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
4459
Attachments
Submission date and time
15.05.2014 09:50:00
Content of announcement in Estonian
Title
2014 majandusaasta I kvartali majandustulemused
Message
Tallinn, 2014-05-15 08:50 CEST (GLOBE NEWSWIRE) --
2014 majandusaasta I kvartali majandustulemused
AS-i Tallink Grupp ja tema tütarettevõtted (Kontsern) vedasid 2014
majandusaasta esimeses kvartalis (1. jaanuar – 31. märts) kokku 1,9 miljonit
reisijat, mida on 0,5% rohkem kui sama perioodi jooksul eelmisel aastal.
Esimeses kvartalis, mis on ühtlasi madalhooaeg, olid mitmed Kontserni laevad
korralises hoolduses. Lisaks avaldas ühekordset mõju kruiisilaeva Silja
Serenade hooldus ning põhjalikud uuendustööd. Täiendavalt võimendasid esimese
kvartali volatiilsust Lihavõttepühad, mis on tavapärasest populaarsem aeg
reisimiseks, kuid mis jäi käesoleval majandusaastal teise kvartalisse. Esimeses
kvartalis korraldati tavapärasest rohkem turunduskampaaniaid, sealhulgas
pikendati kinkekaartide kasutusaega.
Kruiisilaev Silja Serenade läbis põhjaliku reisijate alade uuenduse ning ei
opereerinud jaanuari ja veebruari kuus liinil kokku 40 päeva. Veebruaris 2014
lansseeris Kontsern uuendatud Silja Serenade’i Stockholm-Helsingi liinil.
Laeval on 50% võrra rohkem kaubanduspinda, mis hõlmab endas ka uuendatud
kaupluse kontseptsiooni, uusi müügipindasid ning uut restorani. Uuendati ka
kajuteid ja värskendati SPA ning saunade ala. Hooldus ning uuendustööd tõid
ajutiselt kaasa väiksema arvu laevareise ning seega olid reisijate ja kaubaveo
näitajad madalamad võrreldes eelmise aasta sama perioodiga.
Esimeses kvartalis jätkus kasv Eesti-Soome vahelistel laevaliinidel, kus
müügitulu kasvas 5,2% tuginedes 4,5% reisijate ning 34,2% kaubaveoühikute
kasvule. Pikemast hooldustööde perioodist tulenevalt kahanes Soome-Rootsi
vaheliste liinide reisijate arv 6,1% võrra. Hoolimata reisijate veo langusest,
suutis Kontsern esimeses kvartalis Soome-Rootsi vahel oma turuosa suurendada
võrreldes eelmise aasta sama perioodiga. Kontserni veetud reisijate arv kokku
kõikidel liinidel jäi eelmise aasta tasemele.
Kontserni konsolideeritud müügitulu esimeses kvartalis oli 188,2 miljonit
eurot, mis on 1,2% ehk 2,4 miljonit eurot väiksem kui eelmise majandusaasta
esimeses kvartalis. Keskmine piletitulu reisija kohta vähenes eelmise aasta
esimese kvartaliga võrreldes 4,4% võrra, mõjuteguriteks olid Silja Serenade’i
liinilt eemal olek ning lihavõttepühade langemine teise kvartalisse. 2014
majandusaasta esimese kvartali brutokasum oli 11,8 miljonit eurot ning EBITDA
4,5 miljonit eurot vastavalt 4,5 miljonit eurot ja 2,6 miljonit eurot vähem kui
eelmise majandusaasta samal perioodil. Võrreldes eelmise majandusaasta esimese
kvartaliga oli hoolduspäevi, kui laevad liinidel ei opereerinud, 31% rohkem.
Kontserni auditeerimata puhaskahjum 2014. majandusaasta esimeses kvartalis oli
23,4 miljonit eurot, ehk 0,03 eurot aktsia kohta. Eelmise majandusaasta samal
perioodil oli kahjum 17,5 miljonit eurot ehk 0,03 eurot aktsia kohta.
Kontserni kogulikviidsus ulatus neljanda kvartali lõpus 64,1 miljoni euroni,
mis hõlmab 62,6 miljonit eurot raha ja 1,5 miljonit eurot kasutamata
krediidilimiite, tagades tugeva finantspositsiooni jätkusuutlikuks
opereerimiseks.
PÕHINÄITAJAD 2014 2013 muutus
jaan-märts jaan-märts
--------------------------------------------------------------------------------
EUR EUR
--------------------------------------------------------------------------------
Müügitulu (miljonites) 188,2 190,6 -1,2%
--------------------------------------------------------------------------------
Brutokasum (miljonites) 11,8 16,2 -27,4%
--------------------------------------------------------------------------------
Brutokasumi marginaal 6,3% 8,5%
--------------------------------------------------------------------------------
EBITDA (miljonites) 4,5 7,0 -36,4%
--------------------------------------------------------------------------------
EBITDA marginaal 2,4% 3,7%
--------------------------------------------------------------------------------
Aruande perioodi puhaskasum / -kahjum -23,4 -17,5 -33,4%
(miljonites)
--------------------------------------------------------------------------------
Puhaskasumi marginaal -12,4% -9,20%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon (miljonites) 19,7 17,7 10,4%
--------------------------------------------------------------------------------
Investeeringud (miljonites) 14,1 3,4 319,8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv** 669 882 040 669 882 040
--------------------------------------------------------------------------------
Aktsiakasum -0,03 -0,03 -33,4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 1 905 555 1 895 353 0,5%
--------------------------------------------------------------------------------
Kaubaveo ühikute arv 76 791 67 003 14,6%
--------------------------------------------------------------------------------
Töötajate keskmine arv 6 867 6 756 1,6%
--------------------------------------------------------------------------------
----------------------------------------------- -------
--------------------------
31.03.2014 31.12.2013
--------------------------------------------------------------------------------
Varad 1 711,8 1 722,1 -0,6%
--------------------------------------------------------------------------------
Intressi kandvad kohustused (miljonites) 811,5 794,3 2,2%
--------------------------------------------------------------------------------
Netovõlg (miljonites) 748,9 722,3 3,7%
--------------------------------------------------------------------------------
Omakapital kokku (miljonites) 747,8 771,1 -3,0%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Omakapitali määr 43,7% 44,8%
--------------------------------------------------------------------------------
Netovõla EBITDA suhe 4,9 4,6
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv** 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta 1,12 1,15 -3,0%
--------------------------------------------------------------------------------
EBITDA: Finantstulude ja -kulude, maksude ja 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 miinus raha ja raha ekvivalendid;
Netovõla ja EBITDA suhe: Netovõlg / 12 kuu EBITDA.
** Aktsiate arv ei sisalda oma aktsiaid.
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes eurodes) 01.01.2014- 01.01.2013-
31.03.2014 31.03.2013
================================================================================
Müügitulu 188,206 190,583
Müüdud kaupade ja teenuste kulud -176,419 -174,339
Brutokasum 11,787 16,244
--------------------------------------------------------------------------------
Turustuskulud -15,798 -16,133
Halduskulud -11,389 -11,240
Muud äritulud 213 326
Muud ärikulud -48 -12
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest -15,235 -10,815
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 3,316 2,604
Finantskulud -11,445 -9,306
Kasum/-kahjum enne tulumaksu -23,364 -17,517
--------------------------------------------------------------------------------
Tulumaks -10 -8
Aruandeperioodi puhaskasum/-kahjum -23,374 -17,525
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Summad, mida saab edaspidi ümber liigitada kasumisse
või kahjumisse
Valuutakursi vahed välisettevõtetest 59 9
Perioodi muu koondkasum/-kahjum kokku 59 9
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum kokku -23,315 -17,516
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum aktsia kohta (EUR-ides ühe aktsia kohta)
- tava -0.035 -0.026
- lahustatud -0.035 -0.026
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 31.03.2014 31.12.2013
================================================================================
Käibevara
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid 62,568 72,012
Nõuded ostjate vastu ja muud nõuded 41,960 40,544
Ettemaksed 10,432 3,185
Tuletisinstrumendid 172 679
Varud 30,155 33,457
Käibevara kokku 145,287 149,877
--------------------------------------------------------------------------------
Põhivara
--------------------------------------------------------------------------------
Investeeringud kapitaliosaluse meetodil kajastatud 262 262
investeeringuobjektidesse
Muud finantsvarad 252 385
Edasilükkunud tulumaksuvara 17,413 17,413
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,491,547 1,495,895
Immateriaalne põhivara 56,751 57,925
---------------------------------------------------------
Põhivara kokku 1,566,525 1,572,180
--------------------------------------------------------------------------------
---------------------------------------------------------
VARAD KOKKU 1,711,812 1,722,057
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
================================================================================
Lühiajalised kohustused
--------------------------------------------------------------------------------
Intressikandvad võlakohustused 136,103 106,014
Võlad tarnijatele ja muud võlad 89,499 97,387
Ettemakstud tulud 35,343 28,315
Tuletisinstrumendid 27,589 30,888
Lühiajalised kohustused kokku 288,534 262,604
--------------------------------------------------------------------------------
Pikaajalised kohustused
-----------------------
--------------------------------------------------------------------------------
Intressikandvad võlakohustused 675,390 688,327
Muud kohustused 63 63
--------------------------------------------------------------------------------
Pikaajalised kohustused kokku 675,453 688,390
--------------------------------------------------------------------------------
Kohustused kokku 963,987 950,994
--------------------------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404,290 404,290
Ülekurss 639 639
Reservid 70,247 70,111
Jaotamata kasum 272,649 296,023
--------------------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 747,825 771,063
--------------------------------------------------------------------------------
OMAKAPITAL KOKKU 747,825 771,063
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,711,812 1,722,057
--------------------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.01.2014 - 01.01.2013-
31.03.2014 31.03.2013
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum -23,374 -17,525
Korrigeerimised 28,461 25,439
Äritegevusega seotud nõuete ja ettemaksete muutused -8,512 -8,034
Varude muutused 3,302 2,348
Äritegevusega seotud kohustuste muutused -1,391 3,749
Makstud tulumaks -15 -22
--------------------------------------------------------------------------------
-1,529 5,955
--------------------------------------------------------------------------------
------------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse põhivara -14,121 -3,364
soetamine
Laekumised materiaalse põhivara müügist 97 31
Saadud intressid 4 13
--------------------------------------------------------------------------------
-14,020 -3,320
--------------------------------------------------------------------------------
------------------------------------------------------
Rahavood finantseerimistegevusest
Laenude tagasimaksed -15,024 -19,166
Kasutatud arvelduskrediidi muutus 30,003 42,736
Kapitalirendimaksete tasumine -70 -2
Makstud intressid -7,783 -6,890
Tuletisinstrumentidega seotud maksed -1,021 -1,123
Laenudega seotud tehingukulude tasumine 0 -383
6,105 15,172
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU -9,444 17,807
--------------------------------------------------------------------------------
------------------------------------------------------ ------------
Raha ja raha ekvivalendid
- perioodi alguses 72,012 65,600
- suurenemine (+) / vähenemine (-) -9,444 17,807
--------------------------------------------------------------------------------
- perioodi lõpus 62,568 83,407
--------------------------------------------------------------------------------
Harri Hanschmidt
Finantsosakonna juhataja
AS Tallink Grupp
Sadama 5/7, 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]
Content of announcement in English
Title
Q1 results of the 2014 financial year
Message
Tallinn, 2014-05-15 08:50 CEST (GLOBE NEWSWIRE) --
Q1 results of the 2014 financial year
In the first quarter (1 January- 31 March) of the 2014 financial year AS
Tallink Grupp and its subsidiaries’ (the Group) carried 1.9 million passengers
which is 0.5% more compared to the same period last year. In the first quarter,
which is also low season, several of the Group’s vessels went through scheduled
maintenance works. As a one-time effect the results were affected by the cruise
ferry Silja Serenade going through extensive upgrade works. Volatility to the
first quarter was added by the fact that the Easter holiday, which is a very
popular travel period fell this time in to the second quarter of the 2014
financial year. Throughout the first quarter an increased amount of marketing
campaigns were conducted, including the extension of gift vouchers expiration
periods.
The cruise ferry Silja Serenade was out of operations in January and February
for a total of 40 days undergoing an extensive upgrade of the public areas. In
February the refreshed vessel Silja Serenade was launched on the
Stockholm-Helsinki route. The vessel has a 50% expanded shopping area and
includes upgrades to stores, the buffet and features a new restaurant. Several
of the public areas received a facelift including the refurbishment of cabins
and a refreshed SPA & Sauna area. The maintenance & upgrade works resulted
temporary in fewer voyages and hence lower passenger and cargo volumes on
Sweden-Finland routes.
In the first quarter the Estonia-Finland route continued to show positive
developments with revenue increasing nearly 5.2% driven by 4.5% growth in
passenger volume and 34.2% growth in cargo units. Due to the extended upgrade
works the Finland-Sweden routes experienced a 6.1% decline in passenger
volumes. Despite the decline in the passenger numbers the Group managed to
increase the passenger market share on the Finland-Sweden route in the first
quarter compared to the same period last year. The passenger volume in the
first quarter for the Group in total remained on the last year’s level.
The Group’s consolidated revenue in the first quarter was EUR 188.2 million,
being 1.2% or EUR 2.4 million less than a year ago. The average revenue per
passenger decreased by 4.4%. In the first quarter of the 2014 financial year
the Group’s gross profit amounted to EUR 11.8 million and EBITDA to EUR 4.5
million being respectively EUR 4.5 million and EUR 2.6 million less compared to
the same period last year. The decline in the Group’s results is related to
maintenance and upgrade works on Silja Serenade and the Easter falling into the
second quarter. In the first quarter there were 31% more service days where
ships were out of the operation when compared to the same period in the last
year.
The unaudited net loss for the first quarter of the 2014 financial year was EUR
23.4 million or EUR 0.03 per share compared to the net loss of EUR 17.5 million
or EUR 0.03 per share in the same period last year.
The total liquidity, cash and unused credit facilities at the end of the first
quarter were EUR 64.1 million providing a strong position for sustainable
operations. At the end of the first quarter 2014 the Group had EUR 62.6 million
in cash and equivalents and the total of unused credit lines were at EUR 1.5
million.
Q1 KEY FIGURES 2014 2013 Change
Jan-Mar Jan-Mar
----------------------------------------------------------
Revenue EUR million 188.2 190.6 -1.2%
--------------------------------------------------------------------------------
Gross profit EUR million 11.8 16.2 -27.4%
--------------------------------------------------------------------------------
Gross margin (%) 6.3% 8.5%
--------------------------------------------------------------------------------
EBITDA EUR million 4.5 7.0 -36.4%
--------------------------------------------------------------------------------
EBITDA margin (%) 2.4% 3.7%
--------------------------------------------------------------------------------
Net profit for the EUR million -23.4 -17.5 -33.4%
period
--------------------------------------------------------------------------------
Net profit margin (%) -12.4% -9.2%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation and EUR million 19.7 17.8 10.4%
amortization
--------------------------------------------------------------------------------
Investments EUR million 14.1 3.4 319.8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of ordinary shares 669 882 040 669 882 040
outstanding
--------------------------------------------------------------------------------
Earnings per share EUR -0.03 -0.03 -33.4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 1 905 555 1 895 353 0.5%
--------------------------------------------------------------------------------
Number of cargo units 76 791 67 003 14.6%
--------------------------------------------------------------------------------
Average number of 6 867 6 756 1.6%
employees
--------------------------------------------------------------------------------
----------------------------------------------- -------
--------------------------
31.03.2014 31.12.2013
--------------------------------------------------------------------------------
Total assets EUR million 1 711.8 1 722.1 -0.6%
--------------------------------------------------------------------------------
Interest-bearing EUR million 811.5 794.3 2.2%
liabilities
--------------------------------------------------------------------------------
Net debt EUR million 748.9 722.3 3.7%
--------------------------------------------------------------------------------
Total equity EUR million 747.8 771.1 -3.0%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Equity ratio (%) 43.7% 44.8%
--------------------------------------------------------------------------------
Net debt to EBITDA 4.9 4.6
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of ordinary 669 882 040 669 882 040 0%
shares outstanding1
--------------------------------------------------------------------------------
Shareholders’ equity per EUR 1.12 1.15 -3.0%
share
--------------------------------------------------------------------------------
EBITDA: Earnings before net financial items, taxes, depreciation and
amortization;
Earnings per share: net profit / weighted average number of shares outstanding;
Equity ratio: total equity / total assets;
Shareholder’s equity per share: shareholder’s equity / number of shares
outstanding;
Gross margin: gross profit / net sales;
EBITDA margin: EBITDA / net sales;
Net profit margin: net profit / net sales;
Net debt: Interest bearing liabilities less cash and cash equivalents;
Net debt to EBITDA: Net debt / 12-months trailing EBITDA.
1 Share numbers exclude own shares.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of EUR) 01.01.2014- 01.01.2013-
31.03.2014 31.03.2013
================================================================================
Revenue 188,206 190,583
Cost of sales -176,419 -174,339
Gross profit 11,787 16,244
--------------------------------------------------------------------------------
Marketing expenses -15,798 -16,133
Administrative expenses -11,389 -11,240
Other income 213 326
Other expenses -48 -12
--------------------------------------------------------------------------------
Result from operating activities -15,235 -10,815
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 3,316 2,604
Finance costs -11,445 -9,306
Profit/-loss before income tax -23,364 -17,517
--------------------------------------------------------------------------------
Income tax -10 -8
--------------------------------------------------------------------------------
Net profit/-loss for the period -23,374 -17,525
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income/-expense
Items that may be reclassified to profit or loss
Exchange differences on translating foreign operations 59 9
Other comprehensive income/-expense for the period 59 9
--------------------------------------------------------------------------------
Total comprehensive income/-expense for the period -23,315 -17,516
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Earnings per share (in EUR per share)
- basic -0.035 -0.026
- diluted -0.035 -0.026
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
ASSETS 31.03.2014 31.12.2013
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 62,568 72,012
Trade and other receivables 41,960 40,544
Prepayments 10,432 3,185
Derivatives 172 679
Inventories 30,155 33,457
Total current assets 145,287 149,877
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in equity-accounted investees 262 262
Other financial assets 252 385
Deferred income tax assets 17,413 17,413
Investment property 300 300
Property, plant and equipment 1,491,547 1,495,895
Intangible assets 56,751 57,925
---------------------------------------------------------
Total non-current assets 1,566,525 1,572,180
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,711,812 1,722,057
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 136,103 106,014
Trade and other payables 89,499 97,387
Deferred income 35,343 28,315
Derivatives 27,589 30,888
Total current liabilities 288,534 262,604
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 675,390 688,327
Other liabilities 63 63
--------------------------------------------------------------------------------
Total non-current liabilities 675,453 688,390
--------------------------------------------------------------------------------
TOTAL LIABILITIES 963,987 950,994
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,290 404,290
Share premium 639 639
Reserves 70,247 70,111
Retained earnings 272,649 296,023
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 747,825 771,063
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 747,825 771,063
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,711,812 1,722,057
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EUR) 01.01.2014 - 01.01.2013-
31.03.2014 31.03.2013
Cash flows from operating activities
Net profit/-loss for the period -23,374 -17,525
Adjustments 28,461 25,439
Changes in receivables and prepayments related to -8,512 -8,034
operating activities
Changes in inventories 3,302 2,348
Changes in liabilities related to operating -1,391 3,749
activities
Income tax paid -15 -22
--------------------------------------------------------------------------------
-1,529 5,955
--------------------------------------------------------------------------------
------------------------------------------------------
Cash flow used for investing activities
Purchase of property, plant and equipment and -14,121 -3,364
intangible assets
Proceeds from disposals of property, plant and 97 31
equipment
Interest received 4 13
--------------------------------------------------------------------------------
-14,020 -3,320
--------------------------------------------------------------------------------
------------------------------------------------------
Cash flow from (+)/ used for (-) financing activities
Redemption of loans -15,024 -19,166
Change in overdraft 30,003 42,736
Repayment of finance lease liabilities -70 -2
Interest paid -7,783 -6,890
Payments for settlement of derivatives -1,021 -1,123
Payment of transaction costs related to loans 0 -383
6,105 15,172
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW -9,444 17,807
--------------------------------------------------------------------------------
------------------------------------------------------ ------------
Cash and cash equivalents:
- at the beginning of period 72,012 65,600
- increase (+) / decrease (-) -9,444 17,807
--------------------------------------------------------------------------------
Cash and cash equivalents at the end of period 62,568 83,407
--------------------------------------------------------------------------------
Harri Hanschmidt
Head of the Finance Department
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]