Market announcement
AKTSIASELTS 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
17006
Attachments
Submission date and time
25.02.2025 09:00:30
Content of announcement in Estonian
Title
Aktsiaseltsi Infortar 2024. aasta auditeerimata konsolideeritud neljanda kvartali ja 12 kuu tulemused
Message
Aktsiaselts Infortar (Infortar) korraldab täna kõikidele huvilistele 4. kvartali 2024 tulemusi tutvustava veebiseminari. Veebiseminariga ühinemiseks palume kasutada järgmiseid linke: 25. veebruaril kell 12:00 eestikeelne veebiseminar (https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup- join%2F19%3Ameeting_YjMyNTE2ZjUtYWE4ZC00ODkxLTgxODUtOGJkNWE1NjE0ODQw%40thread.v2 %2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32- 42128c4493be%2522%252C%2522Oid%2522%253A%2522cac0a2ac-22c1-4c6b-8c26-544f0e5a12c 5%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%253A%2522a%2 522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup- join&deeplinkId=3d0b78f1- 354c-4c7e-9132-0160f3c55998&directDl=true&msLaunch=true&enableMobilePage=true&su ppressPrompt=true) 25. veebruaril kell 14:00 ingliskeelne veebiseminar (https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup- join%2F19%3Ameeting_NmQwYjYxMDEtYjQ1ZS00OTA1LTg1YjQtN2YwNTc2MGI5NTdi%40thread.v2 %2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32- 42128c4493be%2522%252C%2522Oid%2522%253A%2522cac0a2ac-22c1-4c6b-8c26-544f0e5a12c 5%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%253A%2522a%2 522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup- join&deeplinkId=6fa2dc7e- 220c-4dc7-8c99-9f13fe58f5fd&directDl=true&msLaunch=true&enableMobilePage=true&su ppressPrompt=true) Eesti ühe suurima ettevõtte Infortar varade maht kasvas peale Tallink Grupis (Tallink) enamusosaluse omandamist ja Poolas gaasifirma soetamist ligi kaks korda 1,4 miljardilt 2,7 miljardi euroni. Infortari aktsia tõusis esimese börsiaastaga 70 protsenti ja ettevõtte väärtus tervikuna 548 miljonilt 916 miljoni euroni. ?Meie viimaste aastate investeeringute maht ulatub ligi poole miljardini, õigete investeerimisotsuste tulemusel oleme kasvanud aastaga varade mahult Eesti üheks suurimaks ettevõtteks, jätkame kasvu otsimist, seda terves regioonis," märkis Infortari juhatuse esimees Ain Hanschmidt. "Täna toimuvad muutused ettevõtete konkurentsivõime tõstmisel ja energiapoliitikas Eestis, Euroopas kui Ameerika Ühendriikides näevad maagaasil varasemast suuremat rolli taastuvenergeetika toetajana ja juhitavate võimsuste tagajana. Samuti saab olukord meretranspordi valdkonnas üksnes paremaks minna," tähendas Hanschmidt. Olulisemad sündmused Meretransport Kevad-suvel investeeris Infortar Tallinki aktsiate ostmiseks 110 miljonit eurot ja suurendas oma osalust Tallinkis 68,5 protsendini. Tallinki reisijate koguarv 2024. aastal oli 5,6 miljonit. Majandusaasta lõpu seisuga opereeris Tallink 14 laeva, välja prahitud oli möödunud aasta jooksul kolm laeva. Veetud kaubaveoühikute arv oli pisut üle 303 000, reisijate sõidukeid veeti kokku üle 777 000. Energeetika Infortari tütarettevõte Elenger Grupp (Elenger) sõlmis 2024. aasta sügisel Saksa energiakontserniga EWE AG 120 miljoni euro suuruse lepingu EWE grupi kogu Poola äritegevuse omandamiseks, tehing hõlmas nii maagaasi, jaotusvõrku Lääne-Poolas kui energiamüügi kõiki ärisuundi. 2024. aastal müüs Elenger kokku 18,4 TWh energiat (2023. aastal 15,9 TWh). 2024. aasta energiamüügist moodustas müük Eestis 16%. Ettevõtte gaasimüügi turuosa aasta kokku Soome-Balti turul oli 24,3%. Kinnisvara Infortari kinnisvaraportfell on aastaga kasvanud 100 tuhandelt 141 tuhande ruutmeetrini. Eelmise aasta lõpus sai kasutusloa Saue vallas asuv Rimi logistikakeskus. Käesoleva aasta suvel valmib Pärnu uus sild ja järgmisel aastal Lasnamäe DEPO teine kauplus Eestis ning 2028. aasta alguses Rail Baltica põhitrassil Kangru-Saku lõik. Tähtsamad finantsnäitajad ja suhtarvud +------------------------------------------------------------------------------+ | 12 kuud | |Finantsnäitaja/suhtarv 4 kv 2024 4 kv 2023 2024 12 kuud 2023| | | |Müügitulu (miljonites eurodes) 446,168 337,734 1 371,775 1 084,626 | | | |Brutokasum (miljonites eurodes) 34,871 42,235 128,629 149,473 | | | |EBITDA (miljonites eurodes) 27,892 37,418 145,415 143,283 | | | |EBITDA marginaal (%) 6,3% 11,1% 10,6% 13,2% | | | |Ärikasum/ kahjum (EBIT) (miljonites | |eurodes) -6,792 28,967 77,025 123,628 | | | |Aruandeaasta kasum/ kahjum | |(miljonites eurodes) -11,988 24,206 175,351 293,830 | | | |Emaettevõtte omanikele kuuluv kasum | |(miljonites eurodes) -11,188 24,232 172,933 293,778 | | | |Puhaskasum aktsia kohta (eurodes)* -0,54 1,18 8,46 14,62 | | | |Omakapital (miljonites eurodes) 1 166,222 820,210 1 166,222 820,210 | | | |Kohustised (miljonites eurodes) 1 223,287 441,160 1 223,287 441,160 | | | |Netovõlg (miljonites eurodes) 1 055,708 354,045 1 055,708 354,045 | | | |Investeerimislaenude ja EBITDA suhe 3.0x 1.7x 3.0x 1.7x | +------------------------------------------------------------------------------+ Puhaskasum aktsia kohta (eurodes) arvutatakse järgmise valemi abil: emaettevõtte omanikele kuuluv kasum on jagatud kaalutud keskmise lihtaktsiate arvuga (20 443 629 seisuga 31.12.2024 ja 20 100 000 seisuga 31.12.2023). Aktsiate arv 20 443 629 saadakse järgmiselt: Infortaril on kokku emiteeritud lihtaktsiaid 21 166 239 ja sellest arvatakse maha 722 610 omaaktsiat mis on väljastatud töötajate optsiooniprogrammi raames ja mida ei ole realiseeritud. Müügitulu 2024. majandusaastal suurenes kontserni konsolideeritud müügitulu 287,149 miljoni euro võrra 1 371,775 miljoni euroni (2023 konsolideeritud müügitulu 1 084,626 miljonit eurot). Olulist mõju avaldas Tallink Grupp tulemuste konsolideerimine Infortari konsolideeritud finantsaruannetesse alates 1. august 2024. EBITDA ja segmendiaruandlus Meretranspordi segmendi EBITDA oli 2024. majandusaastal 175,181 miljonit eurot (2023. majandusaastal 214,528 miljonit eurot). Segmendiaruandluses on vastavalt kehtivatele raamatupidamisreeglitele kajastatud 100% Tallinki tulemused. Tallinki 2024 tulemusi mõjutasid peamiselt keeruline majandusolukord koduturgudel ja tarbimiskindluse madalaim tase viimase kümnendi jooksul. Energeetikasegmendi EBITDA oli 2024. majandusaastal 77,235 miljonit eurot (2023. majandusaastal 135,999 miljonit eurot). Keskmisest soojem talv põhjustas müügimahtude languse, mis omakorda mõjutas kasumlikkust IV kvartalis. Kinnisvarasegmendis võetakse kasumlikkuse hindamisel arvesse eraldiseisvate kinnisvara ettevõtete EBITDA. Kinnisvara EBITDA oli 2024. majandusaastal kokku 13,567 miljonit eurot (2023. majandusaastal 12,399 miljonit eurot). Täiendavalt lisandusid 2023. majandusaastal arvestusse kolm uut hoonet aadressidel Liivalaia 9, Tähesaju 9 ja Tähesaju 11. Puhaskasum Konsolideeritud puhaskasum oli 2024. majandusaastal 175,351 miljonit eurot (2023. majandusaastal 293,83 miljonit eurot). Ühekordse olulise mõjuga tehingutest olid 2023. majandusaasta puhaskasumi arvestuses Läti gaasi jaotusvõrgu ettevõte Gaso omandamisega seotud mõjud. Konsolideeritud ärikasum oli 2024. majandusaastal 77,025 miljonit eurot (2023. majandusaastal 123,628 miljonit eurot). Investeeringud Kevadel sisenes Infortar põllumajanduse valdkonda, soetas Eesti ühe suurima piimafarmi Halingal ning ehitab farmi kõrvale rohegaasijaama kohaliku gaasi tootmiseks. Kevadsuvel investeeris kontsern Tallinki aktsiate ostmiseks 110 miljonit eurot ja suurendas oma osalust Tallinkis 68,5 protsendini. Sügisel sõlmis tütarettevõte Elenger Saksa energiakontserniga EWE AG 120 miljoni euro suuruse lepingu EWE grupi kogu Poola äritegevuse omandamiseks, tehing hõlmab nii maagaasi jaotusvõrku Lääne-Poolas kui energiamüügi kõiki ärisuundi. 2024. aasta neljandas kvartalis oli Infortar grupi investeeringute kogusumma ligikaudu 140 miljonit eurot ning 12 kuu arvestuses 279 miljonit eurot. Finantseerimine Laenu ja liisingkohustised olid 2024. majandusaastal kokku 1 223,287 miljonit eurot (2023. majandusaastal 441,160 miljonit eurot). Oluline suurenemine 2024. majandusaastal tuleneb peamiselt Tallink Grupp rida realt konsolideerimisest, millega võeti kohustiste hulka täies mahus Tallinki kohustised. Proportsionaalselt varade kasvu mahuga suurenes Infortari netovõlg 701,663 miljoni euro võrra 1 055,708 miljoni euroni (354,045 miljonit eurot seisuga 31.12.2024). Netovõla ja EBITDA suhe oli 3,4. Dividendid Dividendipoliitika kohaselt on eesmärgiks maksta dividendideks vähemalt 1 euro aktsia kohta majandusaastas. Dividendide väljamakseid tehakse kahes osas. Infortar kontserni juhatus kavatseb kooskõlastatult nõukoguga teha ettepaneku tasuda 2024. aasta majandustulemuste eest dividendi 3 eurot aktsia kohta. Ettepaneku kohaselt toimuvad väljamaksed juulis ja detsembris 2025. Dividend koosneb kolmest osast: 1 euro aktsia kohta, mida makstakse vastavalt dividendipoliitikale; AS Tallink Grupp edasi kantav dividend (ümardatud ülesse); Täiendav dividend, mida makstakse tulenevalt majandustulemustest 2024. aastal. Infortari aktsiate arv kokku on 21 166 239, millest arvatakse maha 722 610 omaaktsiat. Dividende makstakse seega 20 443 629 aktsia eest, mille rahaline väärtus on ligikaudu 61 miljonit eurot. Konsolideeritud kasumiaruanne +------------------------------------------------------------------------------+ | 12 kuud 12 kuud | |(tuhandetes eurodes) 4. kv 2024 4. kv 2023 2024 2023 | | | |Müügitulu 446 168 337 734 1 371 775 1 084 626| | | |Müügikulu -411 237 -295 439 -1 243 033 -934 811 | | | |Nõuete allahindlused -60 -60 -113 -342 | | | |Brutokasum 34 871 42 235 128 629 149 473 | | | |Turustuskulud -12 459 -511 -21 086 -1 620 | | | |Üldhalduskulud -22 759 -9 522 -50 438 -22 085 | | | |Kasum/kahjum bioloogilistelt | |varadelt -156 0 -139 0 | | | |Kahjum | |kinnisvarainvesteeringute -6 749 -4 074 -9 640 -4 074 | |õiglase väärtusest | | | |Kasum/kahjum 2 098 902 26 672 1 969 | |tuletisinstrumentidest | | | |Muud äritulud -767 1 458 4 682 2 523 | | | |Muud ärikulud -871 -1 521 -1 655 -2 558 | | | |Ärikasum -6 792 28 967 77 025 123 628 | | | | | | | | 12 kuud 12 kuud | |(tuhandetes eurodes) 4. kv 2024 4. kv 2023 2024 2023 | | | |Kasum kapitaliosaluse meetodil 846 1 938 22 974 39 639 | |arvestatud investeeringutelt | | | |Finantstulud ja -kulud | | | |Finantsinvesteeringute 269 54 72 789 -4 | |tulu/kulu | | | |Intressikulu -13 808 -8 569 -38 274 -22 573 | | | |Intressitulu 760 465 4 979 2 765 | | | |Kasum/kahjum valuutakursi -56 -13 100 -173 | |muutustest | | | |Muud finantstulud/-kulud 16 287 -58 15 892 159 158 | | | |Finantstulud ja -kulud kokku 3 452 -8 121 55 486 139 173 | | | |Kasum enne maksustamist -2 494 22 784 155 485 302 440 | | | |Ettevõtte tulumaks -9 494 1 422 19 866 -8 610 | | | |Aruandeaasta kasum/kahjum -11 988 24 206 175 351 293 830 | | | |sealhulgas: | | | |Emaettevõtte omanikele kuuluv -11 188 24 232 172 934 293 778 | |kasum/kahjum | | | |Vähemusosalusele kuuluv -800 -26 2 417 52 | |kasum/kahjum | | | | | | | | 12 kuud 12 kuud | |Muu koondkasum 2024 2023 | | | |Kirjed, mida võib edaspidi ümber klassifitseerida kasumiaruandesse: | | | |Rahavoogude riskimaandamisinstrumendid -46 786 -58 233 | | | |Välismaiste tütarettevõtjate ümberarvestusel tekkinud 53 -42 | |valuutakursivahed | | | |Muu koondkasum kokku -46 733 -58 275 | | | |Aruandeaasta koondkasum/-kahjum kokku 128 618 235 555 | | | |sealhulgas: | | | |Emaettevõtte omanikele kuuluv kasum/kahjum 126 201 235 503 | | | |Vähemusosalusele kuuluv kasum/kahjum 2 417 52 | | | |Tavakasum aktsia kohta 8,46 14,26 | | | |Lahustatud kasum aktsia kohta 8,16 14,10 | | | | | | | |KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE | | | | | | | |(tuhandetes eurodes) 31.12.24 31.12.23 | | | |KÄIBEVARA | | | |Raha 167 579 87 115 | | | |Lühiajalised | |finantsinvesteeringud 1 0 | | | |Lühiajalised | |tuletisinstrumendid 8 333 28 728 | | | |Realiseerunud | |tuletisinstrumentide nõuded 676 5 958 | | | |Nõuded ostjatele 155 351 162 575 | | | |Maksude ettemaksed 3 831 925 | | | |Muud nõuded ja ettemaksud 38 517 20 185 | | | |Ettemaksed varude eest 2 498 3 493 | | | |Varud 215 914 146 884 | | | |Bioloogilised varad 941 0 | | | |Käibevara kokku 593 641 455 863 | | | | | | | |PÕHIVARA 31.12.24 31.12.23 | | | |Investeeringud | |sidusettevõtetesse 16 603 346 014 | | | |Pikajalised tuletisinstrumendid 3 214 1 125 | | | |Pikaajalised laenud ja muud | |nõuded 35 163 9 072 | | | |Kinnisvarainvesteeringud 67 931 176 024 | | | |Materiaalne põhivara 1 909 458 446 748 | | | |Immateriaalne põhivara 38 874 14 366 | | | |Kasutusõigusega vara 47 598 11 300 | | | |Bioloogiline vara 2 753 0 | | | |Põhivara kokku 2 121 594 1 004 649 | | | |VARAD KOKKU 2 715 235 1 460 512 | | | | | | | |KOHUSTUSED JA OMAKAPITAL | | | |(tuhandetes eurodes) 31.12.24 31.12.23 | | | |LÜHIAJALISED KOHUSTUSED | | | |Laenukohustised 477 162 184 259 | | | |Rendikohustised 9 020 1 766 | | | |Võlad tarnijatele 87 941 74 751 | | | |Maksukohustused 49 354 32 822 | | | |Ostjate ettemaksed 31 126 3 099 | | | |Realiseerunud | |tuletisinstrumendid 8 728 1 463 | | | |Muud lühiajalised kohustused 63 431 10 851 | | | |Lühiajalised | |tuletisinstrumendid 27 704 3 659 | | | |Lühiajalised kohustused kokku 754 446 312 670 | | | | | | | |PIKAAJALISED KOHUSTUSED 31.12.24 31.12.23 | | | |Pikaajalised eraldised 9 946 8 399 | | | |Edasilükkunud tulumaksukohustis 2 816 33 233 | | | |Muud pikaajalised kohustused 43 209 30 679 | | | |Pikaajalised | |tuletisinstrumendid 1 471 186 | | | |Laenukohustised 696 670 246 410 | | | |Rendikohustised 40 435 8 725 | | | |Pikaajalised kohustused kokku 794 547 327 632 | | | |KOHUSTUSED KOKKU 1 549 013 640 302 | | | | | | | |(tuhandetes eurodes) 31.12.24 31.12.23 | | | |OMAKAPITAL | | | |Aktsiakapital 2 117 2 105 | | | |Omaaktsiad -72 -95 | | | |Ülekurss 32 484 29 344 | | | |Reservkapital 212 205 | | | |Optsioonireserv 6 223 3 864 | | | |Riskimaandamise reserv* 7 455 24 118 | | | |Realiseerimata kursivahed 1 113 -39 | | | |Töösuhtejärgsete hüvitiste | |kohustuste reserv -44 -44 | | | |Jaotamata kasum 698 914 466 140 | | | |Aruandeaasta kasum 172 934 293 778 | | | |Emaettevõtte omanikele kuuluv | |omakapital 921 336 819 376 | | | |Vähemusosalus 244 886 834 | | | |Omakapital kokku 1 166 222 820 210 | | | | | | | |KOHUSTUSED JA OMAKAPITAL KOKKU 2 715 235 1 460 512 | | | | | | | |* tegemist on arvestusliku riskimaandamise positsiooni | |muutusega mis mõjutab koondkasumi tulemust. | +------------------------------------------------------------------------------+ +------------------------------------------------------------------------------+ |KONSOLIDEERITUD RAHAVOOGUDE ARUANNE | | | | | | | |Rahavood äritegevusest | | | |(tuhandetes eurodes) 12 kuud 2024 12 kuud 2023| | | |Aruandeaasta kasum 175 351 293 830 | | | |Korrigeerimised: | | | |Põhivara kulum ja väärtuse langus 58 611 15 581 | | | |Kinnisvarainvesteeringute väärtuse muutus 9 640 4 074 | | | |Kapitaliosaluse ümberhindlus -156 863 -39 639 | | | |Tuletisinstrumentide väärtuse muutus 20 888 54 309 | | | |Muud finantstulud/-kulud -827 -161 965 | | | |Arvestatud intressikulud 38 274 22 573 | | | |Kasum/kahjum põhivarast -953 -91 | | | |Tuludes kajastatud sihtfinantseerimise tulu 2 984 784 | | | |Arvestatud tulumaksukulu -19 866 8 610 | | | |Makstud tulumaks -10 551 -267 | | | |Äritegevusega seotud nõuete ja ettemaksete muutus 52 022 54 539 | | | |Varude muutused -12 830 -61 915 | | | |Äritegevusega seotud kohustuste muutus -22 278 -591 | | | |Bioloogiliste varade muutus -322 0 | | | |Kokku rahavood äritegevusest 133 280 189 832 | | | | | | | |Rahavood investeerimistegevusest 12 kuud 2024 12 kuud 2023| | | |Tasutud sidusettevõtete ostul 0 -10 314 | | | |Tasutud tütarettevõtete ostul -155 313 -103 414 | | | |Saadud dividendid 20 862 0 | | | |Antud laenude tagasimaksed 1 918 6 652 | | | |Laekunud intressid 4 953 2 691 | | | |Tasutud kinnisvarainvesteeringute soetamisel -5 071 -18 304 | | | |Tasutud materiaalse ja immateriaalse põhivara -38 332 -18 143 | |soetamisel | | | |Laekunud kinnisvarainvesteeringute ja põhivara 1 559 -252 | |müügist | | | |Kokku rahavood investeerimistegevusest -169 424 -141 084 | | | | | | | |Rahavood finantseerimistegevusest 12 kuud 2024 12 kuud 2023| | | |Arvelduskrediidi muutus 12 863 14 349 | | | |Saadud laene 358 733 130 567 | | | |Saadud laenude tagasimaksed -151 790 -155 808 | | | |Rendikohustiste põhiosa tagasimaksed -6 222 -2 233 | | | |Makstud intressid -39 153 -22 224 | | | |Makstud dividendid -60 997 -15 750 | | | |Laekunud aktsiate emiteerimisest 3 174 29 464 | | | |Kokku rahavood finantseerimistegevusest 116 608 -21 635 | | | | | | | |Rahavood kokku 80 464 27 113 | | | |Raha ja raha ekvivalendid perioodi alguses 87 115 60 002 | | | |Raha ja raha ekvivalendid perioodi lõpus 167 579 87 115 | | | |Raha ja raha ekvivalentide muutus 80 464 27 113 | +------------------------------------------------------------------------------+ Infortar tegutseb seitsmes riigis, ettevõtte peamised tegevusvaldkonnad on meretransport, energeetika ja kinnisvara. Infortar omab 68,5 protsendi suurust osalust AS-is Tallink Grupp, 100% osalust AS-is Elenger Grupp ning mitmekülgset ja kaasaegset, ca 141 000 m2 suurust kinnisvaraportfelli. Lisaks kolmele põhitegevusvaldkonnale tegutseb Infortar ehituse ja maavarade, põllumajanduse, trükkimise ja muudes valdkondades. Kokku kuulub Infortari kontserni 110 ettevõtet: 101 kontserni ettevõtet, 4 sidusettevõtet ja 5 sidusettevõtete tütarettevõtet. Arvestamata sidusettevõtteid annab Infortar tööd 6228 inimesele. Lisainfo: Kadri Laanvee AS Infortar investorsuhete juht Tel. 5156662 E-mail: [email protected] www.infortar.ee/investorile (https://www.infortar.ee/investorile)
Content of announcement in English
Title
Aktsiaselts Infortar Unaudited Consolidated Interim Report for fourth quarter and 12 months of 2024
Message
Aktsiaselts Infortar (Infortar) will organize a webinar for introducing fourth quarter 2024 results today. Please join the webinar via the following links: 25 February 2025 at 12:00 (EET) Estonian webinar (https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup- join%2F19%3Ameeting_YjMyNTE2ZjUtYWE4ZC00ODkxLTgxODUtOGJkNWE1NjE0ODQw%40thread.v2 %2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32- 42128c4493be%2522%252C%2522Oid%2522%253A%2522cac0a2ac-22c1-4c6b-8c26-544f0e5a12c 5%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%253A%2522a%2 522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup- join&deeplinkId=e1182908- 3d26-4f12-8783-39b4f6f2c615&directDl=true&msLaunch=true&enableMobilePage=true&su ppressPrompt=true) 25 February 2025 at 14:00 (EET) English webinar (https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup- join%2F19%3Ameeting_NmQwYjYxMDEtYjQ1ZS00OTA1LTg1YjQtN2YwNTc2MGI5NTdi%40thread.v2 %2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32- 42128c4493be%2522%252C%2522Oid%2522%253A%2522cac0a2ac-22c1-4c6b-8c26-544f0e5a12c 5%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%253A%2522a%2 522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup- join&deeplinkId=08df7f07-5120-408e-bac0- 31a147cb9cf6&directDl=true&msLaunch=true&enableMobilePage=true&suppressPrompt=tr ue) Estonia's largest investment holding company, Infortar assets increased from EUR1.4 billion to EUR2.7 billion following the acquisition of a majority shareholding in Tallink Group (Tallink) and the purchase of a gas sale- and distribution company in Poland. Infortar's stock price raised by 70% in its first year on the Tallinn stock exchange, raising the company's total valuation from EUR548 million to EUR916 million. "Over the past few years, our investments have amounted to nearly half a billion euros. We have grown into one of Estonia's largest companies in terms of assets within a year. We will continue seeking growth opportunities across the region," said Ain Hanschmidt, Chairman of the Management Board of Infortar. "Today, changes in corporate competitiveness and energy policy across Estonia, Europe, and the United States recognize an increasing role for natural gas as a supporter of renewable energy and a provider of controllable capacity. The outlook for the maritime transport sector is set to improve," Hanschmidt added. Major events Maritime transportation In the summer, Infortar invested EUR110 million in acquiring Tallink shares, increasing its shareholding in Tallink to 68.5%. The total number of passengers in 2024 reached 5.6 million. As of the end of the financial year, Tallink operated 14 vessels. Three vessels were chartered out during the year. The number of transported cargo units exceeded 303,000, and passenger vehicles transported totaled 777,000. Energy Infortar's subsidiary, Elenger Group (Elenger), signed a EUR120 million agreement with the German energy conglomerate EWE AG to acquire EWE Group's business operations in Poland. The transaction included natural gas assets, a distribution network in Western Poland, and all energy sales segments. In 2024, Elenger sold a total of 18.4 TWh of energy (15.9 TWh in 2023). Sales in Estonia accounted for 16% of the total energy sales in 2024. The company's market share in gas sales across the Finland-Baltic gas market for the year was 24.3%. Real estate Infortar's real estate portfolio has expanded from 100,000 to 141,000 square meters over the past year. At the end of last year, the Rimi logistics center in Saue received its occupancy permit. This summer, a new bridge in Pärnu will be completed, followed by the opening of Lasnamäe's second DEPO store in Estonia next year. In early 2028, the Kangru-Saku section of the Rail Baltica main route will also be completed. Key figures of financial year +------------------------------------------------------------------------------+ |Key figures Q4 2024 Q4 2023 12 months 2024 12 months 2023| | | |Sales revenue, mEUR 446.168 337.734 1 371.775 1 084.626 | | | |Gross profit, mEUR 34.871 42.235 128.629 149.473 | | | |EBITDA, mEUR 27.892 37.418 145.415 143.283 | | | |EBITDA margin (%) 6.3% 11.1% 10.6% 13.2% | | | |Net profit, EBIT, mEUR -6.792 28.967 77.025 123.628 | | | |Total profit(-loss), mEUR -11.988 24.206 175.351 293.830 | | | |Net profit (-loss) holders of -11.188 24.232 172.934 293.778 | |the Parent mEUR | | | |EPS (euros)* -0.54 1.18 8.46 14.62 | | | |Total equity mEUR 1 166.222 820.210 1 166.222 820.210 | | | |Total liabilities mEUR 1 223.287 441.160 1 223.287 441.160 | | | |Net debt mEUR 1 055.708 354.045 1 055.708 354.045 | | | |Investment loans to EBITDA 3.0x 1.7x 3.0x 1.7x | |(ratio) | +------------------------------------------------------------------------------+ Earnings per share (EPS) in euros is calculated using the following formula: the profit attributable to the parent company's owners is divided by the weighted average number of ordinary shares (20,443,629 as of 31.12.2024 and 20,100,000 as of 31.12.2023). The number of shares, 20,443,629, is determined as follows: Infortar has a total of 21,166,239 issued ordinary shares, from which 722 610 own shares are deducted. These own shares were issued under the employee stock option program and have not been exercised. Revenue 2024. financial year, the group´s consolidated sales revenue increased by 287.149 million euros reaching 1 371.775 million euros (compared to 1 084.626 million euros in 2023). A significant impact was made by the consolidation of Tallink Grupp's results into Infortar's consolidated financial statements starting from August 1, 2024. EBITDA and Segment Reporting Maritime transport Segment: The EBITDA for the maritime transport segment in 2024 financial year was 175.181 million euros (compared to 214.528 million euros in the 2023 financial year). In segment reporting 100% Tallink results are presented. Tallink´s financial results were affected by difficult economic environment across all our home markets, and the lowest consumer confidence levels in a decade. Energy Segment: The EBITDA for the energy segment of the 2024 financial year was 77.235 million euros (compared to 135.999 million euros in 2023). Warmer winter led to a decrease in sales volumes, which in turn impacted profitability in the fourth quarter. Real Estate Segment: The profitability assessment considers the EBITDA of individual real estate companies. The EBITDA for the real estate segment of the 2024 financial year was 13.567 million euros (compared to 12.39 million euros in 2023). Three new buildings at Liivalaia 9, Tähesaju 9, and Tähesaju 11 were included in the accounting for the 2023 financial year. Net Profit The consolidated net profit for the 2024 financial year was 175.351 million euros (compared to 293.83 million euros in 2023 financial year). One-time significant transactions impacting the net profit calculation for the 2023 financial year included the effects related to the acquisition of the Latvian gas distribution network company, Gaso. The consolidated operating profit for the 2024 financial year was 77.025 million euros (compared to 123.628 million euros in the 2023 financial year). Investments Infortar entered the agricultural sector by acquiring one of Estonia's largest dairy farms in Halinga and began constructing a biogas plant next to the farm for local gas production. Infortar invested 110 million euros in purchasing Tallink shares, increasing its shareholding in Tallink to 68,5%. Infortar subsidiary Elenger signed a 120 million euros agreement with the German energy group EWE AG to acquire EWE Group's entire Polish business. The transaction includes the natural gas distribution network in Western Poland as well as all energy sales operations. In the fourth quarter Infortar Group's total investments amounted to approximately 140 million euros, reaching 279 million euros over twelve months. Financing Loan and lease liabilities amounted to 1 223.287 million euros in 2024 financial year (compared to 441.16 million euros in 2023 financial year). Significant increase in the 2024 financial year is primarily due to the line-by-line consolidation of Tallink Grupp, which resulted in the full inclusion of Tallink's liabilities among the group's obligations. Proportionally to the growth in assets, Infortar's net debt increased by 701.663 million euros, reaching 1 055.708 million euros (compared to 354,045 million euros in 2023 financial year). The net debt to EBITDA ratio was 3.4. Dividends According to the dividend policy, the objective is to pay dividends of at least 1 euro per share per finiancial year. Dividend payments are made semi-annually. Infortar Group's management proposes to pay a dividend of 3 euros per share for the 2024 financial year results. According to the proposal, the first payout is planned to be made no later than July, and the second payout in December 2025. The dividend consists of three parts: 1 euro per share, as per the dividend policy. Carried-over dividend from AS Tallink Grupp, which is rounded upwards. Additional dividend based on the high deliveries of the financial results in 2024. AS Infortar has a total of 21,166,239 shares, of which 722 610 are company´s own shares. Dividends are therefore paid for 20,443,629 shares, which amounts to approximately 61 million euros. Consolidated statement of profit or loss and other comprehensive income +------------------------------------------------------------------------------+ |(in thousands of EUR) Q4 2024 Q4 2023 12 months 2024 12 months 2023| | | |Revenue 446 168 337 734 1 371 775 1 084 626| | | |Cost of goods (goods and | |services) sold -411 237 -295 439 -1 243 033 -934 811| | | |Write-down of receivables -60 -60 -113 -342| | | |Gross profit 34 871 42 235 128 629 149 473| | | |Marketing expenses -12 459 -511 -21 086 -1 620| | | |General administrative | |expenses -22 759 -9 522 -50 438 -22 085| | | |Profit (loss) from biological | |assets -156 0 -139 0| | | |Profit (loss) from the change | |in the fair value of the | |investment property -6 749 -4 074 -9 640 -4 074| | | |Unsettled gain/loss on | |derivative financial | |instruments 2 098 902 26 672 1 969| | | |Other operating revenue -767 1 458 4 682 2 523| | | |Other operating expenses -871 -1 521 -1 655 -2 558| | | |Operating profit -6 792 28 967 77 025 123 628| | | | | | | |(in thousands of EUR) Q4 2024 Q4 2023 12 months 2024 12 months 2023| | | |Profit (loss) from investments | |accounted for by equity method 846 1 938 22 974 39 639| | | |Financial income and expenses | | | |Other financial investments 269 54 72 789 -4| | | |Interest expense -13 808 -8 569 -38 274 -22 573| | | |Interest income 760 465 4 979 2 765| | | |Profit (loss) from changes in | |exchange rates -56 -13 100 -173| | | |Other financial income and | |expenses 16 287 -58 15 892 159 158| | | |Total financial income and | |expenses 3 452 -8 121 55 486 139 173| | | |Profit before tax -2 494 22 784 155 485 302 440| | | |Corporate income tax -9 494 1 422 19 866 -8 610| | | |Profit for the financial year -11 988 24 206 175 351 293 830| | | |including: | | | |Profit attributable to the | |owners of the parent company -11 188 24 232 172 934 293 778| | | |Profit attributable to non- | |controlling interest -800 -26 2 417 52| | | | | | | |Other comprehensive income 12 months 2024 12 months 2023| | | |Revaluation of risk hedging instruments -46 786 -58 233| | | |Exchange rate differences attributable to | |foreign subsidiaries 53 -42| | | |Total of other comprehensive income -46 733 -58 275| | | |Total income, including: 128 618 235 555| | | |including: | | | |Comprehensive profit attributable to the owners | |of the parent company 126 201 235 503| | | |Comprehensive profit attributable to non- | |controlling interest 2 417 52| | | |Ordinary earnings per share (in euros per share) 8,46 14,26| | | |Diluted earnings per share (in euros per share) 8,16 14,10| +------------------------------------------------------------------------------+ Consolidated statement of financial position +-----------------------------------------------------------------------------+ |(in thousands of EUR) 31.12.24 31.12.23| | | |Current assets | | | |Cash and cash equivalents 167 579 87 115| | | |Short term financial investments 1 0| | | |Derivative financial assets 8 333 28 728| | | |Settled derivative receivables 676 5 958| | | |Other prepayments and receivables 155 351 162 575| | | |Prepayments for taxes 3 831 925| | | |Trade and other receivables 38 517 20 185| | | |Prepayments for inventories 2 498 3 493| | | |Inventories 215 914 146 884| | | |Biological assets 941 0| | | |Total current assets 593 641 455 863| | | | | | | |Non-current assets 31.12.24 31.12.23| | | |Investments to associates 16 603 346 014| | | |Long-term derivative instruments 3 214 1 125| | | |Long-term loans and other receivables 35 163 9 072| | | |Investment property 67 931 176 024| | | |Property, plant and equipment 1 909 458 446 748| | | |Intangible assets 38 874 14 366| | | |Right-of-use assets 47 598 11 300| | | |Biological assets 2 753 0| | | |Total non-current assets 2 121 594 1 004 649| | | |TOTAL ASSETS 2 715 235 1 460 512| | | | | | | |(in thousands of EUR) 31.12.24 31.12.23| | | |Current liabilities | | | |Loan liabilities 477 162 184 259| | | |Rental liabilities 9 020 1 766| | | |Payables to suppliers 87 941 74 751| | | |Tax obligations 49 354 32 822| | | |Buyers' advances 31 126 3 099| | | |Settled derivatives 8 728 1 463| | | |Other current liabilities 63 431 10 851| | | |Short term derivatives 27 704 3 659| | | |Total current liabilities 754 446 312 670| | | | | | | |Non-current liabilities 31.12.24 31.12.23| | | |Long-term provisions 9 946 8 399| | | |Deferred taxes 2 816 33 233| | | |Other long-term liabilities 43 209 30 679| | | |Long-term derivatives 1 471 186| | | |Loan-liabilities 696 670 246 410| | | |Rental liabilities 40 435 8 725| | | |Total non-current liabilities 794 547 327 632| | | |TOTAL LIABILITIES 1 549 013 640 302| | | | | | | |(in thousands of EUR) 31.12.24 31.12.23| | | |Equity | | | |Share capital 2 117 2 105| | | |Own shares -72 -95| | | |Share premium 32 484 29 344| | | |Reserve capital 212 205| | | |Option reserve 6 223 3 864| | | |Hedging reserve* 7 455 24 118| | | |Unrealised currency translation differences 1 113 -39| | | |Employment benefit reserve -44 -44| | | |Retained earnings 698 914 466 140| | | |Net profit of the financial year 172 934 293 778| | | |Total equity attributable to equity holders of the Parent 921 336 819 376| | | |Minority interests 244 886 834| | | |Total equity 1 166 222 820 210| | | | | | | |TOTAL LIABILITIES AND EQUITY 2 715 235 1 460 512| +-----------------------------------------------------------------------------+ Consolidated statement of cash flows +------------------------------------------------------------------------------+ |Cash flows from operating activities | | | | 12 months 12 months| |(in thousands of EUR) 2024 2023| | | |Profit for the financial year 175 351 293 830| | | |Adjustments: | | | |Depreciation, amortization, and impairment of non-current | |assets 58 611 15 581| | | |Change in the fair value of the investment property 9 640 4 074| | | |Equity profits/losses -156 863 -39 639| | | |Change in the value of derivatives 20 888 54 309| | | |Other financial income/expenses -827 -161 965| | | |Calculated interest expenses 38 274 22 573| | | |Profit/loss from non-current assets sold -953 -91| | | |Income from grants recognized as revenue 2 984 784| | | |Corporate income tax expense -19 866 8 610| | | |Income tax paid -10 551 -267| | | |Change in receivables and prepayments related to operating | |activities 52 022 54 539| | | |Change in inventories -12 830 -61 915| | | |Change in payables and prepayments relating to operating | |activities -22 278 -591| | | |Change in biological assets -322 0| | | |Total cash flows from operating activities 133 280 189 832| | | | | | | | 12 months 12 months| |Cash flows from investing activities 2024 2023| | | |Purchases of associates 0 -10 314| | | |Purchases of subsidiaries -155 313 -103 414| | | |Received dividends 20 862 0| | | |Given loans 1 918 6 652| | | |Interest gain 4 953 2 691| | | |Purchases Investment property -5 071 -18 304| | | |Purchases of property, plant and equipment -38 332 -18 143| | | |Proceeds from sale of property 1 559 -252| | | |Total cash flows used in investing activities -169 424 -141 084| | | | | | | | 12 months 12 months| |Cash flows used in financing activities 2024 2023| | | |Changes in overdraft 12 863 14 349| | | |Proceeds from borrowings 358 733 130 567| | | |Repayments of borrowings -151 790 -155 808| | | |Repayment of finance lease liabilities -6 222 -2 233| | | |Interest paid -39 153 -22 224| | | |Dividends paid -60 997 -15 750| | | |Gain from share emission 3 174 29 464| | | |Total cash flows used in financing activities 116 608 -21 635| | | | 0 0| | | |TOTAL NET CASH FLOW 80 464 27 113| | | |Cash at the beginning of the year 87 115 60 002| | | |Cash at the end of the period 167 579 87 115| | | |Net (decrease)/increase in cash 80 464 27 113| +------------------------------------------------------------------------------+ Infortar operates in seven countries, the company's main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,228 people. Additional information: Kadri Laanvee Investor Relations Manager Phone: +372 5156662 e-mail: [email protected] (mailto:[email protected]) www.infortar.ee/en/investor (http://www.infortar.ee/en/investor)