamised tegevusvaldkonnad on
energeetika, laevandus ja kinnisvara. Infortar omab 46,8 protsendi suurust
osalust AS-is Tallink Grupp, 100% osalust AS-is Eesti Gaas ning mitmekülgset ja
kaasaegset, ca 113 000 m2 suurust kinnisvaraportfelli. Lisaks kolmele
põhitegevusvaldkonnale tegutseb Infortar ka ehituse ja maavarade,
põllumajanduse, trükkimise, taksonduse ja muudes valdkondades. Kokku kuulub
Infortari kontserni 103 ettevõtet: 48 kontserni ettevõtet, 5 sidusettevõtet ja
50 sidusettevõtete tütarettevõtet. Arvestamata sidusettevõtteid annab Infortar
tööd 1344 inimesele.
Lisainfo:
Kadri Laanvee
AS Infortar investorsuhete juht
Tel. 5156662
E-mail: [email protected]
(https://www.globenewswire.com/Tracker?data=xtlSmmEVvnv0ml_TlfqjoV8vTB2u1cEzQJHe
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l4tCLVgatFk3CxdrNNODur_FwYsYd5EhR8mbN9NAmbW-ulOeex9-gdlb9WjaBy5A==)
www.infortar.ee/investorile
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Content of announcement in English
Title
Aktsiaselts Infortar Unaudited Consolidated Interim Report for second quarter of 2024
Message
Infortar will organize a webinar for introducing 2. quarter 2024 results today.
Please join the webinar via the following links:
5 May 2024 at 12:00 (EET) Estonian webinar
(https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup-
join%2F19%3Ameeting_NDQ5Y2VhZTMtMDI2Zi00NTgxLWJhZDctZTdmZWJlM2JiN2Fj%40thread.v2
%2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32-
42128c4493be%2522%252C%2522Oid%2522%253A%252226d1c5dd-51b3-421e-a54d-
7d4596848888%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%2
53A%2522a%2522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup-
join&deeplinkId=155c6d3a-47aa-4889-bee3-
75e7d2056f7a&directDl=true&msLaunch=true&enableMobilePage=true&suppressPrompt=tr
ue)
5 May 2024 at 14:00 (EET) English webinar
(https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup-
join%2F19%3Ameeting_ZDcyM2FiODktMzhhZC00YmExLTk3YjItMGJkM2VlNzcxMjI0%40thread.v2
%2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32-
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7d4596848888%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%2
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In the first half of the year, Infortar's sales volumes increased by 40 percent,
reaching 576 million euros. The company's net profit amounted to 73 million
euros. The value of Infortar's assets reached 1.5 billion euros, and investments
totalled 41 million euros.
"In the first half of the year, we have strengthened our positions in the
Finnish and Baltic energy markets, gained additional market share, increased
sales, and filled gas storage capacities for the next season - our fundamental
indicators are strong and liquidity position is solid, this is a good platform
for continuing our investments," noted Infortar's Chairman of the Board, Ain
Hanschmidt.
"The results of Infortar's main investments are strongly linked with seasonality
- the energy sector delivers high numbers during the cold period, whereas
maritime transportation's passenger numbers peak in the summer," Hanschmidt
added.
In the first half of this year, Infortar invested 41.3 million euros. The
company increased its shareholding in Tallink by 4.5 percent to 46.8 percent,
acquired a majority shareholding in the Halinga farm in Pärnumaa, and
commissioned a solar park in Nica, Latvia. The focus is on expanding operations
in Poland and Germany, as well as gaining access to the wholesale gas market in
the Netherlands and Belgium. The construction of the RIMI logistics centre and
the new bridge in Pärnu have progressed according to planned schedule.
Infortar's subsidiary Eesti Gaas (Elenger in foreign markets), which is the
largest privately owned energy company in the region, increased its sales volume
by 40 percent compared to the same period last year, reaching a total of 10 TWh.
The company's gas sales market share in the Finnish-Baltic market stands at
25.4 percent.
The number of Tallink passengers on the Helsinki route has increased compared to
last year, while the number of travellers between Finland and Sweden has
decreased compared to the same period last year. In June, Infortar announced a
voluntary takeover offer to Tallink's shareholders. Although the offer applies
equally to all investors, it primarily enhances market liquidity, thereby
providing a potential exit opportunity for larger investors who might otherwise
face difficulties due to low trading volumes on the stock exchange.
As of June 30 of 2024, Infortar's equity amounted to 840 million euros, and its
total assets reached 1.5 billion euros. Compared to the results from the six-
month period last year, Infortar's EBITDA and net profit decreased by 11 million
euros. For the first six months of 2024, EBITDA was 76 million euros, and net
profit was 73 million euros.
+----------------------------------+-------------+-------------+-------+-------+
|KEY FIGURES OF FINANCIAL YEAR |6 months 2024|6 months 2023|Q2 |Q2 |
| | | |2024 |2023 |
+----------------------------------+-------------+-------------+-------+-------+
|Revenue (in thousands of EUR) |576 139 |560 352 |203 555|212 872|
+----------------------------------+-------------+-------------+-------+-------+
|Gross profit (in thousands of EUR)|53 089 |88 351 |3 085 |22 346 |
+----------------------------------+-------------+-------------+-------+-------+
|EBITDA (in thousands of EUR) |75 510 |86 571 |1 506 |34 011 |
+----------------------------------+-------------+-------------+-------+-------+
|EBITDA margin % |13% |15% |0,7% |16% |
+----------------------------------+-------------+-------------+-------+-------+
|Operating profit (in thousands of |63 395 |80 427 |-4 229 |30 748 |
|EUR) | | | | |
+----------------------------------+-------------+-------------+-------+-------+
|Net profit (in thousands of EUR) |73 017 |83 683 |10 955 |36 906 |
+----------------------------------+-------------+-------------+-------+-------+
|Earnings per share (EUR)* |3,6 |4,1 |0,5 |1,8 |
+----------------------------------+-------------+-------------+-------+-------+
|Total equity (in thousands of EUR)|840 216 |575 783 | | |
+----------------------------------+-------------+-------------+-------+-------+
|Total liabilities (in thousands of|448 387 |300 217 | | |
|EUR) | | | | |
+----------------------------------+-------------+-------------+-------+-------+
* Earnings per share have been calculated for all reported periods based on the
following formula: net profit for the reporting year divided by the number of
issued shares as of June 30, 2024 (6 months 2024 = (72´839 * 1,000) /
(21,166,239-945´000) = 3.6 euros per share). In 2023 and 2024, share splits and
the issuance of new shares occurred. For comparability purposes, the formula
uses the currently valid number of shares each time.
Sales Revenue
In the first half of the 2024 financial year, the group's consolidated sales
revenue increased by 15.8 million euros, reaching 576.14 million euros (compared
to 560.35 million euros in the first half of 2023). The significant positive
impact was due to the growth in the regional gas sales market share to 25.4
percent, which allowed for an increase in sales revenue compared to the previous
year.
EBITDA and Segment Reporting
Energy Segment: The EBITDA for the energy segment in the first half of the 2024
financial year was 73 million euros (compared to 82 million euros in the first
half of 2023).
Maritime transport Segment: The EBITDA for the maritime transport segment in the
first half of the 2024 financial year was 81 million euros (compared to 96
million euros in the first quarter of the 2023 financial year). Infortar
consolidates the results of AS Tallink Grupp using the equity method, meaning
that results of AS Tallink Grupp are reflected in the segment reporting
according to Infortar's ownership percentage in AS Tallink Grupp. In segment
reporting, 100% of AS Tallink Grupp results (including 100% EBITDA) are
accounted for in accordance with applicable accounting rules.
Real Estate Segment: The profitability assessment considers the EBITDA of
individual real estate companies. The EBITDA for the real estate segment in the
first half of the 2024 financial year was 7 million euros (compared to 6 million
euros in the first half of 2023).
Net Profit
The consolidated net profit for the first half of the 2024 financial year was
73 million euros (compared to 84 million euros in the first half of the 2023
financial year).
Financing
Loan and lease liabilities amounted to 448.4 million euros in the first half of
the 2024 financial year (compared to 300.2 million euros in the first quarter of
the 2023 financial year). The company's net debt decreased by 90.9 million euros
compared to the end of 2023, totalling 263 million euros. The net debt to EBITDA
ratio is 2.1.
+-----------------------------------+
Numbers presented in thousands of euros | Q2 Q2 |
| 2024 2023 6 m 2024 6 m 2023|
+-----------------------------------+
Sales Revenue 203 555 212 872 576 139 560 352
Cost of Sales -200 420 -183 766 -522 993 -465 051
Impairment of Receivables -50 -6 760 -57 -6 950
-------------------------------------
Gross Profit 3 085 22 346 53 089 88 351
-------------------------------------
Marketing Expenses -423 -369 -838 -715
General Administrative Expenses -7 018 -5 145 -14 256 -8 588
Profit (Loss) from Biological Assets -27 0 -27 0
Loss on Changes in Fair Value of
Investment Properties 0 0 156 0
Profit (Loss) from Derivative Instruments -137 13 717 24 522 687
Other Operating Income 481 230 1 081 757
Other Operating Expenses -190 -31 -332 -65
-------------------------------------
Operating Profit -4 229 30 748 63 395 80 427
-------------------------------------
Profit from Investments Accounted for
Using the Equity Method 16 885 14 724 18 885 15 447
Financial Income and Expenses
Income from Financial Investments 2 738 0 2 738 -24
Interest Expense -6 381 -4 529 -13 126 -8 484
Interest Income 1 760 1 188 3 004 1 833
Profit (Loss) from Foreign Exchange Rate
Changes -2 -8 -4 -137
Other Financial Income and Expenses -6 0 -2 0
Total Financial Income and Expenses -1 891 -3 349 -7 390 -6 812
-------------------------------------
Profit Before Tax 10 765 42 123 74 890 89 062
-------------------------------------
Corporate Income Tax 190 -5 217 -1 873 -5 379
-------------------------------------
Profit (Loss) for the Reporting Period 10 955 36 906 73 017 83 683
-------------------------------------
Including:
Profit (Loss) Attributable to Owners of
the Parent Company 10 921 36 906 72 983 83 888
Profit (Loss) Attributable to Non-
controlling Interests 34 0 34 -205
Other Comprehensive Income for the
Reporting Period -33 134 -69 667
-------------------
Total Comprehensive income for the
Reporting Period
Including: 39 883 14 016
-------------------
Comprehensive Income (Loss) Attributable
to Owners of the Parent Company 39 849 14 221
Comprehensive Income (Loss) Attributable
to Non-controlling Interests 34 -205
Basic Earnings per Share 3,61 13,32
Diluted Earnings per Share 3,48 13,17
* The non-cash revaluations of derivative instruments in comprehensive income do
not affect the profitability or cash flow generating ability of AS Eesti Gaas or
Infortar's core business operations.
+----------------------------------+
Numbers presented in thousands of euros | |
+----------------------------------+
ASSETS |30.06.24 30.06.23 31.12.2023|
+----------------------------------+
CURRENT ASSETS
Cash 185 243 136 026 87 115
Short-term Financial Investments 1 1 0
Short-term Derivative Instruments 2 511 12 618 28 728
Receivables from Realized Derivative
Instruments 1 316 365 5 958
Receivables from Customers 84 856 72 006 162 575
Tax Prepayments 1 014 951 925
Other Receivables and Prepayments 11 285 13 066 20 185
Prepayments for Inventories 4 288 1 238 3 493
Inventories 137 177 124 418 146 884
Biological Assets 425 0 0
------------------------------------
Total Current Assets 428 116 360 689 455 863
------------------------------------
NON-CURRENT ASSETS
Investments in Associates 386 702 315 434 346 014
Long-term Derivative Instruments 2 172 3 959 1 125
Long-term Loans and Other Receivables 7 418 9 892 9 072
Investment Properties 184 476 165 815 176 024
Property, Plant, and Equipment 456 339 151 780 446 748
Intangible Assets 14 624 9 054 14 366
Right-of-use Assets 12 498 9 384 11 300
Biological Assets 2 797 0 0
----------- ------------------------
Total non-current assets 1 067 026 665 318 1 004 649
----------- ------------------------
TOTAL ASSETS 1 495 142 1 026 007 1 460 512
CURRENT LIABILITIES
Loan Liabilities 129 674 107 937 184 259
Lease Liabilities 1 734 1 136 1 766
Payables to Suppliers 88 009 67 704 74 751
Tax Liabilities 12 193 14 955 32 822
Customer Prepayments 479 1 037 3 099
Realized Derivative Instruments 7 081 6 200 1 463
Other Short-term Liabilities 11 367 4 783 10 851
Short-term Derivative Instruments 14 065 44 3 659
------------------------------------
Total Current Liabilities 264 602 203 796 312 670
------------------------------------
NON-CURRENT LIABILITIES
Long-term Provisions 10 371 7 492 8 399
Deferred Income Tax Liability 33 435 30 268 33 233
Other Long-term Liabilities 29 302 17 524 30 679
Long-term Derivative Instruments 237 0 186
Loan liabilities 306 571 183 082 246 410
Lease liabilities 10 408 8 062 8 725
------------------------------------
TOTAL NON-CURRENT LIABILITIES 390 324 246 428 327 632
------------------------------------
TOTAL LIABILITIES 654 926 450 224 640 302
EQUITY
Share Capital 2 117 1 985 2 105
Treasury Shares -95 -95 -95
Share Premium 32 484 0 29 344
Statutory Reserve 212 205 205
Option Reserve 5 781 2 595 3 864
Hedging Reserve* -9 103 12 623 24 118
Unrealized Exchange Differences 48 20 -39
Reserve for Post-employment Benefit
Obligations -44 0 -44
Retained Earnings 729 579 474 015 466 140
Profit for the Reporting Period 72 983 83 888 293 778
------------------------------------
Equity Attributable to Owners of the
Parent Company 832 942 575 236 819 376
------------------------------------
Non-controlling Interests
7 274 547 834
----------- ------------------------
TOTAL EQUITY 840 216 575 783 820 210
----------- ------------------------
TOTAL EQUITY AND LIABILITIES 1 495 142 1 026 007 1 460 512
* This represents the change in the accounting hedging position, which affects
the comprehensive income result.
+----------------------------------------+
Numbers presented in thousands of | |
euros |6 months 2024 6 months 2023 2023 |
+----------------------------------------+
Cash Flows from Operating Activities
Profit for the Reporting Period 73 017 83 683 293 830
Adjustments
Depreciation and Impairment of Fixed
Assets 12 271 6 144 15 581
Change in Value of Investment
Properties -156 0 4 074
Profit/Loss from Equity Investments -18 885 -15 447 -39 639
Change in Value of Derivative
Instruments 25 168 67 397 54 122
Other Financial Income/Expenses 83 -1 792 -161 965
Accrued Interest Expenses 13 126 8 484 22 573
Profit/Loss from Disposal of Fixed
Assets -173 -31 -91
Income from Targeted Financing
Recognized in Revenue -84 -313 784
Accrued Income Tax Expense 1 873 5 379 8 610
Income Tax Paid -1 672 -1 -267
Change in Receivables and Prepayments
Related to Operating Activities 91 407 151 608 54 540
Change in Inventories 9 606 -39 323 -61 914
Change in Liabilities Related to
Operating Activities -27 452 -35 529 -406
Change in Biological Assets 149 0 0
------------------------------------------
Total Cash Flows from Operating
Activities 178 278 230 259 189 832
------------------------------------------
Cash Flows from investing activities
Payments for Purchase of Associates -21 822 -3 927 -10 314
Payments for Purchase of Subsidiaries -5 401 -4 -103 414
Repayments of Loans Granted 1 932 5 844 6 652
Interest Received 2 686 1 834 2 691
Payments for Acquisition of
Investment Properties -8 296 -5 275 -18 304
Payments for Acquisition of Property,
Plant and other assets -8 213 -8 968 -18 143
Proceeds from Sale of Investment
Properties and Fixed Assets 282 33 -252
------------------------------------------
Total cash Flows from investing
activities -38 814 -10 463 -141 084
------------------------------------------
Cash Flows from Financing Activities
Change in Overdraft -15 513 7 499 14 348
Loans Received 107 712 900 287 606
Repayments of Loans Received -92 357 -135 094 -312 846
Repayments of Principal Portion of
Lease Liabilities -928 -922 -2 233
Interest Paid -13 070 -8 280 -22 224
Dividends Paid -30 332 -7 875 -15 750
Proceeds from Issuance of Shares 3 152 0 29 464
------------------------------------------
Total Cash Flows from Financing
Activities -41 336 -143 772 -21 635
------------------------------------------
Total cash flows 98 128 76 024 27 113
Cash and Cash Equivalents at
Beginning of Period 87 115 60 002 60 002
Cash and Cash Equivalents at End of
Period 185 243 136 026 87 115
Change in Cash and Cash Equivalents 98 128 76 024 27 113
Infortar operates in six countries, the company's main fields of activity are
energy, maritime transport, and real estate. Infortar owns a 46,8% stake in AS
Tallink Grupp, a 100% stake in AS Eesti Gaas and a versatile and modern real
estate portfolio of approx. 113,000 m2. In addition to the three main areas of
activity, Infortar also operates in construction and mineral resources,
agriculture, printing, taxi business and many other areas. A total of 103
companies belong to the Infortar group: 48 subsidiaries, 5 affiliated companies
and 50 subsidiaries of affiliated companies. Excluding affiliates, Infortar
employs 1,344 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
e-mail: [email protected] (mailto:[email protected])
phone: +372 5156662
https://infortar.ee/en/investor