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
3419
Manused
Esitamise kuupäev ja aeg
15.07.2011 09:40:00
Teate sisu eesti keeles
Pealkiri
2010/2011 majandusaasta III kvartali majandustulemused
Teade
Tallinn, 2011-07-15 08:40 CEST (GLOBE NEWSWIRE) --
2010/2011 majandusaasta III kvartali majandustulemused
2010/2011 majandusaasta kolmandas kvartalis (01.03.2011-31.05.2011) jätkus AS-i
Tallink Grupp ja tema tütarettevõtete (edaspidi „Kontsern“) müügitulu kasv,
millele avaldas mõju suurenenud tulu reisija kohta ning kaubaveoteenuste müügi
kasv. Samal ajal oli kasv tuntav ka kulude osas. Kvartal algas raskete
jääoludega märtsis ning märkimisväärselt kasvanud kütusehind domineeris kogu
kvartali jooksul.
Kontsern teenindas kolmandas kvartalis kokku 2 098 356 reisijat, mida on 2,7%
vähem kui eelmisel majandusaastal samal ajal. Reisijate arvu langusele avaldas
mõju kampaaniate ja pakkumiste taktika erinevus teise ja kolmanda kvartali
kuude vahel. Käesoleva majandusaasta üheksa kuu kokkuvõttes on Kontsern
teenindanud 9% rohkem reisijaid võrreldes eelmise sama perioodiga. Samuti on
neljanda kvartali kõrghooaeg alanud tugeva 10% reisijate arvu kasvuga.
Kaubavedudes jätkus positiivne areng ka kolmandas kvartalis. Tulenevalt
põhiliselt regiooni majanduste kasvust, suurenes Kontserni veetud kaubaühikute
arv antud perioodil 76 366 ühikuni, mida on 11% rohkem kui aasta tagasi.
Kontserni auditeerimata konsolideeritud müügitulu 2010/2011 majandusaasta
kolmandas kvartalis oli 209,5 miljonit eurot, mida on 7,1 miljonit eurot ehk
3,5% rohkem kui eelmise majandusaasta kolmandas kvartalis. Võrreldes eelnenud
majandusaastaga kasvas kaubaveoteenuste müük 4,2 miljonit eurot ehk 17,1% ning
piletitulu 2,6 miljonit eurot ehk 5,2%. Piletitulu reisija kohta suurenes 1,9
euro võrra ning restoranide ja poodide tulu reisija kohta 1,1 euro võrra, mis
on vastavalt 8,1% ja 2,0% rohkem kui aasta tagasi.
Siiski ei ületanud Kontserni müügitulude kasv majandusaasta kolmandas kvartalis
sama perioodi kulude kasvu, mille tulemusena suurenes kahjum Kontserni
tegevusest kolmandas kvartalis võrreldes eelmise majandusaasta sama kvartaliga.
Kõige enam mõju kulude kasvule avaldas suur kütusehinna tõus. Kontserni poolt
kasutatav laevakütuse hind tuleneb 1 protsendilise väävlisisaldusega kütteõli
(1% Fuel Oil) hinnast maailmaturul, mis kolmandas kvartalis oli keskmiselt 33%
kallim kui mullu samal perioodil.
Kontserni kütusekulud suurenesid 2010/2011 majandusaasta kolmandas kvartalis
võrreldes eelmise majandusaasta kolmanda kvartaliga 10,3 miljoni euro võrra.
Alates 2011. aasta juunist lisati reisijapiletitele kütuse lisatasu, mis koos
juba varem eksisteerinud kütuse lisatasusüsteemiga kaubaveos peaks mõnevõrra
suuremas mahus kompenseerima kütusekulude tõusu neljandas kvartalis ja
edaspidi.
Kütusekulu tõusu mõju tulemustele III kv. 9 kuud
miljonites eurodes
Müügitulu muutus +7,1 +59,6
--------------------------------------------------
Ärikasumi muutus enne kütusekulu +3.1 +22.1
--------------------------------------------------
--------------------------------------------------
Kütusekulu muutus -10.3 -21.1
--------------------------------------------------
Ärikasumi muutus -7.2 +1
--------------------------------------------------
Kontserni müügi- ja turundustegevused on käesoleval majandusaastal mänginud
olulist osa üldise reisijatearvu ning käibe kasvu saavutamisel. Kolmandas
kvartalis suurenesid Kontserni turunduskulud 2,8 miljoni euro võrra peamiselt
kõrghooajaks valmistumise tegevuste tulemusel, mille positiivne mõju on
osaliselt juba nähtav juuni reisijate numbri kasvu näol.
Kontserni finantstulude ja -kulude, maksude ning kulumi eelne kasum (EBITDA)
oli 2010/2011 majandusaasta kolmandas kvartalis 22,7 miljonit eurot, mis on 7,2
miljoni euro ehk 24% võrra väiksem kui eelmise majandusaasta kolmandas
kvartalis. Käesoleva majandusaasta üheksa esimese kuuga oli Kontserni EBITDA
68,4 miljonit eurot ehk 1 miljoni euro võrra suurem kui aasta tagasi. Kontserni
kolmanda kvartali auditeerimata konsolideeritud puhaskahjum oli 7,3 miljonit
eurot võrreldes 3,0 miljoni eurose puhaskahjumiga eelmisel aastal. Käesoleva
majandusaasta esimese üheksa kuuga on Kontserni puhaskahjum 15,6 miljonit
eurot. Eelmise majandusaasta samal perioodil oli puhaskahjum 20,6 miljonit
eurot.
Kontserni kolmanda kvartali tulude kasv vastas juhtkonna ootustele, kuid
kütusekulu märkimisväärne suurenemine kahandas loodetud lõpptulemust.
PÕHINÄITAJAD III kv. III kv. 2009/2010 muutus
2010/2011
--------------------------------------------------------------------------------
Müügitulu milj. EUR 209,5 202,4 3%
--------------------------------------------------------------------------------
Brutokasum milj. EUR 30,2 36,8 -18%
--------------------------------------------------------------------------------
Brutokasumi marginaal 14% 18%
--------------------------------------------------------------------------------
EBITDA milj. EUR 22,7 30,0 -24%
--------------------------------------------------------------------------------
EBITDA marginaal 11% 15%
--------------------------------------------------------------------------------
Puhaskasum / -kahjum milj. EUR -7,3 -3,0 -144%
--------------------------------------------------------------------------------
Puhaskasumi marginaal -3,5% -1,5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon milj. EUR 17,8 17,9 -0%
--------------------------------------------------------------------------------
Investeeringud milj. EUR 4,0 1,3 308%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv* 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Aktsiakasum EUR -0,01 -0,00 -144%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 2 098 356 2 156 448 -3%
--------------------------------------------------------------------------------
Kaubaveo ühikute arv 76 366 68 991 11%
--------------------------------------------------------------------------------
Töötajate keskmine arv 6 676 6 429 4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
31.05.2011 28.02.2011
--------------------------------------------------------------------------------
Varad milj. EUR 1 827 1 822 0,3%
--------------------------------------------------------------------------------
Kohustused milj. EUR 1 175 1 163 1,1%
--------------------------------------------------------------------------------
Intressi kandvad milj. EUR 1 034 1 033 0,1%
kohustused
--------------------------------------------------------------------------------
Omakapital kokku milj. EUR 651 659 -1,1%
--------------------------------------------------------------------------------
Omakapitali määr 36% 36%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv* 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta EUR 1,0 1,0
--------------------------------------------------------------------------------
EBITDA - finantstulude ja -kulude, maksude, 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.
Juhtkonna hinnangul jätkub majandusaasta neljandas kvartalis müügitulude kasv.
Kõrgetel tasemetel püsinud kütusehind toob kaasa eelmisest aastast märgatavalt
suurema kütusekulu käesoleva majandusaasta neljandas kvartalis. Käesoleva
majandusaasta 12-kuu kokkuvõttes ootab juhtkond Kontserni tulemuste paranemist
võrreldes eelmise majandusaastaga.
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.03.2011- 01.03.2010- 01.09.2010- 01.09.2009-
eurodes)
31.05.2011 31.05.2010 31.05.2011 31.05.2010
================================================================================
Müügitulu 209,489 202,416 601,312 541,709
Müüdud kaupade ja teenuste -179,241 -165,604 -511,517 -457,704
kulu
Brutokasum 30,248 36,812 89,795 84,005
--------------------------------------------------------------------------------
Turustuskulud -15,935 -13,140 -45,808 -40,107
Halduskulud -9,551 -10,169 -29,948 -29,500
Muud äritulud 167 263 486 790
Muud ärikulud -8 -1,656 -25 -1,694
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 4,921 12,110 14,500 13,494
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 1,748 -1,817 10,091 5,354
Finantskulud -14,018 -13,312 -40,156 -39,332
Kahjumi osa sidusettevõttest 0 0 -57 0
Kasum/-kahjum enne tulumaksu -7,349 -3,019 -15,622 -20,484
--------------------------------------------------------------------------------
Tulumaks 0 0 0 0
Aruandeperioodi -7,349 -3,019 -15,622 -20,484
puhaskasum/-kahjum
--------------------------------------------------------------------------------
----------------------------- ------------
Muu koondkasum/-kahjum
Valuutakursi vahed 234 -239 54 493
välisettevõtetest
Riskimaandamise 0 -104 -705 1,015
instrumentide õiglase
väärtuse muutus
Perioodi muu 234 -343 -651 1,508
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum -7,115 -3,362 -16,273 -18,976
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
Emaettevõtte omanike osa -7,349 -3,019 -15,622 -20,484
puhaskasumist/-kahjumist
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
Emaettevõtte omanike osa -7,115 -3,362 -16,273 -18,976
koondkasumist/-kahjumist
Kasum/-kahjum aktsia kohta
(EUR-ides ühe aktsia kohta)
- tava -0.01 -0.00 -0.02 -0.03
- lahustatud -0.01 -0.00 -0.02 -0.03
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 31.05.2011 31.08.2010
======================================================================
Käibevara
----------------------------------------------------------------------
Raha ja raha ekvivalendid 49,637 57,488
Nõuded ostjate vastu ja muud nõuded 42,341 42,040
Ettemaksed 14,314 9,752
Tuletisinstrumendid 0 705
Varud 24,840 20,035
Käibevara kokku 131,132 130,020
----------------------------------------------------------------------
Põhivara
----------------------------------------------------------------------
Investeeringud sidusettevõtetesse 157 214
Muud finantsvarad 322 317
Edasilükkunud tulumaksuvara 10,664 10,664
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,620,717 1,663,100
Immateriaalne põhivara 63,505 66,700
-----------------------------------------------
Põhivara kokku 1,695,665 1,741,295
----------------------------------------------------------------------
-----------------------------------------------
VARAD KOKKU 1,826,797 1,871,315
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
======================================================================
Lühiajalised kohustused
----------------------------------------------------------------------
Intressikandvad võlakohustused 118,204 63,627
Võlad tarnijatele ja muud võlad 94,216 94,054
Ettemakstud tulud 32,979 23,965
Tuletisinstrumendid 13,889 17,634
Lühiajalised kohustused kokku 259,288 199,280
----------------------------------------------------------------------
Pikaajalised kohustused
-----------------------
----------------------------------------------------------------------
Intressikandvad võlakohustused 916,000 1,004,244
Muud kohustused 65 74
----------------------------------------------------------------------
Pikaajalised kohustused kokku 916,065 1,004,318
----------------------------------------------------------------------
Kohustused kokku 1,175,353 1,203,598
----------------------------------------------------------------------
OMAKAPITAL
----------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
----------------------------------------------------------------------
----------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404,291 430,648
Ülekurss 639 639
Reservid 73,049 72,607
Jaotamata kasum 173,465 163,823
----------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 651,444 667,717
----------------------------------------------------------------------
OMAKAPITAL KOKKU 651,444 667,717
----------------------------------------------------------------------
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,826,797 1,871,315
----------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.09.2010 - 01.09.2009 -
31.05.2011 31.05.2010
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum -15,622 -20,484
Korrigeerimised 84,168 92,108
Äritegevusega seotud varade muutused -9,778 2,873
Äritegevusega seotud kohustuste muutused 9,999 6,811
Makstud tulumaks -30 -59
--------------------------------------------------------------------------------
68,737 81,249
--------------------------------------------------------------------------------
-----------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse põhivara -8,242 -5,575
soetamine
Laekumised materiaalse põhivara müügist 64 6,466
Sidusettevõtete aktsiate soetamine 0 -587
Maksed tuletisinstrumentidest -3,868 -3,201
Saadud intressid 64 163
--------------------------------------------------------------------------------
-11,982 -2,734
--------------------------------------------------------------------------------
-----------------------------------------------------
Rahavood finantseerimistegevusest
Laenude tagasimaksed -35,805 -36,665
Kasutatud arvelduskrediidi muutus 0 -15,765
Kapitalirendi põhimaksete tasumine -64 -281
Makstud intressid -28,737 -33,007
-64,606 -85,718
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU -7,851 -7,203
--------------------------------------------------------------------------------
----------------------------------------------------- -------------
Raha ja raha ekvivalendid
- perioodi alguses 57,488 49,982
- suurenemine (+) / vähenemine (-) -7,851 -7,203
--------------------------------------------------------------------------------
- perioodi lõpus 49,637 42,779
--------------------------------------------------------------------------------
Janek Stalmeister
Juhatuse liige
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]
Harri Hanschmidt
Investorsuhete juht
AS Tallink Grupp
Sadama 5/7, 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]
Teate sisu inglise keeles
Pealkiri
Q3 results of the 2010/2011 financial year
Teade
Tallinn, 2011-07-15 08:40 CEST (GLOBE NEWSWIRE) --
Q3 results of the 2010/2011 financial year
The revenue of AS Tallink Grupp and its subsidiaries' (the Group) continued to
grow in the third quarter of 2010/2011 financial year (01.03.2011-31.05.2011)
in support of the improved revenue per passenger and higher cargo sales from
increased cargo units. At the same time the increase was noticeable also in the
costs. The quarter started in harsh ice conditions in March and the
significantly risen fuel price was dominant throughout the whole quarter.
The Group transported 2 098 356 passengers in the third quarter of 2010/2011
financial year which is 2.7% less than in the same period of the previous
financial year as a consequence of different campaigns and tactics in the
product offering between the months of second and third quarter. On a
cumulative basis the Group has transported 9% more passengers during the nine
months of the current financial year compared to the same period of previous
financial year. The fourth quarter high season has also started off with a
strong 10% year on year increase in the passenger volume.
In the third quarter the positive development continued in the cargo
transportation. Derived mainly from the growing economies in the region the
Group's cargo units rose to 76 366 which is 11% more than year ago.
In the third quarter of the 2010/2011 financial year the Group's unaudited
consolidated revenue was EUR 209.5 million which is EUR 7.1 million or 3.5%
more than in the third quarter of the previous financial year. Cargo sales
increased by EUR 4.2 million or 17.1% and ticket sales by EUR 2.6 million or
5.2% compared to the third quarter of the previous financial year. Ticket
revenue per passenger improved by EUR 1.9 and restaurant and shop sales per
passenger by EUR 1.1 which are respectively 8.1% and 2.0% better than year ago.
However, the increase in the revenue in the third quarter did not outperform
the increase in the costs and the Group's earnings were lower than year ago.
The largest impact to the cost development came from the increased fuel price.
The Group's ship fuel is priced in relation to the market price of 1% Fuel Oil.
On average the fuel oil price in the third quarter was 33% higher than last
year.
In the third quarter of 2010/2011 financial year the Group's fuel cost
increased by EUR 10.3 million compared to the third quarter of previous
financial year. Fuel surcharge was added to the passenger tickets starting from
June 2011 which together with the existing fuel surcharge system for the cargo
is estimated to provide higher compensation to the fuel cost increase in the
fourth quarter and onwards.
Fuel cost increase Q3 9 months
impact to the results
in EUR millions
Change in revenue +7.1 +59.6
------------------------------------------------------------
Change in operating result before fuel cost +3.1 +22.1
------------------------------------------------------------
------------------------------------------------------------
Change in fuel cost -10.3 -21.1
------------------------------------------------------------
Change in operating result -7.2 +1
------------------------------------------------------------
The Group's sales and marketing activities during the current financial year
have played important role in the overall positive passenger number and revenue
growth. In the third quarter the Group's marketing expenses increased by EUR
2.8 million partly in preparation for the high season which has already shown
good payoff in the June passenger bookings.
The Group's EBITDA in the third quarter of the 2010/2011 financial year was EUR
22.7 million which is EUR 7.2 million or a 24% decrease compared to the third
quarter of the previous financial year. In the first nine months of the current
financial year the Group's EBITDA is EUR 68.4 million being EUR 1 million
higher than year ago. In the third quarter the Group's unaudited consolidated
net loss was EUR 7.3 million compared to the net loss of EUR 3.0 million last
year. In the first nine months of the current financial year the net loss is
EUR 15.6 million whereas in the same period of the previous financial year the
net loss was EUR 20.6 million.
The increase in the Group's revenues in the third quarter met the management
expectations however the sharply increased fuel costs deteriorated the final
result.
KEY FIGURES Q3 2010/2011 Q3 2009/2010 change
--------------------------------------------------------------------------------
Revenue EUR million 209.5 202.4 3%
--------------------------------------------------------------------------------
Gross profit EUR million 30.2 36.8 -18%
--------------------------------------------------------------------------------
Gross margin 14% 18%
--------------------------------------------------------------------------------
EBITDA EUR million 22.7 30.0 -24%
--------------------------------------------------------------------------------
EBITDA margin 11% 15%
--------------------------------------------------------------------------------
Net profit / -loss EUR million -7.3 -3.0 -144%
--------------------------------------------------------------------------------
Net profit margin -3.5% -1.5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation & amortisation EUR million 17.8 17.9 -0%
--------------------------------------------------------------------------------
Investments EUR million 4.0 1.3 308%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of shares 669 882 040 669 882 040 0%
outstanding*
--------------------------------------------------------------------------------
Earnings per share EUR -0.01 -0.00 -144%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2 098 356 2 156 448 -3%
--------------------------------------------------------------------------------
Number of cargo units 76 366 68 991 11%
--------------------------------------------------------------------------------
Average number of employees 6 676 6 429 4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
31.05.2011 28.02.2011
--------------------------------------------------------------------------------
Total assets EUR million 1 827 1 822 0.3%
--------------------------------------------------------------------------------
Total liabilities EUR million 1 175 1 163 1.1%
--------------------------------------------------------------------------------
Interest bearing liabilities EUR million 1 034 1 033 0.1%
--------------------------------------------------------------------------------
Total equity EUR million 651 659 -1.1%
--------------------------------------------------------------------------------
Equity ratio 36% 36%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of shares outstanding* 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Shareholders' equity per share EUR 1.0 1.0
--------------------------------------------------------------------------------
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.
The Management estimates that the growth in the Group revenues will continue in
the fourth quarter. The fuel prices have stayed at high levels bringing
noticeably higher fuel cost in Q4 of the current financial year compared to the
same period a year ago. Overall the Group's results are estimated to improve.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of 01.03.2011- 01.03.2010- 01.09.2010- 01.09.2009-
EUR)
31.05.2011 31.05.2010 31.05.2011 31.05.2010
================================================================================
Revenue 209,489 202,416 601,312 541,709
Cost of sales -179,241 -165,604 -511,517 -457,704
Gross profit 30,248 36,812 89,795 84,005
--------------------------------------------------------------------------------
Marketing expenses -15,935 -13,140 -45,808 -40,107
Administrative expenses -9,551 -10,169 -29,948 -29,500
Other income 167 263 486 790
Other expenses -8 -1,656 -25 -1,694
--------------------------------------------------------------------------------
Results from operating 4,921 12,110 14,500 13,494
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 1,748 -1,817 10,091 5,354
Finance costs -14,018 -13,312 -40,156 -39,332
Share of loss of associates 0 0 -57 0
Profit/-loss before income -7,349 -3,019 -15,622 -20,484
tax
--------------------------------------------------------------------------------
Income tax 0 0 0 0
Net profit/-loss for the -7,349 -3,019 -15,622 -20,484
period
--------------------------------------------------------------------------------
----------------------------- ------------
Other comprehensive
income/-expense
Exchange differences on 234 -239 54 493
translating foreign
operations
Changes in fair value of 0 -104 -705 1,015
cash flow hedges
Other comprehensive 234 -343 -651 1,508
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive -7,115 -3,362 -16,273 -18,976
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit/-loss attributable
to:
Equity holders of the -7,349 -3,019 -15,622 -20,484
paren
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Total comprehensive
income/-expense
attributable to:
Equity holders of the -7,115 -3,362 -16,273 -18,976
parent
Earnings per share (in EUR
per share)
- basic -0.01 -0.00 -0.02 -0.03
- diluted -0.01 -0.00 -0.02 -0.03
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
ASSETS 31.05.2011 31.08.2010
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 49,637 57,488
Trade and other receivables 42,341 42,040
Prepayments 14,314 9,752
Derivatives 0 705
Inventories 24,840 20,035
Total current assets 131,132 130,020
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in associates 157 214
Other financial assets 322 317
Deferred income tax assets 10,664 10,664
Investment property 300 300
Property, plant and equipment 1,620,717 1,663,100
Intangible assets 63,505 66,700
---------------------------------------------------------
Total non-current assets 1,695,665 1,741,295
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,826,797 1,871,315
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 118,204 63,627
Trade and other payables 94,216 94,054
Deferred income 32,979 23,965
Derivatives 13,889 17,634
Total current liabilities 259,288 199,280
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 916,000 1,004,244
Other liabilities 65 74
--------------------------------------------------------------------------------
Total non-current liabilities 916,065 1,004,318
--------------------------------------------------------------------------------
TOTAL LIABILITIES 1,175,353 1,203,598
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,291 430,648
Share premium 639 639
Reserves 73,049 72,607
Retained earnings 173,465 163,823
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 651,444 667,717
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 651,444 667,717
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,826,797 1,871,315
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EUR) 01.09.2010 - 01.09.2009 -
31.05.2011 31.05.2010
Cash flows from operating activities
Net profit/-loss for the period -15,622 -20,484
Adjustments 84,168 92,108
Changes in assets related to operating activities -9,778 2,873
Changes in liabilities related to operating 9,999 6,811
activities
Income tax paid -30 -59
--------------------------------------------------------------------------------
68,737 81,249
--------------------------------------------------------------------------------
-----------------------------------------------------
Cash flow used for investing activities
Purchase of property, plant and equipment and -8,242 -5,575
intangible assets
Proceeds from disposals of property, plant and 64 6,466
equipment
Issue of shares by associates 0 -587
Payments from settlement of derivatives -3,868 -3,201
Interest received 64 163
--------------------------------------------------------------------------------
-11,982 -2,734
--------------------------------------------------------------------------------
-----------------------------------------------------
Cash flow from (+)/ used for (-) financing
activities
Redemption of loans -35,805 -36,665
Change in overdraft 0 -15,765
Repayment of finance lease liabilities -64 -281
Interest paid -28,737 -33,007
-64,606 -85,718
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TOTAL NET CASH FLOW -7,851 -7,203
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----------------------------------------------------- -------------
Cash and cash equivalents:
- at the beginning of period 57,488 49,982
- increase (+) / decrease (-) -7,851 -7,203
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Cash and cash equivalents at end of period 49,637 42,779
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Janek Stalmeister
Member of the Management Board, CFO
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]
Harri Hanschmidt
Head of Investor Relations
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]