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
Categories
Management interim statement or quarterly financial report
Unique data record identifier
2919
Attachments
Submission date and time
28.10.2010 16:29:21
Content of announcement in Estonian
Title
2009/2010 majandusaasta 12 kuu auditeerimata tulemused
Message
Positiivne areng AS-i Tallink Grupp ja tema tütarettevõtete (edaspidi ”Kontsern”) tegevuses jätkus 2009/2010 majandusaasta neljandas kvartalis (01.06.2010-31.08.2010). Reisijate arv Kontserni laevadel kasvas neljandas kvartalis eelmise aasta sama perioodiga võrreldes 5% 2,84 miljoni reisijani. Suurenenud reisijate mahud ja taastumine kaubavedudes avaldusid Kontserni neljanda kvartali käibes, mis võrreldes eelmise aastaga kasvas 7% rekordilise 272 miljoni euroni (4 258 miljoni kroonini). Kulude kokkuhoiule suunatud tegevused aitasid efektiivselt konverteerida suurenenud käibe kasumiks. Lõppenud 2009/2010 majandusaastal paranes Kontserni tulemus nii esimese üheksa kuu jooksul kui ka kõrghooajal neljandas kvartalis. Majandusaasta auditeerimata käibeks kujunes 814 miljonit eurot (12,7 miljardit krooni), mis on 3%-line kasv võrreldes varasema aastaga. Kasum enne finantskulusid, amortisatsiooni ja maksusid (EBITDA) kasvas 9% ja ulatus 145 miljoni euroni (2,3 miljardi kroonini). Kontserni eesmärgiks oli lõpetada majandusaasta kasumis ja see saavutati. Kontserni auditeerimata 2009/2010 majandusaasta puhaskasum oli 22 miljonit eurot (342 miljonit krooni). Kontserni tulemuste paranemisele aitasid kaasa mitmed tegurid. Varasemate aastate mahuka investeerimisperioodi järgselt said Kontserni üksused senisest enam pühenduda põhitegevusele ja müügitööle. Fokuseeritud müügitegevus ja selle koordineerimine Kontserni turgude vahel avaldus reisijate arvu kasvus. Samal ajal suutis Kontsern parandada keskmist tulu reisija kohta. Sellele aitas kaasa paindliku ja dünaamilise hinnastamise kasutamine Shuttle kiirlaevade toote müügis ja aktiivsele müügile panustamine laevades. Kontserni IT süsteemide integratsioon ja areng on kulgenud edukalt. Ühelt poolt on Kontsern selle tulemusena hoidnud kokku kulusid ning teisalt veelgi olulisemana loob süsteemide areng täiendavaid võimalusi tulude maksimeerimiseks läbi tulujuhtimise ja kliendisuhete haldamise (CRM). Oktoobris 2010 käivitati uus ja täienenud veebipõhine broneeringute keskkond klientidele. Juhtkond jätkab kliendile suunatud tegevustele panustamist paralleelselt personaliarendusega läbi ulatuslike koolituste ning täiustatud motiveerimisskeemide. Kõrge kliendirahulolu, personali motiveeritus ning kvaliteetsed tooted ja teenused on olulised tegurid, et jätkuvalt tõhustada Kontserni tegevuse tulemusi. Jätkunud kulude kontrolli tulemusena suutis Kontsern majandusaasta neljandas kvartalis säilitada EBITDA marginaali eelmise aastaga samal tasemel hoolimata suurenenud kütusehinnast ja kütusekuludest. Paranenud äritegevuse rahavoogude ja minimaalsete investeeringute tulemusena vähendas Kontsern intressikandvaid võlakohustusi neljandas kvartalis 53 miljoni euro (835 miljoni krooni) võrra. 2009/2010 majandusaastal tervikuna vähenesid laenud 113 miljoni euro (1 775 miljoni krooni) võrra, ehk ligikaudu 10%. Kontserni netovõlg majandusaasta lõpus oli 1 010 miljonit eurot (15 809 miljonit krooni). -------------------------------------------------------------------------------- | IV kvartali põhinäitajad | IV kv. 2009/2010 | IV kv. 2008/2009 | muutus % | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Müügitulu (miljon) | 4 258 | 272,2 | 3 988 | 254,9 | 7% | -------------------------------------------------------------------------------- | Brutokasum(miljon) | 1 316 | 84,1 | 1 256 | 80,3 | 5% | -------------------------------------------------------------------------------- | Brutokasumi marginaal | 31% | | 31% | | | -------------------------------------------------------------------------------- | EBITDA (miljon) | 1 216 | 77,7 | 1 152 | 73,6 | 5% | -------------------------------------------------------------------------------- | EBITDA marginaal | 29% | | 29% | | | -------------------------------------------------------------------------------- | Puhaskasum/-kahjum (miljon) | 662 | 42,3 | 496 | 31,7 | 34% | -------------------------------------------------------------------------------- | Puhaskasumi marginaal | 16% | | 12% | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Amortisatsioon (miljon) | 302 | 19,3 | 308 | 19,7 | -2% | -------------------------------------------------------------------------------- | Investeeringud (miljon) | 8 | 0,5 | 28 | 1,8 | -71% | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsiate kaalutud keskmine | 669 882 040 | 669 882 040 | 0% | | arv perioodil* | | | | -------------------------------------------------------------------------------- | Aktsiakasum | 0,99 | 0,06 | 0,74 | 0,05 | 34% | -------------------------------------------------------------------------------- | | | | | -------------------------------------------------------------------------------- | Reisijate arv | 2 839 850 | 2 701 575 | 5% | -------------------------------------------------------------------------------- | Kaubaveo ühikud | 67 297 | 58 634 | 15% | -------------------------------------------------------------------------------- | Keskmine töötajate arv | 6 612 | 6 853 | -4% | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 31.08.2010 | 31.05.2010 | | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Varad kokku (miljon) | 29 | 1 871 | 29 475 | 1 884 | -0,7% | | | 280 | | | | | -------------------------------------------------------------------------------- | Kohustused kokku (miljon) | 18 | 1 204 | 19 716 | 1 260 | -4,5% | | | 832 | | | | | -------------------------------------------------------------------------------- | Intressi kandvad kohustused | 16 | 1 068 | 17 544 | 1 121 | -4,8% | | (miljon) | 709 | | | | | -------------------------------------------------------------------------------- | Omakapital kokku (miljon) | 10 | 668 | 9 759 | 624 | 7,1% | | | 448 | | | | | -------------------------------------------------------------------------------- | Omakapitali määr | 36% | | 33% | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsiate arv* | 669 882 040 | 669 882 040 | 0% | -------------------------------------------------------------------------------- | Omakapital aktsia kohta | 15,6 | 1,0 | 14,6 | 0,94 | 7,1% | -------------------------------------------------------------------------------- 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. Neljanda kvartali ja 2009/2010 majandusaasta lõpus oli Kontsernil rahalisi vahendeid 57 miljonit eurot (899 miljonit krooni). Eelmisel aastal samal ajal oli vastav näitaja 50 miljonit eurot (782 miljonit krooni). Parem likviidsuspositsioon ning puuduvad investeerimiskohustused suurendavad kindlust Kontserni sujuva ja jätkusuutliku tegevuse osas. Juhtkonna kõrgendatud tähelepanu on jätkuvalt kuluefektiivsusel ning Kontserni tulemuste parandamisel. Prioriteetne on vanade ja mittetootlike laevade rentimine või müük. Hetkel on töös mitmed erinevad läbirääkimised vanade ja mittetootlike laevade müügi või rendile andmise osas. Juhtkonna nägemuse kohaselt jätkub majanduse taastumine ja suuremaid muudatusi Kontserni tegevuses 2010/2011 majandusaastal ei ole ette näha. Juhtkond ootab Kontserni tulemuste paranemist. KONSOLIDEERITUD KOONDKASUMIARUANNE -------------------------------------------------------------------------------- | (auditeerimata, | 01.06.2010 | 01.06.2009 | 01.09.2009 | 01.09.2008 | | tuhandetes kroonides) | 31.08.2010 | 31.08.2009 | 31.08.2010 | 31.08.2009 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 4,258,437 | 3,987,594 | 12,734,334 | 12,389,960 | -------------------------------------------------------------------------------- | Müüdud kaupade ja | -2,941,978 | -2,731,106 |-10,103,486 | -9,812,048 | | teenuste kulu | | | | | -------------------------------------------------------------------------------- | Brutokasum | 1,316,459 | 1,256,488 | 2,630,848 | 2,577,912 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | -221,642 | -179,837 | -849,184 | -803,090 | -------------------------------------------------------------------------------- | Halduskulud | -168,344 | -221,985 | -629,917 | -774,599 | -------------------------------------------------------------------------------- | Muud äritulud | 1,806 | 1,452 | 14,170 | 5,579 | -------------------------------------------------------------------------------- | Muud ärikulud | -8,483 | -3,927 | -34,986 | -8,513 | -------------------------------------------------------------------------------- | Kasum/-kahjum | 919,796 | 852,191 | 1,130,931 | 997,289 | | äritegevusest | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Finantstulud | -1,807 | -114,173 | 81,963 | 5,428 | -------------------------------------------------------------------------------- | Finantskulud | -208,547 | -256,621 | -823,963 | -1,145,926 | -------------------------------------------------------------------------------- | Kahjumi osa | -5,837 | -8,342 | -5,837 | -7,560 | | sidusettevõtetest | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/-kahjum enne | 703,605 | 473,055 | 383,094 | -150,769 | | tulumaksu | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tulumaks | -41,212 | 22,856 | -41,212 | 22,856 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aruandeperioodi | 662,393 | 495,911 | 341,882 | -127,913 | | puhaskasum/-kahjum | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Muu koondkasum/-kahjum | | | | | -------------------------------------------------------------------------------- | Valuutakursi vahed | 3,380 | -155 | 11,086 | -4,185 | | välisettevõtetest | | | | | -------------------------------------------------------------------------------- | Riskimaandamise | -4,427 | 11,735 | 11,454 | -422 | | instrumendid | | | | | -------------------------------------------------------------------------------- | Materiaalse põhivara | 27,063 | 0 | 27,063 | 0 | | ümberhindlus | | | | | -------------------------------------------------------------------------------- | Perioodi muu | 26,016 | 11,580 | 49,603 | -4,607 | | koondkasum/-kahjum kokku | | | | | -------------------------------------------------------------------------------- | Perioodi | 688,409 | 507,491 | 391,485 | -132,520 | | koondkasum/-kahjum kokku | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Sh. | | | | | -------------------------------------------------------------------------------- | | Emaettevõtte omanike | 662,393 | 495,911 | 341,882 | -127,913 | | | osa | | | | | | | puhaskasumist/-kahju | | | | | | | mist | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Sh. | | | | | -------------------------------------------------------------------------------- | | Emaettevõtte omanike | 688,409 | 507,491 | 391,485 | -132,520 | | | osa | | | | | | | koondkasumist/-kahju | | | | | | | mist | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/-kahjum aktsia | | | | | | kohta (EEK-ides ühe | | | | | | aktsia kohta) | | | | | -------------------------------------------------------------------------------- | | - tava | 0.99 | 0.74 | 0.51 | -0.19 | -------------------------------------------------------------------------------- | | - lahustatud | 0.99 | 0.74 | 0.51 | -0.19 | -------------------------------------------------------------------------------- KONSOLIDEERITUD KOONDKASUMIARUANNE -------------------------------------------------------------------------------- | (auditeerimata, | 01.06.2010 | 01.06.2009 | 01.09.2009 | 01.09.2008 | | tuhandetes eurodes) | 31.08.2010 | 31.08.2009 | 31.08.2010 | 31.08.2009 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 272,163 | 254,854 | 813,872 | 791,863 | -------------------------------------------------------------------------------- | Müüdud kaupade ja | -188,026 | -174,549 | -645,730 | -627,104 | | teenuste kulu | | | | | -------------------------------------------------------------------------------- | Brutokasum | 84,137 | 80,305 | 168,142 | 164,759 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | -14,166 | -11,494 | -54,273 | -51,327 | -------------------------------------------------------------------------------- | Halduskulud | -10,759 | -14,188 | -40,259 | -49,506 | -------------------------------------------------------------------------------- | Muud äritulud | 116 | 93 | 906 | 356 | -------------------------------------------------------------------------------- | Muud ärikulud | -542 | -251 | -2,236 | -544 | -------------------------------------------------------------------------------- | Kasum/-kahjum | 58,786 | 54,465 | 72,280 | 63,738 | | äritegevusest | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Finantstulud | -116 | -7,297 | 5,238 | 347 | -------------------------------------------------------------------------------- | Finantskulud | -13,329 | -16,401 | -52,661 | -73,238 | -------------------------------------------------------------------------------- | Kahjumi osa | -373 | -533 | -373 | -483 | | sidusettevõtetest | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/-kahjum enne | 44,968 | 30,234 | 24,484 | -9,636 | | tulumaksu | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tulumaks | -2,634 | 1,461 | -2,634 | 1,461 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aruandeperioodi | 42,334 | 31,695 | 21,850 | -8,175 | | puhaskasum/-kahjum | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Muu koondkasum/-kahjum | | | | | -------------------------------------------------------------------------------- | Valuutakursi vahed | 216 | -11 | 709 | -268 | | välisettevõtetest | | | | | -------------------------------------------------------------------------------- | Riskimaandamise | -283 | 750 | 732 | -27 | | instrumendid | | | | | -------------------------------------------------------------------------------- | Materiaalse põhivara | 1,730 | 0 | 1,730 | 0 | | ümberhindlus | | | | | -------------------------------------------------------------------------------- | Perioodi muu | 1,663 | 739 | 3,171 | -295 | | koondkasum/-kahjum kokku | | | | | -------------------------------------------------------------------------------- | Perioodi | 43,997 | 32,434 | 25,021 | -8,470 | | koondkasum/-kahjum kokku | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Sh. | | | | | -------------------------------------------------------------------------------- | | Emaettevõtte omanike | 42,334 | 31,695 | 21,850 | -8,175 | | | osa | | | | | | | puhaskasumist/-kahju | | | | | | | mist | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Sh. | | | | | -------------------------------------------------------------------------------- | | Emaettevõtte omanike | 43,997 | 32,434 | 25,021 | -8,470 | | | osa | | | | | | | koondkasumist/-kahju | | | | | | | mist | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/-kahjum aktsia | | | | | | kohta (EUR-ides ühe | | | | | | aktsia kohta) | | | | | -------------------------------------------------------------------------------- | | - tava | 0.06 | 0.05 | 0.03 | -0.01 | -------------------------------------------------------------------------------- | | - lahustatud | 0.06 | 0.05 | 0.03 | -0.01 | -------------------------------------------------------------------------------- KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE (auditeerimata, tuhandetes kroonides) -------------------------------------------------------------------------------- | VARAD | 31.08.2010 | 31.08.2009 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Käibevara | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 899,494 | 782,043 | -------------------------------------------------------------------------------- | Nõuded | 657,788 | 797,762 | -------------------------------------------------------------------------------- | Ettemaksed | 152,582 | 179,892 | -------------------------------------------------------------------------------- | Derivatiivid | 11,032 | 6,493 | -------------------------------------------------------------------------------- | Varud | 313,483 | 297,527 | -------------------------------------------------------------------------------- | Käibevara kokku | 2,034,379 | 2,063,717 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Põhivara | | | -------------------------------------------------------------------------------- | Investeeringud sidusettevõtetesse | 3,343 | 0 | -------------------------------------------------------------------------------- | Muud finantsvarad ja ettemaksed | 4,957 | 7,664 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksuvara | 166,851 | 207,455 | -------------------------------------------------------------------------------- | Kinnisvarainvesteering | 4,694 | 4,694 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 26,021,867 | 27,049,393 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 1,043,627 | 1,134,738 | -------------------------------------------------------------------------------- | Põhivara kokku | 27,245,339 | 28,403,944 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | VARAD KOKKU | 29,279,718 | 30,467,661 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 995,554 | 1,655,760 | -------------------------------------------------------------------------------- | Muud võlad | 1,471,620 | 1,415,762 | -------------------------------------------------------------------------------- | Ettemakstud tulud | 374,976 | 331,323 | -------------------------------------------------------------------------------- | Derivatiivid | 275,912 | 179,842 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 3,118,062 | 3,582,687 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 15,712,996 | 16,827,627 | -------------------------------------------------------------------------------- | Muud kohustused | 1,158 | 1,330 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 15,714,154 | 16,828,957 | -------------------------------------------------------------------------------- | Kohustused kokku | 18,832,216 | 20,411,644 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OMAKAPITAL | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv | | | | omakapital | | | -------------------------------------------------------------------------------- | Aktsiakapital nimiväärtuses | 6,738,170 | 6,738,170 | -------------------------------------------------------------------------------- | Ülekurss | 9,999 | 9,999 | -------------------------------------------------------------------------------- | Reservid | 1,136,052 | 1,124,409 | -------------------------------------------------------------------------------- | Jaotamata kasum | 2,563,281 | 2,183,439 | -------------------------------------------------------------------------------- | Emaettevõtte omanikele kuuluv omakapital | 10,447,502 | 10,056,017 | | kokku | | | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 10,447,502 | 10,056,017 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 29,279,718 | 30,467,661 | -------------------------------------------------------------------------------- KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE (auditeerimata, tuhandetes eurodes) -------------------------------------------------------------------------------- | VARAD | 31.08.2010 | 31.08.2009 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Käibevara | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 57,488 | 49,982 | -------------------------------------------------------------------------------- | Nõuded | 42,040 | 50,986 | -------------------------------------------------------------------------------- | Ettemaksed | 9,752 | 11,497 | -------------------------------------------------------------------------------- | Derivatiivid | 705 | 415 | -------------------------------------------------------------------------------- | Varud | 20,035 | 19,015 | -------------------------------------------------------------------------------- | Käibevara kokku | 130,020 | 131,895 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Põhivara | | | -------------------------------------------------------------------------------- | Investeeringud sidusettevõtetesse | 214 | 0 | -------------------------------------------------------------------------------- | Muud finantsvarad ja ettemaksed | 317 | 490 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksuvara | 10,664 | 13,259 | -------------------------------------------------------------------------------- | Kinnisvarainvesteering | 300 | 300 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 1,663,100 | 1,728,771 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 66,700 | 72,523 | -------------------------------------------------------------------------------- | Põhivara kokku | 1,741,295 | 1,815,343 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | VARAD KOKKU | 1,871,315 | 1,947,238 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 63,627 | 105,822 | -------------------------------------------------------------------------------- | Muud võlad | 94,054 | 90,484 | -------------------------------------------------------------------------------- | Ettemakstud tulud | 23,965 | 21,175 | -------------------------------------------------------------------------------- | Derivatiivid | 17,634 | 11,494 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 199,280 | 228,975 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 1,004,244 | 1,075,482 | -------------------------------------------------------------------------------- | Muud kohustused | 74 | 85 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 1,004,318 | 1,075,567 | -------------------------------------------------------------------------------- | Kohustused kokku | 1,203,598 | 1,304,542 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OMAKAPITAL | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv | | | | omakapital | | | -------------------------------------------------------------------------------- | Aktsiakapital nimiväärtuses | 430,648 | 430,648 | -------------------------------------------------------------------------------- | Ülekurss | 639 | 639 | -------------------------------------------------------------------------------- | Reservid | 72,607 | 71,862 | -------------------------------------------------------------------------------- | Jaotamata kasum | 163,823 | 139,547 | -------------------------------------------------------------------------------- | Emaettevõtte omanikele kuuluv omakapital | 667,717 | 642,696 | | kokku | | | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 667,717 | 642,696 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 1,871,315 | 1,947,238 | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes kroonides) | 01.09.2009 | 01.09.2008 | -------------------------------------------------------------------------------- | | 31.08.2010 | 31.08.2009 | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi puhaskasum/-kahjum | 341,882 | -127,913 | -------------------------------------------------------------------------------- | Korrigeerimised | 1,990,375 | 2,190,985 | -------------------------------------------------------------------------------- | Äritegevusega seotud varade muutused | 153,266 | 366,186 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste muutused | 78,381 | -149,508 | -------------------------------------------------------------------------------- | Makstud tulumaks | -1,105 | -493 | -------------------------------------------------------------------------------- | | 2,562,799 | 2,279,257 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse põhivara ja immateriaalse vara | -95,630 | -2,549,838 | | soetamine | | | -------------------------------------------------------------------------------- | Laekumised materiaalse põhivara müügist | 104,898 | 16,895 | -------------------------------------------------------------------------------- | Sidusettevõtte soetamine | -9,180 | -6,120 | -------------------------------------------------------------------------------- | Laekumised sidusettevõtete müügist | 0 | 782 | -------------------------------------------------------------------------------- | Laekumised/-maksed derivatiividest | -69,778 | -62,514 | -------------------------------------------------------------------------------- | Saadud intressid | 2,707 | 5,804 | -------------------------------------------------------------------------------- | | -66,983 | -2,594,991 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Laekumised laenudest | 0 | 2,427,151 | -------------------------------------------------------------------------------- | Laenude tagasimaksed | -944,249 | -1,699,493 | -------------------------------------------------------------------------------- | Kasutatud arvelduskrediidi muutus | -721,541 | 204,199 | -------------------------------------------------------------------------------- | Kapitalirendi põhimaksete tasumine | -6,308 | -6,619 | -------------------------------------------------------------------------------- | Makstud intressid | -706,267 | -871,246 | -------------------------------------------------------------------------------- | | -2,378,365 | 53,992 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RAHAVOOD KOKKU | 117,451 | -261,742 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | | -------------------------------------------------------------------------------- | - perioodi alguses | 782,043 | 1,043,785 | -------------------------------------------------------------------------------- | - suurenemine (+) / vähenemine (-) | 117,451 | -261,742 | -------------------------------------------------------------------------------- | - perioodi lõpus | 899,494 | 782,043 | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes eurodes) | 01.09.2009 | 01.09.2008 | -------------------------------------------------------------------------------- | | 31.08.2010 | 31.08.2009 | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi puhaskasum/-kahjum | 21,850 | -8,175 | -------------------------------------------------------------------------------- | Korrigeerimised | 127,208 | 140,029 | -------------------------------------------------------------------------------- | Äritegevusega seotud varade muutused | 9,796 | 23,404 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste muutused | 5,009 | -9,555 | -------------------------------------------------------------------------------- | Makstud tulumaks | -71 | -32 | -------------------------------------------------------------------------------- | | 163,792 | 145,671 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse põhivara ja immateriaalse vara | -6,112 | -162,964 | | soetamine | | | -------------------------------------------------------------------------------- | Laekumised materiaalse põhivara müügist | 6,704 | 1,080 | -------------------------------------------------------------------------------- | Sidusettevõtte soetamine | -587 | -391 | -------------------------------------------------------------------------------- | Laekumised sidusettevõtete müügist | 0 | 50 | -------------------------------------------------------------------------------- | Laekumised/-maksed derivatiividest | -4,460 | -3,995 | -------------------------------------------------------------------------------- | Saadud intressid | 173 | 371 | -------------------------------------------------------------------------------- | | -4,282 | -165,849 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Laekumised laenudest | 0 | 155,123 | -------------------------------------------------------------------------------- | Laenude tagasimaksed | -60,348 | -108,618 | -------------------------------------------------------------------------------- | Kasutatud arvelduskrediidi muutus | -46,115 | 13,051 | -------------------------------------------------------------------------------- | Kapitalirendi põhimaksete tasumine | -403 | -423 | -------------------------------------------------------------------------------- | Makstud intressid | -45,138 | -55,683 | -------------------------------------------------------------------------------- | | -152,004 | 3,450 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RAHAVOOD KOKKU | 7,506 | -16,728 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | | -------------------------------------------------------------------------------- | - perioodi alguses | 49,982 | 66,710 | -------------------------------------------------------------------------------- | - suurenemine (+) / vähenemine (-) | 7,506 | -16,728 | -------------------------------------------------------------------------------- | - perioodi lõpus | 57,488 | 49,982 | -------------------------------------------------------------------------------- Janek Stalmeister Juhatuse liige AS Tallink Grupp Tel +372 640 9800 E-mail [email protected]
Content of announcement in English
Title
12 months unaudited results of the 2009/2010 financial year
Message
Positive development in the operations of AS Tallink Grupp and its
subsidiaries' (The Group) continued in the fourth quarter (01.06.2010-
31.08.2010) of the 2009/2010 financial year. The passenger volume transported
by the Group's vessels in the fourth quarter increased by 5% to 2.84 million
passengers. Higher passenger number and recovery in the cargo volumes have
driven the Group's fourth quarter revenue up by 7% to a record of EUR 272
million (EEK 4 258 million). The cost savings initiatives have helped to
convert the increased revenue to earnings at effective ratio.
Along with the improved results of the first nine months and a solid fourth
quarter operations the Group ended it's 2009/2010 financial year with a revenue
of EUR 814 million (EEK 12.7 billion), a growth of 3% and EBITDA of EUR 145
million (EEK 2.3 billion) which was up by 9%. The Group's target for the
2009/2010 financial year was to be profitable. The target was met with total of
EUR 22 million (EEK 342 million) in the net profit.
The improvement in the Group's results is an effect contributed by several
factors. After the extensive investment phase and several new projects in the
past years the Group's units have now been able to dedicate more of their
resources to the core operations. Focused sales activities and the coordination
between the Group's market areas have lead to increased passenger volumes. At
the same time the Group was able to improve the revenue per passenger. This was
a result of the development in the revenue management by introducing dynamic
flexible pricing in the Shuttle product, as well as performing active sales
onboard the vessels. The integration on the Group's IT systems has developed
well. From one side it has delivered noticeable cost savings but even more
importantly will give new opportunities for further maximisation of the Group's
revenues through revenue & inventory and customer relation management. In
October 2010 the new and improved online booking engine for the customers was
launched.
The Group continues to put high efforts on the improvement of customer
satisfaction and in parallel also 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.
As a result of the continuous cost controlling the Group was able to keep the
EBITDA margin at the stable level despite noticeable increase in fuel price and
hence higher fuel cost compared to the Q4 of the previous financial year.
In result of the increased cash flow from operations and minimal investments
the Group was able to decrease interest bearing liabilities by EUR 53 million
(EEK 835 million) in the fourth quarter. For the whole financial year of
2009/2010 the decrease was EUR 113 million (EEK 1 775 million) or nearly 10%.
The Group's net debt at the end of the financial year was EUR 1 010 million
(EEK 15 809 million).
--------------------------------------------------------------------------------
| Q4 KEY FIGURES | Q4 2009/2010 | Q4 2008/2009 | Change % |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR | |
--------------------------------------------------------------------------------
| Net sales (million) | 4 258 | 272.2 | 3 988 | 254.9 | 7% |
--------------------------------------------------------------------------------
| Gross profit (million) | 1 316 | 84.1 | 1 256 | 80.3 | 5% |
--------------------------------------------------------------------------------
| Gross margin | 31% | | 31% | | |
--------------------------------------------------------------------------------
| EBITDA (million) | 1 216 | 77.7 | 1 152 | 73.6 | 5% |
--------------------------------------------------------------------------------
| EBITDA margin | 29% | | 29% | | |
--------------------------------------------------------------------------------
| Net profit/-loss (million) | 662 | 42.3 | 496 | 31.7 | 34% |
--------------------------------------------------------------------------------
| Net profit margin | 16% | | 12% | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Depreciation & amort. | 302 | 19.3 | 308 | 19.7 | -2% |
| (million) | | | | | |
--------------------------------------------------------------------------------
| Investments (million) | 8 | 0.5 | 28 | 1.8 | -71% |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Weighted average number of | 669 882 040 | 669 882 040 | 0% |
| ordinary shares outstanding | | | |
| during Q4* | | | |
--------------------------------------------------------------------------------
| Earnings per share | 0.99 | 0.06 | 0.74 | 0.05 | 34% |
--------------------------------------------------------------------------------
| | | | |
--------------------------------------------------------------------------------
| Number of passengers | 2 839 850 | 2 701 575 | 5% |
--------------------------------------------------------------------------------
| Cargo units | 67 297 | 58 634 | 15% |
--------------------------------------------------------------------------------
| Average number of employees | 6 612 | 6 853 | -4% |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| | 31.08.2010 | 31.05.2010 | |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR | |
--------------------------------------------------------------------------------
| Total assets (million) | 29 | 1 871 | 29 475 | 1 884 | -0.7% |
| | 280 | | | | |
--------------------------------------------------------------------------------
| Total liabilities (million) | 18 | 1 204 | 19 716 | 1 260 | -4.5% |
| | 832 | | | | |
--------------------------------------------------------------------------------
| Interest-bearing | 16 | 1 068 | 17 544 | 1 121 | -4.8% |
| liabilities (million) | 709 | | | | |
--------------------------------------------------------------------------------
| Total equity (million) | 10 | 668 | 9 759 | 624 | 7.1% |
| | 448 | | | | |
--------------------------------------------------------------------------------
| Equity ratio | 36% | | 33% | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Number of ordinary shares | 669 882 040 | 669 882 040 | 0% |
| outstanding* | | | |
--------------------------------------------------------------------------------
| Shareholders' equity per | 15.6 | 1.0 | 14.6 | 0.94 | 7.1% |
| 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.
In the end of the fourth quarter and 2009/2010 financial year the Group's cash
and cash equivalents amounted to EUR 57 million (EEK 899 million) compared to
EUR 50 million (EEK 782 million) a year ago. The higher liquidity position and
no capital commitments for the coming periods are strengths for the smooth and
stable operations.
The Management continues to focus on cost efficiency and on the Group's
profitability. The sale or charter of older and non performing vessels has high
priority. There are currently several negotiations open to either charter or
sell some of the older and non performing vessels.
The Management estimates that the macroeconomic recovery continues and no major
changes are foreseen in the Group operations in the 2010/2011 financial year.
The Group's results are estimated to improve further.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
--------------------------------------------------------------------------------
| (unaudited, in thousands | 01.06.2010| 01.06.2009 | 01.09.2009 | 01.09.2008 |
| of EEK) | 31.08.2010| 31.08.2009 | 31.08.2010 | 31.08.2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Revenue | 4,258,437 | 3,987,594 | 12,734,334 | 12,389,960 |
--------------------------------------------------------------------------------
| Cost of sales |-2,941,978 | -2,731,106 |-10,103,486| -9,812,048 |
--------------------------------------------------------------------------------
| Gross profit | 1,316,459 | 1,256,488 | 2,630,848 | 2,577,912 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Marketing expenses | -221,642 | -179,837 | -849,184 | -803,090 |
--------------------------------------------------------------------------------
| Administrative expenses | -168,344 | -221,985 | -629,917 | -774,599 |
--------------------------------------------------------------------------------
| Other income | 1,806 | 1,452 | 14,170 | 5,579 |
--------------------------------------------------------------------------------
| Other expenses | -8,483 | -3,927 | -34,986 | -8,513 |
--------------------------------------------------------------------------------
| Results from operating | 919,796 | 852,191 | 1,130,931 | 997,289 |
| activities | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial income | -1,807 | -114,173 | 81,963 | 5,428 |
--------------------------------------------------------------------------------
| Financial expenses | -208,547 | -256,621 | -823,963 | -1,145,926 |
--------------------------------------------------------------------------------
| Share of loss of | -5,837 | -8,342 | -5,837 | -7,560 |
| associates | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit/-loss from normal | 703,605 | 473,055 | 383,094 | -150,769 |
| operation before income | | | | |
| tax | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Income tax | -41,212 | 22,856 | -41,212 | 22,856 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net profit/-loss for the | 662,393 | 495,911 | 341,882 | -127,913 |
| period | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other comprehensive | | | | |
| income/-expense | | | | |
--------------------------------------------------------------------------------
| Exchange differences on | 3,380 | -155 | 11,086 | -4,185 |
| translating foreign | | | | |
| operations | | | | |
--------------------------------------------------------------------------------
| Cash flow hedges | -4,427 | 11,735 | 11,454 | -422 |
--------------------------------------------------------------------------------
| Revaluation of property, | 27,063 | 0 | 27,063 | 0 |
| plant and equipment | | | | |
--------------------------------------------------------------------------------
| Other comprehensive | 26,016 | 11,580 | 49,603 | -4,607 |
| income/-expense for the | | | | |
| period | | | | |
--------------------------------------------------------------------------------
| Total comprehensive | 688,409 | 507,491 | 391,485 | -132,520 |
| income/-expense for the | | | | |
| period | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit/-loss | | | | |
| attributable to: | | | | |
--------------------------------------------------------------------------------
| | Equity holders of | 662,393 | 495,911 | 341,882 | -127,913 |
| | the parent | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total comprehensive | | | | |
| income/-expense | | | | |
| attributable to: | | | | |
--------------------------------------------------------------------------------
| | Equity holders of | 688,409 | 507,491 | 391,485 | -132,520 |
| | the parent | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share (in | | | | |
| EEK per share) | | | | |
--------------------------------------------------------------------------------
| | - basic | 0.99 | 0.74 | 0.51 | -0.19 |
--------------------------------------------------------------------------------
| | - diluted | 0.99 | 0.74 | 0.51 | -0.19 |
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
--------------------------------------------------------------------------------
| (unaudited, in thousands | 01.06.2010 | 01.06.2009 | 01.09.2009 | 01.09.2008|
| of EUR) | 31.08.2010 | 31.08.2009 | 31.08.2010 | 31.08.2009|
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Revenue | 272,163 | 254,854 | 813,872 | 791,863 |
--------------------------------------------------------------------------------
| Cost of sales | -188,026 | -174,549 | -645,730 | -627,104 |
--------------------------------------------------------------------------------
| Gross profit | 84,137 | 80,305 | 168,142 | 164,759 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Marketing expenses | -14,166 | -11,494 | -54,273 | -51,327 |
--------------------------------------------------------------------------------
| Administrative expenses | -10,759 | -14,188 | -40,259 | -49,506 |
--------------------------------------------------------------------------------
| Other income | 116 | 93 | 906 | 356 |
--------------------------------------------------------------------------------
| Other expenses | -542 | -251 | -2,236 | -544 |
--------------------------------------------------------------------------------
| Results from operating | 58,786 | 54,465 | 72,280 | 63,738 |
| activities | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial income | -116 | -7,297 | 5,238 | 347 |
--------------------------------------------------------------------------------
| Financial expenses | -13,329 | -16,401 | -52,661 | -73,238 |
--------------------------------------------------------------------------------
| Share of loss of | -373 | -533 | -373 | -483 |
| associates | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit/-loss from normal | 44,968 | 30,234 | 24,484 | -9,636 |
| operation before income | | | | |
| tax | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Income tax | -2,634 | 1,461 | -2,634 | 1,461 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net profit/-loss for the | 42,334 | 31,695 | 21,850 | -8,175 |
| period | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other comprehensive | | | | |
| income/-expense | | | | |
--------------------------------------------------------------------------------
| Exchange differences on | 216 | -11 | 709 | -268 |
| translating foreign | | | | |
| operations | | | | |
--------------------------------------------------------------------------------
| Cash flow hedges | -283 | 750 | 732 | -27 |
--------------------------------------------------------------------------------
| Revaluation of property, | 1,730 | 0 | 1,730 | 0 |
| plant and equipment | | | | |
--------------------------------------------------------------------------------
| Other comprehensive | 1,663 | 739 | 3,171 | -295 |
| income/-expense for the | | | | |
| period | | | | |
--------------------------------------------------------------------------------
| Total comprehensive | 43,997 | 32,434 | 25,021 | -8,470 |
| income/-expense for the | | | | |
| period | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit/-loss | | | | |
| attributable to: | | | | |
--------------------------------------------------------------------------------
| | Equity holders of | 42,334 | 31,695 | 21,850 | -8,175 |
| | the parent | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total comprehensive | | | | |
| income/-expense | | | | |
| attributable to: | | | | |
--------------------------------------------------------------------------------
| | Equity holders of | 43,997 | 32,434 | 25,021 | -8,470 |
| | the parent | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share (in | | | | |
| EUR per share) | | | | |
--------------------------------------------------------------------------------
| | - basic | 0.06 | 0.05 | 0.03 | -0.01 |
--------------------------------------------------------------------------------
| | - diluted | 0.06 | 0.05 | 0.03 | -0.01 |
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EEK)
--------------------------------------------------------------------------------
| ASSETS | 31.08.2010 | 31.08.2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current assets | | |
--------------------------------------------------------------------------------
| Cash and cash equivalents | 899,494 | 782,043 |
--------------------------------------------------------------------------------
| Receivables | 657,788 | 797,762 |
--------------------------------------------------------------------------------
| Prepayments | 152,582 | 179,892 |
--------------------------------------------------------------------------------
| Derivatives | 11,032 | 6,493 |
--------------------------------------------------------------------------------
| Inventories | 313,483 | 297,527 |
--------------------------------------------------------------------------------
| Total current assets | 2,034,379 | 2,063,717 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current assets | | |
--------------------------------------------------------------------------------
| Investments in associates | 3,343 | 0 |
--------------------------------------------------------------------------------
| Other financial assets and prepayments | 4,957 | 7,664 |
--------------------------------------------------------------------------------
| Deferred income tax assets | 166,851 | 207,455 |
--------------------------------------------------------------------------------
| Investment property | 4,694 | 4,694 |
--------------------------------------------------------------------------------
| Property, plant and equipment | 26,021,867 | 27,049,393 |
--------------------------------------------------------------------------------
| Intangible assets | 1,043,627 | 1,134,738 |
--------------------------------------------------------------------------------
| Total non-current assets | 27,245,339 | 28,403,944 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL ASSETS | 29,279,718 | 30,467,661 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| LIABILITIES AND EQUITY | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current liabilities | | |
--------------------------------------------------------------------------------
| Interest bearing loans and borrowings | 995,554 | 1,655,760 |
--------------------------------------------------------------------------------
| Payables | 1,471,620 | 1,415,762 |
--------------------------------------------------------------------------------
| Deferred income | 374,976 | 331,323 |
--------------------------------------------------------------------------------
| Derivatives | 275,912 | 179,842 |
--------------------------------------------------------------------------------
| Total current liabilities | 3,118,062 | 3,582,687 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current liabilities | | |
--------------------------------------------------------------------------------
| Interest bearing loans and borrowings | 15,712,996 | 16,827,627 |
--------------------------------------------------------------------------------
| Other liabilities | 1,158 | 1,330 |
--------------------------------------------------------------------------------
| Total non-current liabilities | 15,714,154 | 16,828,957 |
--------------------------------------------------------------------------------
| TOTAL LIABILITIES | 18,832,216 | 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 | 1,136,052 | 1,124,409 |
--------------------------------------------------------------------------------
| Retained earnings | 2,563,281 | 2,183,439 |
--------------------------------------------------------------------------------
| Total equity attributable to equity holders | 10,447,502 | 10,056,017 |
| of the parent | | |
--------------------------------------------------------------------------------
| TOTAL EQUITY | 10,447,502 | 10,056,017 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL LIABILITIES AND EQUITY | 29,279,718 | 30,467,661 |
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
--------------------------------------------------------------------------------
| ASSETS | 31.08.2010 | 31.08.2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current assets | | |
--------------------------------------------------------------------------------
| Cash and cash equivalents | 57,488 | 49,982 |
--------------------------------------------------------------------------------
| Receivables | 42,040 | 50,986 |
--------------------------------------------------------------------------------
| Prepayments | 9,752 | 11,497 |
--------------------------------------------------------------------------------
| Derivatives | 705 | 415 |
--------------------------------------------------------------------------------
| Inventories | 20,035 | 19,015 |
--------------------------------------------------------------------------------
| Total current assets | 130,020 | 131,895 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current assets | | |
--------------------------------------------------------------------------------
| Investments in associates | 214 | 0 |
--------------------------------------------------------------------------------
| Other financial assets and prepayments | 317 | 490 |
--------------------------------------------------------------------------------
| Deferred income tax assets | 10,664 | 13,259 |
--------------------------------------------------------------------------------
| Investment property | 300 | 300 |
--------------------------------------------------------------------------------
| Property, plant and equipment | 1,663,100 | 1,728,771 |
--------------------------------------------------------------------------------
| Intangible assets | 66,700 | 72,523 |
--------------------------------------------------------------------------------
| Total non-current assets | 1,741,295 | 1,815,343 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL ASSETS | 1,871,315 | 1,947,238 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| LIABILITIES AND EQUITY | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current liabilities | | |
--------------------------------------------------------------------------------
| Interest bearing loans and borrowings | 63,627 | 105,822 |
--------------------------------------------------------------------------------
| Payables | 94,054 | 90,484 |
--------------------------------------------------------------------------------
| Deferred income | 23,965 | 21,175 |
--------------------------------------------------------------------------------
| Derivatives | 17,634 | 11,494 |
--------------------------------------------------------------------------------
| Total current liabilities | 199,280 | 228,975 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current liabilities | | |
--------------------------------------------------------------------------------
| Interest bearing loans and borrowings | 1,004,244 | 1,075,482 |
--------------------------------------------------------------------------------
| Other liabilities | 74 | 85 |
--------------------------------------------------------------------------------
| Total non-current liabilities | 1,004,318 | 1,075,567 |
--------------------------------------------------------------------------------
| TOTAL LIABILITIES | 1,203,598 | 1,304,542 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EQUITY | | |
--------------------------------------------------------------------------------
| Equity attributable to equity holders of | | |
| the parent | | |
--------------------------------------------------------------------------------
| Share capital | 430,648 | 430,648 |
--------------------------------------------------------------------------------
| Share premium | 639 | 639 |
--------------------------------------------------------------------------------
| Reserves | 72,607 | 71,862 |
--------------------------------------------------------------------------------
| Retained earnings | 163,823 | 139,547 |
--------------------------------------------------------------------------------
| Total equity attributable to equity holders | 667,717 | 642,696 |
| of the parent | | |
--------------------------------------------------------------------------------
| TOTAL EQUITY | 667,717 | 642,696 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL LIABILITIES AND EQUITY | 1,871,315 | 1,947,238 |
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
--------------------------------------------------------------------------------
| (unaudited, in thousands of EEK) | 01.09.2009 | 01.09.2008 |
--------------------------------------------------------------------------------
| | 31.08.2010 | 31.08.2009 |
--------------------------------------------------------------------------------
| Cash flows from operating activities | | |
--------------------------------------------------------------------------------
| Net profit/-loss for the period | 341,882 | -127,913 |
--------------------------------------------------------------------------------
| Adjustments | 1,990,375 | 2,190,985 |
--------------------------------------------------------------------------------
| Changes in assets related to operating | 153,266 | 366,186 |
| activities | | |
--------------------------------------------------------------------------------
| Changes in liabilities related to operating | 78,381 | -149,508 |
| activities | | |
--------------------------------------------------------------------------------
| Income tax paid | -1,105 | -493 |
--------------------------------------------------------------------------------
| | 2,562,799 | 2,279,257 |
--------------------------------------------------------------------------------
| Cash flow used for investing activities | | |
--------------------------------------------------------------------------------
| Purchase of property, plant, equipment and | -95,630 | -2,549,838 |
| intangible assets | | |
--------------------------------------------------------------------------------
| Proceeds from disposals of property, plant, | 104,898 | 16,895 |
| equipment | | |
--------------------------------------------------------------------------------
| Acquisition of associate | -9,180 | -6,120 |
--------------------------------------------------------------------------------
| Proceeds from disposals of associates | 0 | 782 |
--------------------------------------------------------------------------------
| Proceeds/-payments from settlement of | -69,778 | -62,514 |
| derivatives | | |
--------------------------------------------------------------------------------
| Interest received | 2,707 | 5,804 |
--------------------------------------------------------------------------------
| | -66,983 | -2,594,991 |
--------------------------------------------------------------------------------
| Cash flow from (+)/ used for (-) financing | | |
| activities | | |
--------------------------------------------------------------------------------
| Proceeds from loans | 0 | 2,427,151 |
--------------------------------------------------------------------------------
| Redemption of loans | -944,249 | -1,699,493 |
--------------------------------------------------------------------------------
| Change in overdraft | -721,541 | 204,199 |
--------------------------------------------------------------------------------
| Repayment of finance lease liabilities | -6,308 | -6,619 |
--------------------------------------------------------------------------------
| Interest paid | -706,267 | -871,246 |
--------------------------------------------------------------------------------
| | -2,378,365 | 53,992 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL NET CASH FLOW | 117,451 | -261,742 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash and cash equivalents: | | |
--------------------------------------------------------------------------------
| - at the beginning of period | 782,043 | 1,043,785 |
--------------------------------------------------------------------------------
| - increase (+) / decrease (-) | 117,451 | -261,742 |
--------------------------------------------------------------------------------
| Cash and cash equivalents at end of period | 899,494 | 782,043 |
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
--------------------------------------------------------------------------------
| (unaudited, in thousands of EUR) | 01.09.2009 | 01.09.2008 |
| | 31.08.2010 | 31.08.2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flows from operating activities | | |
--------------------------------------------------------------------------------
| Net profit/-loss for the period | 21,850 | -8,175 |
--------------------------------------------------------------------------------
| Adjustments | 127,208 | 140,029 |
--------------------------------------------------------------------------------
| Changes in assets related to operating | 9,796 | 23,404 |
| activities | | |
--------------------------------------------------------------------------------
| Changes in liabilities related to operating | 5,009 | -9,555 |
| activities | | |
--------------------------------------------------------------------------------
| Income tax paid | -71 | -32 |
--------------------------------------------------------------------------------
| | 163,792 | 145,671 |
--------------------------------------------------------------------------------
| Cash flow used for investing activities | | |
--------------------------------------------------------------------------------
| Purchase of property, plant, equipment and | -6,112 | -162,964 |
| intangible assets | | |
--------------------------------------------------------------------------------
| Proceeds from disposals of property, plant, | 6,704 | 1,080 |
| equipment | | |
--------------------------------------------------------------------------------
| Acquisition of associate | -587 | -391 |
--------------------------------------------------------------------------------
| Proceeds from disposals of associates | 0 | 50 |
--------------------------------------------------------------------------------
| Proceeds/-payments from settlement of | -4,460 | -3,995 |
| derivatives | | |
--------------------------------------------------------------------------------
| Interest received | 173 | 371 |
--------------------------------------------------------------------------------
| | -4,282 | -165,849 |
--------------------------------------------------------------------------------
| Cash flow from (+)/ used for (-) financing | | |
| activities | | |
--------------------------------------------------------------------------------
| Proceeds from loans | 0 | 155,123 |
--------------------------------------------------------------------------------
| Redemption of loans | -60,348 | -108,618 |
--------------------------------------------------------------------------------
| Change in overdraft | -46,115 | 13,051 |
--------------------------------------------------------------------------------
| Repayment of finance lease liabilities | -403 | -423 |
--------------------------------------------------------------------------------
| Interest paid | -45,138 | -55,683 |
--------------------------------------------------------------------------------
| | -152,004 | 3,450 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL NET CASH FLOW | 7,506 | -16,728 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash and cash equivalents: | | |
--------------------------------------------------------------------------------
| - at the beginning of period | 49,982 | 66,710 |
--------------------------------------------------------------------------------
| - increase (+) / decrease (-) | 7,506 | -16,728 |
--------------------------------------------------------------------------------
| Cash and cash equivalents at end of period | 57,488 | 49,982 |
--------------------------------------------------------------------------------
Janek Stalmeister
Member of the Management Board, CFO
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]