Börsiteade
AS Tallink Grupp
LEI kood
529900QRMWAKKR3L9W75
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Hulgi- ja jaekaubandus, Veondus ja laondus, Majutus ja toitlustus, Haldus- ja abitegevused
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
2897
Manused
Esitamise kuupäev ja aeg
17.01.2011 17:58:30
Teate sisu eesti keeles
Pealkiri
2010/2011 majandusaasta I kvartali majandustulemused
Teade
Tallinn, 2011-01-17 16:58 CET (GLOBE NEWSWIRE) --2010/2011 majandusaasta I kvartali majandustulemused
AS-i Tallink Grupp ja tema tütarettevõtete (edaspidi „Kontsern“) poolt esimese
kvartali jooksul teenindatud reisijate arv kasvas võrreldes möödunud
majandusaasta sama ajaperioodiga 10% võrra 1,99 miljoni reisijani. Veetud
kaubaveoühikute maht kasvas samas ajavahemikus rohkem kui 12% võrra.
Kontserni auditeerimata konsolideeritud müügitulu oli esimeses kvartalis 3 177
miljonit krooni (203 miljonit eurot), mis on ligi 340 miljoni krooni (22
miljoni euro) ehk 12% võrra suurem kui eelmise majandusaasta esimeses
kvartalis.
Kontserni müügitulu märkimisväärne kasv oli tingitud suurenenud reisijate- ja
kaubaveomahtudest. Võrreldes eelnenud aasta esimese kvartaliga suutis Kontsern
kasvatada reisijateveoga seotud müügitulu (piletitulu, poodide- ja restoranide
müügitulu) 268 miljoni krooni (17 miljoni euro) võrra. Vastav müügitulu kasv
ühe reisija kohta oli keskmiselt 1,6%. Mahtude ja müügitulu kasv oli suurem
Eesti-Soome, Eesti-Rootsi ja Läti-Rootsi liinidel, kus pardamüügi marginaalid
ei ole nii kõrged kui Soome-Rootsi liinidel, kus reisijate arvu kasv oli
esimeses kvartalis 2% ning müügitulu kasv oli 5%.
Võrreldes möödunud majandusaasta esimese kvartaliga kasvas Kontserni brutokasum
45 miljoni krooni võrra (2,9 miljoni euro võrra) ulatudes 556 miljoni kroonini
(35,5 miljoni euroni). Kontserni finantskulude, maksude ja kulumieelne kasum
EBITDA kasvas 22 miljoni krooni (0,5 miljoni euro) võrra 430 miljoni kroonini
(27.5 miljoni euroni) ja puhaskasum suurenes 37 miljoni krooni (2,3 miljoni
euro) võrra 18 miljoni kroonini (1.1 miljoni euroni).
Majandusaasta esimeses kvartalis oli Kontserni kõrgendatud rõhuasetus aktiivsel
müügi- ja turundustegevusel koduturgudel. Senisest jõulisema turundustegevuste
käigus suurendati ka reklaamile tehtud kulutusi. Antud planeeritud tegevuste
positiivsed tulemused kajastuvad esimese kvartali märgatavalt kasvanud
reisijatearvus ning on jätkuvalt nähtavad ka äsjaalanud teises kvartalis.
Kontserni investeeringud majandusaasta esimeses kvartalis ulatusid 56 miljoni
kroonini (3,6 miljoni euroni), olles põhiliselt seotud kolme kruiisilaeva -
Romantika, Silja Festivali ja Silja Serenade uuendustöödega laevade plaaniliste
dokiremontide ajal. Samal ajal viidi läbi ka paljud regulaarsed hooldustööd,
mille tulemusel suurenesid esimese kvartali jooksul antud laevadele tehtud
kulutused. Kruiisilaeva Silja Serenade dokis viibimise ajal asendas teda
Soome-Rootsi liinil kruiisilaev Silja Europa, mida omakorda asendas
tavapäraselt Eesti-Rootsi liinil opereeriv kruiisilaev Baltic Queen. Antud
ajutise vahetusega suutis Kontsern säilitada reisijatemahud ning pakkuda
Soome-Rootsi liinide reisijatele uusi ja positiivseid reisielamusi erinevatel
laevadel. Majanduslikust küljest oli laevade ajutine ümberpaigutamine kasumlik,
kuid muudatustega kaasnenud suurematest kuludest tingituna jäi liini rentaablus
siiski madalamaks võrreldes liini tavapärase tulemusega.
Rootsi kroon on euro suhtes märgatavalt tugevnenud. See mõjub positiivselt
Kontserni Rootsi turult saadavale müügitulule. Samal ajal suurendab tugevnenud
kurss ka Rootsi laevapersonali ja kontorikulusid eurovääringus mõõdetuna.
2010/2011 majandusaasta esimese kvartali kütusekulud olid 484 miljonit krooni
(31 miljonit eurot), mis on 78 miljoni krooni (5 miljoni euro) võrra suurem kui
eelmise majandusaasta samal perioodil.
Kontserni esimese kvartali tulemused vastasid juhtkonna ootustele. Mitmed
planeeritud tegevused ning liinidevahelised muudatused avaldasid mõju Kontserni
tulemusele. Kontserni netovõlg alanes allapoole ühe miljardi euro piiri.
Juhtkonna hinnangul on Kontserni 2010/2011 majandusaasta alanud hästi ning
ettevõte liigub tulemuste paranemise suunal.
I kvartali põhinäitajad I kv. 2010/2011 I kv. muutus %
2009/2010
--------------------------------------------------------------------------------
EEK EUR EEK EUR
--------------------------------------------------------------------------------
Müügitulu (miljon) 3 177 203,0 2 837 181,3 12%
--------------------------------------------------------------------------------
Brutokasum(miljon) 556 35,5 511 32,7 9%
--------------------------------------------------------------------------------
Brutokasumi marginaal 17,5% 18,0%
--------------------------------------------------------------------------------
EBITDA (miljon) 430 27,5 422 27,0 2%
--------------------------------------------------------------------------------
EBITDA marginaal 13,5% 14,9%
--------------------------------------------------------------------------------
Puhaskasum/-kahjum (miljon) 18 1,1 -19 -1,2
--------------------------------------------------------------------------------
Puhaskasumi marginaal 0,6% -0,7%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon (miljon) 285 18,2 281 18,0 1%
--------------------------------------------------------------------------------
Investeeringud (miljon) 56 3,6 5 0,4 1020%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv 669 882 040 669 882 040 0%
perioodil*
--------------------------------------------------------------------------------
Aktsiakasum 0,03 0,00 -0,03 -0,00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 1 993 293 1 808 235 10%
--------------------------------------------------------------------------------
Kaubaveo ühikud 76 908 68 334 13%
--------------------------------------------------------------------------------
Keskmine töötajate arv 6 595 6 621 0%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
30.11.2010 31.08.2010
--------------------------------------------------------------------------------
EEK EUR EEK EUR
--------------------------------------------------------------------------------
Varad kokku (miljon) 28 718 1 835 29 280 1 871 -1.9%
--------------------------------------------------------------------------------
Kohustused kokku (miljon) 18 262 1 167 18 832 1 204 -3.0%
--------------------------------------------------------------------------------
Intressi kandvad kohustused (miljon) 16 159 1 033 16 709 1 068 -3.3%
--------------------------------------------------------------------------------
Omakapital kokku (miljon) 10 456 668 10 448 668 0.1%
--------------------------------------------------------------------------------
Omakapitali määr 36% 36%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv* 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta 15,6 1,0 15,6 1,0 0%
--------------------------------------------------------------------------------
EBITDA - finantskulude, maksude, intresside, kulumi eelne kasum;
Aktsiakasum - Puhaskasum / Kaalutud keskmine aktsiate arv;
Omakapitali määr - Omakapital kokku / Varad kokku;
Omakapital aktsia kohta - Omakapital / Aktsiate arv;
Brutokasumi marginaal - Brutokasum / Müügitulu;
EBITDA marginaal - EBITDA / Müügitulu;
Puhaskasumi marginaal - Puhaskasum / Müügitulu;
*Ei sisalda omaaktsiaid.
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes kroonides) 01.09.2010- 01.09.2009-
30.11.2010 30.11.2009
Müügitulu 3,176,964 2,836,833
Müüdud kaupade ja teenuste kulu -2,620,948 -2,325,945
Brutokasum 556,016 510,888
--------------------------------------------------------------------------------
Turustuskulud -252,234 -227,586
Halduskulud -160,160 -146,246
Muud äritulud 1,029 7,072
Muud ärikulud -106 -2,785
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 144,545 141,343
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 96,125 12,729
Finantskulud -223,014 -172,690
Kasum/-kahjum enne tulumaksu 17,656 -18,618
--------------------------------------------------------------------------------
Tulumaks 0 0
Aruandeperioodi puhaskasum/-kahjum 17,656 -18,618
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Valuutakursi vahed välisettevõtetest -577 -11,452
Riskimaandamise instrumentide õiglase väärtuse muutus -8,669 17,993
Perioodi muu koondkasum/-kahjum kokku -9,246 6,541
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum kokku 8,410 -12,077
--------------------------------------------------------------------------------
Sh.
--------------------------------------------------------------------------------
Emaettevõtte omanike osa puhaskasumist/-kahjumist 17,656 -18,618
--------------------------------------------------------------------------------
Sh.
--------------------------------------------------------------------------------
Emaettevõtte omanike osa koondkasumist/-kahjumist 8,410 -12,077
Kasum/-kahjum aktsia kohta (EEK-ides ühe aktsia kohta)
- tava 0.03 -0.03
- lahustatud 0.03 -0.03
--------------------------------------------------------------------------------
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes eurodes) 01.09.2010- 01.09.2009-
30.11.2010 30.11.2009
Müügitulu 203,045 181,307
Müüdud kaupade ja teenuste kulu -167,509 -148,655
Brutokasum 35,536 32,652
--------------------------------------------------------------------------------
Turustuskulud -16,121 -14,545
Halduskulud -10,236 -9,347
Muud äritulud 66 452
Muud ärikulud -7 -178
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 9,238 9,034
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 6,143 813
Finantskulud -14,253 -11,037
Kasum/-kahjum enne tulumaksu 1,128 -1,190
--------------------------------------------------------------------------------
Tulumaks 0 0
Aruandeperioodi puhaskasum/-kahjum 1,128 -1,190
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Valuutakursi vahed välisettevõtetest -37 -731
Riskimaandamise instrumentide õiglase väärtuse muutus -554 1,150
Perioodi muu koondkasum/-kahjum kokku -591 419
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum kokku 537 -771
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
--------------------------------------------------------------------------------
Emaettevõtte omanike osa puhaskasumist/-kahjumist 1,128 -1,190
--------------------------------------------------------------------------------
Sh.
--------------------------------------------------------------------------------
Emaettevõtte omanike osa koondkasumist/-kahjumist 537 -771
Kasum/-kahjum aktsia kohta (EUR-ides ühe aktsia kohta)
- tava 0.00 0.00
- lahustatud 0.00 0.00
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes kroonides)
VARAD 30.11.2010 31.08.2010
Käibevara
Raha ja raha ekvivalendid 654,703 899,494
----------------------------------------------------------------------
Nõuded ostjate vastu ja muud nõuded 551,822 657,788
Ettemaksed 162,972 152,582
Tuletisinstrumendid 2,363 11,032
Varud 329,271 313,483
Käibevara kokku 1,701,131 2,034,379
----------------------------------------------------------------------
Põhivara
Investeeringud sidusettevõtetesse 3,343 3,343
----------------------------------------------------------------------
Muud finantsvarad 4,957 4,957
Edasilükkunud tulumaksuvara 166,860 166,851
Kinnisvarainvesteering 4,694 4,694
Materiaalne põhivara 25,810,241 26,021,867
Immateriaalne põhivara 1,026,799 1,043,627
----------------------------------------------------------------------
Põhivara kokku 27,016,894 27,245,339
----------------------------------------------------------------------
----------------------------------------------------------------------
VARAD KOKKU 28,718,025 29,279,718
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Intressikandvad võlakohustused 998,594 995,554
----------------------------------------------------------------------
Võlad tarnijatele ja muud võlad 1,410,593 1,471,620
Ettemakstud tulud 448,986 374,976
Tuletisinstrumendid 241,974 275,912
Lühiajalised kohustused kokku 3,100,147 3,118,062
----------------------------------------------------------------------
Pikaajalised kohustused
----------------------------------------------------------------------
Intressikandvad võlakohustused 15,160,855 15,712,996
----------------------------------------------------------------------
Muud kohustused 1,111 1,158
----------------------------------------------------------------------
Pikaajalised kohustused kokku 15,161,966 15,714,154
----------------------------------------------------------------------
Kohustused kokku 18,262,113 18,832,216
----------------------------------------------------------------------
OMAKAPITAL
----------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
----------------------------------------------------------------------
Aktsiakapital nimiväärtuses 6,738,170 6,738,170
----------------------------------------------------------------------
Ülekurss 9,999 9,999
Reservid 1,126,806 1,136,052
Jaotamata kasum 2,580,937 2,563,281
----------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 10,455,912 10,447,502
----------------------------------------------------------------------
OMAKAPITAL KOKKU 10,455,912 10,447,502
----------------------------------------------------------------------
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 28,718,025 29,279,718
----------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 30.11.2010 31.08.2010
Käibevara
Raha ja raha ekvivalendid 41,843 57,488
----------------------------------------------------------------------
Nõuded ostjate vastu ja muud nõuded 35,268 42,040
Ettemaksed 10,415 9,752
Tuletisinstrumendid 151 705
Varud 21,044 20,035
Käibevara kokku 108,721 130,020
----------------------------------------------------------------------
Põhivara
Investeeringud sidusettevõtetesse 214 214
----------------------------------------------------------------------
Muud finantsvarad 317 317
Edasilükkunud tulumaksuvara 10,664 10,664
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,649,575 1,663,100
Immateriaalne põhivara 65,625 66,700
----------------------------------------------------------------------
Põhivara kokku 1,726,695 1,741,295
----------------------------------------------------------------------
----------------------------------------------------------------------
VARAD KOKKU 1,835,416 1,871,315
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Intressikandvad võlakohustused 63,822 63,627
----------------------------------------------------------------------
Võlad tarnijatele ja muud võlad 90,153 94,054
Ettemakstud tulud 28,696 23,965
Tuletisinstrumendid 15,465 17,634
Lühiajalised kohustused kokku 198,136 199,280
----------------------------------------------------------------------
Pikaajalised kohustused
----------------------------------------------------------------------
Intressikandvad võlakohustused 968,955 1,004,244
----------------------------------------------------------------------
Muud kohustused 71 74
----------------------------------------------------------------------
Pikaajalised kohustused kokku 969,026 1,004,318
----------------------------------------------------------------------
Kohustused kokku 1,167,162 1,203,598
----------------------------------------------------------------------
OMAKAPITAL
----------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
----------------------------------------------------------------------
Aktsiakapital nimiväärtuses 430,648 430,648
----------------------------------------------------------------------
Ülekurss 639 639
Reservid 72,016 72,607
Jaotamata kasum 164,951 163,823
----------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 668,254 667,717
----------------------------------------------------------------------
OMAKAPITAL KOKKU 668,254 667,717
----------------------------------------------------------------------
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,835,416 1,871,315
----------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes kroonides) 01.09.2010- 01.09.2009-
30.11.2010 30.11.2009
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 17,656 -18,618
Korrigeerimised 422,313 392,982
Äritegevusega seotud varade muutused 79,682 114,741
Äritegevusega seotud kohustuste muutused 32,440 5,706
Makstud tulumaks -146 -70
--------------------------------------------------------------------------------
551,945 494,741
--------------------------------------------------------------------------------
Rahavood investeerimistegevusest
--------------------------------------------------------------------------------
Materiaalse põhivara ja immateriaalse põhivara -56,308 -5,490
soetamine
Laekumised materiaalse põhivara müügist 67 99,721
Sidusettevõtete aktsiate soetamine 0 -9,180
Maksed tuletisinstrumentidest -19,863 -14,955
Saadud intressid 430 2,289
--------------------------------------------------------------------------------
-75,674 72,385
--------------------------------------------------------------------------------
Rahavood finantseerimistegevusest
--------------------------------------------------------------------------------
Laenude tagasimaksed -560,232 -573,688
Kasutatud arvelduskrediidi muutus 0 5,136
Kapitalirendi põhimaksete tasumine -360 -2,005
Makstud intressid -160,470 -136,426
-721,062 -706,983
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU -244,791 -139,857
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid
- perioodi alguses 899,494 782,043
- suurenemine (+) / vähenemine (--) -244,791 -139,857
--------------------------------------------------------------------------------
- perioodi lõpus 654,703 642,186
--------------------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.09.2010- 01.09.2009-
30.11.2010 30.11.2009
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 1,128 -1,190
Korrigeerimised 26,991 25,116
Äritegevusega seotud varade muutused 5,093 7,333
Äritegevusega seotud kohustuste muutused 2,073 365
Makstud tulumaks -9 -4
--------------------------------------------------------------------------------
35,276 31,620
--------------------------------------------------------------------------------
Rahavood investeerimistegevusest
--------------------------------------------------------------------------------
Materiaalse põhivara ja immateriaalse põhivara -3,599 -351
soetamine
Laekumised materiaalse põhivara müügist 4 6,373
Sidusettevõtete aktsiate soetamine 0 -587
Maksed tuletisinstrumentidest -1,269 -955
Saadud intressid 27 146
--------------------------------------------------------------------------------
-4,837 4,626
--------------------------------------------------------------------------------
Rahavood finantseerimistegevusest
--------------------------------------------------------------------------------
Laenude tagasimaksed -35,805 -36,665
Kasutatud arvelduskrediidi muutus 0 328
Kapitalirendi põhimaksete tasumine -23 -129
Makstud intressid -10,256 -8,719
-46,084 -45,185
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU -15,645 -8,939
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid
- perioodi alguses 57,488 49,982
- suurenemine (+) / vähenemine (--) -15,645 -8,939
--------------------------------------------------------------------------------
- perioodi lõpus 41,843 41,043
--------------------------------------------------------------------------------
Janek Stalmeister
Juhatuse liige
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]
Teate sisu inglise keeles
Pealkiri
Q1 results of the 2010/2011 financial year
Teade
Tallinn, 2011-01-17 16:58 CET (GLOBE NEWSWIRE) --Q1 results of the 2010/2011 financial year
Passenger volume transported by the Group's (AS Tallink Grupp and its
subsidiaries') vessels in the first quarter (01.09.2010-30.11.2010) increased
by 10% to 1.99 million passengers compared to the first quarter of the previous
financial year. The number of transported cargo units increased more than 12%
in the same period.
The Group's unaudited consolidated revenue in the first quarter of the
2010/2011 financial year was EEK 3 177 million (EUR 203 million) which is
nearly EEK 340 million (EUR 22 million) or 12% higher compared to the first
quarter of the previous financial year.
The noticeable increase in the Group revenues was influenced by the stronger
passenger and cargo volumes. The Group was able to increase the passenger
related revenues (ticket, shops & restaurants sales) by EEK 268 million (EUR 17
million) compared to the last year. The respective revenue increase per
passenger was 1.6%. It shall be noted that the volume and revenue growth was
higher in the Estonia-Finland, Estonia-Sweden and Latvia-Sweden routes where
the margins on the onboard spending are not as high as in the Finland-Sweden
routes where the volume growth in the first quarter was 2% and revenue growth
5%.
Compared to the first quarter of the previous financial year the Group's gross
profit in the first quarter of the 2010/2011 financial year increased by EEK 45
million (EUR 2.9 million) to a total of EEK 556 million (EUR 35.5 million). The
Group's EBITDA amounted to EEK 430 million (EUR 27.5 million) an increase of
EEK 22 million (EUR 0.5 million) and the net profit was EEK 18 million (EUR 1.1
million) an increase of EEK 37 million (EUR 2.3 million) year on year.
One of the main focus areas in the Group's operations during the first quarter
was to increase the sales and marketing activities in home markets. Hence a
more aggressive advertising approach was taken whereby the advertisement
spending was also increased. The positive result of these planned actions can
be noticed in the strongly increased passenger volumes in the first quarter.
The growth is visible and continues also in the beginning of the second
quarter.
In the first quarter the Group's investments amounted to EEK 56 million (EUR
3.6 million) mainly related to the upgrading works of three cruise ferries
Romantika, Silja Festival and Silja Serenade that were in the scheduled dry
dock during the period. At the same time many of the recurring maintenance
works were also done which had increased cost impact on those vessels in the
first quarter. During the docking of the cruise ferry Silja Serenade her
operations in the Finland-Sweden route were replaced with the cruise ferry
Silja Europa which in turn was replaced by the cruise ferry Baltic Queen from
Estonia-Sweden route. By the switch of the vessels the Group was able to
maintain the passenger volume and to provide the passengers with a great new
experience of the different vessels on the Finland-Sweden routes. From the
economical point the rerouting of the vessels was beneficial, but given the
additional maintenance costs the profit conversion was at the lower margin than
compared to the normal operation on that route.
The Swedish krona has strengthened noticeably against the euro. This is good
for the revenues which the Group is receiving from the Swedish market area but
the stronger exchange rate increases also the Swedish crew and office costs in
euro terms. The fuel costs in the first quarter of the 2010/2011 were EEK 484
million (EUR 31 million) which is EEK 78 million (EUR 5 million) higher
compared to the first quarter of the previous financial year.
The Group's first quarter result meets the management expectations. Several
planned activities and structural changes between the routes had some influence
to the earnings. The Group's net debt decreased to below the EUR 1 billion
level. In the management opinion the Group's development in the 2010/2011
financial year has started off well and the Group is on the track to improve
the results in the current financial year.
Q1 KEY FIGURES Q1 2010/2011 Q1 2009/2010 Change
%
--------------------------------------------------------------------------------
EEK EUR EEK EUR
--------------------------------------------------------------------------------
Net sales (million) 3 177 203.0 2 837 181.3 12%
--------------------------------------------------------------------------------
Gross profit (million) 556 35.5 511 32.7 9%
--------------------------------------------------------------------------------
Gross margin 17.5% 18.0%
--------------------------------------------------------------------------------
EBITDA (million) 430 27.5 422 27.0 2%
--------------------------------------------------------------------------------
EBITDA margin 13.5% 14.9%
--------------------------------------------------------------------------------
Net profit/-loss (million) 18 1.1 -19 -1.2
--------------------------------------------------------------------------------
Net profit margin 0.6% -0.7%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation & amort. (million) 285 18.2 281 18.0 1%
--------------------------------------------------------------------------------
Investments (million) 56 3.6 5 0.4 1020%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of ordinary 669 882 040 669 882 040 0%
shares outstanding during Q1*
--------------------------------------------------------------------------------
Earnings per share 0.03 0.00 -0.03 -0.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 1 993 293 1 808 235 10%
--------------------------------------------------------------------------------
Cargo units 76 908 68 334 13%
--------------------------------------------------------------------------------
Average number of employees 6 595 6 621 0%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
30.11.2010 31.08.2010
--------------------------------------------------------------------------------
EEK EUR EEK EUR
--------------------------------------------------------------------------------
Total assets (million) 28 718 1 835 29 280 1 871 -1.9%
--------------------------------------------------------------------------------
Total liabilities (million) 18 262 1 167 18 832 1 204 -3.0%
--------------------------------------------------------------------------------
Interest-bearing liabilities (million) 16 159 1 033 16 709 1 068 -3.3%
--------------------------------------------------------------------------------
Total equity (million) 10 456 668 10 448 668 0.1%
--------------------------------------------------------------------------------
Equity ratio 36% 36%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of ordinary shares outstanding* 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Shareholders' equity per share 15.6 1.0 15.6 1.0 0%
--------------------------------------------------------------------------------
Net profit margin - net profit / net sales;
EBITDA - Earnings before net financial items, taxes, depreciation and
amortization;
EBITDA margin - EBITDA / net sales;
Gross margin - gross profit / net sales;
Net profit margin - net profit / net sales;
Equity ratio - total equity / total assets;
Earnings per share - net profit / weighted average number of shares outstanding;
Shareholder's equity per share - shareholder's equity / number of shares
outstanding.
* Share numbers exclude own shares.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of EEK) 01.09.2010- 01.09.2009-
30.11.2010 30.11.2009
Revenue 3,176,964 2,836,833
Cost of sales -2,620,948 -2,325,945
Gross profit 556,016 510,888
--------------------------------------------------------------------------------
Marketing expenses -252,234 -227,586
Administrative expenses -160,160 -146,246
Other income 1,029 7,072
Other expenses -106 -2,785
--------------------------------------------------------------------------------
Results from operating activities 144,545 141,343
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 96,125 12,729
Finance costs -223,014 -172,690
Profit/-loss before income tax 17,656 -18,618
--------------------------------------------------------------------------------
Income tax 0 0
Net profit/-loss for the period 17,656 -18,618
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income/-expense
Exchange differences on translating foreign operations -577 -11,452
Changes in fair value of cash flow hedges -8,669 17,993
Other comprehensive income/-expense for the period -9,246 6,541
--------------------------------------------------------------------------------
Total comprehensive income/-expense for the period 8,410 -12,077
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit/-loss attributable to:
--------------------------------------------------------------------------------
Equity holders of the parent 17,656 -18,618
--------------------------------------------------------------------------------
Total comprehensive income/-expense attributable to:
--------------------------------------------------------------------------------
Equity holders of the parent 8,410 -12,077
Earnings per share (in EEK per share)
- basic 0.03 -0.03
- diluted 0.03 -0.03
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of EUR) 01.09.2010- 01.09.2009-
30.11.2010 30.11.2009
Revenue 203,045 181,307
Cost of sales -167,509 -148,655
Gross profit 35,536 32,652
--------------------------------------------------------------------------------
Marketing expenses -16,121 -14,545
Administrative expenses -10,236 -9,347
Other income 66 452
Other expenses -7 -178
--------------------------------------------------------------------------------
Results from operating activities 9,238 9,034
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 6,143 813
Finance costs -14,253 -11,037
Profit/-loss before income tax 1,128 -1,190
--------------------------------------------------------------------------------
Income tax 0 0
Net profit/-loss for the period 1,128 -1,190
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income/-expense
Exchange differences on translating foreign operations -37 -731
Changes in fair value of cash flow hedges -554 1,150
Other comprehensive income/-expense for the period -591 419
--------------------------------------------------------------------------------
Total comprehensive income/-expense for the period 537 -771
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit/-loss attributable to:
--------------------------------------------------------------------------------
Equity holders of the parent 1,128 -1,190
--------------------------------------------------------------------------------
Total comprehensive income/-expense attributable to:
--------------------------------------------------------------------------------
Equity holders of the parent 537 -771
Earnings per share (in EUR per share)
- basic 0.00 0.00
- diluted 0.00 0.00
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EEK)
ASSETS 30.11.2010 31.08.2010
Current assets
Cash and cash equivalents 654,703 899,494
--------------------------------------------------------------------------------
Trade and other receivables 551,822 657,788
Prepayments 162,972 152,582
Derivatives 2,363 11,032
Inventories 329,271 313,483
Total current assets 1,701,131 2,034,379
--------------------------------------------------------------------------------
Non-current assets
Investments in associates 3,343 3,343
--------------------------------------------------------------------------------
Other financial assets 4,957 4,957
Deferred income tax assets 166,860 166,851
Investment property 4,694 4,694
Property, plant and equipment 25,810,241 26,021,867
Intangible assets 1,026,799 1,043,627
--------------------------------------------------------------------------------
Total non-current assets 27,016,894 27,245,339
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL ASSETS 28,718,025 29,279,718
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
Current liabilities
Interest bearing loans and borrowings 998,594 995,554
--------------------------------------------------------------------------------
Trade and other payables 1,410,593 1,471,620
Deferred income 448,986 374,976
Derivatives 241,974 275,912
Total current liabilities 3,100,147 3,118,062
--------------------------------------------------------------------------------
Non-current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 15,160,855 15,712,996
--------------------------------------------------------------------------------
Other liabilities 1,111 1,158
--------------------------------------------------------------------------------
Total non-current liabilities 15,161,966 15,714,154
--------------------------------------------------------------------------------
TOTAL LIABILITIES 18,262,113 18,832,216
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
Share capital 6,738,170 6,738,170
--------------------------------------------------------------------------------
Share premium 9,999 9,999
Reserves 1,126,806 1,136,052
Retained earnings 2,580,937 2,563,281
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 10,455,912 10,447,502
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 10,455,912 10,447,502
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 28,718,025 29,279,718
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
ASSETS 30.11.2010 31.08.2010
Current assets
Cash and cash equivalents 41,843 57,488
--------------------------------------------------------------------------------
Trade and other receivables 35,268 42,040
Prepayments 10,415 9,752
Derivatives 151 705
Inventories 21,044 20,035
Total current assets 108,721 130,020
--------------------------------------------------------------------------------
Non-current assets
Investments in associates 214 214
--------------------------------------------------------------------------------
Other financial assets 317 317
Deferred income tax assets 10,664 10,664
Investment property 300 300
Property, plant and equipment 1,649,575 1,663,100
Intangible assets 65,625 66,700
--------------------------------------------------------------------------------
Total non-current assets 1,726,695 1,741,295
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL ASSETS 1,835,416 1,871,315
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
Current liabilities
Interest bearing loans and borrowings 63,822 63,627
--------------------------------------------------------------------------------
Trade and other payables 90,153 94,054
Deferred income 28,696 23,965
Derivatives 15,465 17,634
Total current liabilities 198,136 199,280
--------------------------------------------------------------------------------
Non-current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 968,955 1,004,244
--------------------------------------------------------------------------------
Other liabilities 71 74
--------------------------------------------------------------------------------
Total non-current liabilities 969,026 1,004,318
--------------------------------------------------------------------------------
TOTAL LIABILITIES 1,167,162 1,203,598
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
Share capital 430,648 430,648
--------------------------------------------------------------------------------
Share premium 639 639
Reserves 72,016 72,607
Retained earnings 164,951 163,823
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 668,254 667,717
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 668,254 667,717
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,835,416 1,871,315
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EEK) 01.09.2010 - 01.09.2009 -
30.11.2010 30.11.2009
Cash flows from operating activities
Net profit/-loss for the period 17,656 -18,618
Adjustments 422,313 392,982
Changes in assets related to operating activities 79,682 114,741
Changes in liabilities related to operating 32,440 5,706
activities
Income tax paid -146 -70
--------------------------------------------------------------------------------
551,945 494,741
--------------------------------------------------------------------------------
Cash flow used for investing activities
--------------------------------------------------------------------------------
Purchase of property, plant and equipment and -56,308 -5,490
intangible assets
Proceeds from disposals of property, plant and 67 99,721
equipment
Issue of shares by associates 0 -9,180
Payments from settlement of derivatives -19,863 -14,955
Interest received 430 2,289
--------------------------------------------------------------------------------
-75,674 72,385
--------------------------------------------------------------------------------
Cash flow from (+)/ used for (--) financing
activities
--------------------------------------------------------------------------------
Redemption of loans -560,232 -573,688
Change in overdraft 0 5,136
Repayment of finance lease liabilities -360 -2,005
Interest paid -160,470 -136,426
-721,062 -706,983
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW -244,791 -139,857
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Cash and cash equivalents:
- at the beginning of period 899,494 782,043
- increase (+) / decrease (--) -244,791 -139,857
--------------------------------------------------------------------------------
Cash and cash equivalents at end of period 654,703 642,186
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EUR) 01.09.2010 - 01.09.2009 -
30.11.2010 30.11.2009
Cash flows from operating activities
Net profit/-loss for the period 1,128 -1,190
Adjustments 26,991 25,116
Changes in assets related to operating activities 5,093 7,333
Changes in liabilities related to operating 2,073 365
activities
Income tax paid -9 -4
--------------------------------------------------------------------------------
35,276 31,620
--------------------------------------------------------------------------------
Cash flow used for investing activities
--------------------------------------------------------------------------------
Purchase of property, plant and equipment and -3,599 -351
intangible assets
Proceeds from disposals of property, plant and 4 6,373
equipment
Issue of shares by associates 0 -587
Payments from settlement of derivatives -1,269 -955
Interest received 27 146
--------------------------------------------------------------------------------
-4,837 4,626
--------------------------------------------------------------------------------
Cash flow from (+)/ used for (--) financing
activities
--------------------------------------------------------------------------------
Redemption of loans -35,805 -36,665
Change in overdraft 0 328
Repayment of finance lease liabilities -23 -129
Interest paid -10,256 -8,719
-46,084 -45,185
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW -15,645 -8,939
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Cash and cash equivalents:
- at the beginning of period 57,488 49,982
- increase (+) / decrease (--) -15,645 -8,939
--------------------------------------------------------------------------------
Cash and cash equivalents at end of period 41,843 41,043
--------------------------------------------------------------------------------
Janek Stalmeister
Financial Director
AS Tallink Grupp
Tel. +372 6409 800
e-mail: [email protected]