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
3593
Attachments
Submission date and time
29.02.2012 18:28:50
Content of announcement in Estonian
Title
2010/2011 majandusaasta 16 kuu auditeerimata tulemused
Message
Tallinn, 2012-02-29 17:28 CET (GLOBE NEWSWIRE) --
2010/2011 majandusaasta 16 kuu auditeerimata tulemused
AS-i Tallink Grupp ja tema tütarettevõtted (edaspidi „Kontsern“) järgisid
2010/2011 majandusaastal edukalt varasemalt seatud strateegiat. Kliendirahulolu
paranes mitmetes olulistes kategooriates. Kontserni veomahud ning turuosa
kasvasid läbivalt majandusaasta jooksul. Koos paranenud äritegevuse tulemusega
on nähtavalt vähenenud ka ettevõtte laenukoormus.
Kontserni 2010/2011 majandusaasta 16 kuu auditeerimata müügitulu, koos
lõpetatud äritegevusega ulatus 1178,3 miljoni euroni, brutokasum 238,7 miljoni
euroni ning finantstulude ja -kulude, maksude ning kulumi eelne kasum (EBITDA)
199,1 miljoni euroni. Majandusaasta auditeerimata puhaskasum oli 37,5 miljonit
eurot. Jätkuvate äritegevuste müügitulu oli 1152.9 miljonit eurot ning
brutokasum 251.4 miljonit eurot.
2011 kalendriaasta 12 kuule kohandatud pro forma tulemused (jaanuar-detsember),
olid järgmised: müügitulu 907,6 miljonit eurot, brutokasum 192,6 miljonit
eurot, EBITDA 162,7 miljonit eurot ning puhaskasum 37,7 miljonit eurot.
Tulenevalt majandusaasta perioodi muutusest katab käesolev vahearuanne
mittestandardset nelja kuu pikkust üleminekuperioodi 01.09.2011-31.12.2011
(edaspidi nimetatud ka V kvartal). Kuna 2010/2011 majandusaasta pikkuseks oli
16 kuud (01.09.2010-31.12.2011), aga eelneva majandusaasta pikkuseks 12 kuud
(01.09.2009-31.08.2010), siis ei ole majandusaastate informatsioon omavahel
võrreldav. Kontsern avaldab täiendavalt kalendriaastale kohandatud pro forma
finantsinformatsiooni, mis on saadaval ka Kontserni kodulehel.
Tulenevalt tegevuse lõpetamisest Soome-Saksamaa liinil kajastab Kontsern
vastavalt rahvusvaheliste raamatupidamise standardi IFRS nõuetele
konsolideeritud koondkasumiaruandes jätkuvad ja lõpetatud tegevused eraldi.
Juhtkonna tegevusaruandes on käsitletud tegevust tervikuna, sisaldades ka
mittejätkuvat tegevust.
Kontsern jätkas juhtiva positsiooni tugevdamist lühikruiiside ja ärireiside
pakkujana Läänemerel perioodil september-detsember 2011. Veetud reisijate arv
kasvas ligi 3% ja Kontserni turuosad paranesid kõikidel opereeritavatel
liinidel.
Kontserni 2010/2011 majandusaasta V kvartali (01.09.2011-31.12.2012)
auditeerimata müügitulu ulatus 281 miljoni euroni, mis on 4% rohkem võrreldes
eelmise aasta sama perioodiga. Brutokasum kasvas 13% 52 miljoni euroni ning
EBITDA 11% 40,5 miljoni euroni sama perioodi võrdluses. Hoolimata ligikaudu 39%
tõusnud kütusehindadest suutis Kontsern parandada EBITDA marginaali 14,4%-ni,
peamiselt Soome-Saksamaa opereerimise lõpetamise ning seotud laevade
Kontsernist välja prahtimise tulemusel. Kontserni tegevuse tulemus vastas
juhtkonna ootustele.
Majandusaasta lõpus teostatud maksuvarade ning tuletisinstrumentide
allahindluse järgselt oli V kv. auditeerimata puhaskahjum 0,9 miljonit eurot.
Eelmise aasta samal perioodil, mil sarnaseid allahindlusi ei toimunud, oli
puhaskahjum 0,3 miljonit eurot.
Kontserni laenude tagasimaksed 2010/2011 majandusaastal olid 112 miljonit
eurot. Seisuga 31.12.2011 ulatusid intressi kandvad kohustused 960 miljoni
euroni vähenedes V kv. jooksul 5%. Kontserni netovõlg perioodi lõpus oli 884
miljonit eurot ning netovõla EBITDA suhe 5,4. Seisuga 31.12.2011 oli Kontsernil
rahalisi vahendeid 75 miljonit eurot, mida on 30 miljonit eurot enam kui
31.12.2010. Võttes arvesse ka saadaolevad kasutamata krediidiliinid oli
Kontserni kogulikviidsus 122 miljonit eurot.
PÕHINÄITAJAD 2011 Sep-Dets 2010 Sep-Dets* muutus
-----------------------------------------------------------------------------
Müügitulu milj. EUR 281,1 270,7 3,8%
-----------------------------------------------------------------------------
Brutokasum milj. EUR 50,0 46,0 12,9%
-----------------------------------------------------------------------------
Brutokasumi marginaal 18,5% 17,0%
-----------------------------------------------------------------------------
EBITDA milj. EUR 40,5 36,4 11,1%
-----------------------------------------------------------------------------
EBITDA marginaal 14,4% 13,5%
-----------------------------------------------------------------------------
Puhaskasum / -kahjum milj. EUR -0,9 -0,3 -266%
-----------------------------------------------------------------------------
Puhaskasumi marginaal -0,3% -0,1%
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
Amortisatsioon milj. EUR 23,7 24,2 -2.0%
-----------------------------------------------------------------------------
Investeeringud milj. EUR 2,9 3,8 -22%
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv** 669 882 040 669 882 040 0%
-----------------------------------------------------------------------------
Aktsiakasum EUR -0,00 -0,00 -266%
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
Reisijate arv 2 750 344 2 674 580 2,8%
-----------------------------------------------------------------------------
Kaubaveo ühikute arv 95 004 99 431 -4,5%
-----------------------------------------------------------------------------
Töötajate keskmine arv 6 656 6 586 1,1%
-----------------------------------------------------------------------------
--------------------------------------
31.12.2011 31.08.2011
-----------------------------------------------------------------------------
Varad milj. EUR 1 800 1 859 -3,2%
-----------------------------------------------------------------------------
Intressi kandvad kohustused milj. EUR 960 1 011 -5,1%
-----------------------------------------------------------------------------
Netovõlg milj. EUR 884 916 -3,5%
-----------------------------------------------------------------------------
Netovõla EBITDA suhe 5,4 5,8
-----------------------------------------------------------------------------
Omakapital kokku milj. EUR 705 706 -0,1%
-----------------------------------------------------------------------------
Omakapitali määr 39% 38%
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
Aktsiate arv** 669 882 040 669 882 040 0%
-----------------------------------------------------------------------------
Omakapital aktsia kohta EUR 1,05 1,05 -0,1%
-----------------------------------------------------------------------------
EBITDA – finantstulude ja -kulude, maksude, 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;
Netovõlg – Intressikandvad kohustused – raha ja ekvivalendid;
Netovõla EBITDA suhe – Netovõlg / 12-kuu EBITDA;
* 2010 aasta võrdlusandmed sisaldavad ka lõpetatud tegevust;
** Ei sisalda omaaktsiaid.
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.09.2011- 01.09.2010- 01.09.2010- 01.09.2009-
eurodes)
31.12.2011 31.12.2010 31.12.2011 31.08.2010*
================================================================================
Jätkuvad tegevused
Müügitulu 281,109 261,768 1,152,994 791,530
Müüdud kaupade ja teenuste -229,120 -210,262 -901,597 -611,286
kulu
Brutokasum 51,989 51,506 251,397 180,244
--------------------------------------------------------------------------------
Turustuskulud -19,631 -19,367 -78,172 -51,738
Halduskulud -14,422 -13,661 -54,988 -40,259
Muud äritulud 326 85 1,291 906
Muud ärikulud -1,289 -63 -1,326 -2,236
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 16,973 18,500 118,202 86,917
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud -3,075 7,822 4,277 5,238
Finantskulud -13,529 -20,343 -69,324 -52,661
Kahjumi osa sidusettevõttest -100 -57 -157 -373
Kasum/-kahjum jätkuvatest 269 5,922 52,998 39,121
tegevustest
--------------------------------------------------------------------------------
Tulumaks -1,187 0 -1,302 -2,634
Aruandeperioodi -918 5,922 51,696 36,487
puhaskasum/-kahjum
--------------------------------------------------------------------------------
Mittejätkuvad tegevused
Kasum/-kahjum 0 -6,173 -14,220 -14,637
mittejätkuvatest
tegevustest
--------------------------------------------------------------------------------
Aruandeperioodi -918 -251 37,476 21,850
puhaskasum/-kahjum
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Valuutakursi vahed -6 -12 76 709
välisettevõtetest
Riskimaandamise 0 -705 -705 732
instrumentide õiglase
väärtuse muutus
Materiaalse põhivara 0 0 0 1,730
ümberhindlus
Perioodi muu -6 -717 -629 3,171
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum -924 -968 36,847 25,021
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
Emaettevõtte omanike osa -918 -251 37,476 21,850
puhaskasumist/-kahjumist
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
Emaettevõtte omanike osa -924 -968 36,847 25,021
koondkasumist/-kahjumist
Kasum/-kahjum aktsia kohta
(EUR-ides ühe aktsia kohta)
- tava 0.00 0.00 0.06 0.03
- lahustatud 0.00 0.00 0.06 0.03
--------------------------------------------------------------------------------
* Majandusaasta muudeti perioodilt 01.09.-31.08. perioodile 01.01.-31.12. ning
seetõttu ei ole majandusaastad võrreldavad. Aruandeaasta pikkuseks on 16 kuud
ja võrdlusaasta pikkuseks on 12 kuud.
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 31.12.2011 31.08.2010
======================================================================
Käibevara
----------------------------------------------------------------------
Raha ja raha ekvivalendid 75,421 57,488
Nõuded ostjate vastu ja muud nõuded 35,152 42,040
Ettemaksed 7,087 9,752
Tuletisinstrumendid 0 705
Varud 25,198 20,035
Käibevara kokku 142,858 130,020
----------------------------------------------------------------------
Põhivara
----------------------------------------------------------------------
Investeeringud sidusettevõtetesse 226 214
Muud finantsvarad 2,551 317
Edasilükkunud tulumaksuvara 9,452 10,664
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,583,002 1,663,100
Immateriaalne põhivara 61,153 66,700
----------------------------------------------------------------------
Põhivara kokku 1,656,684 1,741,295
----------------------------------------------------------------------
VARAD KOKKU 1,799,542 1,871,315
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
======================================================================
Lühiajalised kohustused
----------------------------------------------------------------------
Intressikandvad võlakohustused 145,261 63,627
Võlad tarnijatele ja muud võlad 86,793 94,054
Ettemakstud tulud 25,226 23,965
Tuletisinstrumendid 22,668 17,634
Lühiajalised kohustused kokku 279,948 199,280
----------------------------------------------------------------------
Pikaajalised kohustused
----------------------------------------------------------------------
Intressikandvad võlakohustused 814,305 1,004,244
Muud kohustused 198 74
----------------------------------------------------------------------
Pikaajalised kohustused kokku 814,503 1,004,318
----------------------------------------------------------------------
Kohustused kokku 1,094,451 1,203,598
----------------------------------------------------------------------
OMAKAPITAL
----------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
----------------------------------------------------------------------
----------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404,290 430,648
Ülekurss 639 639
Reservid 70,497 72,607
Jaotamata kasum 229,665 163,823
----------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 705,091 667,717
----------------------------------------------------------------------
OMAKAPITAL KOKKU 705,091 667,717
----------------------------------------------------------------------
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,799,542 1,871,315
----------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.09.2010 - 01.09.2009 -
31.12.2011 31.08.2010
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 37,476 21,850
Korrigeerimised 164,038 127,208
Äritegevusega seotud varade muutused 5,735 9,796
Äritegevusega seotud kohustuste muutused -3,711 5,009
Makstud tulumaks -107 -71
--------------------------------------------------------------------------------
203,431 163,792
--------------------------------------------------------------------------------
-----------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse põhivara -13,258 -6,112
soetamine
Laekumised materiaalse põhivara müügist 84 6,704
Sidusettevõtete aktsiate soetamine -169 -587
Muude ettevõtete aktsiate soetamine -5 0
Maksed tuletisinstrumentidest -7,236 -4,460
Saadud intressid 380 173
--------------------------------------------------------------------------------
-20,204 -4,282
---------------------------
-----------------------------------------------------
Rahavood finantseerimistegevusest
Laenude tagasimaksed -112,093 -60,348
Kasutatud arvelduskrediidi muutus 0 -46,115
Kapitalirendi põhimaksete tasumine -114 -403
Makstud intressid -53,087 -45,138
-165,294 -152,004
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU 17,933 7,506
--------------
----------------------------------------------------- -------------
Raha ja raha ekvivalendid
- perioodi alguses 57,488 49,982
- suurenemine (+) / vähenemine (-) 17,933 7,506
--------------------------------------------------------------------------------
- perioodi lõpus 75,421 57,488
--------------------------------------------------------------------------------
Janek Stalmeister
Juhatuse liige
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
E-mail [email protected]
Content of announcement in English
Title
16 months unaudited results of the 2010/2011 financial year
Message
Tallinn, 2012-02-29 17:28 CET (GLOBE NEWSWIRE) --
16 months unaudited results of the 2010/2011 financial year
In the 2010/2011 financial year AS Tallink Grupp and its subsidiaries (the
Group) successfully followed the set strategy. Customer satisfaction improved
in several main categories. The Group increased its traffic volumes and market
shares throughout the financial year. Along with the improvements in the
operating results also the reduction in debt is well visible.
The Group’s 2010/2011 financial year 16-months unaudited revenue, including the
discontinued operations, was EUR 1178.3 million, gross profit EUR 238.7
million, EBITDA 199.1 million. The net profit for the 2010/2011 financial year
was EUR 37.5 million. For the continued operations the net revenue amounted to
EUR 1152.9 million and gross profit to EUR 251.4 million.
The pro forma results adjusted for the 2011 calendar year (January-December)
were following: Revenue EUR 907.6 million, gross profit EUR 192.6 million,
EBITDA EUR 162.7 million and net profit EUR 37.7 million.
Due to the change of the financial year this interim report covers the
nonstandard four months extended period 01.09.2011-31.12.2011 (hereafter
referred also as Q5). As the 2010/2011 financial year was 16-months
(01.09.2010-31.12.2011) and the comparative financial year 2009/2010 was
12-months (01.09.2009-31.08.2010) then the financial year figures are not
comparable. Additional pro forma financial information for the 2011 calendar
year is released separately and is available at the Group’s website.
Due to the end of the operations in the Finland-Germany route the Group’s
Consolidated Statement of Comprehensive Income outlines the results of the
continued operations and discontinued operations separately according to the
IFRS. In the management report the results are presented as total including the
discontinued operations.
The Group continued to strengthen its position as the leading short cruise and
business travel provider on the Baltic Sea in Q5. The passenger volume
increased by nearly 3% and the Group’s market shares improved on all the
operated routes.
The Group’s unaudited revenue for the Q5 of the 2010/2011 financial year
(September-December) was EUR 281 million which is nearly 4% higher compared to
the same period in the previous year. Gross profit increased by 13% to EUR 52
million and EBITDA by 11% to EUR 40.5 million in the same period comparison.
Despite of 39% increase in the fuel prices the Group was able to improve the
EBITDA margin for the period to 14.4%. This was largely contributed by the
discontinued operations in the Finland-Germany route and chartering out the
related vessels. The Group’s operating performance was in line with the
management expectations.
After the year-end tax assets impairments and revaluation of derivative
financial instruments the unaudited net profit for the four month period was
negative by EUR 0.9 million. In the same period of the previous year the net
profit was negative by EUR 0.3 million when there were no such impairments
carried out.
In the 2010/2011 financial year the Group’s debt repayments amounted to EUR 112
million. At the end of Q5 (31.12.2011) the interest bearing liabilities were
EUR 960 million which is a 5% reduction during Q5. The Group’s net debt was EUR
884 million and the ratio of the net debt to EBITDA was 5.4. At the end of the
year the Group had EUR 75 million in cash and equivalents which is EUR 30
million more than 31.12.2010. The total liquidity for the Group, including the
unused credit lines was EUR 122 million which is.
Q5 KEY FIGURES 2011 Sep-Dec 2010 Sep-Dec* change
--------------------------------------------------------------------------------
Revenue EUR million 281.1 270.7 3.8%
--------------------------------------------------------------------------------
Gross profit EUR million 52.0 46.0 12.9%
--------------------------------------------------------------------------------
Gross margin 18.5% 17.0%
--------------------------------------------------------------------------------
EBITDA EUR million 40.5 36.4 11.1%
--------------------------------------------------------------------------------
EBITDA margin 14.4% 13.5%
--------------------------------------------------------------------------------
Net profit / -loss EUR million -0.9 -0.3 -266%
--------------------------------------------------------------------------------
Net profit margin -0.3% -0.1%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation & amortisation EUR million 23.7 24.2 -2.0%
--------------------------------------------------------------------------------
Investments EUR million 2.9 3.8 -22%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of shares 669 882 040 669 882 040 0%
outstanding**
--------------------------------------------------------------------------------
Earnings per share EUR -0.0 -0.0 -266%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2 750 344 2 674 580 2.8%
--------------------------------------------------------------------------------
Number of cargo units 95 004 99 431 -4.5%
--------------------------------------------------------------------------------
Average number of employees 6 656 6 586 1.1%
--------------------------------------------------------------------------------
--------------------------------------------
------------------------------------
31.12.2011 31.08.2011 change
--------------------------------------------------------------------------------
Total assets EUR million 1 800 1 859 -3.2%
--------------------------------------------------------------------------------
Interest bearing liabilities EUR million 960 1 011 -5.1%
--------------------------------------------------------------------------------
Net debt EUR million 884 916 -3.5%
--------------------------------------------------------------------------------
Net debt to EBITDA 5.4 5.8
--------------------------------------------------------------------------------
Total equity EUR million 705 706 -0.1%
--------------------------------------------------------------------------------
Equity ratio 39% 38%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of shares outstanding** 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Shareholders’ equity per share EUR 1.05 1.05 -0.1%
--------------------------------------------------------------------------------
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.
Net debt – Interest bearing liabilities less cash and cash equivalents
Net debt to EBITDA – Net debt / 12-months trailing EBITDA
* 2010 comparative period include discontinued operations
** Share numbers exclude own shares.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of 01.09.2011- 01.09.2010- 01.09.2010- 01.09.2009-
EUR)
31.12.2011 31.12.2010 31.12.2011 31.08.2010*
================================================================================
Continuing operations
Revenue 281,109 261,768 1,152,994 791,530
Cost of sales -229,120 -210,262 -901,597 -611,286
Gross profit 51,989 51,506 251,397 180,244
--------------------------------------------------------------------------------
Marketing expenses -19,631 -19,367 -78,172 -51,738
Administrative expenses -14,422 -13,661 -54,988 -40,259
Other income 326 85 1,291 906
Other expenses -1,289 -63 -1,326 -2,236
--------------------------------------------------------------------------------
Results from operating 16,973 18,500 118,202 86,917
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income -3,075 7,822 4,277 5,238
Finance costs -13,529 -20,343 -69,324 -52,661
Share of loss of associates -100 -57 -157 -373
Profit/-loss before income 269 5,922 52,998 39,121
tax
--------------------------------------------------------------------------------
Income tax -1,187 0 -1,302 -2,634
--------------------------------------------------------------------------------
Net profit/-loss from -918 5,922 51,696 36,487
continuing operations
--------------------------------------------------------------------------------
Discontinued operation
Profit/-loss from 0 -6,173 -14,220 -14,637
discontinued operation (net
of tax)
--------------------------------------------------------------------------------
Net profit/-loss for the -918 -251 37,476 21,850
period
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Exchange differences on -6 -12 76 709
translating foreign
operations
Changes in fair value of 0 -705 -705 732
cash flow hedges
Revaluation of property, 0 0 0 1,730
plant and equipment
Other comprehensive -6 -717 -629 3,171
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive -924 -968 36,847 25,021
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit/-loss attributable
to:
Equity holders of the -918 -251 37,476 21,850
parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Total comprehensive
income/-expense
attributable to:
Equity holders of the -924 -968 36,847 25,021
parent
Earnings per share (in EUR
per share)
- basic 0.00 0.00 0.06 0.03
- diluted 0.00 0.00 0.06 0.03
--------------------------------------------------------------------------------
* Financial year has changed from 01.09.-31.08. to 01.01.-31.12.. Due to this
change the financial years are not comparable. Reporting financial year has 16
months and comparative financial year has 12 months.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
ASSETS 31.12.2011 31.08.2010
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 75,421 57,488
Trade and other receivables 35,152 42,040
Prepayments 7,087 9,752
Derivatives 0 705
Inventories 25,198 20,035
Total current assets 142,858 130,020
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in associates 226 214
Other financial assets 2,551 317
Deferred income tax assets 9,452 10,664
Investment property 300 300
Property, plant and equipment 1,583,002 1,663,100
Intangible assets 61,153 66,700
---------------------------------------------------------
Total non-current assets 1,656,684 1,741,295
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,799,542 1,871,315
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 145,261 63,627
Trade and other payables 86,793 94,054
Deferred income 25,226 23,965
Derivatives 22,668 17,634
Total current liabilities 279,948 199,280
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
---------------------------------------------------------
Interest bearing loans and borrowings 814,305 1,004,244
Other liabilities 198 74
--------------------------------------------------------------------------------
Total non-current liabilities 814,503 1,004,318
--------------------------------------------------------------------------------
TOTAL LIABILITIES 1,094,451 1,203,598
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,290 430,648
Share premium 639 639
Reserves 70,497 72,607
Retained earnings 229,665 163,823
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 705,091 667,717
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 705,091 667,717
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,799,542 1,871,315
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EUR) 01.09.2010 - 01.09.2009 -
31.12.2011 31.08.2010
Cash flows from operating activities
Net profit/-loss for the period 37,476 21,850
Adjustments 164,038 127,208
Changes in assets related to operating activities 5,735 9,796
Changes in liabilities related to operating -3,711 5,009
activities
Income tax paid -107 -71
--------------------------------------------------------------------------------
203,431 163,792
--------------------------------------------------------------------------------
Cash flow used for investing activities
Purchase of property, plant and equipment and -13,258 -6,112
intangible assets
Proceeds from disposals of property, plant and 84 6,704
equipment
Issue of shares by associates -169 -587
Issue of shares by other companies -5 0
Payments from settlement of derivatives -7,236 -4,460
Interest received 380 173
--------------------------------------------------------------------------------
-20,204 -4,282
--------------------------------------------------------------------------------
Cash flow from (+)/ used for (-) financing
activities
Redemption of loans -112,093 -60,348
Change in overdraft 0 -46,115
Repayment of finance lease liabilities -114 -403
Interest paid -53,087 -45,138
-165,294 -152,004
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW 17,933 7,506
--------------------------------------------------------------------------------
Cash and cash equivalents:
- at the beginning of period 57,488 49,982
- increase (+) / decrease (-) 17,933 7,506
--------------------------------------------------------------------------------
Cash and cash equivalents at end of period 75,421 57,488
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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
E-mail [email protected]