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AKTSIASELTS INFORTAR
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549300LS1K5S7AWHV603
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Majandusaasta aruanne
Teate ID
18500
Manused
Esitamise kuupäev ja aeg
28.04.2026 17:00:03
Teate sisu eesti keeles
Pealkiri
Aktsiaselts Infortar auditeeritud majandusaasta aruanne 2025
Teade
Aktsiaselts Infortar (edaspidi Infortar) nõukogu kiitis heaks 2025. aasta
auditeeritud aastaaruande ja esitab selle kinnitamiseks aktsionäride
üldkoosolekule.
Olulisemad sündmused 2025
Meretransport
2025. majandusaastal vedas Tallink Grupp 5,5 miljonit reisijat ehk 0,9% vähem
kui 2024. aastal. Veetud kaubaveoühikute arv vähenes eelmise aastaga võrreldes
19,2% ja oli 245 004, samas kui veetud sõiduautode arv vähenes 2,2% ja oli
760 473. Toimus kaubalaeva Sailor müük ja kruiisilaeva Silja Europa
prahilepingut pikendati kuni 2027. aasta jaanuari lõpuni võimalusega lepingut
selle lõppemisel pikendada ühe aasta võrra.
Energeetika
2025. majandusaastal tõi Elenger Inkoo ja Klaip?da terminalidesse kokku 18 TWh
energiat (2024: 18 TWh). Elengeri turuosa ulatus Soome-Balti turul kokku ligi
neljandikuni. Gaasi varusid hoiustati lisaks Läti maa-alusele gaasihoidlale ka
Poolas ja Saksamaal.Müük Eestis moodustas aasta lõpu seisuga 15% kogumahust ning
ettevõtte gaasimüügi turuosa Soome-Balti turul oli 21%.
Kinnisvara ja infrastruktuur
INF Infra jätkas Rail Baltica põhitrassi ehitusega Kangru-Saku lõigul. Lepingu
maht on 67,2 miljonit eurot ja tööd on planeeritud kestma 2028. aasta märtsini.
Jätkus Tallink Tennisekeskuse kõrval asuvale kinnistule Depo (DIY Store)
kaubanduspinna ehitamine, mille valmimise tähtaeg on 2026. aasta sügis.
Tähtsamad finantsnäitajad ja suhtarvud
+----------------------------------------------------+------------+------------+
|Finantsnäitaja/suhtarv |12 kuud 2025|12 kuud 2024|
+----------------------------------------------------+------------+------------+
|Müügitulu (miljonites eurodes) |1 837,000 |1 371,775 |
+----------------------------------------------------+------------+------------+
|Brutokasum (miljonites eurodes) |239,842 |128,628 |
+----------------------------------------------------+------------+------------+
|EBITDA (miljonites eurodes) |227,919 |145,275 |
+----------------------------------------------------+------------+------------+
|EBITDA marginaal (%) |12,4% |10,6% |
+----------------------------------------------------+------------+------------+
|Ärikasum/ kahjum (EBIT) (miljonites eurodes) |109,008 |77,024 |
+----------------------------------------------------+------------+------------+
|Aruandeaasta kasum/ kahjum (miljonites eurodes) |69,857 |193,670 |
+----------------------------------------------------+------------+------------+
|Emaettevõtte osanikele kuuluv kasum/kahjum |70,550 |191,253 |
|(miljonites eurodes) | | |
+----------------------------------------------------+------------+------------+
|Kasum aktsia kohta (eurodes)(1) |3,3 |9,1 |
+----------------------------------------------------+------------+------------+
|Omakapital (miljonites eurodes) |1 175,404 |1 166,221 |
+----------------------------------------------------+------------+------------+
|Kohustised (miljonites eurodes) |1 071,353 |1 223,287 |
+----------------------------------------------------+------------+------------+
|Netovõlg |851,582 |1 055,708 |
+----------------------------------------------------+------------+------------+
|Investeerimislaenude ja EBITDA suhe |3.0x |3.0x |
+----------------------------------------------------+------------+------------+
(1 )Kasum aktsia kohta (eurodes) arvutatakse järgmiselt: emaettevõtte omanikele
kuuluv kasum/kahjum täisarvudes/ aktsiate arv, millest on maha arvatud oma
aktsiad.
Müügitulu
2025. majandusaasta 12 kuu jooksul suurenes kontserni konsolideeritud müügitulu
465,225 miljoni euro võrra ja ulatus 1 837,000 miljoni euroni (2024. aasta 12
kuu konsolideeritud müügitulu oli 1 371,775 miljonit eurot). Olulist positiivset
mõju avaldas uute ettevõtete lisandumine konsolideerimisgruppi võrdluses eelmise
aastaga.
EBITDA ja segmendiaruandlus
EBITDA 60 protsendi kasv tulenes eelkõige Tallink Grupi tulemuste
konsolideerimisest kogu 12 kuu ulatuses, Elengeri EBITDA ligikaudu 12 miljoni
euro suurusest paranemisest ning põllumajandussektori, sh Estonia Farmide ja
Halinga, lisandumisest konsolideerimisgruppi.
Meretranspordi segmendi EBITDA oli 2025. majandusaastal 119,528 miljonit eurot
(2024. majandusaastal 175,181 miljonit eurot). Tallinki 2024 tulemusi mõjutasid
peamiselt keeruline majandusolukord koduturgudel ja tarbimiskindluse madalaim
tase viimase kümnendi jooksul.
Energeetikasegmendi EBITDA oli 2025. majandusaastal 89,323 miljonit eurot (2024.
majandusaastal 77,235 miljonit eurot). Energeetikasegmendi kasumlikkust
mõjutasid positiivselt võrguettevõtete tulemused.
Kinnisvarasegmendis võetakse kasumlikkuse hindamisel arvesse eraldiseisvate
kinnisvaraettevõtete EBITDA. Kinnisvara EBITDA oli 2025. majandusaastal kokku
14,748 miljonit eurot (2024. majandusaastal 14,309 miljonit eurot). Täiendavalt
lisandus 2025. majandusaastal arvestusse Rimi Logistikakeskus.
Puhaskasum
Konsolideeritud puhaskasum oli 2025. majandusaastal 69,857 miljonit eurot (2024.
majandusaastal 193,670 miljonit eurot). Kui välja arvata 2024. aastal Tallinki
omandamisest saadud ühekordne kasum, paranes kontserni põhitegevusest tulenev
kasumlikkus 2025. aastal.
Finantseerimine
Laenu ja liisingkohustised olid 2025. majandusaastal kokku 1 071,353 miljonit
eurot (2024. majandusaastal 1 223,287 miljonit eurot). Netovõla ja EBITDA
suhtarv on 3,7.
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 2025. aasta majandustulemuste eest dividendi 3,02 eurot aktsia kohta.
Ettepaneku kohaselt toimuvad väljamaksed juulis ja detsembris 2026.
Dividend koosneb kolmest osast:
1 euro aktsia kohta, mida makstakse vastavalt dividendipoliitikale;
AS Tallink Grupp edasi kantav dividend 1,48 eurot aktsia kohta;
Täiendav dividend 0,54 eurot aktsia kohta, mida makstakse tulenevalt
majandustulemustest 2025. aastal.
Infortari aktsiate arv kokku on 21 166 239, millest arvatakse dividendi maksetel
maha oma aktsiate arv.
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(tuhandetes eurodes) 31.12.25 31.12.24
KÄIBEVARA
Raha 219 771 167 579
Lühiajalised tuletisinstrumendid 4 732 8 333
Realiseerunud tuletisinstrumentide nõuded 1 823 676
Nõuded ostjatele 153 473 155 351
Maksude ettemaksed 5 659 3 831
Muud nõuded ja ettemaksud 38 878 38 517
Ettemaksed varude eest 476 2 498
Varud 90 672 215 914
Bioloogilised varad 1 545 941
Käibevara kokku 517 029 593 640
PÕHIVARA
Investeeringud sidusettevõtetesse 21 412 16 603
Pikaajalised tuletisinstrumendid 1 079 3 214
Pikaajalised laenud ja muud nõuded 4 548 9 055
Edasilükkunud tulumaksuvara 27 100 26 108
Kinnisvarainvesteeringud 66 872 67 931
Materiaalne põhivara 1 871 970 1 909 458
Immateriaalne põhivara 37 930 38 874
Kasutusõigusega vara 39 645 47 598
Bioloogiline vara 9 022 2 753
Põhivara kokku 2 079 578 2 121 594
VARAD KOKKU 2 596 607 2 715 234
KOHUSTISED JA OMAKAPITAL
(tuhandetes eurodes) 31.12.25 31.12.24
LÜHIAJALISED KOHUSTISED
Laenukohustised 338 515 497 162
Rendikohustised 10 029 9 020
Võlad tarnijatele 123 330 87 941
Maksukohustused 44 972 49 354
Ostjate ettemaksed 38 621 31 126
Realiseerunud tuletisinstrumendid 4 156 8 728
Muud lühiajalised kohustised 69 677 63 431
Lühiajalised tuletisinstrumendid 9 552 27 704
Lühiajalised kohustised kokku 638 852 774 466
PIKAAJALISED KOHUSTISED
Pikaajalised eraldised 8 695 9 946
Edasilükkunud tulumaksukohustis 1 894 2 816
Muud pikaajalised kohustised 46 028 43 209
Pikaajalised tuletisinstrumendid 2 925 1 471
Laenukohustised 686 187 676 670
Rendikohustised 36 622 40 435
Pikaajalised kohustised kokku 782 351 774 547
KOHUSTISED KOKKU 1 421 203 1 549 013
OMAKAPITAL
Aktsiakapital 2 117 2 117
Omaaktsiad -790 -72
Ülekurss 32 484 32 484
Reservkapital 212 212
Optsioonireserv 10 099 6 223
Riskimaandamise reserv -7 260 -21 674
Realiseerimata kursivahed 1 167 45
Töösuhtejärgsete hüvitiste kohustuste reserv -559 -185
Jaotamata kasum 884 204 890 167
Emaettevõtte omanikele kuuluv omakapital 921 674 909 317
Vähemusosalus 253 730 256 904
Omakapital kokku 1 175 404 1 166 221
KOHUSTISED JA OMAKAPITAL KOKKU 2 596 607 2 715 234
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
12 kuud 12 kuud
(tuhandetes eurodes) 2025 2024
Müügitulu 1 837 000 1 371 775
Müügikulu -1 596 485 -1 243 034
Nõuete allahindlused -673 -113
Brutokasum 239 842 128 628
Turustuskulud -46 571 -21 086
Üldhalduskulud -94 178 -50 438
Kasum/kahjum tuletisinstrumentidest 10 847 26 672
Kasum/kahjum bioloogilistelt varadelt 5 412 -139
Kasum (kahjum) kinnisvarainvesteeringute õiglase
väärtuse muutusest -2 868 -949
Kasum (kahjum) põhivara õiglase väärtuse muutusest -9 265 -8 691
Muud äritulud 10 080 4 682
Muud ärikulud -4 291 -1 655
Ärikasum 109 008 77 024
Kasum kapitaliosaluse meetodil arvestatud
investeeringutelt 4 247 22 974
Finantstulud ja -kulud
Finantsinvesteeringute tulu 19 008 13 392
Finantsinvesteeringute kulu -2 592 -50
Intressikulu -45 749 -38 274
Intressitulu 3 070 4 979
Kasum/kahjum valuutakursi muutustest 244 100
Soodusostust saadud tulud 0 93 659
Finantstulud ja -kulud kokku -26 019 73 806
Kasum enne maksustamist 87 236 173 804
Ettevõtte tulumaks -17 379 19 866
Aruandeaasta kasum/kahjum 69 857 193 670
sealhulgas:
Emaettevõtte omanikele kuuluv kasum/kahjum 70 550 191 253
Vähemusosalusele kuuluv kasum/kahjum -693 2 417
Muu koondkasum
Kirjed, mida ei klassifitseerita kasumiaruandesse:
Töösuhtejärgsete hüvitiste kohustuste
ümberhindlus -374 -141
Kirjed, mida võib edaspidi ümber klassifitseerida
kasumiaruandesse:
Riskimaandamisinstrumentide ümberhindlus 14 414 -45 792
Välismaiste tütarettevõtjate ümberarvestusel tekkinud
valuutakursivahed 1 122 53
Muu koondkasum kokku 15 162 -45 880
Aruandeaasta koondkasum/-kahjum kokku 85 019 147 790
sealhulgas:
Emaettevõtte omanikele kuuluv kasum/kahjum 85 712 145 373
Vähemusosalusele kuuluv kasum/kahjum -693 2 417
Tavakasum aktsia kohta 3,43 9,36
Lahustatud kasum aktsia kohta 3,37 9,12
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
Rahavood äritegevusest
(tuhandetes eurodes) 12 kuud 2025 12 kuud 2024
Aruandeaasta kasum 69 857 193 670
Korrigeerimised:
Põhivara ja kinnisvara investeeringute kulum ning
väärtuse muutus 118 911 68 251
Kapitaliosaluse ümberhindlus -4 247 -22 974
Tuletisinstrumentide väärtuse muutus 3 433 -1 483
Muud finantstulud/-kulud -15 585 -112 030
Arvestatud intressikulud 45 749 38 274
Kasum/kahjum põhivara müügist -479 -955
Tuludes kajastatud sihtfinantseerimise tulu -1 791 -643
Arvestatud tulumaksukulu 17 379 -19 866
Eraldiste moodustamine ja korrigeerimine 3 519 -321
Korrigeerimised kokku 166 889 -51 747
Makstud tulumaks -18 302 -10 551
Äritegevusega seotud nõuete ja ettemaksete muutus -195 52 023
Varude muutused 131 377 -12 831
Äritegevusega seotud kohustiste ja ettemaksete
muutus 36 289 -80 954
Bioloogiliste varade muutus -1 944 -322
Kokku rahavood äritegevusest 383 971 89 288
Rahavood investeerimistegevusest
Tasutud sidusettevõtete ostul 12 0
Netorahavood tütarettevõtete ostul -43 881 -111 684
Antud laenude tagasimaksed 4 513 1 918
Laekunud dividendid 0 20 862
Laekunud intressid 3 043 4 953
Tasutud kinnisvarainvesteeringute soetamisel -3 348 -10 352
Tasutud materiaalse ja immateriaalse põhivara
soetamisel -76 747 -27 835
Laekunud kinnisvarainvesteeringute ja põhivara
müügist 84 584 1 561
Kokku rahavood investeerimistegevusest -31 824 -120 577
Rahavood finantseerimistegevusest 12 kuud 2025 12 kuud 2024
Laekumised sihtfinantseerimisest 4 196 225
Arvelduskrediidi muutus 1 224 12 863
Saadud laene 103 379 358 731
Saadud laenude tagasimaksed -271 067 -151 790
Rendikohustiste põhiosa tagasimaksed -13 839 -11 300
Makstud intressid -46 617 -39 153
Makstud dividendid -76 513 -60 997
Laekunud aktsiate emiteerimisest -718 3 174
Kokku rahavood finantseerimistegevusest -299 955 111 753
Rahavood kokku 52 192 80 464
Raha ja raha ekvivalendid perioodi alguses 167 579 87 115
Raha ja raha ekvivalendid perioodi lõpus 219 771 167 579
Raha ja raha ekvivalentide muutus 52 192 80 464
Infortar tegutseb seitsmes riigis, ettevõtte peamised tegevusvaldkonnad on
meretransport, energeetika ja kinnisvara. Infortar omab 68,47% suurust osalust
AS-is Tallink Grupp, 100% osalust AS-is Elenger Grupp ning mitmekülgset ja
kaasaegset, ca 141 000 m(2) suurust kinnisvaraportfelli. Lisaks kolmele
põhitegevusvaldkonnale tegutseb Infortar põllumajanduse, insenerehituse,
ehitusmaavarade, trükkimise ja muudes valdkondades. Kokku kuulub Infortari
kontserni 109 ettevõtet, sealhulgas 4 sidusettevõtet ja 4 sidusettevõtete
tütarettevõtet. Arvestamata sidusettevõtteid annab Infortar tööd 6466 inimesele.
Lisainfo:
Kadri Laanvee
AS Infortar investorsuhete juht
Tel. 5156662
E-mail: [email protected]
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www.infortar.ee/investorile
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Teate sisu inglise keeles
Pealkiri
Aktsiaselts Infortar 2025 audited Annual Report
Teade
The Supervisory Board of Aktsiaselts Infortar approved the audited annual report
for 2025 and will submit it to the Annual General Meeting for approval.
Major Events
Maritime transport
2025 financial year, Tallink carried 5.5 million passengers, which is down 0.9%
compared to the financial year 2024. The number of cargo units transported
decreased by 19.2% to 245,004 while the number of passenger vehicles was down by
2.2% to 760,473, year-on-year. Cargo vessel Sailor was sold and the charter
agreement of the cruise ferry Silja Europa was extended until the end of January
2027 with the option of extending the agreement for another year.
Energy
In the 2025 financial year, Elenger delivered a total of 18 TWh LNG cargoes to
the Inkoo and Klaip?da terminals (2024: 18 TWh). Market share in the
Finnish-Baltic region reached approximately one quarter. Gas inventories were
stored not only in the Latvian underground gas storage facility, but also in
Poland and Germany. Sales in Estonia at the end of the year accounted for 15% of
the energy sales of the total volume. The company´s market share was 21%.
Real estate and infrastructure
INF Infra continued the construction of Rail Baltica's mainline on the Kangru-
Saku section. The contract value is EUR 67.2 million, and the work is planned to
continue until March 2028. Construction on a commercial space for Depo (DIY
Store) in Lasnamäe continued. The project is scheduled for completion in the
fall of 2026.
Key figures of financial year
+-------------------------------------------+--------------+--------------+
|Key figures |12 months 2025|12 months 2024|
+-------------------------------------------+--------------+--------------+
|Sales revenue. mEUR |1 837.000 |1 371.775 |
+-------------------------------------------+--------------+--------------+
|Gross profit. mEUR |239.842 |128.628 |
+-------------------------------------------+--------------+--------------+
|EBITDA. mEUR |227.919 |145.275 |
+-------------------------------------------+--------------+--------------+
|EBITDA margin (%) |12.4% |10.6% |
+-------------------------------------------+--------------+--------------+
|Operating profit. EBIT. mEUR |109.008 |77.024 |
+-------------------------------------------+--------------+--------------+
|Total profit(-loss). mEUR |69.857 |193.670 |
+-------------------------------------------+--------------+--------------+
|Net profit (-loss) holders of the Parent mEUR|70.550 |191.253 |
+-------------------------------------------+--------------+--------------+
|EPS (euros)1 |3.3 |9.36 |
+-------------------------------------------+--------------+--------------+
|Total equity mEUR |1 175.404 |1 166.221 |
+-------------------------------------------+--------------+--------------+
|Total liabilities mEUR |1 071.353 |1 223.287 |
+-------------------------------------------+--------------+--------------+
|Net debt mEUR |851.582 |1 055.708 |
+-------------------------------------------+--------------+--------------+
|Investment loans to EBITDA (ratio) |3.0x |3.0x |
+-------------------------------------------+--------------+--------------+
(1) Earnings per share (in euros) is calculated as follows: profit/loss
attributable to the owners of the parent, in absolute figures, divided by the
number of shares, excluding own shares.
Revenue
During the 12 months of the 2025 financial year, the Infortar group's
consolidated revenue increased by EUR 465.225 million, reaching EUR 1,837.000
million (consolidated revenue for the 12 months of 2024 amounted to EUR
1,371.775 million). The addition of new companies to the consolidation group
compared to the previous year had a significant positive impact.
EBITDA and Segment Reporting
The 60 percent increase in EBITDA was primarily driven by the full 12-month
consolidation of Tallink Grupp, an approximately EUR 12 million improvement in
Elenger's EBITDA and the contribution from the agriculture segment, including
Estonia Farmid and Halinga.
The Maritime Transport segment's EBITDA amounted to EUR 119.528 million in the
2025 financial year (EUR 175.181 million in the 2024 financial year). Tallink's
2024 results were primarily impacted by the challenging economic environment in
its home markets and the lowest level of consumer confidence in the past decade.
The Energy segment's EBITDA amounted to EUR 89.323 million in the 2025 financial
year (EUR 77.235 million in the 2024 financial year). The profitability of the
Energy segment was positively influenced by the results of network companies.
In the Real Estate segment, profitability is assessed based on the EBITDA of the
separate real estate companies. Real Estate EBITDA totalled EUR 14.748 million
in the 2025 financial year (EUR 14.309 million in the 2024 financial year).
Additionally, the Rimi Logistics Centre was included in the reporting in the
2025 financial year.
Total Profit
The consolidated net profit for the 2025 financial year amounted to EUR 69.857
million (EUR 193.670 million in the 2024 financial year). Excluding the one-off
gain from the Tallink acquisition in 2024, the underlying profitability of the
Group improved in 2025.
Financing
Loan and lease liabilities totalled EUR 1,071.353 million in the 2025 financial
year (EUR 1,223.287 million in the 2024 financial year). The net debt to EBITDA
ratio was 3.0.
Dividends
In accordance with the dividend policy, the objective is to pay dividends of at
least EUR 1 per share per financial year. Dividend payments are made in two
instalments. The Management Board of Infortar Group intends, in coordination
with the Supervisory Board, to propose a dividend of EUR 3.02 per share for the
2025 financial year. According to the proposal, the payments will be made in
July and December 2026.
The dividend consists of three components:
EUR 1 per share, paid in accordance with the dividend policy;
the dividend received from AS Tallink Grupp, 1.48 euros per share;
an additional dividend 0.54 euros per share, paid based on the 2025 financial
results.
The total number of Infortar shares amounts to 21 166 239 from which the
company's own shares shall be deducted.
Consolidated statement of financial position
(in thousands of EUR) 31.12.25 31.12.24
Current assets
Cash and cash equivalents 219 771 167 579
Short-term derivatives 4 732 8 333
Settled derivative receivables 1 823 676
Trade receivables 153 473 155 351
Prepaid taxes 5 659 3 831
Trade and other receivables 38 878 38 517
Prepayments for inventories 476 2 498
Inventories 90 672 215 914
Biological assets 1 545 941
Total current assets 517 029 593 640
Non-current assets
Investments in associates 21 412 16 603
Long-term derivative instruments 1 079 3 214
Long-term loans and other receivables 4 548 9 055
Deferred tax asset 27 100 26 108
Investment property 66 872 67 931
Property, plant and equipment 1 871 970 1 909 458
Intangible assets 37 930 38 874
Right-of-use assets 39 645 47 598
Biological assets 9 022 2 753
Total non-current assets 2 079 578 2 121 594
TOTAL ASSETS 2 596 607 2 715 234
(in thousands of EUR) 31.12.25 31.12.24
Current liabilities
Loan liabilities 338 515 497 162
Lease liabilities 10 029 9 020
Payables to suppliers 123 330 87 941
Tax obligations 44 972 49 354
Buyers' advances 38 621 31 126
Settled derivatives 4 156 8 728
Other current liabilities 69 677 63 431
Short term derivatives 9 552 27 704
Total current liabilities 638 852 774 466
Non-current liabilities
Long-term provisions 8 695 9 946
Deferred taxes 1 894 2 816
Other long-term liabilities 46 028 43 209
Long-term derivatives 2 925 1 471
Loan liabilities 686 187 676 670
Lease liabilities 36 622 40 435
Total non-current liabilities 782 351 774 547
TOTAL LIABILITIES 1 421 203 1 549 013
Equity
Share capital 2 117 2 117
Own shares -790 -72
Share premium 32 484 32 484
Reserve capital 212 212
Option reserve 10 099 6 223
Hedging reserve -7 260 -21 674
Unrealised exchange rate differences 1 167 45
Post-employment benefit obligation reserve -559 -185
Retained earnings from previous periods 884 204 890 167
Total equity attributable to equity holders of the Parent 921 674 909 317
Non-controlling interest(s) 253 730 256 904
Total equity 1 175 404 1 166 221
TOTAL LIABILITIES AND EQUITY 2 596 607 2 715 234
Consolidated statement of profit or loss and other comprehensive income
(in thousands of EUR) 12 months 2025 12 months 2024
Revenue 1 837 000 1 371 775
Cost of goods (goods and services) sold -1 596 485 -1 243 034
Write-down of receivables -673 -113
Gross profit 239 842 128 628
Marketing expenses -46 571 -21 086
General administrative expenses -94 178 -50 438
Profit (loss) from derivative financial
instruments 10 847 26 672
Profit (loss) from biological assets 5 412 -139
Profit (loss) from the change in the fair value
of the investment property -2 868 -949
Profit (loss) from changes in the fair value of
fixed assets -9 265 -8 691
Other operating revenue 10 080 4 682
Other operating expenses -4 291 -1 655
Operating profit 109 008 77 024
Profit (loss) from investments accounted for by
equity method 4 247 22 974
Financial income and expenses
Income from financial investments 19 008 13 392
Other financial investments -2 592 -50
Interest expense -45 749 -38 274
Interest income 3 070 4 979
Profit (loss) from changes in exchange rates 244 100
Gain from bargain purchase 0 93 659
Total financial income and expenses -26 019 73 806
Profit before tax 87 236 173 804
Corporate income tax -17 379 19 866
Profit for the financial year 69 857 193 670
including:
Profit attributable to the owners of the parent
company 70 550 191 253
Profit attributable to non-controlling interest -693 2 417
Other comprehensive income
Items that will not be reclassified to profit or
loss
Revaluation of post-employment benefit
obligations -374 -141
Items that may be subsequently reclassified to
the income statement:
Revaluation of risk hedging instruments 14 414 -45 792
Exchange rate differences attributable to
foreign subsidiaries 1 122 53
Total of other comprehensive income 15 162 -45 880
Total income 85 019 147 790
including:
Comprehensive profit attributable to the owners
of the parent company 85 712 145 373
Comprehensive profit attributable to non-
controlling interest -693 2 417
Ordinary earnings per share (in EUR per share) 3,43 9,36
Diluted earnings per share (in EUR per share) 3,37 9,12
Consolidated statement of cash flows statement
Cash flows from operating activities
12 months 12 months
(in thousands of EUR) 2025 2024
Profit for the financial year 69 857 193 670
Adjustments:
Depreciation, amortisation, and impairment of non-current
assets 118 911 68 251
Fair value adjustment of equity investment -4 247 -22 974
Change in the value of derivatives 3 433 -1 483
Other financial income/expenses -15 585 -112 030
Calculated interest expenses 45 749 38 274
Profit/loss from non-current assets sold -479 -955
Income from grants recognised as revenue -1 791 -643
Corporate income tax expense 17 379 -19 866
Recognition and adjustment of provisions 3 519 -321
Total adjustments 166 889 -51 747
Income tax paid -18 302 -10 551
Change in receivables and prepayments related to operating
activities -195 52 023
Change in inventories 131 377 -12 831
Change in payables and prepayments relating to operating
activities 36 289 -80 954
Change in biological assets -1 944 -322
Total cash flows from operating activities 383 971 89 288
Cash flows from investing activities
Purchases of associates 12 0
Net cash flows on acquisition of subsidiaries -43 881 -111 684
Received dividends 0 20 862
Given loans 4 513 1 918
Interest received 3 043 4 953
Purchases Investment property -3 348 -10 352
Purchases of property, plant and equipment -76 747 -27 835
Proceeds from sale of property 84 584 1 561
Total cash flows used in investing activities -31 824 -120 577
12 months 12 months
Cash flows used in financing activities 2025 2024
Proceeds from targeted financing 4 196 225
Changes in overdraft 1 224 12 863
Proceeds from borrowings 103 379 358 731
Repayments of borrowings -271 067 -151 790
Repayment of finance lease liabilities -13 839 -11 300
Interest paid -46 617 -39 153
Dividends paid -76 513 -60 997
Gain from share emission -718 3 174
Total cash flows used in financing activities -299 955 111 753
Net change in cash and cash equivalents 52 192 80 464
Cash at the beginning of the year 167 579 87 115
Cash at the end of the period 219 771 167 579
Net (decrease)/increase in cash 52 192 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% share in
Tallink Grupp. a 100% share in Elenger Grupp and a versatile and modern real
estate portfolio of approx. 141.000 m(2). In addition to the three main areas of
activity Infortar also operates in agriculture, engineering, construction
minerals, printing sector, services and other areas. A total of 109 companies
belong to the Infortar group, including 4 affiliated companies and 4
subsidiaries of affiliated companies. Excluding affiliates Infortar employs
6466 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
Phone: +372 5156662
e-mail: [email protected]
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