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
5233
Attachments
Submission date and time
12.11.2015 09:50:00
Content of announcement in Estonian
Title
AS-i Tallink Grupp 2015. majandusaasta auditeerimata konsolideeritud III kvartali vahearuanne
Message
Tallinn, 2015-11-12 08:50 CET (GLOBE NEWSWIRE) --
AS-i Tallink Grupp 2015. majandusaasta auditeerimata konsolideeritud III
kvartali vahearuanne
AS Tallink Grupp ja tema tütarettevõtted (Kontsern) vedasid 2015. majandusaasta
kolmandas kvartalis (1. juuli – 30. september) kokku 2,7 miljonit reisijat,
mida on 5,5% võrra rohkem kui eelmise aasta sama perioodi jooksul. Kontserni
kolmanda kvartali auditeerimata müügitulu kasvas 10,9 miljoni euro ehk 4,2%
võrra, kokku 273,6 miljoni euroni, EBITDA kasvas 12,8 miljoni euro ehk 20,1%
võrra, kokku 76,8 miljoni euroni. Kontserni auditeerimata puhaskasum kasvas 9
miljoni euro ehk 25,1% võrra, kokku 45,2 miljoni euroni võrreldes eelmise aasta
sama perioodiga.
Kontserni 2015. aasta esimese 9 kuu auditeerimata müügitulu oli 717,6 miljonit
eurot ja kasvas 20,3 miljoni euro ehk 2,9% võrra. EBITDA kasvas 41,9 miljoni
euro võrra 151,5 miljoni euroni ja puhaskasum kasvas 41,5 miljoni võrra 60,4
miljoni euroni võrreldes eelmise aasta sama perioodiga.
Eesti-Soome vahelise laevaliini müügitulu suurenes kolmandas kvartalis
võrreldes eelmise aasta sama perioodiga 5,6%, tuginedes peamiselt 8,9% võrra
kasvanud reisijate arvule. Reisijate arv oli liinil suurim juulis kui Kontsern
teenindas rekordiliselt 600 tuhat reisijat, mis on sellel liinil kõigi aegade
suurim kuine reisijate arv. Transporditud kaubaveoühikute arv kasvas
Eesti-Soome laevaliinil 15,3% võrra, kasvu toetas peamiselt liinile toodud
kaubalaev.
Soome-Rootsi vaheliste laevaliinide müügitulu suurenes kolmandas kvartalis
võrreldes eelmise aasta sama perioodiga 6,5%, tuginedes 8,4% võrra kasvanud
reisijate arvule. Transporditud kaubaveoühikute arv vähenes oodatavalt 28,8%
võrra seoses liinilt äraviidud kaubalaevaga.
Eesti-Rootsi vahelise laevaliini reisijate arv kasvas 1,5% ning kaubaveoühikute
arv vähenes 8,3%. Läti-Rootsi laevaliinil opereerib eelmise aastaga võrreldes
üks laev vähem ja reisijate veo langus oli oodatavalt 25,6%, veetud
kaubaveoühikute arv kahanes 35,2% võrra.
Kontserni restoranide ja poodide müügitulu suurenes kolmandas kvartalis 9
miljoni euro ehk 6,8% võrra võrreldes eelmise aasta sama perioodiga, müügi
kasvu toetas peamiselt reisijate arvu kasv. Eelmisel aastal teostatud laevade
restoranide ja poodide kontseptsioonide uuendused ning muudatused laevade
opereerimises aitasid tõsta keskmist pardamüügi tulu reisija kohta.
Laevade prahtimise tulu vähenes kolmandas kvartalis võrreldes eelmise aasta
sama perioodiga. Prahtimise tulu vähenes, kuna 2015. aasta teises kvartalis
lõppesid kahe laeva prahilepingud seoses nende müügiga.
Kolmandas kvartalis, mis on ühtlasi ka suvine kõrghooaeg, avaldus Kontserni
opereeritavatel laevaliinidel tugev reisijateveo hinnakonkurents. Tänu
proaktiivsele turundustegevusele, nähtavamatele müügikampaaniatele ja
varasematele investeeringutele üha olulisematesse elektroonilistesse
müügikanalitesse, suurendas Kontsern peamistel laevaliinidel oma turuosa ja
teenis suuremat kogutulu.
Veebruaris 2015 allkirjastas AS Tallink Grupp lepingu uue generatsiooni LNG
kiirlaeva ehitamiseks, laeva ehitab Meyer Turku Oy ja maksumus on 230 miljonit
eurot. 4. augustil 2015 tähistati Turus Meyer Turku laevatehases Tallinki uue
LNG kiirlaeva tootmise algust, laeva üleandmine on planeeritud selle valmimisel
2017. aasta alguses. Uus LNG kiirlaev hakkab opereerima Tallinn-Helsingi liini
Shuttle teenust.
AS Tallink Grupp on otsustanud müüa Tallinn-Helsingi liinil opereeriva
kiirlaeva Superstar, et tagada Kontserni valmisolek uue LNG kiirlaeva toomiseks
Tallinn-Helsingi liinile 2017. aasta alguses. Kiirlaev Superstar müüakse
Corsica Ferries grupi ettevõttele, samaaegselt sõlmiti ostjaga prahileping,
mille alusel jätkab Kontsern kiirlaevaga Superstar Tallinn-Helsingi liinil
opereerimist 2017. aasta alguseni kui liinile tuuakse uue generatsiooni LNG
kiirlaev. Kiirlaeva Superstar omandiõiguse üleminek ja prahilepingu algus on
planeeritud detsembrisse 2015.
2015. majandusaasta kolmanda kvartali brutokasum oli 84,4 miljonit eurot ning
EBITDA 76,8 miljonit eurot, vastavalt 15,2 miljonit eurot ja 12,9 miljonit
eurot rohkem võrreldes eelmise aasta sama perioodiga. Kontserni
majandustulemuse paranemine on põhiliselt tingitud reisijate arvu kasvust,
suuremast keskmisest pardamüügi tulust reisija kohta ning opereerimisega seotud
kulude vähenemisest.
Kontserni netovõlg vähenes kolmandas kvartalis 30,8 miljoni euro võrra 583,6
miljoni euroni ning netovõla ja EBITDA suhe oli kolmanda kvartali lõpu seisuga
3,0. Kontserni intressikulud vähenesid 2,9 miljoni euro võrra, samal ajal
vähenesid tulud finantsinstrumentidega seotud valuutakursside ümberhindlustest
ning finantskulu kokku suurenes 1,3 miljoni euro võrra võrreldes eelmise aasta
sama perioodiga.
Kontserni auditeerimata puhaskasum oli 2015. majandusaasta kolmanda kvartalis
45,2 miljonit eurot ehk 0,07 eurot aktsia kohta, eelmise aasta sama perioodi
puhaskasum oli 36,2 miljonit eurot ehk 0,05 eurot aktsia kohta. Kontserni 2015.
aasta üheksa kuu puhaskasum oli 60,4 miljonit eurot ehk 0,09 eurot aktsia
kohta, eelmise aasta sama perioodi puhaskasum oli 18,9 miljonit eurot ehk 0,03
eurot aktsia kohta.
Vastavalt 2015. aasta juunis toimunud aktsionäride üldkoosoleku otsusele maksti
juuli alguses aktsionäridele välja dividende kokku 13,4 miljonit eurot (0,02
eurot aktsia kohta).
Käesoleva majandusaasta kolmandas kvartalis kasvas rahavoog äritegevusest kokku
4,5 miljonit eurot võrreldes eelmise aasta sama perioodiga. Kontserni
kogulikviidsus ulatus kolmanda kvartali lõpus 100,4 miljoni euroni, mis hõlmab
79,1 miljonit eurot raha ja 21,3 miljonit eurot kasutamata krediidilimiite,
tagades tugeva finantspositsiooni jätkusuutlikuks opereerimiseks.
PÕHINÄITAJAD 2015 2014 muutus
juuli-septemb juuli-septemb
er er
--------------------------------------------------------------------------------
EUR EUR
--------------------------------------------------------------------------------
Müügitulu (miljonites) 273,6 262,7 4,2%
--------------------------------------------------------------------------------
Brutokasum (miljonites) 84,8 69,6 21,8%
--------------------------------------------------------------------------------
Brutokasumi marginaal 31,0% 26,5%
--------------------------------------------------------------------------------
EBITDA (miljonites) 76,8 64,0 20,1%
--------------------------------------------------------------------------------
EBITDA marginaal 28,1% 24,4%
--------------------------------------------------------------------------------
Aruande perioodi puhaskasum / -kahjum 45,2 36,2 25,1%
(miljonites)
--------------------------------------------------------------------------------
Puhaskasumi marginaal 16,5% 13,8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon (miljonites) 18,4 19,3 -4,7%
--------------------------------------------------------------------------------
Investeeringud (miljonites) 11,3 10,6 6,6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv* 669 882 040 669 882 040 0,0%
--------------------------------------------------------------------------------
Aktsiakasum 0,07 0,05 25,1%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 2 701 412 2 561 257 5,5%
--------------------------------------------------------------------------------
Kaubaveo ühikute arv 76 062 76 830 -1,0%
--------------------------------------------------------------------------------
Töötajate keskmine arv 7 040 7 181 -2,0%
--------------------------------------------------------------------------------
------------------------------------------- -------
------------------------------
30.09.2015 30.06.2015
--------------------------------------------------------------------------------
Varad 1 652,6 1 665,5 -0,8%
--------------------------------------------------------------------------------
Intressi kandvad kohustused (miljonites) 662,7 695,5 -4,7%
--------------------------------------------------------------------------------
Netovõlg (miljonites) 583,6 614,5 -5,0%
--------------------------------------------------------------------------------
Omakapital kokku (miljonites) 825,3 780,2 5,8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Omakapitali määr 49,9% 46,8%
--------------------------------------------------------------------------------
Netovõla EBITDA suhe 3,0 3,4
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv* 669 882 040 669 882 040 0,0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta 1,23 1,16 5,8%
--------------------------------------------------------------------------------
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 01.07.2015- 01.07.2014- 01.01.2015- 01.01.2014-
eurodes)
30.09.2015 30.09.2014 30.09.2015 30.09.2014
================================================================================
Müügitulu (Lisa 3) 273 557 262 656 717 572 697 325
Müüdud kaupade ja teenuste -188 803 -193 085 -544 341 -565 007
kulud
Brutokasum 84 754 69 571 173 231 132 318
--------------------------------------------------------------------------------
Turunduskulud -15 085 -15 084 -46 801 -46 883
Üldhalduskulud -10 992 -10 296 -34 310 -35 573
Muud äritulud -125 462 1 360 987
Muud ärikulud -156 -18 -737 -358
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 58 396 44 635 92 743 50 491
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud (Lisa 4) 2 210 3 270 9 507 7 137
Finantskulud (Lisa 4) -12 039 -11 747 -32 647 -33 384
Kasum/-kahjum enne tulumaksu 48 567 36 158 69 603 24 244
--------------------------------------------------------------------------------
Tulumaks -3 355 -8 -9 205 -5 367
Aruandeperioodi 45 212 36 150 60 398 18 877
puhaskasum/-kahjum
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Summad, mida saab edaspidi
ümber liigitada kasumisse
või kahjumisse
Valuutakursi vahed -202 36 -256 44
välisettevõtetest
Perioodi muu -202 36 -256 44
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum 45 010 36 186 60 142 18 921
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum aktsia kohta (eurodes
ühe aktsia kohta)
- tava (Lisa 5) 0,07 0,05 0,09 0,03
- lahustatud (Lisa 5) 0,07 0,05 0,09 0,03
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 30.09.2015 31.12.2014
================================================================================
Käibevara
Raha ja raha ekvivalendid 79 107 65 311
--------------------------------------------------------------------------------
Nõuded ostjate vastu ja muud nõuded 42 022 38 210
Ettemaksed 10 938 5 448
Varud 28 676 31 315
Käibevara kokku 160 743 140 284
--------------------------------------------------------------------------------
Põhivara
Investeeringud kapitaliosaluse meetodil kajastatud 286 286
investeeringuobjektidesse
--------------------------------------------------------------------------------
Muud finantsvarad 315 252
Edasilükkunud tulumaksu vara 21 349 21 338
Kinnisvarainvesteeringud 300 300
Materiaalne põhivara (Lisa 7) 1 416 648 1 467 964
Immateriaalne vara (Lisa 8) 52 941 55 174
---------------------------------------------------------
Põhivara kokku 1 491 839 1 545 314
--------------------------------------------------------------------------------
---------------------------------------------------------
VARAD KOKKU 1 652 582 1 685 598
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
================================================================================
Lühiajalised kohustused
Intressikandvad võlakohustused (Lisa 9) 139 672 149 850
--------------------------------------------------------------------------------
Võlad tarnijatele ja muud võlad 83 546 91 236
Tulumaksukohustus 6 800 1 300
Ettemakstud tulud 30 254 29 408
Tuletisinstrumendid (Lisa 6) 43 985 41 982
Lühiajalised kohustused kokku 304 257 313 776
--------------------------------------------------------------------------------
Pikaajalised kohustused
-----------------------
-----------------------
Intressikandvad võlakohustused (Lisa 9) 523 062 593 532
---------------------------------------------------------
Pikaajalised kohustused kokku 523 062 593 532
--------------------------------------------------------------------------------
Kohustused kokku 827 319 907 308
--------------------------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404 290 404 290
Ülekurss 639 639
Reservid 71 465 70 129
Jaotamata kasum 348 869 303 232
--------------------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 825 263 778 290
--------------------------------------------------------------------------------
OMAKAPITAL KOKKU 825 263 778 290
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1 652 582 1 685 598
--------------------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.01.2015- 01.01.2014-
30.09.2015 30.09.2014
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 60 398 18 877
Korrigeerimised 91 250 92 806
Äritegevusega seotud nõuete ja ettemaksete muutused -8 089 -6 165
Varude muutused 2 639 5 077
Äritegevusega seotud kohustuste muutused -7 103 -3 973
Makstud tulumaks -490 108
--------------------------------------------------------------------------------
138 605 106 730
--------------------------------------------------------------------------------
-------------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse vara ostmine -29 823 -30 919
(Lisad 7, 8, 9)
Laekumised materiaalse põhivara müügist 25 004 180
Saadud intressid 57 78
--------------------------------------------------------------------------------
-4 762 -30 661
--------------------------------------------------------------------------------
-------------------------------------------------------
Rahavood finantseerimistegevusest
Laenude tagasimaksed (Lisa 9) -68 962 -59 946
Arvelduskrediidi muutus (Lisa 9) -8 700 31 069
Kapitalirendimaksete tasumine (Lisa 9) -60 -54
Makstud intressid -21 485 -24 574
Tuletisinstrumentidega seotud maksed -3 195 -3 033
Laenudega seotud tehingukulude tasumine -1 429 0
Makstud dividendid (Lisa 12) -13 398 -20 096
Tulumaks makstud dividendidelt -2 818 -5 342
-120 047 -81 976
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU 13 796 -5 907
--------------------------------------------------------------------------------
------------------------------------------------------- ------------
Raha ja raha ekvivalendid
- perioodi alguses 65 311 72 012
- suurenemine (+) / vähenemine (-) 13 796 -5 907
--------------------------------------------------------------------------------
- perioodi lõpus 79 107 66 105
--------------------------------------------------------------------------------
Veiko Haavapuu
Finantsdirektor
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 9914
E-mail [email protected]
Content of announcement in English
Title
AS Tallink Grupp Unaudited Consolidated Interim Report Q3 2015
Message
Tallinn, 2015-11-12 08:50 CET (GLOBE NEWSWIRE) --
AS Tallink Grupp Unaudited Consolidated Interim Report Q3 2015
In the third quarter (1 July – 30 September) of the 2015 financial year AS
Tallink Grupp and its subsidiaries’ (the Group) carried 2.7 million passengers
which is 5.5% more compared to the third quarter last year. The Group’s
unaudited revenue for the third quarter of 2015 increased by EUR 10.9 million
or 4.2% year on year to the total of EUR 273.6 million, EBITDA increased by EUR
12.8 million or 20.1% to the total of EUR 76.8 million, compared to the same
period last year. Net profit increased by EUR 9 million or 25.1% to the total
of EUR 45.2 million, compared to the same period last year.
The Group’s revenue for the first nine months of 2015 was EUR 717.6 million and
increased by EUR 20.3 million or 2.9% year on year comparison. EBITDA increased
by EUR 41.9 million to the total of EUR 151.5 million and net profit increased
by EUR 41.5 million to the total of EUR 60.4 million, compared to the same
period last year.
The Estonia-Finland route third quarter revenue increased by 5.6% compared to
same period last year. The increase is driven mainly by an 8.9% growth in the
passenger number. The passenger number peaked in July when Group served a
record number of 600 thousand passengers, which is an all-time high monthly
passenger number on that route. The growth of 15.3% in cargo units transported
is supported mainly by added capacity.
The Finland-Sweden routes third quarter revenue increased by 6.5% compared to
the same period last year, driven by 8.4% growth in the passenger number. The
number of cargo units transported decreased by 28.8% due to reduced capacity.
The Estonia-Sweden route passenger number increased by 1.5% and cargo volumes
decreased by 8.3%. The Latvia-Sweden route, operating with only one vessel
compared to two vessels last year, showed a 25.6% decline in the passenger
number and cargo units transported decreased by 35.2%.
The Group’s restaurants and shop sales increased by EUR 9 million or 6.8% in
the third quarter, compared to the same period last year, the sales growth is
supported mainly by the growth in the passenger number. The upgrades to
restaurant and shop concept throughout the fleet in past year, combined with
the operational changes, have resulted in higher average on-board revenue per
passenger.
The revenue from the chartered out vessels has reduced in the third quarter
compared to the same period last year due to fewer ships in charter. Two ships
previously in charter were sold in the second quarter of 2015.
In the third quarter, the summer period high season, the Group experienced
strong price competition. The proactive marketing activities, improved
visibility of sales campaigns and earlier investments into increasingly
important online sales solutions has enabled the Group to reclaim the market
share on its main routes and increase the total revenue.
In February 2015 AS Tallink Grupp signed a contract for the construction of the
new generation LNG powered fast ferry. The new fast ferry is being built by
Meyer Turku Oy and will cost around 230 million euros. The start of production
of the new LNG fast ferry was celebrated on the 4th of August 2015 at Meyer
Turku shipyard and the delivery of the vessel is planned in the beginning of
2017. The new LNG fast ferry is going to operate on the Tallinn-Helsinki route
shuttle service.
In order to be ready for the delivery of the new generation LNG fast ferry to
the Tallinn-Helsinki route early 2017, the Group has decided to sell the fast
ferry Superstar, at present operating on the route shuttle service. The fast
ferry Superstar will be sold to Corsica Ferries Group, concurrently the parties
have entered into bareboat charter agreement and the Group will continue to
operate the fast ferry Superstar on its Tallinn-Helsinki route shuttle service
until the beginning of 2017, when the new LNG fast ferry will start to operate
on the route. Change of the ownership of the fast ferry Superstar and start of
the charter period is planned in December 2015.
In the third quarter of the 2015 financial year the Group’s gross profit
amounted to EUR 84.8 million and EBITDA to EUR 76.8 million being respectively
EUR 15.2 million and EUR 12.9 million more compared to the same period last
year. The increase in the Group’s results is mainly attributed to the growth in
passenger number, higher on-board revenue per passenger and decreased costs
related to operations.
The Group’s net debt decreased by EUR 30.8 million to a total of EUR 583.6
million and the net debt to EBITDA ratio was 3.0 at the end of third quarter.
The Group’s interest cost reduced by EUR 2.9 million, combined with less gain
from foreign exchange revaluations, the total finance costs increased by EUR
1.3 million compared to the third quarter last year.
The unaudited net profit for the third quarter of the 2015 financial year was
EUR 45.2 million or EUR 0.07 per share compared to the net profit of EUR 36.2
million or EUR 0.05 per share in the same period last year. The Group’s net
profit for the nine months of the 2015 financial year was EUR 60.4 million or
EUR 0.09 per share compared to the EUR 18.9 million or EUR 0.03 per share in
the same period last year.
The total dividend of EUR 13.4 million (0.02 euros per share) was paid out in
the beginning of July 2015 according to the decision of Annual General Meeting
from June 2015.
Cash flow from operations increased by EUR 4.5 million in third quarter
compared to the same period last year. The total liquidity, cash and unused
credit facilities, at the end of the third quarter was EUR 100.4 million
providing a strong financial position. At the end of the third quarter of 2015
the Group had EUR 79.1 million in cash and equivalents and the total of unused
credit lines were at EUR 21.3 million.
Q3 KEY FIGURES 2015 2014 Change
July-Sep July-Sep
----------------------------------------------------------
Revenue EUR million 273.6 262.7 4.2%
--------------------------------------------------------------------------------
Gross profit EUR million 84.8 69.6 21.8%
--------------------------------------------------------------------------------
Gross margin 31.0% 26.5%
--------------------------------------------------------------------------------
EBITDA EUR million 76.8 64.0 20.1%
--------------------------------------------------------------------------------
EBITDA margin 28.1% 24.4%
--------------------------------------------------------------------------------
Net profit for the EUR million 45.2 36.2 25.1%
period
--------------------------------------------------------------------------------
Net profit margin 16.5% 13.8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation and EUR million 18.4 19.3 -4.7%
amortization
--------------------------------------------------------------------------------
Investments EUR million 11.3 10.6 6.6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of ordinary shares 669,882,040 669,882,040 0.0%
outstanding
--------------------------------------------------------------------------------
Earnings per share EUR 0.07 0.05 25.1%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2,701,412 2,561,257 5.5%
--------------------------------------------------------------------------------
Number of cargo units 76,062 76,830 -1.0%
--------------------------------------------------------------------------------
Average number of 7,040 7,181 -2.0%
employees
--------------------------------------------------------------------------------
----------------------------------------------- -------
--------------------------
30.09.2015 30.06.2015
--------------------------------------------------------------------------------
Total assets EUR million 1,652.6 1,665.5 -0.8%
--------------------------------------------------------------------------------
Interest-bearing EUR million 662.7 695.5 -4.7%
liabilities
--------------------------------------------------------------------------------
Net debt EUR million 583.6 614.5 -5.0%
--------------------------------------------------------------------------------
Total equity EUR million 825.3 780.2 5.8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Equity ratio 49.9% 46.8%
--------------------------------------------------------------------------------
Net debt to EBITDA 3.0 3.4
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of ordinary shares outstanding1 669,882,040 669,882,040 0.0%
--------------------------------------------------------------------------------
Shareholders’ equity per EUR 1.23 1.16 5.8%
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 01.07.2015- 01.07.2014- 01.01.2015- 01.01.2014-
euros)
30.09.2015 30.09.2014 30.09.2015 30.09.2014
================================================================================
Revenue (Note 3) 273,557 262,656 717,572 697,325
Cost of sales -188,803 -193,085 -544,341 -565,007
Gross profit 84,754 69,571 173,231 132,318
--------------------------------------------------------------------------------
Marketing expenses -15,085 -15,084 -46,801 -46,883
Administrative expenses -10,992 -10,296 -34,310 -35,573
Other income -125 462 1,360 987
Other expenses -156 -18 -737 -358
--------------------------------------------------------------------------------
Result from operating 58,396 44,635 92,743 50,491
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income (Note 4) 2,210 3,270 9,507 7,137
Finance costs (Note 4) -12,039 -11,747 -32,647 -33,384
Profit/-loss before income 48,567 36,158 69,603 24,244
tax
--------------------------------------------------------------------------------
Income tax -3,355 -8 -9,205 -5,367
--------------------------------------------------------------------------------
Net profit/-loss for the 45,212 36,150 60,398 18,877
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Items that may be
reclassified to profit or
loss
Exchange differences on -202 36 -256 44
translating foreign
operations
Other comprehensive -202 36 -256 44
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive 45,010 36,186 60,142 18,921
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Earnings per share (in EUR
per share)
- basic (Note 5) 0.07 0.05 0.09 0.03
- diluted (Note 5) 0.07 0.05 0.09 0.03
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of euros)
ASSETS 30.09.2015 31.12.2014
================================================================================
Current assets
Cash and cash equivalents 79,107 65,311
--------------------------------------------------------------------------------
Trade and other receivables 42,022 38,210
Prepayments 10,938 5,448
Inventories 28,676 31,315
Total current assets 160,743 140,284
--------------------------------------------------------------------------------
Non-current assets
Investments in equity-accounted investees 286 286
--------------------------------------------------------------------------------
Other financial assets 315 252
Deferred income tax assets 21,349 21,338
Investment property 300 300
Property, plant and equipment (Note 7) 1,416,648 1,467,964
Intangible assets (Note 8) 52,941 55,174
---------------------------------------------------------
Total non-current assets 1,491,839 1,545,314
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,652,582 1,685,598
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
Interest bearing loans and borrowings (Note 9) 139,672 149,850
--------------------------------------------------------------------------------
Trade and other payables 83,546 91,236
Income tax liability 6,800 1,300
Deferred income 30,254 29,408
Derivatives (Note 6) 43,985 41,982
Total current liabilities 304,257 313,776
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
-----------------------
Interest bearing loans and borrowings (Note 9) 523,062 593,532
---------------------------------------------------------
Total non-current liabilities 523,062 593,532
--------------------------------------------------------------------------------
TOTAL LIABILITIES 827,319 907,308
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,290 404,290
Share premium 639 639
Reserves 71,465 70,129
Retained earnings 348,869 303,232
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 825,263 778,290
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 825,263 778,290
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,652,582 1,685,598
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of euros) 01.01.2015- 01.01.2014-
30.09.2015 30.09.2014
Cash flows from operating activities
Net profit/-loss for the period 60,398 18,877
Adjustments 91,250 92,806
Changes in receivables and prepayments related to -8,089 -6,165
operating activities
Changes in inventories 2,639 5,077
Changes in liabilities related to operating activities -7,103 -3,973
Income tax paid -490 108
--------------------------------------------------------------------------------
138,605 106,730
--------------------------------------------------------------------------------
-------------------------------------------------------
Cash flow used in investing activities
Purchase of property, plant and equipment and -29,823 -30,919
intangible assets (Notes 7, 8, 9)
Proceeds from disposals of property, plant and 25,004 180
equipment
Interest received 57 78
--------------------------------------------------------------------------------
-4,762 -30,661
--------------------------------------------------------------------------------
-------------------------------------------------------
Cash flow used in financing activities
Repayment of loans (Note 9) -68,962 -59,946
Change in overdraft (Note 9) -8,700 31,069
Payment of finance lease liabilities (Note 9) -60 -54
Interest paid -21,485 -24,574
Payments for settlement of derivatives -3,195 -3,033
Payment of transaction costs related to loans -1,429 0
Dividends paid (Note 12) -13,398 -20,096
Income tax on dividends paid -2,818 -5,342
-120,047 -81,976
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW 13,796 -5,907
--------------------------------------------------------------------------------
------------------------------------------------------- ------------
Cash and cash equivalents:
- at the beginning of period 65,311 72,012
- increase (+) / decrease (-) 13,796 -5,907
--------------------------------------------------------------------------------
- at the end of period 79,107 66,105
--------------------------------------------------------------------------------
Veiko Haavapuu
Finance Director
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 9914
E-mail [email protected]