Market announcement
AS Tallink Grupp
LEI code
529900QRMWAKKR3L9W75
Size of the entity
Large group
Economic activities
Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles, Transportation and Storage, Accommodation and Food Service Activities, Administrative and Support Service Activities
Country of registered office
Estonia
General information
This announcement has been corrected.
Corrected version
Categories
Management interim statement or quarterly financial report
Unique data record identifier
2803
Attachments
Submission date and time
15.07.2010 16:07:36
Content of announcement in Estonian
Title
2009/2010 majandusaasta III kvartali majandustulemused
Message
AS-i Tallink Grupp ja tema tütarettevõtete (edaspidi ”Kontsern”) 2009/2010
majandusaasta kolmanda kvartali (01.03.2010-31.05.2010) auditeerimata müügitulu
ulatus rekordilise 202 miljoni euroni (3 167 miljoni kroonini). Võrreldes
eelmise majandusaasta kolmanda kvartaliga kasvas müügitulu enam kui 26 miljoni
euro (415 miljoni krooni) ehk 15% võrra. Kontserni finantskulude, maksude,
intresside ja kulumi eelne kasum (EBITDA) oli kolmandas kvartalis 30 miljonit
eurot (469 miljonit krooni), mis on ligi 16 miljoni euro (246 miljoni krooni)
võrra suurem kui eelmise majandusaasta kolmandas kvartalis. Kontserni kolmanda
kvartali tulemused vastasid juhtkonna ootustele lisades kindlust, et tähelepanu
ja läbiviidud tegevused on olnud õigetel valdkondadel.
Tulemuste märgatav paranemine kolmandas kvartalis oli mõjutatud enamjaolt
reisijate mahtude kasvust ja tulu suurenemisest reisija kohta, millele aitas
kaasa suurem rõhuasetus tulude maksimeerimisel ja tootevalikul. Võrreldes
eelmise majandusaasta kolmanda kvartaliga kasvas reisijate arv 18% ulatudes
2,16 miljoni reisijani, mis on Kontserni kõigi aegade parim kolmanda kvartali
tulemus. Mõju avaldas ka sesoonsus, mis käesoleval majandusaastal oli enam
kolmanda kvartali kasuks, kuna mitmed positiivsed sündmused - osaliselt
talvepuhkused ja müügikampaaniad toimusid teise kvartali asemel kolmandas.
Tulenevalt jätkuvalt kõrgest rõhuasetusest kulude kontrollile on kolmandas
kvartalis ja ka käesoleval majandusaastal tervikuna paranenud Kontserni
kasumlikus ning kasumimarginaalid. Kuigi kõrgemate kütusehindade tõttu kasvas
kolmandas kvartalis kütusekulu 8 miljoni euro (125 miljoni krooni) võrra,
paranes Kontserni tulemus samal ajal tänu tugevale käibekasvule.
Administratiivkulud vähenesid kolmandas kvartalis jätkuvalt 13% võrra võrreldes
eelmise majandusaasta kolmanda kvartaliga, märkides seega juba kümnendat
järjestikust kvartalit kui administratiivkulud on vähenenud.
Kontsern on viimaste aastate investeeringutega liinidele toodud uute laevade
näol teinud läbi märkimisväärse arengu pakutavate toodete ja teenuste ning
nende kvaliteedi osas. Nüüd on tähelepanu liikunud detailsemale tasemele
tootearenduses, mille roll on sama oluline. Kuigi kliendirahulolu on näidanud
tuntavat tõusu, jätkab juhtkond sellesse panustamist paralleelselt
personaliarendusega läbi ulatuslike koolituste ning täiustatud
motiveerimisskeemide. Kõrge kliendirahulolu, personali motiveeritus ning
kvaliteetsed tooted ja teenused on olulised tegurid, et parandada Kontserni
tegevuse tulemusi. Lähi- ja keskpika perspektiivi tegevused hõlmavad muuhulgas
internetimüügi süsteemi ning püsikliendiprogrammi parendamist.
Juhtkonna kõrgendatud tähelepanu on jätkuvalt kuluefektiivsusel ning Kontserni
tulemuste parandamisel. Prioriteetne on vanade ja mittetootlike laevade
rentimine või müük. Hetkel on käimas mitmed erinevad läbirääkimised vanade ja
mittetootlike laevade müügi või rendile andmise osas.
--------------------------------------------------------------------------------
| III KV. PÕHINÄITAJAD | III kv. 2009/2010 |III kv. 2008/2009| Muutus % |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR | |
--------------------------------------------------------------------------------
| Müügitulu (miljon) | 3 167 | 202.4 | 2 752 | 175.9 | 15% |
--------------------------------------------------------------------------------
| Brutokasum(miljon) | 576 | 36.8 | 362 | 23.2 | 59% |
--------------------------------------------------------------------------------
| Brutokasumi marginaal | 18% | | 13% | | |
--------------------------------------------------------------------------------
| EBITDA (miljon) | 469 | 30.0 | 223 | 14.3 | 110% |
--------------------------------------------------------------------------------
| EBITDA marginaal | 15% | | 8% | | |
--------------------------------------------------------------------------------
| Puhaskasum/-kahjum (miljon) | -47 | -3.0 | -320 | -17.2 | 82% |
--------------------------------------------------------------------------------
| Puhaskasumi marginaal | -1% | | -10% | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Amortisatsioon (miljon) | 279 | 17.9 | 266 | 17.0 | 5% |
--------------------------------------------------------------------------------
| Investeeringud (miljon) | 21 | 1.3 | 2 298 | 146.8 | -99% |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Aktsiate kaalutud keskmine | 669 882 040 | 669 882 040 | 0% |
| arv kolmanda kvartali | | | |
| jooksul* | | | |
--------------------------------------------------------------------------------
| Aktsiakasum | -0.07 | -0.00 | -0.40 | -0.03 | 82% |
--------------------------------------------------------------------------------
| | | | |
--------------------------------------------------------------------------------
| Reisijate arv | 2 156 448 | 1 829 367 | 18% |
--------------------------------------------------------------------------------
| Kaubaveo ühikud | 68 991 | 60 477 | 14% |
--------------------------------------------------------------------------------
| Keskmine töötajate arv | 6 501 | 6 805 | -5% |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| | 31.05.2010 | 28.02.2010 | |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR | |
--------------------------------------------------------------------------------
| Varad kokku (miljon) | 29 475 | 1 884 | 29 545 | 1 888 | -0.2% |
--------------------------------------------------------------------------------
| Kohustused kokku (miljon) | 19 716 | 1 260 | 19 733 | 1 261 | -0.1% |
--------------------------------------------------------------------------------
| Intressi kandvad kohustused | 17 544 | 1 121 | 17 770 | 1 136 | -1.3% |
| (miljon) | | | | | |
--------------------------------------------------------------------------------
| Omakapital kokku (miljon) | 9 759 | 624 | 9 812 | 627 | -0.5% |
--------------------------------------------------------------------------------
| Omakapitali määr | 33% | | 33% | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Aktsiate arv* | 669 882 040 | 669 882 040 | 0% |
--------------------------------------------------------------------------------
| Omakapital aktsia kohta | 14.6 | 0.94 | 14.6 | 0.94 | -0.5% |
--------------------------------------------------------------------------------
EBITDA - finantskulude, maksude, intresside, kulumi eelne kasum;
Aktsiakasum - Puhaskasum / Kaalutud keskmine aktsiate arv;
Omakapitali määr - Omakapital kokku / Varad kokku;
Omakapital aktsia kohta - Omakapital / Aktsiate arv;
Brutokasumi marginaal - Brutokasum / Müügitulu;
EBITDA marginaal - EBITDA / Müügitulu;
Puhaskasumi marginaal - Puhaskasum / Müügitulu;
*Ei sisalda omaaktsiaid.
Kontserni neto finantskulud ulatusid 2009/2010 majandusaasta kolmandast
kvartalis 15 miljoni euroni (237 miljoni kroonini), mis on ligikaudu sama
taseme eelmise majandusaasta kolmanda kvartaliga võrreldes.
Kontserni auditeerimata puhaskahjum 2009/2010 majandusaasta kolmandas kvartalis
oli 3 miljonit eurot (47 miljonit krooni). Eelmise majandusaasta kolmandas
kvartalis oli kahjum 17 miljonit eurot (270 miljonit krooni). Käesoleva
majandusaasta üheksa kuu kahjum on 21 miljonit eurot (321 miljonit krooni), mis
on 19 miljoni euro (303 miljoni krooni) võrra parem kui 2008/2009 majandusaasta
üheksa kuu kahjum.
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.12.2009- 01.12.2008- 01.09.2009- 01.09.2008-
kroonides) 28.02.2010 28.02.2009 28.02.2010 28.02.2009
Müügitulu 2,471,947 2,619,011 5,308,780 5,650,360
Müüdud kaupade ja teenuste kulu -2,244,420 -2,264,213 -4,570,365 -4,691,564
Brutokasum 227,527 354,798 738,415 958,796
Turustuskulud -194,348 -186,978 -421,934 -402,634
Halduskulud -156,225 -193,410 -302,471 -369,004
Muud äritulud 1,166 589 8,238 3,745
Muud ärikulud 2,195 -2,856 -590 -3,127
Kasum/-kahjum äritegevusest -119,685 -27,857 21,658 187,776
Finantstulud 99,476 10,261 112,205 97,772
Finantskulud -234,438 -305,714 -407,128 -639,521
Kahjum enne tulumaksu -254,647 -323,310 -273,265 -353,973
Tulumaks 0 -18 0 -18
Aruandeperioodi puhaskahjum -254,647 -323,328 -273,265 -353,991
Muu koondkasum/-kahjum
Valuutakursi vahed 22,900 7,790 11,448 1,379
välisettevõtetest
Riskimaandamise instrumendid -485 -26,317 17,508 -110,543
Perioodi muu koondkasum/-kahjum 22,415 -18,527 28,956 -109,164
kokku
Perioodi koondkasum/-kahjum -232,232 -341,855 -244,309 -463,155
kokku
Sh.
Emaettevõtte omanike osa -254,647 -323,328 -273,265 -353,991
puhaskahjumist
Sh.
Emaettevõtte omanike osa -232,232 -341,855 -244,309 -463,155
koondkasumist/-kahjumist
Kahjum aktsia kohta (EEK-ides
ühe aktsia kohta)
- tava -0.38 -0.48 -0.41 -0.53
- lahustatud -0.38 -0.48 -0.41 -0.53
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.12.2009- 01.12.2008- 01.09.2009- 01.09.2008-
eurodes) 28.02.2010 28.02.2009 28.02.2010 28.02.2009
Müügitulu 157,986 167,385 339,293 361,124
Müüdud kaupade ja teenuste kulu -143,445 -144,710 -292,100 -299,846
Brutokasum 14,541 22,675 47,193 61,278
Turustuskulud -12,422 -11,950 -26,967 -25,733
Halduskulud -9,984 -12,361 -19,331 -23,584
Muud äritulud 75 39 527 240
Muud ärikulud 140 -183 -38 -200
Kasum/-kahjum äritegevusest -7,650 -1,780 1,384 12,001
Finantstulud 6,358 656 7,171 6,249
Finantskulud -14,983 -19,539 -26,020 -40,873
Kahjum enne tulumaksu -16,275 -20,663 -17,465 -22,623
Tulumaks 0 -1 0 -1
Aruandeperioodi puhaskahjum -16,275 -20,664 -17,465 -22,624
Muu koondkasum/-kahjum
Valuutakursi vahed 1,463 497 732 89
välisettevõtetest
Riskimaandamise instrumendid -31 -1,682 1,119 -7,065
Perioodi muu koondkasum/-kahjum 1,432 -1,185 1,851 -6,976
kokku
Perioodi koondkasum/-kahjum kokku -14,843 -21,849 -15,614 -29,600
Sh.
Emaettevõtte omanike osa -16,275 -20,664 -17,465 -22,624
puhaskahjumist
Sh.
Emaettevõtte omanike osa -14,843 -21,849 -15,614 -29,600
koondkasumist/-kahjumist
Kahjum aktsia kohta (EUR-ides ühe
aktsia kohta)
- tava -0.02 -0.03 -0.03 -0.03
- lahustatud -0.02 -0.03 -0.03 -0.03
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes kroonides)
VARAD 28.02.2010 31.08.2009
Käibevara
Raha ja raha ekvivalendid 536,638 782,043
Nõuded 621,617 797,762
Ettemaksed 267,919 179,892
Derivatiivid 17,086 6,493
Varud 279,494 297,527
Käibevara kokku 1,722,754 2,063,717
Põhivara
Investeeringud sidusettevõtetesse 9,180 0
Muud finantsvarad ja ettemaksed 7,007 7,664
Edasilükkunud tulumaksuvara 207,453 207,455
Kinnisvarainvesteering 4,694 4,694
Materiaalne põhivara 26,498,311 27,049,393
Immateriaalne põhivara 1,095,321 1,134,738
Põhivara kokku 27,821,966 28,403,944
VARAD KOKKU 29,544,720 30,467,661
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Intressikandvad võlakohustused 1,604,146 1,655,760
Muud võlad 1,375,302 1,415,762
Ettemakstud tulud 374,604 331,323
Derivatiivid 212,293 179,842
Lühiajalised kohustused kokku 3,566,345 3,582,687
Pikaajalised kohustused
Intressikandvad võlakohustused 16,165,431 16,827,627
Muud kohustused 1,236 1,330
Pikaajalised kohustused kokku 16,166,667 16,828,957
Kohustused kokku 19,733,012 20,411,644
OMAKAPITAL
Emaettevõtja aktsionäridele kuuluv omakapital
Aktsiakapital nimiväärtuses 6,738,170 6,738,170
Ülekurss 9,999 9,999
Reservid 1,153,365 1,124,409
Jaotamata kasum 1,910,174 2,183,439
Emaettevõtte omanikele kuuluv omakapital kokku 9,811,708 10,056,017
OMAKAPITAL KOKKU 9,811,708 10,056,017
KOHUSTUSED JA OMAKAPITAL KOKKU 29,544,720 30,467,661
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 28.02.2010 31.08.2009
Käibevara
Raha ja raha ekvivalendid 34,297 49,982
Nõuded 39,729 50,986
Ettemaksed 17,123 11,497
Derivatiivid 1,092 415
Varud 17,863 19,015
Käibevara kokku 110,104 131,895
Põhivara
Investeeringud sidusettevõtetesse 587 0
Muud finantsvarad ja ettemaksed 447 490
Edasilükkunud tulumaksuvara 13,259 13,259
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,693,551 1,728,771
Immateriaalne põhivara 70,004 72,523
Põhivara kokku 1,778,148 1,815,343
VARAD KOKKU 1,888,252 1,947,238
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Intressikandvad võlakohustused 102,524 105,822
Muud võlad 87,898 90,484
Ettemakstud tulud 23,942 21,175
Derivatiivid 13,568 11,494
Lühiajalised kohustused kokku 227,932 228,975
Pikaajalised kohustused
Intressikandvad võlakohustused 1,033,159 1,075,482
Muud kohustused 79 85
Pikaajalised kohustused kokku 1,033,238 1,075,567
Kohustused kokku 1,261,170 1,304,542
OMAKAPITAL
Emaettevõtja aktsionäridele kuuluv omakapital
Aktsiakapital nimiväärtuses 430,648 430,648
Ülekurss 639 639
Reservid 73,713 71,862
Jaotamata kasum 122,082 139,547
Emaettevõtte omanikele kuuluv omakapital kokku 627,082 642,696
OMAKAPITAL KOKKU 627,082 642,696
KOHUSTUSED JA OMAKAPITAL KOKKU 1,888,252 1,947,238
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes kroonides) 01.09.2009- 01.09.2008-
28.02.2010 28.02.2009
Rahavood äritegevusest
Aruandeperioodi puhaskahjum -273,265 -353,991
Korrigeerimised 961,261 1,048,050
Äritegevusega seotud varade muutused 105,211 435,376
Äritegevusega seotud kohustuste muutused -83,141 -362,948
Makstud tulumaks -763 -258
709,303 766,229
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse vara -66,628 -224,337
soetamine
Laekumised materiaalse põhivara müügist 99,721 17,693
Sidusettevõtte soetamine -9,180 -6,120
Laekumised/-maksed derivatiividest -30,543 1,524
Saadud intressid 2,492 5,232
-4,138 -206,008
Rahavood finantseerimistegevusest
Laekumised laenudest 0 187,759
Laenude tagasimaksed -573,688 -888,080
Kasutatud arvelduskrediidi muutus -21,510 103,791
Kapitalirendi põhimaksete tasumine -2,447 -3,875
Makstud intressid -352,925 -541,029
-950,570 -1,141,434
RAHAVOOD KOKKU -245,405 -581,213
Raha ja raha ekvivalendid
- perioodi alguses 782,043 1,043,785
- suurenemine (+) / vähenemine (-) -245,405 -581,213
- perioodi lõpus 536,638 462,572
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.09.2009- 01.09.2008-
28.02.2010 28.02.2009
Rahavood äritegevusest
Aruandeperioodi puhaskahjum -17,465 -22,624
Korrigeerimised 61,436 66,983
Äritegevusega seotud varade muutused 6,725 27,826
Äritegevusega seotud kohustuste muutused -5,314 -23,197
Makstud tulumaks -49 -16
45,333 48,972
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse vara -4,259 -14,337
soetamine
Laekumised materiaalse põhivara müügist 6,374 1,131
Sidusettevõtte soetamine -587 -391
Laekumised/-maksed derivatiividest -1,952 97
Saadud intressid 159 334
-265 -13,166
Rahavood finantseerimistegevusest
Laekumised laenudest 0 12,000
Laenude tagasimaksed -36,665 -56,759
Kasutatud arvelduskrediidi muutus -1,375 6,633
Kapitalirendi põhimaksete tasumine -157 -248
Makstud intressid -22,556 -34,578
-60,753 -72,952
RAHAVOOD KOKKU -15,685 -37,146
Raha ja raha ekvivalendid
- perioodi alguses 49,982 66,710
- suurenemine (+) / vähenemine (-) -15,685 -37,146
- perioodi lõpus 34,297 29,564
Janek Stalmeister
Juhatuse liige
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]
Harri Hanschmidt
Investorsuhete juht
AS Tallink Grupp
Sadama 5/7, 10111 Tallinn
Tel +372 640 8981
Skype harri.hanschmidt
E-mail [email protected]
Content of announcement in English
Title
Q3 results of the 2009/2010 financial year
Message
In the third quarter (01.03.2010-31.05.2010) of the financial year 2009/2010 AS
Tallink Grupp and its subsidiaries' (The Group) unaudited revenue reached the
record breaking level of EUR 202 million (EEK 3 167 million). Compared to the
third quarter of the previous financial year the revenue grew more than EUR 26
million (EEK 415 million) or 15%. The Group's earnings before interest, taxes,
depreciation and amortisation (EBITDA) were EUR 30 million (EEK 469 million)
which is nearly EUR 16 million higher than in the third quarter of the previous
financial year. The third quarter results meet the management expectations and
add comfort that the Group's focus areas and related actions have been right.
This noticeable improvement in Q3 was influenced by strong passenger volumes
and continued recovery in the passenger revenues as more effort has been put to
capacity and revenue management and product offering. In the third quarter the
passenger numbers increased by 18% year on year to 2.16 million passengers -
setting a new all time record for the third quarter. The seasonality of the
current financial year was more in favour of the third quarter whereby in
comparison to last year several positive factors, partly holidays and product
campaigns took place in the third quarter instead of the second.
Due to continuing emphasis on the cost control, the Group's EBITDA margin has
improved both in the third quarter and also on a cumulative basis for the
current financial year. In the third quarter the Group's result improved as a
result of the strong growth of the revenue, despite the price driven increase
in fuel costs by EUR 8 million (EEK 125 million). In the third quarter the
general administration costs decreased by 13% year on year, making it the 10th
consecutive quarter with cost improvement.
By introducing several new vessels during the previous years the Group has gone
through significant product improvement. Now the focus has moved to the more
detailed level of product development which is an equally important aspect. The
Group continues to put high efforts on the value of the customer satisfaction
and in parallel to the personnel development through more extensive specialized
education and enhanced motivation schemes. Satisfied customers, quality product
offering and motivated personnel are the key factors for the Group to improve
the operations and results. In a short to mid term outlook the Group's
activities involve amongst other the enhancement of the online reservation
system and the loyal customer program.
The Management continues to focus on the cost efficiency and on the improvement
of the Group results. The sale or charter of older and non performing vessels
is a high priority. There are currently several negotiations open to either
charter or sell some of the older and non performing vessels.
--------------------------------------------------------------------------------
| Q3 KEY FIGURES | Q3 2009/2010 | Q3 2008/2009 | Change % |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR | |
--------------------------------------------------------------------------------
| Net sales (million) | 3 167 | 202.4 | 2 752 | 175.9 | 15% |
--------------------------------------------------------------------------------
| Gross profit (million) | 576 | 36.8 | 362 | 23.2 | 59% |
--------------------------------------------------------------------------------
| Gross margin | 18% | | 13% | | |
--------------------------------------------------------------------------------
| EBITDA (million) | 469 | 30.0 | 223 | 14.3 | 110% |
--------------------------------------------------------------------------------
| EBITDA margin | 15% | | 8% | | |
--------------------------------------------------------------------------------
| Net profit/-loss (million) | -47 | -3.0 | -320 | -17.2 | 82% |
--------------------------------------------------------------------------------
| Net profit margin | -1% | | -10% | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Depreciation & amort. | 279 | 17.9 | 266 | 17.0 | 5% |
| (million) | | | | | |
--------------------------------------------------------------------------------
| Investments (million) | 21 | 1.3 | 2 298 | 146.8 | -99% |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Weighted average number of | 669 882 040 | 669 882 040 | 0% |
| ordinary shares outstanding | | | |
| during Q3* | | | |
--------------------------------------------------------------------------------
| Earnings per share | -0.07 | -0.00 | -0.40 | -0.03 | 82% |
--------------------------------------------------------------------------------
| | | | |
--------------------------------------------------------------------------------
| Number of passengers | 2 156 448 | 1 829 367 | 18% |
--------------------------------------------------------------------------------
| Cargo units | 68 991 | 60 477 | 14% |
--------------------------------------------------------------------------------
| Average number of employees | 6 501 | 6 805 | -5% |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| | 31.05.2010 | 28.02.2010 | |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR | |
--------------------------------------------------------------------------------
| Total assets (million) | 29 475 | 1 884 | 29 545 | 1 888 | -0.2% |
--------------------------------------------------------------------------------
| Total liabilities (million) | 19 716 | 1 260 | 19 733 | 1 261 | -0.1% |
--------------------------------------------------------------------------------
| Interest-bearing | 17 544 | 1 121 | 17 770 | 1 136 | -1.3% |
| liabilities (million) | | | | | |
--------------------------------------------------------------------------------
| Total equity (million) | 9 759 | 624 | 9 812 | 627 | -0.5% |
--------------------------------------------------------------------------------
| Equity ratio | 33% | | 33% | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Number of ordinary shares | 669 882 040 | 669 882 040 | 0% |
| outstanding* | | | |
--------------------------------------------------------------------------------
| Shareholders' equity per | 14.6 | 0.94 | 14.6 | 0.94 | -0.5% |
| share | | | | | |
--------------------------------------------------------------------------------
Net profit margin - net profit / net sales;
EBITDA - Earnings before net financial items, taxes, depreciation and
amortization;
EBITDA margin - EBITDA / net sales;
Gross margin - gross profit / net sales;
Net profit margin - net profit / net sales;
Equity ratio - total equity / total assets;
Earnings per share - net profit / weighted average number of shares outstanding;
Shareholder's equity per share - shareholder's equity / number of shares
outstanding.
* Share numbers exclude own shares.
The Group's net financial expenses in the third quarter were EUR 15 million
(EEK 237 million) being approximately on the same level compared to the third
quarter of the previous financial year.
The Group's unaudited net loss for the third quarter of the 2009/2010 financial
year was EUR 3 million (EEK 47 million). In the third quarter of the previous
financial year the net loss was EUR 17 million (EEK 270 million). Accumulated
net loss for the nine months of current, 2009/2010 financial year is EUR 21
million (EEK 321 million) which is a EUR 19 million (EEK 303 million)
improvement compared to the nine months of the 2008/2009 financial year.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of 01.03.2010- 01.03.2009- 01.09.2009- 01.09.2008-
EEK) 31.05.2010 31.05.2009 31.05.2010 31.05.2009
Revenue 3,167,117 2,752,006 8,475,897 8,402,366
Cost of sales -2,591,143 -2,389,378 -7,161,508 -7,080,942
Gross profit 575,974 362,628 1,314,389 1,321,424
Marketing expenses -205,608 -220,619 -627,542 -623,253
Administrative expenses -159,102 -183,610 -461,573 -552,614
Other income 4,126 382 12,364 4,127
Other expenses -25,913 -1,459 -26,503 -4,586
Results from operating 189,477 -42,678 211,135 145,098
activities
Financial income -28,435 21,829 83,770 119,601
Financial expenses -208,288 -249,784 -615,416 -889,305
Share of profit of associates 0 782 0 782
Loss from normal operation -47,246 -269,851 -320,511 -623,824
before income tax
Income tax 0 18 0 0
Net loss for the period -47,246 -269,833 -320,511 -623,824
Other comprehensive income/-
expense
Exchange differences on -3,742 -5,409 7,706 -4,030
translating foreign
operations
Cash flow hedges -1,627 98,386 15,881 -12,157
Other comprehensive income/- -5,369 92,977 23,587 -16,187
expense for the period
Total comprehensive income/- -52,615 -176,856 -296,924 -640,011
expense for the period
Loss attributable to:
Equity holders of the -47,246 -269,833 -320,511 -623,824
parent
Total comprehensive income/-
expense attributable to:
Equity holders of the -52,615 -176,856 -296,924 -640,011
parent
Earnings per share (in EEK
per share)
- basic -0.07 -0.40 -0.48 -0.93
- diluted -0.07 -0.40 -0.48 -0.93
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of 01.03.2010- 01.03.2009- 01.09.2009- 01.09.2008-
EUR) 31.05.2010 31.05.2009 31.05.2010 31.05.2009
Revenue 202,416 175,885 541,709 537,009
Cost of sales -165,604 -152,709 -457,704 -452,555
Gross profit 36,812 23,176 84,005 84,454
Marketing expenses -13,140 -14,100 -40,107 -39,833
Administrative expenses -10,169 -11,734 -29,500 -35,318
Other income 263 23 790 263
Other expenses -1,656 -93 -1,694 -293
Results from operating 12,110 -2,728 13,494 9,273
activities
Financial income -1,817 1,395 5,354 7,644
Financial expenses -13,312 -15,964 -39,332 -56,837
Share of profit of associates 0 50 0 50
Loss from normal operation -3,019 -17,247 -20,484 -39,870
before income tax
Income tax 0 1 0 0
Net loss for the period -3,019 -17,246 -20,484 -39,870
Other comprehensive income/-
expense
Exchange differences on -239 -346 493 -257
translating foreign
operations
Cash flow hedges -104 6,288 1,015 -777
Other comprehensive income/- -343 5,942 1,508 -1,034
expense for the period
Total comprehensive income/- -3,362 -11,304 -18,976 -40,904
expense for the period
Loss attributable to:
Equity holders of the -3,019 -17,246 -20,484 -39,870
parent
Total comprehensive income/-
expense attributable to:
Equity holders of the -3,362 -11,304 -18,976 -40,904
parent
Earnings per share (in EUR
per share)
- basic -0.00 -0.03 -0.03 -0.06
- diluted -0.00 -0.03 -0.03 -0.06
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EEK)
ASSETS 31.05.2010 31.08.2009
Current assets
Cash and cash equivalents 669,346 782,043
Receivables 690,223 797,762
Prepayments 230,500 179,892
Derivatives 15,459 6,493
Inventories 309,722 297,527
Total current assets 1,915,250 2,063,717
Non-current assets
Investments in associates 9,180 0
Other financial assets and prepayments 7,006 7,664
Deferred income tax assets 207,453 207,455
Investment property 4,694 4,694
Property, plant and equipment 26,269,315 27,049,393
Intangible assets 1,062,069 1,134,738
Total non-current assets 27,559,717 28,403,944
TOTAL ASSETS 29,474,967 30,467,661
LIABILITIES AND EQUITY
Current liabilities
Interest bearing loans and borrowings 1,377,020 1,655,760
Payables 1,447,509 1,415,762
Deferred income 479,101 331,323
Derivatives 243,961 179,842
Total current liabilities 3,547,591 3,582,687
Non-current liabilities
Interest bearing loans and borrowings 16,167,110 16,827,627
Other liabilities 1,173 1,330
Total non-current liabilities 16,168,283 16,828,957
TOTAL LIABILITIES 19,715,874 20,411,644
EQUITY
Equity attributable to equity holders of the parent
Share capital 6,738,170 6,738,170
Share premium 9,999 9,999
Reserves 1,147,996 1,124,409
Retained earnings 1,862,928 2,183,439
Total equity attributable to equity holders of the 9,759,093 10,056,017
parent
TOTAL EQUITY 9,759,093 10,056,017
TOTAL LIABILITIES AND EQUITY 29,474,967 30,467,661
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
ASSETS 31.05.2010 31.08.2009
Current assets
Cash and cash equivalents 42,779 49,982
Receivables 44,113 50,986
Prepayments 14,732 11,497
Derivatives 988 415
Inventories 19,795 19,015
Total current assets 122,407 131,895
Non-current assets
Investments in associates 587 0
Other financial assets and prepayments 448 490
Deferred income tax assets 13,259 13,259
Investment property 300 300
Property, plant and equipment 1,678,915 1,728,771
Intangible assets 67,879 72,523
Total non-current assets 1,761,388 1,815,343
TOTAL ASSETS 1,883,795 1,947,238
LIABILITIES AND EQUITY
Current liabilities
Interest bearing loans and borrowings 88,008 105,822
Payables 92,513 90,484
Deferred income 30,620 21,175
Derivatives 15,592 11,494
Total current liabilities 226,733 228,975
Non-current liabilities
Interest bearing loans and borrowings 1,033,267 1,075,482
Other liabilities 75 85
Total non-current liabilities 1,033,342 1,075,567
TOTAL LIABILITIES 1,260,075 1,304,542
EQUITY
Equity attributable to equity holders of the parent
Share capital 430,648 430,648
Share premium 639 639
Reserves 73,370 71,862
Retained earnings 119,063 139,547
Total equity attributable to equity holders of the 623,720 642,696
parent
TOTAL EQUITY 623,720 642,696
TOTAL LIABILITIES AND EQUITY 1,883,795 1,947,238
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EEK) 01.09.2009- 01.09.2008-
31.05.2010 31.05.2009
Cash flows from operating activities
Net loss for the period -320,511 -623,824
Adjustments 1,441,179 1,508,012
Changes in assets related to operating activities 44,950 327,928
Changes in liabilities related to operating 106,581 37,136
activities
Income tax paid -927 6
1,271,272 1,249,258
Cash flow used for investing activities
Purchase of property, plant, equipment and -87,229 -2,521,923
intangible assets
Proceeds from disposals of property, plant, 101,174 17,693
equipment
Acquisition of associate -9,180 -6,120
Proceeds from disposals of associates 0 782
Proceeds/-payments from settlement of derivatives -50,095 -37,388
Interest received 2,557 5,519
-42,773 -2,541,437
Cash flow from (+)/ used for (-) financing
activities
Proceeds from loans 0 2,427,150
Redemption of loans -573,688 -1,315,471
Change in overdraft -246,676 330,076
Repayment of finance lease liabilities -4,389 -6,763
Interest paid -516,443 -733,439
-1,341,196 701,553
TOTAL NET CASH FLOW -112,697 -590,626
Cash and cash equivalents:
- at the beginning of period 782,043 1,043,785
- increase (+) / decrease (-) -112,697 -590,626
Cash and cash equivalents at end of period 669,346 453,159
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EUR) 01.09.2009- 01.09.2008-
31.05.2010 31.05.2009
Cash flows from operating activities
Net loss for the period -20,484 -39,870
Adjustments 92,108 96,380
Changes in assets related to operating activities 2,873 20,959
Changes in liabilities related to operating 6,811 2,373
activities
Income tax paid -59 0
81,249 79,842
Cash flow used for investing activities
Purchase of property, plant, equipment and -5,575 -161,181
intangible assets
Proceeds from disposals of property, plant, 6,466 1,131
equipment
Acquisition of associate -587 -391
Proceeds from disposals of associates 0 50
Proceeds/-payments from settlement of derivatives -3,201 -2,390
Interest received 163 353
-2,734 -162,428
Cash flow from (+)/ used for (-) financing
activities
Proceeds from loans 0 155,123
Redemption of loans -36,665 -84,074
Change in overdraft -15,765 21,096
Repayment of finance lease liabilities -281 -432
Interest paid -33,007 -46,875
-85,718 44,838
TOTAL NET CASH FLOW -7,203 -37,748
Cash and cash equivalents:
- at the beginning of period 49,982 66,710
- increase (+) / decrease (-) -7,203 -37,748
Cash and cash equivalents at end of period 42,779 28,962
Janek Stalmeister
Member of the Management Board, CFO
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]
Harri Hanschmidt
Head of Investor Relations
AS Tallink Grupp
Sadama 5/7, 10111 Tallinn
Tel +372 640 8981
Skype harri.hanschmidt
E-mail [email protected]