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AKTSIASELTS INFORTAR
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Majandusaasta aruanne
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28.04.2025 15:00:29
Pealkiri
Aktsiaselts Infortar auditeeritud majandusaasta aruanne 2024
Teade
Aktsiaselts Infortar (edaspidi Infortar) nõukogu kiitis heaks 2024. aasta auditeeritud aastaaruande ja esitab selle kinnitamiseks aktsionäride üldkoosolekule. Olulisemad sündmused 2024 Laevandus Kevad-suvel investeeris Infortar Tallink Grupi (Tallink) aktsiate ostmiseks 110 miljonit eurot ja suurendas oma osalust Tallinkis 68,5 protsendini. Tallinki reisijate koguarv 2024. aastal oli 5,6 miljonit. Majandusaasta lõpu seisuga opereeris Tallink 14 laeva, välja prahitud oli möödunud aasta jooksul kolm laeva. Veetud kaubaveoühikute arv oli pisut üle 303 000, reisijate sõidukeid veeti kokku üle 777 000. Energeetika Infortari tütarettevõte Elenger Grupp (Elenger) sõlmis 2024. aasta sügisel Saksa energiakontserniga EWE AG 120 miljoni euro suuruse lepingu EWE grupi kogu Poola äritegevuse omandamiseks, tehing hõlmas nii maagaasi, jaotusvõrku Lääne-Poolas kui energiamüügi kõiki ärisuundi. 2024. aastal müüs Elenger kokku 18,4 TWh energiat (2023. aastal 15,9 TWh). 2024. aasta energiamüügist moodustas müük Eestis 16%. Ettevõtte gaasimüügi turuosa aasta kokku Soome-Balti turul oli 24,3%. Kinnisvara Infortari kinnisvaraportfell on aastaga kasvanud 100 tuhandelt 141 tuhande ruutmeetrini. Eelmise aasta lõpus sai kasutusloa Saue vallas asuv Rimi logistikakeskus. Käesoleva aasta suvel valmib Pärnu uus sild ja järgmisel aastal Lasnamäe DEPO teine kauplus Eestis ning 2028. aasta alguses Rail Baltica põhitrassil Kangru-Saku lõik. Tähtsamad finantsnäitajad ja suhtarvud +----------------------------------------------------+------------+------------+ |Finantsnäitaja/suhtarv |12 kuud 2024|12 kuud 2023| +----------------------------------------------------+------------+------------+ |Müügitulu (miljonites eurodes) |1 371,775 |1 084,626 | +----------------------------------------------------+------------+------------+ |Brutokasum (miljonites eurodes) |128,628 |149,473 | +----------------------------------------------------+------------+------------+ |EBITDA (miljonites eurodes) |145,275 |143,283 | +----------------------------------------------------+------------+------------+ |EBITDA marginaal (%) |10,6% |13,2% | +----------------------------------------------------+------------+------------+ |Ärikasum/ kahjum (EBIT) (miljonites eurodes) |77,024 |123,628 | +----------------------------------------------------+------------+------------+ |Aruandeaasta kasum/ kahjum (miljonites eurodes)( |193,670 |293,830 | |1)(,2) | | | +----------------------------------------------------+------------+------------+ |Kasum aktsia kohta (eurodes)(2) |9.36 |14.62 | +----------------------------------------------------+------------+------------+ |Omakapital (miljonites eurodes) |1 166,221 |820,210 | +----------------------------------------------------+------------+------------+ |Kohustised (miljonites eurodes)(3) |1 223,287 |441,160 | +----------------------------------------------------+------------+------------+ |Netovõlg(4) |1 055,708 |354,045 | +----------------------------------------------------+------------+------------+ |Investeerimislaenude ja EBITDA suhe(5) |3.0x |1.7x | +----------------------------------------------------+------------+------------+ (1)2024 aasta aruandeaasta kasum sisaldab 94 miljoni euro ulatuses, peamiselt Tallinki omandamisest tekkinud ühekordset kasumit. 2023 aasta aruandeaasta kasum sisaldab 159 miljoni euro ulatuses, peamiselt Gaso ostust tekkinud ühekordset kasumit. (2)25. veebruaril 2025 raporteeritud 2024. aasta IV kvartali ja 12 kuu tulemustes oli konsolideeritud aruandeaasta kasum 173,351 miljonit eurot ja kasum aktsia kohta 8,46 eurot. Auditeeritud numbrites on tehtud parandusi, peamiselt seoses Tallink Grupp ostuanalüüsiga, mille tulemusena suurenes aruandeaasta kasum 20,319 miljoni euro ja kasum aktsia kohta 0,9 euro võrra. (3)(,4) Kohustiste ja netovõla märkimisväärne tõus tuleneb Tallinki laenude konsolideerimisest Infortari aruandesse 2024. aastal. (5) Infortar grupp investeerimislaenud kokku/ EBITDA. 2024 aastal on kasutatud võrreldavuse huvides Tallinki EBITDA-d 12 kuud (EBITDA 265,447 miljonit eurot). Müügitulu 2024. majandusaastal suurenes kontserni konsolideeritud müügitulu 287,149 miljoni euro võrra 1 371,775 miljoni euroni (2023 konsolideeritud müügitulu 1 084,626 miljonit eurot). Olulist mõju avaldas Tallink Grupp tulemuste konsolideerimine Infortari konsolideeritud finantsaruannetesse alates 1. august 2024. EBITDA ja segmendiaruandlus Meretranspordi segmendi EBITDA oli 2024. majandusaastal 175,181 miljonit eurot (2023. majandusaastal 214,528 miljonit eurot). Segmendiaruandluses on vastavalt kehtivatele raamatupidamisreeglitele kajastatud 100% Tallinki tulemused. Tallinki 2024 tulemusi mõjutasid peamiselt keeruline majandusolukord koduturgudel ja tarbimiskindluse madalaim tase viimase kümnendi jooksul. Energeetikasegmendi EBITDA oli 2024. majandusaastal 77,235 miljonit eurot (2023. majandusaastal 135,999 miljonit eurot). Keskmisest soojem talv põhjustas müügimahtude languse, mis omakorda mõjutas kasumlikkust IV kvartalis. Kinnisvarasegmendis võetakse kasumlikkuse hindamisel arvesse eraldiseisvate kinnisvara ettevõtete EBITDA. Kinnisvara EBITDA oli 2024. majandusaastal kokku 13,567 miljonit eurot (2023. majandusaastal 12,399 miljonit eurot). Täiendavalt lisandusid 2023. majandusaastal arvestusse kolm uut hoonet aadressidel Liivalaia 9, Tähesaju 9 ja Tähesaju 11. Puhaskasum Konsolideeritud puhaskasum oli 2024. majandusaastal 193,67 miljonit eurot (2023. majandusaastal 293,83 miljonit eurot). Ühekordse olulise mõjuga tehingutest olid 2023. majandusaasta puhaskasumi arvestuses Läti gaasi jaotusvõrgu ettevõte Gaso omandamisega seotud mõjud ja 2024. majandusaasta puhaskasumi arvestuses Tallinki omandamisega seotud mõjud. Konsolideeritud ärikasum oli 2024. majandusaastal 77,024 miljonit eurot (2023. majandusaastal 123,628 miljonit eurot). Investeeringud Kevadel sisenes Infortar põllumajanduse valdkonda, soetas Eesti ühe suurima piimafarmi Halingal ning ehitab farmi kõrvale rohegaasijaama kohaliku gaasi tootmiseks. Kevadsuvel investeeris kontsern Tallinki aktsiate ostmiseks 110 miljonit eurot ja suurendas oma osalust Tallinkis 68,5 protsendini. Sügisel sõlmis tütarettevõte Elenger Saksa energiakontserniga EWE AG 120 miljoni euro suuruse lepingu EWE grupi kogu Poola äritegevuse omandamiseks, tehing hõlmab nii maagaasi jaotusvõrku Lääne-Poolas kui energiamüügi kõiki ärisuundi. Finantseerimine Laenu ja liisingkohustised olid 2024. majandusaastal kokku 1 223,287 miljonit eurot (2023. majandusaastal 441,160 miljonit eurot). Oluline suurenemine 2024. majandusaastal tuleneb peamiselt Tallink Grupp rida realt konsolideerimisest, millega võeti kohustiste hulka täies mahus Tallinki kohustised. Proportsionaalselt varade kasvu mahuga suurenes Infortari netovõlg 701,663 miljoni euro võrra 1 055,708 miljoni euroni (354,045 miljonit eurot seisuga 31.12.2024). Netovõla ja EBITDA suhe oli 3,4. Dividendid Dividendipoliitika kohaselt on eesmärgiks maksta dividendideks vähemalt 1 euro aktsia kohta majandusaastas. Dividendide väljamakseid tehakse kahes osas. Infortar kontserni juhatus kavatseb kooskõlastatult nõukoguga teha ettepaneku tasuda 2024. aasta majandustulemuste eest dividendi 3 eurot aktsia kohta. Konsolideeritud kasumiaruanne (tuhandetes eurodes) 12 kuud 2024 12 kuud 2023 ------------------------------------------------------------------------------- Müügitulu 1 371 775 1 084 626 ------------------------------------------------------------------------------- Müügikulu -1 243 034 -934 811 ------------------------------------------------------------------------------- Nõuete allahindlused -113 -342 ------------------------------------------------------------------------------- Brutokasum 128 628 149 473 ------------------------------------------------------------------------------- Turustuskulud -21 086 -1 620 ------------------------------------------------------------------------------- Üldhalduskulud -50 438 -22 085 ------------------------------------------------------------------------------- Kasum/kahjum bioloogilistelt varadelt -139 0 ------------------------------------------------------------------------------- Kahjum (kahjum) kinnisvarainvesteeringute õiglase väärtuse muutusest -949 -4 074 ------------------------------------------------------------------------------- Kasum (kahjum) põhivara õiglase väärtuse muutusest -8 691 0 ------------------------------------------------------------------------------- Kasum/kahjum tuletisinstrumentidest 26 672 1 969 ------------------------------------------------------------------------------- Muud äritulud 4 682 2 523 ------------------------------------------------------------------------------- Muud ärikulud -1 655 -2 558 ------------------------------------------------------------------------------- Ärikasum 77 024 123 628 ------------------------------------------------------------------------------- Kasum kapitaliosaluse meetodil arvestatud investeeringutelt 22 974 39 639 ------------------------------------------------------------------------------- Finantsinvesteeringute tulu 13 392 0 ------------------------------------------------------------------------------- Finantsinvesteeringute kulu -50 -4 ------------------------------------------------------------------------------- Intressikulu -38 274 -22 573 ------------------------------------------------------------------------------- Intressitulu 4 979 2 765 ------------------------------------------------------------------------------- Kasum/kahjum valuutakursi muutustest 100 -173 ------------------------------------------------------------------------------- Soodusostust saadud tulud 93 659 159 158 ------------------------------------------------------------------------------- Finantstulud ja -kulud kokku 73 806 139 173 ------------------------------------------------------------------------------- Kasum enne maksustamist 173 804 302 440 ------------------------------------------------------------------------------- Ettevõtte tulumaks 19 866 -8 610 ------------------------------------------------------------------------------- Aruandeaasta kasum/kahjum 193 670 293 830 ------------------------------------------------------------------------------- sealhulgas: ------------------------------------------------------------------------------- Emaettevõtte omanikele kuuluv kasum/kahjum 191 253 293 778 ------------------------------------------------------------------------------- Vähemusosalusele kuuluv kasum/kahjum 2 417 52 ------------------------------------------------------------------------------- Muu koondkasum ------------------------------------------------------------------------------- Kirjed, mida ei klassifitseerita kasumiaruandesse: ------------------------------------------------------------------------------- Töösuhtejärgsete hüvitiste kohustuste ümberhindlus -141 -44 ------------------------------------------------------------------------------- Kirjed, mida võib edaspidi ümber klassifitseerida kasumiaruandesse: ------------------------------------------------------------------------------- Riskimaandamisinstrumentide ümberhindlus -45 792 -58 189 ------------------------------------------------------------------------------- Välismaiste tütarettevõtjate ümberarvestusel tekkinud valuutakursivahed 53 -42 ------------------------------------------------------------------------------- Muu koondkasum kokku -45 880 -58 275 ------------------------------------------------------------------------------- Aruandeaasta koondkasum/-kahjum kokku 147 790 235 555 ------------------------------------------------------------------------------- sealhulgas: ------------------------------------------------------------------------------- Emaettevõtte omanikele kuuluv kasum/kahjum 145 514 235 503 ------------------------------------------------------------------------------- Vähemusosalusele kuuluv kasum/kahjum 2 417 52 ------------------------------------------------------------------------------- Tavakasum aktsia kohta 9,36 14,62 ------------------------------------------------------------------------------- Lahustatud kasum aktsia kohta 9,12 14,15 Konsolideeritud finantsseisundi aruanne (tuhandetes eurodes) 31.12.24 31.12.23 ----------------------------------------------------------------------- KÄIBEVARA ----------------------------------------------------------------------- Raha 167 579 87 115 ----------------------------------------------------------------------- Lühiajalised tuletisinstrumendid 8 333 28 728 ----------------------------------------------------------------------- Realiseerunud tuletisinstrumentide nõuded 676 5 958 ----------------------------------------------------------------------- Nõuded ostjatele 155 351 162 575 ----------------------------------------------------------------------- Maksude ettemaksed 3 831 925 ----------------------------------------------------------------------- Muud nõuded ja ettemaksud 38 517 20 185 ----------------------------------------------------------------------- Ettemaksed varude eest 2 498 3 493 ----------------------------------------------------------------------- Varud 215 914 146 884 ----------------------------------------------------------------------- Bioloogilised varad 941 0 ----------------------------------------------------------------------- Käibevara kokku 593 640 455 863 PÕHIVARA ----------------------------------------------------------------------- Investeeringud sidusettevõtetesse 16 603 346 014 ----------------------------------------------------------------------- Pikajalised tuletisinstrumendid 3 214 1 125 ----------------------------------------------------------------------- Pikajalised laenud ja muud nõuded 35 163 9 072 ----------------------------------------------------------------------- Kinnisvarainvesteeringud 67 931 176 024 ----------------------------------------------------------------------- Materiaalne põhivara 1 909 458 446 748 ----------------------------------------------------------------------- Immateriaalne põhivara 38 874 14 366 ----------------------------------------------------------------------- Kasutusõigusega vara 47 598 11 300 ----------------------------------------------------------------------- Bioloogiline vara 2 753 0 ----------------------------------------------------------------------- Põhivara kokku 2 121 594 1 004 649 ----------------------------------------------------------------------- VARAD KOKKU 2 715 234 1 460 512 KOHUSTISED JA OMAKAPITAL (tuhandetes eurodes) 31.12.24 31.12.23 ----------------------------------------------------------------------- LÜHIAJALISED KOHUSTISED ----------------------------------------------------------------------- Laenukohustised 497 162 184 259 ----------------------------------------------------------------------- Rendikohustised 9 020 1 766 ----------------------------------------------------------------------- Võlad tarnijatele 87 941 74 751 ----------------------------------------------------------------------- Maksukohustused 49 354 32 822 ----------------------------------------------------------------------- Ostjate ettemaksed 31 126 3 099 ----------------------------------------------------------------------- Realiseerunud tuletisinstrumendid 8 728 1 463 ----------------------------------------------------------------------- Muud lühiajalised kohustised 63 431 10 851 ----------------------------------------------------------------------- Lühiajalised tuletisinstrumendid 27 704 3 659 ----------------------------------------------------------------------- Lühiajalised kohustised kokku 774 466 312 670 PIKAAJALISED KOHUSTISED ----------------------------------------------------------------------- Pikaajalised eraldised 9 946 8 399 ----------------------------------------------------------------------- Edasilükkunud tulumaksukohustis 2 816 33 233 ----------------------------------------------------------------------- Muud pikaajalised kohustised 43 209 30 679 ----------------------------------------------------------------------- Pikaajalised tuletisinstrumendid 1 471 186 ----------------------------------------------------------------------- Laenukohustised 676 670 246 410 ----------------------------------------------------------------------- Rendikohustised 40 435 8 725 ----------------------------------------------------------------------- Pikaajalised kohustised kokku 774 547 327 632 ----------------------------------------------------------------------- KOHUSTISED KOKKU 1 549 013 640 302 OMAKAPITAL ----------------------------------------------------------------------- Aktsiakapital 2 117 2 105 ----------------------------------------------------------------------- Omaaktsiad -72 -95 ----------------------------------------------------------------------- Ülekurss 32 484 29 344 ----------------------------------------------------------------------- Reservkapital 212 205 ----------------------------------------------------------------------- Optsioonireserv 6 223 3 864 ----------------------------------------------------------------------- Riskimaandamise reserv -21 674 24 118 ----------------------------------------------------------------------- Realiseerimata kursivahed 45 -39 ----------------------------------------------------------------------- Töösuhtejärgsete hüvitiste kohustuste reserv -185 -44 ----------------------------------------------------------------------- Jaotamata kasum 890 167 759 918 ----------------------------------------------------------------------- Emaettevõtte omanikele kuuluv omakapital 909 317 819 376 ----------------------------------------------------------------------- Vähemusosalus 256 904 834 ----------------------------------------------------------------------- Omakapital kokku 1 166 221 820 210 KOHUSTISED JA OMAKAPITAL KOKKU 2 715 234 1 460 512 Konsolideeritud rahavoogude aruanne (tuhandetes eurodes) 12 kuud 2024 12 kuud 2023 ------------------------------------------------------------------------------- Aruandeaasta kasum 193 670 293 830 ------------------------------------------------------------------------------- Korrigeerimised: ------------------------------------------------------------------------------- Põhivara ja kinnisvara investeeringute kulum ning väärtuse muutus 68 251 19 655 ------------------------------------------------------------------------------- Kapitaliosaluse ümberhindlus -22 974 -39 639 ------------------------------------------------------------------------------- Tuletisinstrumentide väärtuse muutus -1 483 54 122 ------------------------------------------------------------------------------- Muud finantstulud/-kulud -112 030 -161 965 ------------------------------------------------------------------------------- Arvestatud intressikulud 38 274 22 573 ------------------------------------------------------------------------------- Kasum/kahjum põhivara müügist -955 -91 ------------------------------------------------------------------------------- Tuludes kajastatud sihtfinantseerimise tulu -643 784 ------------------------------------------------------------------------------- Arvestatud tulumaksukulu -19 866 8 610 ------------------------------------------------------------------------------- Makstud tulumaks -10 551 -267 ------------------------------------------------------------------------------- Äritegevusega seotud nõuete ja ettemaksete muutus 52 023 54 540 ------------------------------------------------------------------------------- Varude muutused -12 831 -61 914 ------------------------------------------------------------------------------- Äritegevusega seotud kohustiste ja ettemaksete muutus -81 275 -406 ------------------------------------------------------------------------------- Bioloogiliste varade muutus -322 0 ------------------------------------------------------------------------------- Kokku rahavood äritegevusest 89 288 189 832 Rahavood investeerimistegevusest ------------------------------------------------------------------------------- Tasutud sidusettevõtete ostul 0 -10 314 ------------------------------------------------------------------------------- Tasutud tütarettevõtete ostul -111 684 -103 414 ------------------------------------------------------------------------------- Laekunud dividendid 20 862 0 ------------------------------------------------------------------------------- Antud laenude tagasimaksed 1 918 6 652 ------------------------------------------------------------------------------- Laekunud intressid 4 953 2 691 ------------------------------------------------------------------------------- Tasutud kinnisvarainvesteeringute soetamisel -10 352 -18 304 ------------------------------------------------------------------------------- Tasutud materiaalse ja immateriaalse põhivara soetamisel -27 835 -18 143 ------------------------------------------------------------------------------- Laekunud kinnisvarainvesteeringute ja põhivara müügist 1 561 -252 ------------------------------------------------------------------------------- Kokku rahavood investeerimistegevusest -120 577 -141 084 Rahavood finantseerimistegevusest 12 kuud 2024 12 kuud 2023 ------------------------------------------------------------------------------- Laekumised sihtfinantseerimisest 225 0 ------------------------------------------------------------------------------- Arvelduskrediidi muutus 12 863 14 348 ------------------------------------------------------------------------------- Saadud laene 358 731 287 606 ------------------------------------------------------------------------------- Saadud laenude tagasimaksed -151 790 -312 846 ------------------------------------------------------------------------------- Rendikohustiste põhiosa tagasimaksed -11 300 -2 233 ------------------------------------------------------------------------------- Makstud intressid -39 153 -22 224 ------------------------------------------------------------------------------- Makstud dividendid -60 997 -15 750 ------------------------------------------------------------------------------- Laekunud aktsiate emiteerimisest 3 174 29 464 ------------------------------------------------------------------------------- Kokku rahavood finantseerimistegevusest 111 753 -21 635 Rahavood kokku 80 464 27 113 ------------------------------------------------------------------------------- Raha ja raha ekvivalendid perioodi alguses 87 115 60 002 ------------------------------------------------------------------------------- Raha ja raha ekvivalendid perioodi lõpus 167 579 87 115 ------------------------------------------------------------------------------- Raha ja raha ekvivalentide muutus 80 464 27 113 Aktsiaselts Infortar aastaaruanne 2024 on lisatud teatele ja tehakse kättesaadavaks veebilehel www.infortar.ee/aruandlus (http://www.infortar.ee/aruandlus). Infortar tegutseb seitsmes riigis, ettevõtte peamised tegevusvaldkonnad on meretransport, energeetika ja kinnisvara. Infortar omab 68,5 protsendi suurust osalust AS-is Tallink Grupp, 100% osalust AS-is Elenger Grupp ning mitmekülgset ja kaasaegset, ca 141 000 m2 suurust kinnisvaraportfelli. Lisaks kolmele põhitegevusvaldkonnale tegutseb Infortar ehituse ja maavarade, põllumajanduse, trükkimise ja muudes valdkondades. Kokku kuulub Infortari kontserni 110 ettevõtet: 101 kontserni ettevõtet, 4 sidusettevõtet ja 5 sidusettevõtete tütarettevõtet. Arvestamata sidusettevõtteid annab Infortar tööd 6228 inimesele. Lisainfo: Kadri Laanvee AS Infortar investorsuhete juht Tel. 5156662 E-mail: [email protected] www.infortar.ee/investorile (https://www.globenewswire.com/Tracker?data=cxw--oN5VVDAwUay5jce0LVGSpQtlbs2L21O 6Naxcz-Y83bVfU8eBbNzIeLhzxwIBp9-bOKyGMcSZQ4VGbBTAQhWHRHZ9uH_I4ir0vi63KY9kYA9gZcH ohuWY_FwRRlO)
Pealkiri
Aktsiaselts Infortar 2024 audited Annual Report
Teade
The Supervisory Board of Aktsiaselts Infortar approved the audited annual report
for 2024 and will submit it to the Annual General Meeting for approval.
Major events
Maritime transport
In the summer, Infortar invested EUR110 million in acquiring Tallink Grupp
(Tallink) shares, increasing its shareholding in Tallink to 68.5%.
The total number of passengers in 2024 reached 5.6 million. As of the end of the
financial year, Tallink operated 14 vessels. Three vessels were chartered out
during the year. The number of transported cargo units exceeded 303,000, and
passenger vehicles transported totalled 777,000.
Energy
Infortar's subsidiary, Elenger Grupp (Elenger), signed a EUR120 million agreement
with the German energy conglomerate EWE AG to acquire EWE Group's business
operations in Poland. The transaction included natural gas assets, a
distribution network in Western Poland, and all energy sales segments.
In 2024, Elenger sold a total of 18.4 TWh of energy (15.9 TWh in 2023). Sales in
Estonia accounted for 16% of the total energy sales in 2024. The company's
market share in gas sales across the Finland-Baltic gas market for the year was
24.3%.
Real estate
Infortar's real estate portfolio has expanded from 100,000 to 141,000 square
meters over the past year. At the end of last year, the Rimi logistics centre in
Saue received its occupancy permit. This summer, a new bridge in Pärnu will be
completed, followed by the opening of Lasnamäe's second DEPO store in Estonia
next year. In early 2028, the Kangru-Saku section of the Rail Baltica main route
will also be completed.
Key figures of financial year
+---------------------------------------+----------------+----------------+
| Key figures | 12 months 2024 | 12 months 2023 |
+---------------------------------------+----------------+----------------+
| Sales revenue. mEUR | 1 371.775 | 1 084.626 |
+---------------------------------------+----------------+----------------+
| Gross profit. mEUR | 128.628 | 149.473 |
+---------------------------------------+----------------+----------------+
| EBITDA. mEUR | 145.275 | 143.283 |
+---------------------------------------+----------------+----------------+
| EBITDA margin (%) | 10.6% | 13.2% |
+---------------------------------------+----------------+----------------+
| Operating profit. EBIT. mEUR | 77.024 | 123.628 |
+---------------------------------------+----------------+----------------+
| Total profit(-loss). mEUR(1,2) | 193.670 | 293.830 |
+---------------------------------------+----------------+----------------+
| EPS (euros)(2) | 9.36 | 14.62 |
+---------------------------------------+----------------+----------------+
| Total equity mEUR | 1 166.221 | 820.210 |
+---------------------------------------+----------------+----------------+
| Total liabilities mEUR(3) | 1 223.287 | 441.160 |
+---------------------------------------+----------------+----------------+
| Net debt mEUR(4) | 1 055.708 | 354.045 |
+---------------------------------------+----------------+----------------+
| Investment loans to EBITDA (ratio)(5) | 3.0x | 1.7x |
+---------------------------------------+----------------+----------------+
(1.)The 2024 financial year total profit includes a one-off revaluation of EUR94
million, mainly arising from the acquisition of Tallink. The 2023 financial year
profit includes a one-off revaluation of EUR159 million, mainly arising from the
acquisition of Gaso.
(2.) In the Q4 and 12-month annual results reported on 25 February 2025, the
consolidated total profit for the financial year was EUR173.351 million, and
earnings per share (EPS) amounted to EUR8.46. Adjustments have been made in the
audited figures, mainly related to the purchase price allocation of Tallink
Grupp, resulting in an increase of EUR20.319 million in the total profit for the
annual year and an increase of earnings per share (EPS) by 0.9 euros.
(3-4.) The significant increase in liabilities and net debt is due to the
consolidation of Tallink's loans into Infortar's financial statements in 2024.
(5. )Infortar Group's investment loans / EBITDA ratio. For 2024 Tallink's 12-
month EBITDA (EUR265.447 million) has been used for comparability purposes
Revenue
2024. financial year, the group´s consolidated sales revenue increased by
EUR287.149 million reaching EUR1 371.775 million (compared to EUR1 084.626 million in
2023). A significant impact was made by the consolidation of Tallink Grupp's
results into Infortar's consolidated financial statements starting from August
1, 2024.
EBITDA and Segment Reporting
Maritime transport Segment: The EBITDA for the maritime transport segment in
2024 financial year was EUR175.181 million (compared to EUR214.528 million in the
2023 financial year). In segment reporting 100% Tallink results are presented.
Tallink´s financial results were affected by difficult economic environment
across all our home markets, and the lowest consumer confidence levels in a
decade.
Energy Segment: The EBITDA for the energy segment of the 2024 financial year was
EUR77.235 million (compared to EUR135.999 million in 2023). Warmer winter led to a
decrease in sales volumes, which in turn impacted profitability in the fourth
quarter.
Real Estate Segment: The profitability assessment considers the EBITDA of
individual real estate companies. The EBITDA for the real estate segment of the
2024 financial year was EUR13.567 million (compared to EUR12.39 million in 2023).
Three new buildings at Liivalaia 9, Tähesaju 9, and Tähesaju 11 were included in
the accounting for the 2023 financial year.
Total Profit
The consolidated total profit for the 2024 financial year was EUR193.67 million
(compared to EUR293.83 million in the 2023 financial year). One-off significant
impacts included the effects related to the acquisition of Tallink in 2024 and
Latvian gas distribution company Gaso in 2023. The consolidated operating profit
for the 2024 financial year was EUR77.024 million (compared to EUR123.628 million in
2023).
Investments
Infortar entered the agricultural sector by acquiring one of Estonia's largest
dairy farms in Halinga and began constructing a biomethane plant next to the
farm for local biomethane production. Infortar invested EUR110 million in
purchasing Tallink shares, increasing its shareholding in Tallink to 68,5%.
Infortar subsidiary Elenger signed a EUR120 million agreement with the German
energy group EWE AG to acquire EWE Group's entire Polish business. The
transaction includes the natural gas distribution network in Western Poland as
well as all energy sales operations.
Financing
Loan and lease liabilities amounted to EUR1 223.287 million in 2024 financial year
(compared to EUR441.16 million in 2023 financial year). Significant increase in
the 2024 financial year is primarily due to the line-by-line consolidation of
Tallink Grupp, which resulted in the full inclusion of Tallink's liabilities
among the group's obligations.
Proportionally to the growth in assets, Infortar's net debt increased by
EUR701.663 million, reaching EUR1 055.708 million (compared to EUR354,045 million in
2023 financial year). The net debt to EBITDA ratio was 3.4.
Dividends
According to the dividend policy, the objective is to pay dividends of at least
1 euro per share per financial year. Dividend payments are made semi-annually.
Infortar Group's management proposes to pay a dividend of 3 euros per share for
the 2024 financial year results.
Consolidated statement of profit or loss and other comprehensive income
(in thousands of EUR) 12 months 2024 12 months 2023
-------------------------------------------------------------------------------
Revenue 1 371 775 1 084 626
-------------------------------------------------------------------------------
Cost of goods (goods and services) sold -1 243 034 -934 811
-------------------------------------------------------------------------------
Write-down of receivables -113 -342
-------------------------------------------------------------------------------
Gross profit 128 628 149 473
-------------------------------------------------------------------------------
Marketing expenses -21 086 -1 620
-------------------------------------------------------------------------------
General administrative expenses -50 438 -22 085
-------------------------------------------------------------------------------
Profit (loss) from biological assets -139 0
-------------------------------------------------------------------------------
Profit (loss) from the change in the fair value
of the investment property -949 -4 074
-------------------------------------------------------------------------------
Profit (loss) from changes in the fair value of
fixed assets -8 691
-------------------------------------------------------------------------------
Unsettled gain/loss on derivative financial
instruments 26 672 1 969
-------------------------------------------------------------------------------
Other operating revenue 4 682 2 523
-------------------------------------------------------------------------------
Other operating expenses -1 655 -2 558
-------------------------------------------------------------------------------
Operating profit 77 024 123 628
-------------------------------------------------------------------------------
Profit (loss) from investments accounted for by
equity method 22 974 39 639
-------------------------------------------------------------------------------
Financial income and expenses 13 392 0
-------------------------------------------------------------------------------
Other financial investments -50 -4
-------------------------------------------------------------------------------
Interest expense -38 274 -22 573
-------------------------------------------------------------------------------
Interest income 4 979 2 765
-------------------------------------------------------------------------------
Profit (loss) from changes in exchange rates 100 -173
-------------------------------------------------------------------------------
Gain from bargain purchase 93 659 159 158
-------------------------------------------------------------------------------
Total financial income and expenses 73 806 139 173
-------------------------------------------------------------------------------
Profit before tax 173 804 302 440
-------------------------------------------------------------------------------
Corporate income tax 19 866 -8 610
-------------------------------------------------------------------------------
Profit for the financial year 193 670 293 830
-------------------------------------------------------------------------------
including:
-------------------------------------------------------------------------------
Profit attributable to the owners of the parent
company 191 253 293 778
-------------------------------------------------------------------------------
Profit attributable to non-controlling interest 2 417 52
-------------------------------------------------------------------------------
Other comprehensive income
-------------------------------------------------------------------------------
Items that will not be reclassified to profit or
loss
-------------------------------------------------------------------------------
Revaluation of post-employment benefit
obligations -141 -44
-------------------------------------------------------------------------------
Items that may be subsequently reclassified to
the income statement:
-------------------------------------------------------------------------------
Revaluation of risk hedging instruments -45 792 -58 189
-------------------------------------------------------------------------------
Exchange rate differences attributable to
foreign subsidiaries 53 -42
-------------------------------------------------------------------------------
Total of other comprehensive income -45 880 -58 275
-------------------------------------------------------------------------------
Total income 147 790 235 555
-------------------------------------------------------------------------------
including:
-------------------------------------------------------------------------------
Comprehensive profit attributable to the owners
of the parent company 145 514 235 503
-------------------------------------------------------------------------------
Comprehensive profit attributable to non-
controlling interest 2 417 52
-------------------------------------------------------------------------------
Ordinary earnings per share (in euros per share) 9,36 14,62
-------------------------------------------------------------------------------
Diluted earnings per share (in euros per share) 9,12 14,15
Consolidated statement of financial position
(in thousands of EUR) 31.12.24 31.12.23
------------------------------------------------------------------------------
Current assets
------------------------------------------------------------------------------
Cash and cash equivalents 167 579 87 115
------------------------------------------------------------------------------
Short-term derivatives 8 333 28 728
------------------------------------------------------------------------------
Settled derivative receivables 676 5 958
------------------------------------------------------------------------------
Other prepayments and receivables 155 351 162 575
------------------------------------------------------------------------------
Prepaid taxes 3 831 925
------------------------------------------------------------------------------
Trade and other receivables 38 517 20 185
------------------------------------------------------------------------------
Prepayments for inventories 2 498 3 493
------------------------------------------------------------------------------
Inventories 215 914 146 884
------------------------------------------------------------------------------
Biological assets 941 0
------------------------------------------------------------------------------
Total current assets 593 640 455 863
Non-current assets
------------------------------------------------------------------------------
Investments to associates 16 603 346 014
------------------------------------------------------------------------------
Long-term derivative instruments 3 214 1 125
------------------------------------------------------------------------------
Long-term loans and other receivables 35 163 9 072
------------------------------------------------------------------------------
Investment property 67 931 176 024
------------------------------------------------------------------------------
Property, plant and equipment 1 909 458 446 748
------------------------------------------------------------------------------
Intangible assets 38 874 14 366
------------------------------------------------------------------------------
Right-of-use assets 47 598 11 300
------------------------------------------------------------------------------
Biological assets 2 753 0
------------------------------------------------------------------------------
Total non-current assets 2 121 594 1 004 649
------------------------------------------------------------------------------
TOTAL ASSETS 2 715 234 1 460 512
(in thousands of EUR) 31.12.24 31.12.23
------------------------------------------------------------------------------
Current liabilities
------------------------------------------------------------------------------
Loan liabilities 497 162 184 259
------------------------------------------------------------------------------
Rental liabilities 9 020 1 766
------------------------------------------------------------------------------
Payables to suppliers 87 941 74 751
------------------------------------------------------------------------------
Tax obligations 49 354 32 822
------------------------------------------------------------------------------
Buyers' advances 31 126 3 099
------------------------------------------------------------------------------
Settled derivatives 8 728 1 463
------------------------------------------------------------------------------
Other current liabilities 63 431 10 851
------------------------------------------------------------------------------
Short term derivatives 27 704 3 659
------------------------------------------------------------------------------
Total current liabilities 774 466 312 670
Non-current liabilities
------------------------------------------------------------------------------
Long-term provisions 9 946 8 399
------------------------------------------------------------------------------
Deferred taxes 2 816 33 233
------------------------------------------------------------------------------
Other long-term liabilities 43 209 30 679
------------------------------------------------------------------------------
Long-term derivatives 1 471 186
------------------------------------------------------------------------------
Loan-liabilities 676 670 246 410
------------------------------------------------------------------------------
Rental liabilities 40 435 8 725
------------------------------------------------------------------------------
Total non-current liabilities 774 547 327 632
------------------------------------------------------------------------------
TOTAL LIABILITIES 1 549 013 640 302
(in thousands of EUR) 31.12.24 31.12.23
------------------------------------------------------------------------------
Equity
------------------------------------------------------------------------------
Share capital 2 117 2 105
------------------------------------------------------------------------------
Own shares -72 -95
------------------------------------------------------------------------------
Share premium 32 484 29 344
------------------------------------------------------------------------------
Reserve capital 212 205
------------------------------------------------------------------------------
Option reserve 6 223 3 864
------------------------------------------------------------------------------
Hedging reserve* -21 674 24 118
------------------------------------------------------------------------------
Unrealised exchange rate differences 45 -39
------------------------------------------------------------------------------
Post-employment benefit obligation reserve -185 -44
------------------------------------------------------------------------------
Retained earnings from previous periods 890 167 759 918
------------------------------------------------------------------------------
Total equity attributable to equity holders of the Parent 909 317 819 376
------------------------------------------------------------------------------
Minority interests 256 904 834
------------------------------------------------------------------------------
Total equity 1 166 221 820 210
TOTAL LIABILITIES AND EQUITY 2 715 234 1 460 512
Consolidated statement of cash flows
Cash flows from operating activities
(in thousands of EUR) 12 months 12 months
2024 2023
-------------------------------------------------------------------------------
Profit for the financial year 193 670 293 830
-------------------------------------------------------------------------------
Adjustments:
-------------------------------------------------------------------------------
Depreciation, amortisation, and impairment of non-current
assets 68 251 19 655
-------------------------------------------------------------------------------
Change in the fair value of the investment property -22 974 -39 639
-------------------------------------------------------------------------------
Change in the value of derivatives -1 483 54 122
-------------------------------------------------------------------------------
Other financial income/expenses -112 030 -161 965
-------------------------------------------------------------------------------
Calculated interest expenses 38 274 22 573
-------------------------------------------------------------------------------
Profit/loss from non-current assets sold -955 -91
-------------------------------------------------------------------------------
Income from grants recognised as revenue -643 784
-------------------------------------------------------------------------------
Corporate income tax expense -19 866 8 610
-------------------------------------------------------------------------------
Income tax paid -10 551 -267
-------------------------------------------------------------------------------
Change in receivables and prepayments related to operating
activities 52 023 54 540
-------------------------------------------------------------------------------
Change in inventories -12 831 -61 914
-------------------------------------------------------------------------------
Change in payables and prepayments relating to operating
activities -81 275 -406
-------------------------------------------------------------------------------
Change in biological assets -322 0
-------------------------------------------------------------------------------
Total cash flows from operating activities 89 288 189 832
Cash flows from investing activities
-------------------------------------------------------------------------------
Purchases of associates 0 -10 314
-------------------------------------------------------------------------------
Purchases of subsidiaries -111 684 -103 414
-------------------------------------------------------------------------------
Received dividends 20 862 0
-------------------------------------------------------------------------------
Given loans 1 918 6 652
-------------------------------------------------------------------------------
Interest gain 4 953 2 691
-------------------------------------------------------------------------------
Purchases Investment property -10 352 -18 304
-------------------------------------------------------------------------------
Purchases of property, plant and equipment -27 835 -18 143
-------------------------------------------------------------------------------
Proceeds from sale of property 1 561 -252
-------------------------------------------------------------------------------
Total cash flows used in investing activities -120 577 -141 084
Cash flows used in financing activities 12 months 12 months
2024 2023
-------------------------------------------------------------------------------
Proceeds from targeted financing 225 0
-------------------------------------------------------------------------------
Changes in overdraft 12 863 14 348
-------------------------------------------------------------------------------
Proceeds from borrowings 358 731 287 606
-------------------------------------------------------------------------------
Repayments of borrowings -151 790 -312 846
-------------------------------------------------------------------------------
Repayment of finance lease liabilities -11 300 -2 233
-------------------------------------------------------------------------------
Interest paid -39 153 -22 224
-------------------------------------------------------------------------------
Dividends paid -60 997 -15 750
-------------------------------------------------------------------------------
Gain from share emission 3 174 29 464
-------------------------------------------------------------------------------
Total cash flows used in financing activities 111 753 -21 635
TOTAL NET CASH FLOW 80 464 27 113
-------------------------------------------------------------------------------
Cash at the beginning of the year 87 115 60 002
-------------------------------------------------------------------------------
Cash at the end of the period 167 579 87 115
-------------------------------------------------------------------------------
Net (decrease)/increase in cash 80 464 27 113
The 2024 Annual Report of Aktsiaselts Infortar is attached to this notice and
will be made available on the website Reports | Infortar.
(https://infortar.ee/en/reports)
Infortar operates in seven countries, the company's main fields of activity are
maritime transport, energy and real estate. Infortar owns a 68.47% stake in
Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real
estate portfolio of approx. 141,000 m2. In addition to the three main areas of
activity, Infortar also operates in construction and mineral resources,
agriculture, printing, and other areas. A total of 110 companies belong to the
Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of
affiliated companies. Excluding affiliates, Infortar employs 6,228 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
Phone: +372 5156662
e-mail: [email protected] (mailto:[email protected])
www.infortar.ee/en/investor (http://www.infortar.ee/en/investor)