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AKTSIASELTS INFORTAR
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05.05.2025 09:00:00
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Aktsiaseltsi Infortar 2025. aasta auditeerimata konsolideeritud esimese kvartali tulemused
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Aktsiaselts Infortar (Infortar) korraldab täna kõikidele huvilistele 1. kvartali 2025 tulemusi tutvustava veebiseminari. Veebiseminariga ühinemiseks palume kasutada järgmiseid linke: 5. mail kell 12.00 eestikeelne veebiseminar (https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup- join%2F19%3Ameeting_OGEzNDJjNGUtN2I5MS00NDE2LWI1NDMtZGNkMjdlNjBmNzVk%40thread.v2 %2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32- 42128c4493be%2522%252C%2522Oid%2522%253A%252226d1c5dd-51b3-421e-a54d- 7d4596848888%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%2 53A%2522a%2522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup- join&deeplinkId=456fe20a-dfb1-44e7-88d3- c1a6e3f0cac7&directDl=true&msLaunch=true&enableMobilePage=true&suppressPrompt=tr ue) 5. mail kell 14.00 ingliskeelne veebiseminar (https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup- join%2F19%3Ameeting_MDAzMzVmOGYtZGM1OS00ZGEzLTljNzAtMmU0ZGMwMDU5ZDBl%40thread.v2 %2F0%3Fcontext%3D%257B%2522Tid%2522%253A%252286359415-f0d5-4ea5-bb32- 42128c4493be%2522%252C%2522Oid%2522%253A%252226d1c5dd-51b3-421e-a54d- 7d4596848888%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%2 53A%2522a%2522%257D%26btype%3Da%26role%3Da%26anon%3Dtrue&type=meetup- join&deeplinkId=016e2876-81f4-4fab-9138- d1e2ff1d681b&directDl=true&msLaunch=true&enableMobilePage=true&suppressPrompt=tr ue) Eesti ühe suurima ettevõtte Infortar käive kasvas aasta esimeses kvartalis võrreldes möödunud aasta sama perioodiga 20 protsenti 447 miljoni euroni, varade maht ligi kaks korda 2,6 miljardi euroni ning investeeringud kolm korda 22 miljoni euroni. Kontsern on viimaste aastate jooksul pea kahekordistanud oma kinnisvaraportfelli ning laieneb mitmes valdkonnas. Alates möödunud aasta 1. augustist konsolideerib Infortar oma aruannetes ka Tallinki tulemused. Meretranspordi ärimudel on väga tugeva sesoonsusega ning Tallinki esimese kolme kuuga teenitud 33 miljoni euro suurune kahjum kandus üle ka Infortari esimese kvartali tulemustesse. Täiendavat mõju avaldas 1,7 miljoni euro suurune tulumaks ning Infortari esimese kvartali kahjumiks kujunes kokku 14,6 miljonit, millest 4,5 miljonit eurot moodustas Infortari osanike osa. Energeetikaärile mõjus erakordselt soe talv ja tarbimise langus, kuid tervikuna teenis valdkond kasumit. Kinnisvaravaldkonna mahud näitasid aasta jooksul olulist kasvu. "Majandus toetub kolmele sambale - põllumajandusele, tööstusele ja teenindusele. Infortar on oma eesmärkide saavutamiseks ja riskide jagamiseks viimastel aastatel kõigis nendes kolmes valdkonnas oma esindatust laiendanud. Veelgi enam, kasvanud kõigis üheks turuliidriks," lausus Infortari juhatuse esimees Ain Hanschmidt. "Infortari käesoleva aasta esimese kvartali kasumlikkust mõjutas eelkõige Tallinki tulemus. Lisaks tavapärasele sesoonsusele olid esimese kvartali reisijate numbrid ettevõtte põhiturgude majanduse ja madala tarbijakindluse nägu. Samas tuleb siiski lisada, et Tallinkil on aasta keerulisim periood seljatatud ja tulevikuväljavaade optimistlikum," lausus Hanschmidt. "Energeetikaäri mõjutas erakordselt soe talv, tarbimise langus ja gaasi ülejääk, kuid tervikuna teenis valdkond kasumit, eelkõige tänu õigetele investeeringutele gaasijaotusvõrku Lätis ja Poolas. Kinnisvara valdkonnas jätkasime jõulist kasvu - oleme aastaga oma portfelli pea poole võrra suurendanud ja kasvanud üheks suurimaks kinnisvaraomanikuks Baltimaades," tähendas Hanschmidt. "Turbulentsest keskkonnast sõltumata jätkab Infortar Läänemere idakalda ühe suurima investeerimisettevõttena kasvu ja investeerimisvõimaluste otsimist. Ettevõtte kriisikindluse peamine näitaja on bilanss - Infortari bilanss ja likviidsus on tugev, kontserni vaba raha jääk ulatub 153 miljoni euroni, suudame raha genereerida ja investeerida. Samuti saame kinnitada, et jätkame lubatud dividendi poliitikaga. Investeeringute hajutatus nii valdkondade kui riikide lõikes on loonud meile tugeva platvormi, mis lubab kindlust ka heitlikel aegadel," märkis Hanschmidt. Olulisemad sündmused Meretransport Tallinki 2025. aasta esimese kvartali tulemusi ja tegevusnäitajaid mõjutas tarbijate ja ettevõtete madal kindlustunne, majanduskeskkonna väljakutsed põhiturgudel ja geopoliitilised pinged. Kvartali lõpu seisuga opereeris kontsern 14 laeva sh 2 shuttle-laeva, 6 reisilaeva, välja oli prahitud 2 laeva, 4 laeva seisis jõude. Esimeses kvartalis investeeris Tallink kokku 13,3 miljonit eurot, millest suurem osa kruiisilaevade Baltic Princess ja Silja Serenade uuendustöödeks. 2025. aasta esimeses kvartalis kestsid planeeritud hooldustööd kokku 68 päeva, mõjutades seeläbi eelkõige reisijate- ja kaubaveo mahte Soome-Rootsi liinidel. Energeetika Energia müügile mõjus negatiivselt 1. kvartalis keskmisest kõrgem temperatuur, mis vähendas nõudlust maagaasi järele. Maagaasi tarbimine 1. kvartalis Soome ja Balti piirkonnas kokku oli 15,0 TWh, mis oli 9% väiksem võrreldes aasta varasemaga (16,5 TWh). 2025. aasta 1. kvartalis müüs Elenger kokku 4,6 TWh energiat (2024. aasta 1. kvartalis 6,1 TWh). 2025. aasta 1. kvartali energiamüügist moodustas müük Eestis 17%. Ettevõtte gaasimüügi turuosa Soome-Balti turul 1. kvartalis kahanes 20,0%- le. Kinnisvara 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. Tähtsamad finantsnäitajad ja suhtarvud Finantsnäitaja/suhtarv 1 kv 2025 1 kv 2024 12 kuud 2024 Müügitulu (miljonites eurodes) 447,357 372,584 1 371,775 Brutokasum (miljonites eurodes) 26,068 50,004 128,628 EBITDA (miljonites eurodes) 27,661 74,004 145,275 EBITDA marginaal (%) 6,2% 19,9% 10,6% Ärikasum/ kahjum (EBIT) (miljonites eurodes) -0,655 67,624 77,024 Kasum/ kahjum (miljonites eurodes) -14,561 62,062 193,670 Emaettevõtte omanikele kuuluv kasum/ kahjum -4,479 62,167 191,253 (miljonites eurodes) Puhaskasum/kahjum aktsia kohta (eurodes)* -0,2 3,1 9,6 Omakapital (miljonites eurodes) 1 181,002 820,210 1 166,222 Kohustised (miljonites eurodes) 1 105,305 852,690 1 223, 287 Netovõlg (miljonites eurodes) 952,397 195,799 1 055,708 Investeerimislaenude ja EBITDA suhe** 3.3x 1.5x 3.0x (*)Puhaskasum aktsia kohta (eurodes) arvutatakse järgmise valemi abil: emaettevõtte omanikele kuuluv kasum/kahjum on jagatud 31.03.25 kehtiva aktsiate arvuga, millest on maha arvestatud Infortari omaaktsiad. (**)( Investeerimislaenud / EBITDA, mis on viidud aasta baasile sh. kasutatud võrreldavuse hu)(vi)(des Tallink Grupp tegelik)(u vastava perioodi EBITDA-)(d.) Müügitulu 2025. majandusaasta 1 kvartalis suurenes kontserni konsolideeritud müügitulu 74,7 miljoni euro võrra 447,4 miljoni euroni (2024 konsolideeritud müügitulu esimeses kvartalis 372,6 miljonit eurot). Olulist mõju avaldas Tallink Grupp tulemuste konsolideerimine Infortari konsolideeritud finantsaruannetesse alates 1. august 2024. EBITDA ja segmendiaruandlus Meretranspordi segmendi EBITDA oli 2025. majandusaasta esimeses kvartalis -3,8 miljonit eurot (2024. majandusaasta esimeses kvartalis 34,5 miljonit eurot). Energeetikasegmendi EBITDA oli 2025. majandusaasta esimeses kvartalis 31,8 miljonit eurot (2024. majandusaasta esimeses kvartalis 73,9 miljonit eurot). Kinnisvarasegmendis võetakse kasumlikkuse hindamisel arvesse eraldiseisvate kinnisvara ettevõtete EBITDA. Kinnisvara EBITDA oli 2024. majandusaasta esimeses kvartalis 3,4 miljonit eurot (2024. majandusaasta esimeses kvartalis 3,8 miljonit eurot). Puhaskasum (kahjum) Konsolideeritud puhaskasum (kahjum) oli 2025. majandusaasta esimeses kvartalis -14,6 miljonit eurot, sh. Infortari omanikele kuuluv osa -4,47 miljonit eurot (2024. majandusaasta esimeses kvartalis 62,1 miljonit eurot sh. Infortari omanikele kuuluv osa 62,2 miljonit eurot). Investeeringud 2024. aasta kevadel sisenes Infortar põllumajanduse valdkonda, soetas Eesti ühe suurima piimafarmi Halingal ning ehitab farmi kõrvale rohegaasijaama kohaliku biometaani tootmiseks. Täna, 5. mail teatas Infortar täiendavast investeeringu plaanist Estonia Farmid OÜ-s. 2025. aasta esimeses kvartalis oli Infortar grupi investeeringute kogusumma ligikaudu 22. miljonit eurot. Finantseerimine Laenu ja liisingkohustised olid 2025. majandusaasta esimeses kvartalis kokku 1 105,3 miljonit eurot (2024. majandusaasta lõpu seisuga 1 223,3 miljonit eurot). Infortari netovõlg 1 055,7 miljonit eurot. 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. Ettepaneku kohaselt toimuvad väljamaksed juulis ja detsembris 2025. Konsolideeritud kasumiaruanne (tuhandetes eurodes) 1. kv 2025 1. kv 2024 12 kuud 2024 ------------------------------------------------------------------------------- Müügitulu 447 357 372 584 1 371 775 ------------------------------------------------------------------------------- Müügikulu -421 173 -322 573 -1 243 034 ------------------------------------------------------------------------------- Nõuete allahindlused -116 -7 -113 ------------------------------------------------------------------------------- Brutokasum 26 068 50 004 128 628 ------------------------------------------------------------------------------- Turustuskulud -10 976 -415 -21 086 ------------------------------------------------------------------------------- Üldhalduskulud -20 965 -7 238 -50 438 ------------------------------------------------------------------------------- Kasum/kahjum tuletisinstrumentidest 0 26 672 ------------------------------------------------------------------------------- Kasum/kahjum bioloogilistelt varadelt -33 0 -139 ------------------------------------------------------------------------------- Kahjum kinnisvarainvesteeringute õiglase väärtuse muutusest 0 156 -949 ------------------------------------------------------------------------------- Kasum/kahjum põhivara õiglase väärtuse muutusest 3 939 24 659 -8 691 ------------------------------------------------------------------------------- Muud äritulud 1 956 600 4 682 ------------------------------------------------------------------------------- Muud ärikulud -644 -142 -1 655 ------------------------------------------------------------------------------- Ärikasum -655 67 624 77 024 (tuhandetes eurodes) 1. kv 2025 1. kv 2024 12 kuud 2024 ------------------------------------------------------------------------------- Kasum kapitaliosaluse meetodil arvestatud investeeringutelt 955 2 000 22 974 ------------------------------------------------------------------------------- Finantstulud ja -kulud: ------------------------------------------------------------------------------- Finantsinvesteeringute tulu/kulu -333 0 13 342 ------------------------------------------------------------------------------- Intressikulu -12 896 -6 745 -38 274 ------------------------------------------------------------------------------- Intressitulu 842 1 244 4 979 ------------------------------------------------------------------------------- Kasum/kahjum valuutakursi muutustest -315 -2 100 ------------------------------------------------------------------------------- Muud finantstulud/-kulud -451 4 93 659 ------------------------------------------------------------------------------- Finantstulud ja -kulud kokku -13 153 -5 499 73 806 ------------------------------------------------------------------------------- Kasum enne maksustamist -12 853 64 125 173 804 ------------------------------------------------------------------------------- Ettevõtte tulumaks -1 708 -2 063 19 866 ------------------------------------------------------------------------------- Kasum/kahjum -14 561 62 062 193 670 ------------------------------------------------------------------------------- sealhulgas: ------------------------------------------------------------------------------- Emaettevõtte omanikele kuuluv kasum/kahjum -4 479 62 167 191 253 ------------------------------------------------------------------------------- Vähemusosalusele kuuluv kasum/kahjum -10 082 -105 2 417 Muu koondkasum 1. kv 2025 1. kv 2024 12 kuud 2024 ------------------------------------------------------------------------------- Kirjed, mida ei klassifitsserita kasumiaruandesse: ------------------------------------------------------------------------------- Töösuhtejärgsete hüvitiste kohustuste ümberhindlus -141 ------------------------------------------------------------------------------- Kirjed, mida võib edaspidi ümber klassifitseerida kasumiaruandesse: ------------------------------------------------------------------------------- Rahavoogude riskimaandamisinstrumendid -45 792 ------------------------------------------------------------------------------- Välismaiste tütarettevõtjate ümberarvestusel tekkinud valuutakursivahed 53 ------------------------------------------------------------------------------- Muu koondkasum kokku -45 880 ------------------------------------------------------------------------------- Koondkasum/-kahjum kokku 147 790 ------------------------------------------------------------------------------- sealhulgas: ------------------------------------------------------------------------------- Emaettevõtte omanikele kuuluv kasum/kahjum 145 514 ------------------------------------------------------------------------------- Vähemusosalusele kuuluv kasum/kahjum 2 417 ------------------------------------------------------------------------------- Tavakasum aktsia kohta -0,22 14,62 9,36 ------------------------------------------------------------------------------- Lahustatud kasum aktsia kohta -0,21 14,15 14,15 Konsolideeritud finantsseisundi aruanne (tuhandetes eurodes) 31.03.25 31.12.24 ----------------------------------------------------------------------- KÄIBEVARA ----------------------------------------------------------------------- Raha 152 908 167 579 ----------------------------------------------------------------------- Lühiajalised finantsinvesteeringud 0 0 ----------------------------------------------------------------------- Lühiajalised tuletisinstrumendid 16 968 8 333 ----------------------------------------------------------------------- Realiseerunud tuletisinstrumentide nõuded 2 448 676 ----------------------------------------------------------------------- Nõuded ostjatele 153 040 155 351 ----------------------------------------------------------------------- Maksude ettemaksed 3 650 3 831 ----------------------------------------------------------------------- Muud nõuded ja ettemaksud 51 379 38 517 ----------------------------------------------------------------------- Ettemaksed varude eest 1 953 2 498 ----------------------------------------------------------------------- Varud 124 636 215 914 ----------------------------------------------------------------------- Bioloogilised varad 941 941 ----------------------------------------------------------------------- Käibevara kokku 507 923 593 640 PÕHIVARA 31.03.25 31.12.24 ----------------------------------------------------------------------- Investeeringud sidusettevõtetesse 17 559 16 603 ----------------------------------------------------------------------- Pikajalised tuletisinstrumendid 340 3 214 ----------------------------------------------------------------------- Muud pikaajalised nõuded 34 685 35 163 ----------------------------------------------------------------------- Õiglases väärtuses põhivara 1 309 599 1 315 167 ----------------------------------------------------------------------- Kinnisvarainvesteeringud 68 175 67 931 ----------------------------------------------------------------------- Materiaalne põhivara 598 280 594 291 ----------------------------------------------------------------------- Immateriaalne põhivara 38 008 38 874 ----------------------------------------------------------------------- Kasutusõigusega vara 46 043 47 598 ----------------------------------------------------------------------- Bioloogiline vara 2 720 2 753 ----------------------------------------------------------------------- Põhivara kokku 2 115 409 2 121 594 ----------------------------------------------------------------------- VARAD KOKKU 2 623 332 2 715 234 KOHUSTUSED JA OMAKAPITAL (tuhandetes eurodes) 31.03.25 31.12.24 ----------------------------------------------------------------------- LÜHIAJALISED KOHUSTUSED ----------------------------------------------------------------------- Laenukohustised 396 801 497 162 ----------------------------------------------------------------------- Rendikohustised 8 755 9 020 ----------------------------------------------------------------------- Võlad tarnijatele 104 664 87 941 ----------------------------------------------------------------------- Maksukohustused 48 861 49 354 ----------------------------------------------------------------------- Ostjate ettemaksed 40 946 31 126 ----------------------------------------------------------------------- Realiseerunud tuletisinstrumendid 9 706 8 728 ----------------------------------------------------------------------- Muud lühiajalised kohustused 68 409 63 431 ----------------------------------------------------------------------- Lühiajalised tuletisinstrumendid 8 285 27 704 ----------------------------------------------------------------------- Lühiajalised kohustused kokku 686 427 774 466 PIKAAJALISED KOHUSTUSED 31.03.25 31.12.24 ----------------------------------------------------------------------- Pikaajalised eraldised 8 455 9 946 ----------------------------------------------------------------------- Edasilükkunud tulumaksukohustis 3 039 2 816 ----------------------------------------------------------------------- Muud pikaajalised kohustused 43 412 43 209 ----------------------------------------------------------------------- Pikaajalised tuletisinstrumendid 1 248 1 471 ----------------------------------------------------------------------- Laenukohustised 661 602 676 670 ----------------------------------------------------------------------- Rendikohustised 38 147 40 435 ----------------------------------------------------------------------- Pikaajalised kohustused kokku 755 903 774 547 ----------------------------------------------------------------------- KOHUSTUSED KOKKU 1 442 330 1 549 013 (tuhandetes eurodes) 31.03.25 31.12.24 ----------------------------------------------------------------------- OMAKAPITAL ----------------------------------------------------------------------- Aktsiakapital 2 117 2 117 ----------------------------------------------------------------------- Omaaktsiad -72 -72 ----------------------------------------------------------------------- Ülekurss 32 484 32 484 ----------------------------------------------------------------------- Reservkapital 212 212 ----------------------------------------------------------------------- Optsioonireserv 7 431 6 223 ----------------------------------------------------------------------- Riskimaandamise reserv* 3 510 -21 674 ----------------------------------------------------------------------- Realiseerimata kursivahed 2 854 45 ----------------------------------------------------------------------- Töösuhtejärgsete hüvitiste kohustuste reserv -44 -185 ----------------------------------------------------------------------- Jaotamata kasum 885 688 890 167 ----------------------------------------------------------------------- Aruandeaasta kasum ----------------------------------------------------------------------- Emaettevõtte omanikele kuuluv omakapital 934 180 909 317 ----------------------------------------------------------------------- Vähemusosalus 246 822 256 904 ----------------------------------------------------------------------- Omakapital kokku 1 181 002 1 166 221 KOHUSTUSED JA OMAKAPITAL KOKKU 2 623 332 2 715 234 Konsolideeritud rahavoogude aruanne (tuhandetes eurodes) 3 kuud 2025 12 kuud 2024 ------------------------------------------------------------------------------- Kvartali kasum/kahjum -14 561 193 670 ------------------------------------------------------------------------------- Korrigeerimised: ------------------------------------------------------------------------------- Põhivara kulum ja väärtuse langus 28 316 68 251 ------------------------------------------------------------------------------- Kinnisvarainvesteeringute väärtuse muutus 0 0 ------------------------------------------------------------------------------- Kapitaliosaluse ümberhindlus -956 -22 974 ------------------------------------------------------------------------------- Tuletisinstrumentide väärtuse muutus -79 -1 483 ------------------------------------------------------------------------------- Muud finantstulud/-kulud 2 300 -112 030 ------------------------------------------------------------------------------- Arvestatud intressikulud 12 896 38 274 ------------------------------------------------------------------------------- Kasum/kahjum põhivarast -116 -955 ------------------------------------------------------------------------------- Tuludes kajastatud sihtfinantseerimise tulu -385 -643 ------------------------------------------------------------------------------- Arvestatud tulumaksukulu 1 708 -19 866 ------------------------------------------------------------------------------- Makstud tulumaks -1 485 -10 551 ------------------------------------------------------------------------------- Äritegevusega seotud nõuete ja ettemaksete muutus -12 184 52 023 ------------------------------------------------------------------------------- Varude muutused 91 823 -12 831 ------------------------------------------------------------------------------- Äritegevusega seotud kohustuste muutus 29 780 -81 275 ------------------------------------------------------------------------------- Bioloogiliste varade muutus 33 -322 ------------------------------------------------------------------------------- Kokku rahavood äritegevusest 137 090 89 288 Rahavood investeerimistegevusest 3 kuud 2025 12 kuud 2024 ------------------------------------------------------------------------------- Tasutud tütarettevõtete ostul -333 -111 684 ------------------------------------------------------------------------------- Laekunud muude finantsinvesteeringute müügist 0 0 ------------------------------------------------------------------------------- Saadud dividendid 0 20 862 ------------------------------------------------------------------------------- Antud laenude tagasimaksed 607 1 918 ------------------------------------------------------------------------------- Laekunud intressid 755 4 953 ------------------------------------------------------------------------------- Tasutud kinnisvarainvesteeringute soetamisel -244 -10 352 ------------------------------------------------------------------------------- Tasutud materiaalse ja immateriaalse põhivara soetamisel -23 305 -27 835 ------------------------------------------------------------------------------- Laekunud kinnisvarainvesteeringute ja põhivara müügist 139 1 561 ------------------------------------------------------------------------------- Kokku rahavood investeerimistegevusest -22 381 -120 577 Rahavood finantseerimistegevusest 3 kuud 2025 12 kuud 2024 ------------------------------------------------------------------------------- Saadud sihtfinantseerimine 394 225 ------------------------------------------------------------------------------- Arvelduskrediidi muutus -43 343 12 863 ------------------------------------------------------------------------------- Saadud laene 94 276 358 731 ------------------------------------------------------------------------------- Saadud laenude tagasimaksed -166 362 -151 790 ------------------------------------------------------------------------------- Rendikohustiste põhiosa tagasimaksed -3 591 -11 300 ------------------------------------------------------------------------------- Makstud intressid -10 754 -39 153 ------------------------------------------------------------------------------- Makstud dividendid 0 -60 997 ------------------------------------------------------------------------------- Laekunud aktsiate emiteerimisest 0 3 174 ------------------------------------------------------------------------------- Kokku rahavood finantseerimistegevusest -129 380 111 753 Rahavood kokku -14 671 80 464 ------------------------------------------------------------------------------- Raha ja raha ekvivalendid perioodi alguses 167 579 87 115 ------------------------------------------------------------------------------- Raha ja raha ekvivalendid perioodi lõpus 152 908 167 579 ------------------------------------------------------------------------------- Raha ja raha ekvivalentide muutus -14 671 80 464 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 6296 inimesele. Lisainfo: Kadri Laanvee AS Infortar investorsuhete juht Tel. 5156662 E-mail: [email protected] www.infortar.ee/investorile (https://www.globenewswire.com/Tracker?data=2ear2O8DCtL7vsNvMOavZ_rcPmVfqOA89hOK z09b9ZSMdlbyRrfRMIOlbk6ffRm6qv6ibQFAxnte3SxGAYn- WF8tXvR1q31SlEuW2xqyk9lk8v9k99ei2UQRLeTeAlqAr_MRMvM- Frmjf8WBJYN3FrX4hZ1iO6z2Z8jxCt9iIH3iKePm8qnyKmDYoeDjoe8wMFkcuMaphh_kEqGLz- iuIlvaRL72MjaU3igYuFk3s3ozUKvMpIj66D3LcNepFEtkiCcF5FEx- 09NVlRvbJUvY41z8D17_P9BIDMTA-quUOOxhVIAvBukFEW88MZKs7zk)
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Aktsiaselts Infortar interim report for Q1 2025
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Aktsiaselts Infortar interim report for Q1 2025
Infortar will arrange a webinar for investors today 5 May 2025.Please join the
webinar via the following links:
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Estonia's largest investment holding company, Infortar, increased its turnover
by 20% in the first quarter of the year compared to the same period last year,
reaching EUR447 million. The group's total assets nearly doubled to EUR2.6 billion,
while investments tripled to EUR22 million. In recent years, Infortar has nearly
doubled the size of its real estate portfolio and is actively expanding across
multiple sectors.
Since August 1st of last year, the results of Tallink, a group company, have
been consolidated into Infortar's financial statements. Due to the highly
seasonal nature of the maritime transport business, Tallink's first-quarter loss
of EUR33 million was reflected in Infortar's own results. An additional impact
came from a EUR1.7 million income tax expense, resulting in a total net loss of
EUR14.6 million for Infortar in the first quarter, of which EUR4.5 million was
attributable to Infortar's shareholders. The energy business was affected by an
exceptionally warm winter and lower consumption, but remained profitable
overall. The real estate segment, meanwhile, showed significant year-on-year
growth in volumes.
"The economy stands on three pillars - agriculture, industry, and services. In
recent years, Infortar has expanded its presence across all three to achieve its
goals and diversify risk. Moreover, we have grown into a market leader in each,"
said Ain Hanschmidt, Chairman of the Management Board of Infortar.
"The performance of Tallink had the biggest impact on Infortar's first-quarter
profitability. In addition to typical seasonality, passenger numbers in the
first quarter reflected the state of the core markets' economies and low
consumer confidence. Still, it is important to note that the most challenging
period of the year is now behind Tallink, and the outlook is more optimistic,"
Hanschmidt added.
"The energy business was affected by an exceptionally mild winter, lower
consumption, and a gas surplus. Nevertheless, the segment remained profitable,
primarily due to well-placed investments in gas distribution networks in Latvia
and Poland. In real estate, we continued rapid growth - over the past year, we
have expanded our portfolio by nearly 50%, becoming one of the largest property
owners in the Baltics," said Hanschmidt.
"Despite a turbulent environment, Infortar continues to grow as one of the
largest investment companies on the eastern coast of the Baltic Sea, actively
seeking new investment opportunities. Our balance sheet strength is the key
indicator of resilience - Infortar's financial position and liquidity remain
solid, free liquidity is EUR153 million enabling us to generate cash and invest.
We can also confirm our continued commitment to the stated dividend policy.
Diversification across sectors and countries has created a strong platform that
provides confidence even in volatile times," Hanschmidt concluded.
Major Event
Maritime transport
Tallink´s first quarter of 2025 was impacted by low consumer and business
confidence levels, the economic challenges in the Group's core markets and
global geopolitical tensions. As at the end of the quarter, the Group operated
14 vessels including 2 shuttle vessels, 6 passenger vessels, 2 vessels that were
chartered out and 4 vessels that were in lay-up.
During the quarter Tallink´s total investments amounted to EUR 13.3 million
majority of which were made to upgrading the cruise ferries Baltic Princess and
Silja Serenade. The planned maintenance works totalling 68 days in the first
quarter of 2025 affected the passenger and cargo levels in Finland-Sweden
routes.
Energy
In the first quarter, natural gas consumption in the Finnish-Baltic region
totalled 15,0 TWh, decreasing by 19% compared with the previous year (16,5 TWh).
Energy sales were negatively impacted by higher-than-average temperatures, which
reduced the demand for natural gas.
In the first quarter of 2025, Elenger Grupp sold a total of 4.6 TWh of energy
(compared to 6,1 TWh in Q1 2024). Sales in Estonia accounted for 17% of the
energy sales in Q1 2025. The company´s market share decreased in Q1 2025 to
20,0% in the Finland-Baltic gas market.
Real estate
At the end of last year, the Rimi logistics center in Saue municipality received
its usage permit; this summer, the new bridge in Pärnu will be completed, and
next year, DEPO will open its second store in Estonia, located in Lasnamäe.
Key financial figures
Key figures Q1 2025 Q1 2024 12 months 2024
Sales revenue. mEUR 447.357 372.584 1 371.775
Gross profit. mEUR 26.068 50.004 128.628
EBITDA. mEUR 27.661 74.004 145.275
EBITDA margin (%) 6.2% 19.9% 10.6%
Net profit. EBIT. mEUR -0.655 67.624 77.024
Total profit(-loss). mEUR -14.561 62.062 193.670
Net profit (-loss) holders of the Parent mEUR -4.479 62.167 191.253
EPS (euros)* -0.2 3.1 9.6
Total equity mEUR 1 181.002 820.210 1 166.222
Total liabilities mEUR 1 105.305 852.690 1 223.287
Net debt mEUR 952.397 195.799 1 055.708
Investment loans to EBITDA (ratio)** 3.3x 1.5x 3.0x
(Notes: )(*)(For the earnings per share (EPS) calculation, the number of shares
as of 31.03.35 has been used for comparability. Formula: profit/loss
attributable to Infortar shareholders divided by the number of shares, excluding
own shares issued under the stock option program. Example calculation based on
the end of Q1 2024: (191 x 1,000,000) / (20,443,629 - 722,610). )(**)(
Investment loans / EBITDA, annualized. For comparability, )(actual)( EBITDA of
Tallink Grupp for the relevant period has been used, based on Tallink Grupp
quarterly report)(.)
Revenue
In the first quarter of the 2025 financial year, the Group's consolidated
revenue increased by EUR 74.7 million to EUR 447.4 million (Q1 2024 consolidated
revenue: EUR 372.6 million). A significant impact came from the consolidation of
Tallink Grupp's results into Infortar's consolidated financial statements as of
1 August 2024.
EBITDA and Segment Reporting
In the first quarter of the 2025 financial year, the EBITDA of the maritime
transport segment amounted to EUR -3.8 million (Q1 2024: EUR 34.5 million).
The energy segment's EBITDA was EUR 31.8 million (Q1 2024: EUR 73.9 million).
In the real estate segment, profitability is assessed based on the EBITDA of
individual real estate entities.
Based on separate real-estate companies results, the real estate segment's
EBITDA was EUR 3.4 million in Q1 2025 (Q1 2024: EUR 3.8 million).
Net Profit (Loss)
The consolidated net loss for the first quarter of the 2025 financial year was
EUR -14.6 million, including a loss attributable to Infortar's owners of EUR
-4.5million (Q1 2024 net profit: EUR 62.1 million, including EUR 62.2 million
attributable to Infortar's owners).
Investments
In the spring of 2024, Infortar entered the agricultural sector by acquiring one
of Estonia's largest dairy farms in Halinga and began construction of a
biomethane plant next to the farm to produce local green gas. Today, on 5 May,
Infortar announced an additional investment plan in Estonia Farmid OÜ.
In the first quarter of 2025, the total amount of investments made by the
Infortar Group was approximately EUR 22 million.
Financing
As of the first quarter of the 2025 financial year, the Group's total loan and
lease liabilities amounted to EUR 1 105.3million (compared to EUR 1 223.3
million at the end of the 2024 financial year). Infortar's net debt stood at EUR
952.397 million. 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. According to the proposal, the first payout is
planned to be made no later than July, and the second payout in December 2025.
Consolidated Statement of Profit or Loss
(in thousands of EUR) Q1 2025 Q1 2024 12 months 2024
-------------------------------------------------------------------------------
Revenue 447 357 372 584 1 371 775
-------------------------------------------------------------------------------
Cost of goods (goods and services) sold -421 173 -322 573 -1 243 034
-------------------------------------------------------------------------------
Write-down of receivables -116 -7 -113
-------------------------------------------------------------------------------
Gross profit 26 068 50 004 128 628
-------------------------------------------------------------------------------
Marketing expenses -10 976 -415 -21 086
-------------------------------------------------------------------------------
General administrative expenses -20 965 -7 238 -50 438
-------------------------------------------------------------------------------
Profit (loss) from derivatives 0 26 672
-------------------------------------------------------------------------------
Profit (loss) from biological assets -33 0 -139
-------------------------------------------------------------------------------
Profit (loss) from the change in the fair
value of the investment property 0 156 -949
-------------------------------------------------------------------------------
Profit (loss) from the change in the fair
value of the investment property 3 939 24 659 -8 691
-------------------------------------------------------------------------------
Other operating revenue 1 956 600 4 682
-------------------------------------------------------------------------------
Other operating expenses -644 -142 -1 655
-------------------------------------------------------------------------------
Operating profit -655 67 624 77 024
(in thousands of EUR) Q1 2025 Q1 2024 12 months 2024
-------------------------------------------------------------------------------
Profit (loss) from investments accounted for
by equity method 955 2 000 22 974
-------------------------------------------------------------------------------
Financial income and expenses:
-------------------------------------------------------------------------------
Other financial investments -333 0 13 342
-------------------------------------------------------------------------------
Interest expense -12 896 -6 745 -38 274
-------------------------------------------------------------------------------
Interest income 842 1 244 4 979
-------------------------------------------------------------------------------
Profit (loss) from changes in exchange rates -315 -2 100
-------------------------------------------------------------------------------
Other financial income and expenses -451 4 93 659
-------------------------------------------------------------------------------
Total financial income and expenses -13 153 -5 499 73 806
-------------------------------------------------------------------------------
Profit before tax -12 853 64 125 173 804
-------------------------------------------------------------------------------
Corporate income tax -1 708 -2 063 19 866
-------------------------------------------------------------------------------
Profit for the financial year -14 561 62 062 193 670
-------------------------------------------------------------------------------
including:
-------------------------------------------------------------------------------
Profit attributable to the owners of the
parent company -4 479 62 167 191 253
-------------------------------------------------------------------------------
Profit attributable to non-controlling
interest -10 082 -105 2 417
Other comprehensive income Q1 2025 Q1 2024 12 months 2024
-------------------------------------------------------------------------------
tems that will not be reclassified to profit
or loss
-------------------------------------------------------------------------------
Revaluation of post-employment benefit
obligations -141
-------------------------------------------------------------------------------
Items that may be subsequently reclassified to the income
statement:
-------------------------------------------------------------------------------
Revaluation of risk hedging instruments -45 792
-------------------------------------------------------------------------------
Exchange rate differences attributable to
foreign subsidiaries 53
-------------------------------------------------------------------------------
Total of other comprehensive income -45 880
-------------------------------------------------------------------------------
Total income, including: 147 790
-------------------------------------------------------------------------------
including:
-------------------------------------------------------------------------------
Comprehensive profit attributable to the
owners of the parent company 145 514
-------------------------------------------------------------------------------
Comprehensive profit attributable to non-
controlling interest 2 417
-------------------------------------------------------------------------------
Ordinary earnings per share (in euros per
share) -0,22 14,62 9
-------------------------------------------------------------------------------
Diluted earnings per share (in euros per
share) -0,21 14,15 14,15
Consolidated Statement of Financial Position
(in thousands of EUR) 31.03.25 31.12.24
------------------------------------------------------------------------------
Current assets
------------------------------------------------------------------------------
Cash and cash equivalents 152 908 167 579
------------------------------------------------------------------------------
Short term financial investments 0 0
------------------------------------------------------------------------------
Derivative financial assets 16 968 8 333
------------------------------------------------------------------------------
Settled derivative receivables 2 448 676
------------------------------------------------------------------------------
Other prepayments and receivables 153 040 155 351
------------------------------------------------------------------------------
Prepayments for taxes 3 650 3 831
------------------------------------------------------------------------------
Trade and other receivables 51 379 38 517
------------------------------------------------------------------------------
Prepayments for inventories 1 953 2 498
------------------------------------------------------------------------------
Inventories 124 636 215 914
------------------------------------------------------------------------------
Biological assets 941 941
------------------------------------------------------------------------------
Total current assets 507 923 593 640
Non-current assets 31.03.25 31.12.24
------------------------------------------------------------------------------
Investments to associates 17 559 16 603
------------------------------------------------------------------------------
Long-term derivative instruments 340 3 214
------------------------------------------------------------------------------
Other long term obligations 34 685 35 163
------------------------------------------------------------------------------
Property, plant and equipment at fair value 1 309 599 1 315 167
------------------------------------------------------------------------------
Investment property 68 175 67 931
------------------------------------------------------------------------------
Property, plant and equipment 598 280 594 291
------------------------------------------------------------------------------
Intangible assets 38 008 38 874
------------------------------------------------------------------------------
Right-of-use assets 46 043 47 598
------------------------------------------------------------------------------
Biological assets 2 720 2 753
------------------------------------------------------------------------------
Total non-current assets 2 115 409 2 121 594
------------------------------------------------------------------------------
TOTAL ASSETS 2 623 332 2 715 234
(in thousands of EUR) 31.03.25 31.12.24
------------------------------------------------------------------------------
Current liabilities
------------------------------------------------------------------------------
Loan liabilities 396 801 497 162
------------------------------------------------------------------------------
Rental liabilities 8 755 9 020
------------------------------------------------------------------------------
Payables to suppliers 104 664 87 941
------------------------------------------------------------------------------
Tax obligations 48 861 49 354
------------------------------------------------------------------------------
Buyers' advances 40 946 31 126
------------------------------------------------------------------------------
Settled derivatives 9 706 8 728
------------------------------------------------------------------------------
Other current liabilities 68 409 63 431
------------------------------------------------------------------------------
Short term derivatives 8 285 27 704
------------------------------------------------------------------------------
Total current liabilities 686 427 774 466
Non-current liabilities 31.03.25 31.12.24
------------------------------------------------------------------------------
Long-term provisions 8 455 9 946
------------------------------------------------------------------------------
Deferred taxes 3 039 2 816
------------------------------------------------------------------------------
Other long-term liabilities 43 412 43 209
------------------------------------------------------------------------------
Long-term derivatives 1 248 1 471
------------------------------------------------------------------------------
Loan-liabilities 661 602 676 670
------------------------------------------------------------------------------
Rental liabilities 38 147 40 435
------------------------------------------------------------------------------
Total non-current liabilities 755 903 774 547
------------------------------------------------------------------------------
TOTAL LIABILITIES 1 442 330 1 549 013
(in thousands of EUR) 31.03.25 31.12.24
------------------------------------------------------------------------------
Equity
------------------------------------------------------------------------------
Share capital 2 117 2 117
------------------------------------------------------------------------------
Own shares -72 -72
------------------------------------------------------------------------------
Share premium 32 484 32 484
------------------------------------------------------------------------------
Reserve capital 212 212
------------------------------------------------------------------------------
Option reserve 7 431 6 223
------------------------------------------------------------------------------
Hedging reserve* 3 510 -21 674
------------------------------------------------------------------------------
Unrealised currency translation differences 2 854 45
------------------------------------------------------------------------------
Employment benefit reserve -44 -185
------------------------------------------------------------------------------
Retained earnings 885 688 890 167
------------------------------------------------------------------------------
Net profit of the financial year
------------------------------------------------------------------------------
Total equity attributable to equity holders of the Parent 934 180 909 317
------------------------------------------------------------------------------
Minority interests 246 822 256 904
------------------------------------------------------------------------------
Total equity 1 181 002 1 166 221
TOTAL LIABILITIES AND EQUITY 2 623 332 2 715 234
Consolidated Statement of Cash Flows
Cash flows from operating activities
3 months 12 months
(in thousands of EUR) 2024 2024
-------------------------------------------------------------------------------
Profit for the financial year -14 561 193 670
-------------------------------------------------------------------------------
Adjustments:
-------------------------------------------------------------------------------
Depreciation, amortisation, and impairment of non-current
assets 28 316 68 251
-------------------------------------------------------------------------------
Change in the fair value of the investment property 0 0
-------------------------------------------------------------------------------
Equity profits/losses -956 -22 974
-------------------------------------------------------------------------------
Change in the value of derivatives -79 -1 483
-------------------------------------------------------------------------------
Other financial income/expenses 2 300 -112 030
-------------------------------------------------------------------------------
Calculated interest expenses 12 896 38 274
-------------------------------------------------------------------------------
Profit/loss from non-current assets sold -116 -955
-------------------------------------------------------------------------------
Income from grants recognised as revenue -385 -643
-------------------------------------------------------------------------------
Corporate income tax expense 1 708 -19 866
-------------------------------------------------------------------------------
Income tax paid -1 485 -10 551
-------------------------------------------------------------------------------
Change in receivables and prepayments related to operating
activities -12 184 52 023
-------------------------------------------------------------------------------
Change in inventories 91 823 -12 831
-------------------------------------------------------------------------------
Change in payables and prepayments relating to operating
activities 29 780 -81 275
-------------------------------------------------------------------------------
Change in biological assets 33 -322
-------------------------------------------------------------------------------
Total cash flows from operating activities 137 090 89 288
3 months 12 months
Cash flows from investing activities 2024 2024
-------------------------------------------------------------------------------
Purchases of subsidiaries -333 -111 684
-------------------------------------------------------------------------------
Proceeds from the sale of other financial investments 0 0
-------------------------------------------------------------------------------
Received dividends 0 20 862
-------------------------------------------------------------------------------
Given loans 607 1 918
-------------------------------------------------------------------------------
Interest gain 755 4 953
-------------------------------------------------------------------------------
Purchases Investment property -244 -10 352
-------------------------------------------------------------------------------
Purchases of property, plant and equipment -23 305 -27 835
-------------------------------------------------------------------------------
Proceeds from sale of property 139 1 561
-------------------------------------------------------------------------------
Total cash flows used in investing activities -22 381 -120 577
3 months 12 months
Cash flows used in financing activities 2024 2024
-------------------------------------------------------------------------------
Gain from goverment grants 394 225
-------------------------------------------------------------------------------
Changes in overdraft -43 343 12 863
-------------------------------------------------------------------------------
Proceeds from borrowings 94 276 358 731
-------------------------------------------------------------------------------
Repayments of borrowings -166 362 -151 790
-------------------------------------------------------------------------------
Repayment of finance lease liabilities -3 591 -11 300
-------------------------------------------------------------------------------
Interest paid -10 754 -39 153
-------------------------------------------------------------------------------
Dividends paid 0 -60 997
-------------------------------------------------------------------------------
Gain from share emission 0 3 174
-------------------------------------------------------------------------------
Total cash flows used in financing activities -129 380 111 753
0 0
TOTAL NET CASH FLOW -14 671 80 464
-------------------------------------------------------------------------------
Cash at the beginning of the year 167 579 87 115
-------------------------------------------------------------------------------
Cash at the end of the period 152 908 167 579
-------------------------------------------------------------------------------
Net (decrease)/increase in cash -14 671 80 464
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 6,296 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
Phone: +372 5156662
e-mail: [email protected]
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