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
5783
Attachments
Submission date and time
10.11.2016 09:50:00
Content of announcement in Estonian
Title
AS-i Tallink Grupp 2016. majandusaasta auditeerimata konsolideeritud III kvartali vahearuanne
Message
Tallinn, 2016-11-10 08:50 CET (GLOBE NEWSWIRE) --
AS-i Tallink Grupp 2016. majandusaasta auditeerimata konsolideeritud III
kvartali vahearuanne
AS Tallink Grupp ja tema tütarettevõtted (edaspidi „Kontsern“) vedasid 2016.
majandusaasta kolmandas kvartalis (1. juuli – 30. september) kokku 2,9 miljonit
reisijat, mida on 5,7% rohkem kui eelmise aasta kolmandas kvartalis. Veetud
kaubaveoühikute arv kasvas 6,7% võrra ning veetud sõiduautode arv kasvas 6,2%
võrreldes eelmise aasta sama perioodiga.
Kontserni auditeerimata konsolideeritud müügitulu oli kolmandas kvartalis 273,5
miljonit eurot, mis on samal tasemel eelmise aasta kolmanda kvartaliga.
Kontserni kolmanda kvartali auditeerimata kulumieelne ärikasum (EBITDA) oli
67,1 miljonit eurot, eelmise aasta samal perioodil 76,8 miljonit eurot ja
auditeerimata puhaskasum oli 42,8 miljonit eurot, eelmise aasta samal perioodil
45,2 miljonit eurot.
2016. majandusaasta kolmandas kvartalis kasvas Kontserni käive kõikidel
opereeritavatel liinidel. Põhitegevuse müügitulu kasvas kolmandas kvartalis
tänu suuremale piletitulule ja pardamüügile, kasvu toetas suurem reisijate arv
Kontserni opereeritavatel laevadel. Laevade väljaprahtimise müügitulu on
eelmise aasta kolmanda kvartaliga võrreldes vähenenud kuna välja oli prahitud
vähem laevu. Kontserni majandustegevuse kogutulemus oli madalam võrreldes
eelmise aasta sama perioodiga, tulemust mõjutasid peamiselt väiksem tulu
laevade väljaprahtimisest ja kiirlaeva Superstar prahtimise kulu.
Juulis 2016 toimusid Meyer Turku laevatehases uue veeldatud maagaasil (LNG)
töötava kiirlaeva Megastar ristimisstseremoonia ja vettelaskmine. Laeva
ehitustööd kulgevad plaanipäraselt ning on alustatud sisetöödega.Uus LNG
kiirlaev Megastar valmib 2017. aasta alguses ja hakkab opereerima Shuttle
teenust Tallinn-Helsingi liinil. Seoses uue laeva valmimisega on Kontsern
algatanud mitmeid turundustegevusi, et tutvustada uut laeva ja selle omadusi
peamistel turgudel, rohkem infot projekti kohta leiab
http://megastar.tallink.com/.
Valmistudes uue LNG kiirlaeva Megastar turule tulekuks järgmisel aastal,
opereeris Kontsern reisilaevaga Silja Europa Tallinn-Helsingi liinil 2016. a.
kolmanda kvartali juulis ja augustis. Reisilaeva Silja Europa liiniletoomine on
võimaldanud Kontsernil suurendada oma turuosa liinil 2% võrra 58%-ni, võrreldes
eelmise aasta sama ajaga. Kolmandas kvartalis kasvas Eesti-Soome vahelistel
laevaliinidel müügitulu 7,0%, müügitulu kasv tuli peamiselt suuremast reisijate
arvust seoses liinile toodud laevaga ja suuremast veetud kaubaveo ühikute
mahust. Eesti-Soome vaheliste laevaliinide segmendi kolmanda kvartali
kasumlikkus oli madalam võrreldes eelmise aasta sama perioodiga seoses
kiirlaeva Superstar prahtimise kuluga.
Soome-Rootsi vaheliste laevaliinide kolmanda kvartali müügitulu kasvas 0,9%,
võrreldes eelmise aasta sama perioodiga. Müügitulu kasvu toetas liinide suurem
reisijate arv. Kontserni Soome-Rootsi vaheliste laevaliinide turuosa kasvas 2%
võrra 54%-le. Transporditud kaubaveoühikute arv kasvas kolmandas kvartalis 5,2%
võrra. Soome-Rootsi vaheliste laevaliinide kolmanda kvartali segmendi kasum oli
veidi madalam seoses suuremate turustus- ja tegevuskuludega.
Sarnaselt 2016. a. eelnevate kvartalite tulemusele, jätkus Eesti-Rootsi ja
Läti-Rootsi liinide positiivne areng, liinide müügitulu kasv tuli peamiselt
suuremast pileti- ja pardamüügist. Eesti-Rootsi vaheliste laevaliinide
müügitulu kasvas 2,5% võrra ja segmendi kasum suurenes 10,9% või 0,7 miljoni
euro võrra. Läti-Rootsi laevaliini müügitulu kasvas 3,2% võrra ja segmendi
kasum suurenes 10,9% või 0,4 miljoni euro võrra.
Kolmandas kvartalis suurenes Kontserni piletimüügi tulu 5,4% või 4,3 miljoni
euro ning restoranide ja poodide müügitulu 4,0% või 5,7 miljoni euro võrra,
võrreldes eelmise aasta sama perioodiga. Müügitulu kasvu toetas peamiselt
suurem reisijate arv Kontserni opereeritavatel laevadel.
Laevade prahtimise tulu vähenes kolmandas kvartalis kokku 7,3 miljoni euro
võrra võrreldes eelmise aasta sama perioodiga, kuna välja oli prahitud vähem
laevu.
Kontserni 2016. majandusaasta kolmanda kvartali brutokasum vähenes võrreldes
eelmise aasta sama perioodiga 8,0 miljoni euro võrra ja oli 76,8 miljonit
eurot, kulumieelne ärikasum (EBITDA) vähenes 9,7 miljoni euro võrra ja oli 67,1
miljonit eurot. Kolmanda kvartali kasumlikkust mõjutasid madalam laevade
prahtimise müügitulu, suuremad turunduskulud, kiirlaeva Superstar prahtimise
kulu ja suuremad laevade opereerimise kulud.
Kontserni netovõlg vähenes kolmandas kvartalis 8,3 miljoni euro võrra ja oli
kokku 457,9 miljonit eurot, netovõla ja EBITDA suhe oli kolmanda kvartali lõpu
seisuga 3,1. Kolmanda kvartali intressikulud vähenesid laenude
graafikujärgsetest ja laevade müügiga seotud ennetähtaegsetest tagasimaksetest
eelmise aasta sama ajaga võrreldes 1,4 miljoni euro võrra. Kontserni kogu
finantskulu vähenes kolmandas kvartalis kokku 4,2 miljoni euro võrra peamiselt
valuuta- ja intressi tuletisinstrumentide ümberhindlustest.
Kontserni auditeerimata puhaskasum oli 2016. majandusaasta kolmandas kvartalis
42,8 miljonit eurot ehk 0,064 eurot aktsia kohta, eelmise aasta sama perioodi
puhaskasum oli 45,2 miljonit eurot ehk 0,067 eurot aktsia kohta.
Juunis 2016 otsustas aktsionäride korraline üldkoosolek maksta 2015.
majandusaasta kasumist dividendi 0,02 eurot aktsia kohta. Dividendid kokku
summas 13,4 miljonit eurot maksti välja 5. juulil 2016. Lisaks dividendide
jaotamisele, otsustas üldkoosolek vähendada aktsiaseltsi aktsiakapitali kokku
40,2 miljoni euro võrra ehk 0,06 eurot aktsia kohta. Lähtuvalt Äriseadustiku
nõuetest tehakse aktsiakapitali vähendamise väljamaksed aktsionäridele 23.
detsembril 2016.
Kontserni kogulikviidsus, raha ja kasutamata krediidilimiidid, oli kolmanda
kvartali lõpus 116,3 miljonit eurot, mis hõlmab 88,8 miljonit eurot raha ja
27,5 miljonit eurot kasutamata krediidilimiite, tagades tugeva
finantspositsiooni jätkusuutlikuks opereerimiseks.
PÕHINÄITAJAD 2016 2015 muutus
juuli-septemb juuli-septemb
er er
--------------------------------------------------------------------------------
EUR EUR
--------------------------------------------------------------------------------
Müügitulu (miljonites) 273,5 273,6 -0,0%
--------------------------------------------------------------------------------
Brutokasum (miljonites) 76,8 84,8 -9,4%
--------------------------------------------------------------------------------
Brutokasumi marginaal 28,1% 31,0%
--------------------------------------------------------------------------------
EBITDA (miljonites) 67,1 76,8 -12,6%
--------------------------------------------------------------------------------
EBITDA marginaal 24,6% 28,1%
--------------------------------------------------------------------------------
Aruande perioodi puhaskasum / -kahjum 42,8 45,2 -5,3%
(miljonites)
--------------------------------------------------------------------------------
Puhaskasumi marginaal 15,7% 16,5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon (miljonites) 19,3 18,4 4,5%
--------------------------------------------------------------------------------
Investeeringud (miljonites) 15,1 11,3 33,6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv1 669 882 040 669 882 040 0,0%
--------------------------------------------------------------------------------
Aktsiakasum 0,06 0,07 -5,3%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 2 855 112 2 701 412 5,7%
--------------------------------------------------------------------------------
Kaubaveo ühikute arv 81 170 76 062 6,7%
--------------------------------------------------------------------------------
Töötajate keskmine arv 7 366 7 040 4,6%
--------------------------------------------------------------------------------
------------------------------------------- -------
------------------------------
30.09.2016 30.06.2016
--------------------------------------------------------------------------------
Varad (miljonites) 1 552,0 1 567,4 -1,0%
--------------------------------------------------------------------------------
Intressi kandvad kohustused (miljonites) 546,7 558,5 -2,1%
--------------------------------------------------------------------------------
Netovõlg (miljonites) 457,9 466,2 -1,8%
--------------------------------------------------------------------------------
Omakapital kokku (miljonites) 811,2 807,7 0,4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Omakapitali määr 52,3% 51,5%
--------------------------------------------------------------------------------
Netovõla EBITDA suhe 3,1 2,9
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv1 669 882 040 669 882 040 0,0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta 1,21 1,21 0,4%
--------------------------------------------------------------------------------
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.
1 Aktsiate arv ei sisalda oma aktsiaid.
KONSOLIDEERITUDKOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.07.2016- 01.07.2015- 01.01.2016- 01.01.2015-
eurodes)
30.09.2016 30.09.2015 30.09.2016 30.09.2015
================================================================================
Müügitulu (Lisa 3) 273 615 273 557 711 670 717 572
Müüdud kaupade ja teenuste -196 839 -188 803 -560 154 -544 341
kulud
Brutokasum 76 776 84 754 151 516 173 231
--------------------------------------------------------------------------------
Müügi- ja turunduskulud -16 571 -15 085 -53 166 -46 801
Üldhalduskulud -12 548 -10 992 -38 825 -34 310
Muud äritulud 180 -125 1 753 1 360
Muud ärikulud 22 -156 -6 -737
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 47 859 58 396 61 272 92 743
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud (Lisa 4) 4 398 2 210 8 760 9 507
Finantskulud (Lisa 4) -9 999 -12 039 -29 685 -32 647
Kasum/-kahjum enne tulumaksu 42 258 48 567 40 347 69 603
--------------------------------------------------------------------------------
Tulumaks 580 -3 355 245 -9 205
Aruandeperioodi 42 838 45 212 40 592 60 398
puhaskasum/-kahjum
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Summad, mida saab edaspidi
ümber liigitada kasumisse
või kahjumisse
Valuutakursi vahed -99 -202 -264 -256
välisettevõtetest
Perioodi muu -99 -202 -264 -256
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum 42 739 45 010 40 328 60 142
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum aktsia kohta (eurodes
ühe aktsia kohta)
- tava (Lisa 5) 0,064 0,067 0,061 0,090
- lahustatud (Lisa 5) 0,064 0,067 0,061 0,090
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata tuhandetes eurodes)
VARAD 30.09.2016 31.12.2015
================================================================================
Käibevara
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid 88 772 81 976
Nõuded ostjate vastu ja muud nõuded 41 986 36 583
Ettemaksed 9 592 5 274
Tulumaksu ettemakse 1 482 1 224
Varud 37 624 29 197
Käibevara kokku 179 456 154 254
--------------------------------------------------------------------------------
Põhivara
--------------------------------------------------------------------------------
Investeeringud kapitaliosaluse meetodil kajastatud 350 350
investeeringuobjektidesse
Muud finantsvarad 361 308
Edasilükkunud tulumaksu vara 19 410 19 410
Kinnisvarainvesteeringud 300 300
Materiaalne põhivara (Lisa 7) 1 301 226 1 311 418
Immateriaalne vara (Lisa 8) 50 904 52 726
---------------------------------------------------------
Põhivara kokku 1 372 551 1 384 512
--------------------------------------------------------------------------------
---------------------------------------------------------
VARAD KOKKU 1 552 007 1 538 766
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
================================================================================
Lühiajalised kohustused
--------------------------------------------------------------------------------
Intressikandvad võlakohustused (Lisa 9) 125 995 81 889
Võlad tarnijatele ja muud võlad 83 257 88 480
Võlad aktsionäridele (Lisa 14) 40 193 0
Tulumaksukohustus 2 500 4 567
Ettemakstud tulud 33 986 28 906
Lühiajalised kohustused kokku 285 931 203 842
--------------------------------------------------------------------------------
Pikaajalised kohustused
-----------------------
--------------------------------------------------------------------------------
Intressikandvad võlakohustused (Lisa 9) 420 685 467 447
Tuletisinstrumendid (Lisa 6) 34 232 42 863
Muud kohustused 0 192
--------------------------------------------------------------------------------
Pikaajalised kohustused kokku 454 917 510 502
--------------------------------------------------------------------------------
Kohustused kokku 740 848 714 344
--------------------------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiakapital nimiväärtuses 361 736 404 290
Ülekurss 639 639
Reservid 71 026 65 083
Jaotamata kasum 377 758 354 410
--------------------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 811 159 824 422
--------------------------------------------------------------------------------
OMAKAPITAL KOKKU 811 159 824 422
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1 552 007 1 538 766
--------------------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata tuhandetes eurodes) 01.01.2016- 01.01.2015-
30.09.2016 30.09.2015
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 40 592 60 398
Korrigeerimised 79 014 91 250
Äritegevusega seotud nõuete ja ettemaksete muutused -9 914 -8 089
Varude muutused -8 427 2 639
Äritegevusega seotud kohustuste muutused -326 -7 103
Makstud tulumaks -1 621 -490
--------------------------------------------------------------------------------
99 318 138 605
--------------------------------------------------------------------------------
-------------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse vara ostmine -46 197 -29 823
(Lisad 7, 8, 9)
Laekumised materiaalse põhivara müügist 144 25 004
Saadud intressid 51 57
--------------------------------------------------------------------------------
-46 002 -4 762
--------------------------------------------------------------------------------
-------------------------------------------------------
Rahavood finantseerimistegevusest
Laenude tagasimaksed (Lisa 9) -55 039 -68 962
Arvelduskrediidi muutus (Lisa 9) 44 096 -8 700
Kapitalirendimaksete tasumine (Lisa 9) -74 -60
Makstud intressid -18 434 -21 485
Tuletisinstrumentidega seotud maksed -3 341 -3 195
Laenudega seotud tehingukulude tasumine 0 -1 429
Makstud dividendid (Lisa 12) -13 398 -13 398
Tulumaks makstud dividendidelt -330 -2 818
-46 520 -120 047
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU 6 796 13 796
--------------------------------------------------------------------------------
------------------------------------------------------- ------------
Raha ja raha ekvivalendid
- perioodi alguses 81 976 65 311
- suurenemine (+) / vähenemine (-) 6 796 13 796
--------------------------------------------------------------------------------
- perioodi lõpus 88 772 79 107
--------------------------------------------------------------------------------
Veiko Haavapuu
Finance Director
AS Tallink Grupp
Sadama 5/7
10111 Tallinn, Estonia
Tel. +372 640 9914
E-mail [email protected]
Content of announcement in English
Title
AS Tallink Grupp Unaudited Consolidated Interim Report Q3 2016
Message
Tallinn, 2016-11-10 08:50 CET (GLOBE NEWSWIRE) --
AS Tallink Grupp Unaudited Consolidated Interim Report Q3 2016
In the third quarter (1 July - 30 September) of the 2016 financial year AS
Tallink Grupp and its subsidiaries’ (the Group) carried 2.9 million passengers
which is 5.7% more compared to the third quarter last year. The number of cargo
units transported increased by 6.7% and the number of passenger vehicles
transported increased by 6.2% compared to same period last year.
The Group’s unaudited consolidated revenue for the third quarter was EUR 273.5
million, which is on the same level with the third quarter last year. The
Group’s unaudited EBITDA for the third quarter amounted to EUR 67.1 million
compared to EUR 76.8 million last year and unaudited net profit was EUR 42.8
million compared to EUR 45.2 million in same period last year.
In the third quarter, the revenue increased in all Group’s operated routes. The
revenue growth of core operations from onboard and ticket sale was supported by
the larger number of passengers travelling with the Group’s operated ships. The
revenue from chartering of ships is visibly lower as there were fewer ships
chartered out compared to third quarter last year. The Group’s operating result
is lower compared to same period last year mainly due to lower result from
chartering and cost of charter of the fast ferry Superstar.
The new LNG fast ferry Megastar was christened and launched in July 2016. The
construction is proceeding according to the schedule and the interior works of
the ship have started. The new LNG fast ferry Megastar will be delivered to the
Group in January 2017 and the vessel will start to operate the Shuttle service
on Tallinn-Helsinki route. At the same time, the Group has initiated number of
marketing activities to introduce the new vessel and its qualities to main
markets, more info on project http://megastar.tallink.com/.
In expectation of the new LNG fast ferry Megastar to the market next year, the
Group operated the cruise ferry Silja Europa on Tallinn-Helsinki route day
cruise service in 2016 third quarter July and August. This operational change
has enabled the Group to increase its market share on the route by 2% to 58%,
compared to same period last year. The Estonia-Finland route’s third quarter
revenue increased by 7.0%, the increase is driven mainly by growth in the
passenger number and cargo volume from the added capacity, compared to last
year. The Estonia-Finland segment result for the third quarter was lower
compared to the same period last year due to the cost of charter of the fast
ferry Superstar.
The Finland-Sweden routes third quarter revenue increased by 0.9%, compared to
same period last year. The revenue growth was supported by the higher passenger
number on the routes. The Group’s Finland-Sweden routes market share increased
in the third quarter by 2% to 54%. The number of cargo units transported on
Finland-Sweden routes increased by 5.2% compared to same period last year. The
segment result for the third quarter is slightly lower due to higher marketing
and operating costs.
Similarly to previous quarters of 2016, the Estonia-Sweden and Latvia-Sweden
routes positive development continues, the routes revenue growth was driven
mainly by higher ticket revenue and on-board sales. The Estonia-Sweden routes
revenue increased by 2.5% and segment result improved by 10.9% or EUR 0.7
million. The Latvia-Sweden route revenue increased by 3.2% and segment result
improved by 10.9% or EUR 0.4 million compared to third quarter last year.
In the third quarter the Group’s total ticket revenue increased by 5.4% or EUR
4.3 million and restaurants and shop sales increased by 4.0% or EUR 5.7
million, compared to the same period last year. The sales growth is supported
mainly by the higher number of passengers travelling with the Group’s operated
ships.
The revenue from chartering activities has reduced in total by EUR 7.3 million
in the third quarter due to fewer ships are chartered out, compared to the same
period last year.
In the third quarter of the 2016 financial year the Group’s gross profit
decreased by EUR 8.0 million and amounted to EUR 76.8 million, compared to the
same period last year, EBITDA decreased by EUR 9.7 million to the total of EUR
67.1 million. The third quarter profitability was impacted by less revenue from
chartering, higher marketing costs, cost of charter of the fast ferry Superstar
and higher ships operating costs.
In the third quarter the Group’s net debt decreased by EUR 8.3 million to a
total of EUR 457.9 million and the net debt to EBITDA ratio was a solid 3.1 at
the end of third quarter. The third quarter interest cost was EUR 1.4 million
lower compared to same period last year from regular repayment of loans and
also repayment of loans related to sale of ships. Combined with gain from
revaluation of cross currency and interest derivatives, the total finance costs
decreased by EUR 4.2 million compared to the third quarter last year.
The unaudited net profit for the third quarter of the 2016 financial year was
EUR 42.8 million or EUR 0.064 per share compared to the net profit of EUR 45.2
million or EUR 0.067 per share in the same period last year.
In June 2016 the shareholders annual general meeting decided to pay a dividend
of EUR 0.02 per share from financial year 2015 profits. The total dividend
amount of EUR 13.4 million was paid out on 05 July 2016 (third quarter). In
addition to dividend payment the annual general meeting decided the share
capital reduction in amount of EUR 40.2 million or EUR 0.06 per share.
According to the procedures set out in Commercial Code the share capital
reduction payments to the shareholders will be made on 23 December 2016.
The total liquidity, cash and unused credit facilities, at the end of the third
quarter was EUR 116.3 million providing a strong financial position for
sustainable operations. The Group had EUR 88.8 million in cash and equivalents
and the total of unused credit lines were at EUR 27.5 million.
Q3 KEY FIGURES
2016 2015 Change
July-Sep July-Sep
------------------------------------------------------
Revenue EUR million 273.5 273.6 -0.0%
--------------------------------------------------------------------------------
Gross profit EUR million 76.8 84.8 -9.4%
--------------------------------------------------------------------------------
Gross margin 28.1% 31.0%
--------------------------------------------------------------------------------
EBITDA EUR million 67.1 76.8 -12.6%
--------------------------------------------------------------------------------
EBITDA margin 24.6% 28.1%
--------------------------------------------------------------------------------
Net profit for the EUR million 42.8 45.2 -5.3%
period
--------------------------------------------------------------------------------
Net profit margin 15.7% 16.5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation and EUR million 19.3 18.4 4.5%
amortization
--------------------------------------------------------------------------------
Investments EUR million 15.1 11.3 33.6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of ordinary shares 669,882,040 669,882,040 0.0%
outstanding 1
--------------------------------------------------------------------------------
Earnings per share EUR 0.06 0.07 -5.3%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2,855,112 2,701,412 5.7%
--------------------------------------------------------------------------------
Number of cargo 81,170 76,062 6.7%
units
--------------------------------------------------------------------------------
Average number of 7,366 7,040 4.6%
employees
--------------------------------------------------------------------------------
----------------------------------------------- -------
--------------------------
30.09.2016 30.06.2016
--------------------------------------------------------------------------------
Total assets EUR million 1,552.0 1,567.4 -1.0%
--------------------------------------------------------------------------------
Interest-bearing EUR million 546.7 558.5 -2.1%
liabilities
--------------------------------------------------------------------------------
Net debt EUR million 457.9 466.2 -1.8%
--------------------------------------------------------------------------------
Total equity EUR million 811.2 807.7 0.4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Equity ratio 52.3% 51.5%
--------------------------------------------------------------------------------
Net debt to EBITDA 3.1 2.9
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of ordinary shares outstanding 1 669,882,040 669,882,040 0.0%
--------------------------------------------------------------------------------
Shareholders’ equity EUR 1.21 1.21 0.4%
per 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 01.07.2016- 01.07.2015- 01.01.2016- 01.01.2015-
euros)
30.09.2016 30.09.2015 30.09.2016 30.09.2015
================================================================================
Revenue (Note 3) 273,615 273,557 711,670 717,572
Cost of sales -196,839 -188,803 -560,154 -544,341
Gross profit 76,776 84,754 151,516 173,231
--------------------------------------------------------------------------------
Sales and marketing expenses -16,571 -15,085 -53,166 -46,801
Administrative expenses -12,548 -10,992 -38,825 -34,310
Other operating income 180 -125 1,753 1,360
Other operating expenses 22 -156 -6 -737
--------------------------------------------------------------------------------
Result from operating 47,859 58,396 61,272 92,743
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income (Note 4) 4,398 2,210 8,760 9,507
Finance costs (Note 4) -9,999 -12,039 -29,685 -32,647
Profit/-loss before income 42,258 48,567 40,347 69,603
tax
--------------------------------------------------------------------------------
Income tax 580 -3,355 245 -9,205
--------------------------------------------------------------------------------
Net profit/-loss for the 42,838 45,212 40,592 60,398
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Items that may be
reclassified to profit or
loss
Exchange differences on -99 -202 -264 -256
translating foreign
operations
Other comprehensive -99 -202 -264 -256
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive 42,739 45,010 40,328 60,142
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Earnings per share (in EUR
per share)
- basic (Note 5) 0.064 0.067 0.061 0.090
- diluted (Note 5) 0.064 0.067 0.061 0.090
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of euros)
ASSETS 30.09.2016 31.12.2015
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 88,772 81,976
Trade and other receivables 41,986 36,583
Prepayments 9,592 5,274
Income tax prepayment 1,482 1,224
Inventories 37,624 29,197
Total current assets 179,456 154,254
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in equity-accounted investees 350 350
Other financial assets 361 308
Deferred income tax assets 19,410 19,410
Investment property 300 300
Property, plant and equipment (Note 7) 1,301,226 1,311,418
Intangible assets (Note 8) 50,904 52,726
---------------------------------------------------------
Total non-current assets 1,372,551 1,384,512
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,552,007 1,538,766
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings (Note 9) 125,995 81,889
Trade and other payables 83,257 88,480
Payments to shareholders (Note 14) 40,193 0
Income tax liability 2,500 4,567
Deferred income 33,986 28,906
Total current liabilities 285,931 203,842
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
--------------------------------------------------------------------------------
Interest bearing loans and borrowings (Note 9) 420,685 467,447
Derivatives (Note 6) 34,232 42,863
Other payables 0 192
--------------------------------------------------------------------------------
Total non-current liabilities 454,917 510,502
--------------------------------------------------------------------------------
TOTAL LIABILITIES 740,848 714,344
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 361,736 404,290
Share premium 639 639
Reserves 71,026 65,083
Retained earnings 377,758 354,410
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 811,159 824,422
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 811,159 824,422
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,552,007 1,538,766
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of euros) 01.01.2016- 01.01.2015-
30.09.2016 30.09.2015
Cash flows from operating activities
Net profit/-loss for the period 40,592 60,398
Adjustments 79,014 91,250
Changes in receivables and prepayments related to -9,914 -8,089
operating activities
Changes in inventories -8,427 2,639
Changes in liabilities related to operating activities -326 -7,103
Income tax paid -1,621 -490
--------------------------------------------------------------------------------
99,318 138,605
--------------------------------------------------------------------------------
-------------------------------------------------------
Cash flow from/used in investing activities
Purchase of property, plant and equipment and -46,197 -29,823
intangible assets (Notes 7, 8, 9)
Proceeds from disposals of property, plant and 144 25,004
equipment
Interest received 51 57
--------------------------------------------------------------------------------
-46,002 -4,762
--------------------------------------------------------------------------------
-------------------------------------------------------
Cash flows used in financing activities
Repayment of loans (Note 9) -55,039 -68,962
Change in overdraft (Note 9) 44,096 -8,700
Payment of finance lease liabilities (Note 9) -74 -60
Interest paid -18,434 -21,485
Payments for settlement of derivatives -3,341 -3,195
Payments of transaction costs related to loans 0 -1,429
Dividend paid (Note 12) -13,398 -13,398
Income tax on dividends paid -330 -2,818
-46,520 -120,047
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW 6,796 13,796
--------------------------------------------------------------------------------
------------------------------------------------------- ------------
Cash and cash equivalents:
- at the beginning of period 81,976 65,311
- increase (+) / decrease (-) 6,796 13,796
--------------------------------------------------------------------------------
- at the end of period 88,772 79,107
--------------------------------------------------------------------------------
Veiko Haavapuu
Finance Director
AS Tallink Grupp
Sadama 5/7
10111 Tallinn, Estonia
Tel. +372 640 9914
E-mail [email protected]