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
3488
Manused
Esitamise kuupäev ja aeg
17.10.2011 16:11:49
Teate sisu eesti keeles
Pealkiri
2010/2011 majandusaasta 12 kuu auditeerimata tulemused
Teade
Tallinn, 2011-10-17 15:11 CEST (GLOBE NEWSWIRE) --
2010/2011 majandusaasta 12 kuu auditeerimata tulemused
TEGEVUSARUANNE
2010/2011 majandusaasta kaksteist kuud ning neljas kvartal andsid jätkuvalt
kinnitust AS-i Tallink Grupp ja tema tütarettevõtete (edaspidi „Kontsern“)
edukale tegevusele. Reisijate arv ning müügitulu saavutasid uued rekordilised
tasemed tugevdades Kontserni juhtivat positsiooni lühikruiiside ja ärireiside
pakkujana Läänemerel.
Kontserni 2010/2011 majandusaasta 12 kuu (01.09.2010-31.08.2011) auditeerimata
müügitulu ulatus 897 miljoni euroni. Võrreldes eelneva majandusaastaga tõusis
müügitulu 83 miljoni euro võrra ehk 10%. Majandusaasta esimese 12 kuuga veetud
reisijate arv tõusis aasta varasemaga võrreldes 8% võrra 9,1 miljoni reisijani,
mis oli ka peamiseks müügitulude kasvu mõjuriks. Kasvas ka keskmine müügitulu
reisija kohta. Reisijate arvu kasvule aitas kaasa aktiivsem reklaami- ja
müügitegevus, mis kajastub ka suurenenud turunduskuludes.
12 kuu brutokasum kasvas eelmise majandusaasta sama perioodiga võrreldes 11%
võrra 187 miljoni euroni. Finantstulude ja -kulude, maksude ning kulumi eelne
kasum (EBITDA) suurenes samal perioodil ligi 14 miljoni euro ehk 9% võrra 159
miljoni euroni. Kontserni auditeerimata puhaskasum 2010/2011 majandusaasta
esimese 12 kuuga oli 38 miljonit eurot, mis on 76% rohkem kui eelmise
majandusaasta samal perioodil.
Suur osa Kontserni 12 kuu kasumi suurenemisest tuleneb suvisest kõrghooajast -
majandusaasta neljandast kvartalist (01.06.2011-31.08.2011). Veetud reisijate
arv suurenes eelmise majandusaasta neljanda kvartaliga võrreldes 5% võrra 2,98
miljoni reisijani. Kontserni müügitulu kasvas samal perioodil 24 miljoni euro
ehk 9% võrra tingituna erinevatest tulude maksimeerimisele suunatud
tegevustest, kütuselisa kehtestamisest ning suuremast reisijate arvust.
Kontserni tegevuse hooajalisuse ning kõrge tegevusvõimenduse eripärana avaldus
suur osa suvisest müügitulude kasvust 13 miljoni euro näol suurenenud
brutokasumis ning EBITDA's, mis ulatusid majandusaasta neljandas kvartalis
vastavalt 97 ja 90 miljoni euroni. Kontserni auditeerimata puhaskasum samal
perioodil oli 54 miljonit eurot, mis on 27% rohkem kui aasta varem. Aktsiakasum
kasvas 2 senti 0,08 euroni.
Vastavalt Kontserni strateegiale jätkus laenude vähendamine. Neljanda kvartali
lõpus 31. augustil 2011 oli Kontsernil 1 011 miljonit eurot intressikandvaid
kohustusi, mis on 5% vähem kui aasta tagasi. Tänu suurenenud rahapositsioonile
vähenes Kontserni netovõlg eelmise aastaga võrreldes 9% võrra 916 miljoni
euroni. EBITDA suhe netovõlga on vähenenud 5,8-ni.
Sarnaselt eelnevatele kvartalitele avaldas Kontserni kuludele suurimat mõju
kütusekulude suurenemine johtuvalt kõrgematest kütusehindadest. Neljandas
kvartalis suurenes kütusekulu võrreldes eelmise aastaga 7 miljoni euro võrra
ehk 22%. 2010/2011 majandusaasta 12kuu arvestuses suurenes kütusekulu 28
miljoni euro võrra, mis on 26% suurem kui eelneval majandusaastal.
Kontserni neljanda kvartali tulemus vastas juhtkonna ootustele.
PÕHINÄITAJAD IV kv. IV kv. muutus
2010/2011 2009/2010
------------------------------------------------------------------------
Müügitulu milj. EUR 295,9 272,2 8,7%
------------------------------------------------------------------------
Brutokasum milj. EUR 96,9 84,1 15,1%
------------------------------------------------------------------------
Brutokasumi marginaal 33% 31%
------------------------------------------------------------------------
EBITDA milj. EUR 90,2 77,7 16,1%
------------------------------------------------------------------------
EBITDA marginaal 30% 29%
------------------------------------------------------------------------
Puhaskasum / -kahjum milj. EUR 54,0 42,3 27,6%
------------------------------------------------------------------------
Puhaskasumi marginaal 18% 16%
------------------------------------------------------------------------
------------------------------------------------------------------------
Amortisatsioon milj. EUR 17,7 19,3 -8,1%
------------------------------------------------------------------------
Investeeringud milj. EUR 2,1 0,5 287%
------------------------------------------------------------------------
------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv* 669 882 040 669 882 040 0%
------------------------------------------------------------------------
Aktsiakasum EUR 0,08 0,06 27,6%
------------------------------------------------------------------------
------------------------------------------------------------------------
Reisijate arv 2 977 564 2 839 850 4,8%
------------------------------------------------------------------------
Kaubaveo ühikute arv 70 184 67 297 4,3%
------------------------------------------------------------------------
Töötajate keskmine arv 7 135 6 851 4.1%
------------------------------------------------------------------------
---------------------------------
31.08.2011 31.05.2011
------------------------------------------------------------------------
Varad milj. EUR 1 859 1 827 1,7%
------------------------------------------------------------------------
Intressi kandvad kohustused milj. EUR 1 011 1 034 -2.2%
------------------------------------------------------------------------
Netovõlg milj. EUR 916 985 -7.0%
------------------------------------------------------------------------
Netovõla EBITDA suhe 5.8 6.7
------------------------------------------------------------------------
Omakapital kokku milj. EUR 706 651 8,4%
------------------------------------------------------------------------
Omakapitali määr 38% 36%
------------------------------------------------------------------------
------------------------------------------------------------------------
Aktsiate arv* 669 882 040 669 882 040 0%
------------------------------------------------------------------------
Omakapital aktsia kohta EUR 1,05 0,97 8,4%
------------------------------------------------------------------------
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;
Netovõlg - Intressikandvad kohustused - raha ja ekvivalendid
Netovõla EBITDA suhe - Netovõlg / 12-kuu EBITDA
*Ei sisalda omaaktsiaid.
2010/2011 majandusaasta neljanda kvartali lõpus oli Kontsernil rahalisi
vahendeid 95 miljonit eurot, mis on ligikaudu 38 miljonit eurot rohkem kui
aasta tagasi. Lisaks on Kontsernile saadaval kasutamata arvelduskrediidi limiit
47 miljoni euro ulatuses. Rahaliste vahendite ja arvelduskrediidi näol oli
Kontserni likviidsus kolmanda kvartali lõpus 142 miljonit eurot.
Juhtkonna hinnangul jätkub Kontserni tulemuste paranemine 2010/2011
majandusaasta viimasel neljal kuul kuid reisijate arvu ning müügitulude kasv ei
saa olema nii agressiivne kui 2010.a. sügisel. Tähelepanuta ei saa jätta
majanduskeskkonna ebakindlust ja arenguid, mille võimalikku mõju Kontserni
tegevusele ei oska hetkel hinnata. Jätkuvalt on kõrgetel tasemetel püsinud
kütusehinnad, mis avaldavad mõju kulude suurenemisele. Samas on oodata
positiivset mõju Soome-Saksa liini sulgemisest, mille varasem negatiivne
tulemus asendub positiivse tulemusega laevade prahtimisest.
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.06.2011- 01.06.2010- 01.09.2010- 01.09.2009-
eurodes)
31.08.2011 31.08.2010 31.08.2011 31.08.2010
================================================================================
Müügitulu 295,895 272,163 897,207 813,872
Müüdud kaupade ja teenuste -199,013 -188,026 -710,530 -645,730
kulu
Brutokasum 96,882 84,137 186,677 168,142
--------------------------------------------------------------------------------
Turustuskulud -14,222 -14,166 -60,030 -54,273
Halduskulud -10,618 -10,759 -40,566 -40,259
Muud äritulud 479 116 965 906
Muud ärikulud -12 -542 -37 -2,236
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 72,509 58,786 87,009 72,280
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud -2,739 -116 7,352 5,238
Finantskulud -15,639 -13,329 -55,795 -52,661
Kahjumi osa sidusettevõttest 0 -373 -57 -373
Kasum/-kahjum enne tulumaksu 54,131 44,968 38,509 24,484
--------------------------------------------------------------------------------
Tulumaks -115 -2,634 -115 -2,634
Aruandeperioodi 54,016 42,334 38,394 21,850
puhaskasum/-kahjum
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Valuutakursi vahed 28 216 82 709
välisettevõtetest
Riskimaandamise 0 -283 -705 732
instrumentide õiglase
väärtuse muutus
Materiaalse põhivara 0 1,730 0 1,730
ümberhindlus
Perioodi muu 28 1,663 -623 3,171
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum 54,044 43,997 37,771 25,021
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
Emaettevõtte omanike osa 54,016 42,334 38,394 21,850
puhaskasumist/-kahjumist
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
Emaettevõtte omanike osa 54,044 43,997 37,771 25,021
koondkasumist/-kahjumist
Kasum/-kahjum aktsia kohta
(EUR-ides ühe aktsia kohta)
- tava 0.08 0.06 0.06 0.03
- lahustatud 0.08 0.06 0.06 0.03
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 31.08.2011 31.08.2010
======================================================================
Käibevara
----------------------------------------------------------------------
Raha ja raha ekvivalendid 95,178 57,488
Nõuded ostjate vastu ja muud nõuded 52,277 42,040
Ettemaksed 8,374 9,752
Tuletisinstrumendid 0 705
Varud 23,916 20,035
Käibevara kokku 179,745 130,020
----------------------------------------------------------------------
Põhivara
----------------------------------------------------------------------
Investeeringud sidusettevõtetesse 157 214
Muud finantsvarad 2,892 317
Edasilükkunud tulumaksuvara 10,664 10,664
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,602,481 1,663,100
Immateriaalne põhivara 62,372 66,700
----------------------------------------------------------------------
Põhivara kokku 1,678,866 1,741,295
----------------------------------------------------------------------
----------------------------------------------------------------------
VARAD KOKKU 1,858,611 1,871,315
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
======================================================================
Lühiajalised kohustused
----------------------------------------------------------------------
Intressikandvad võlakohustused 125,905 63,627
Võlad tarnijatele ja muud võlad 97,927 94,054
Ettemakstud tulud 23,103 23,965
Tuletisinstrumendid 20,121 17,634
Lühiajalised kohustused kokku 267,056 199,280
----------------------------------------------------------------------
Pikaajalised kohustused
----------------------------------------------------------------------
Intressikandvad võlakohustused 885,328 1,004,244
Muud kohustused 212 74
----------------------------------------------------------------------
Pikaajalised kohustused kokku 885,540 1,004,318
----------------------------------------------------------------------
Kohustused kokku 1,152,596 1,203,598
----------------------------------------------------------------------
OMAKAPITAL
----------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
----------------------------------------------------------------------
----------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404,291 430,648
Ülekurss 639 639
Reservid 71,280 72,607
Jaotamata kasum 229,805 163,823
----------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 706,015 667,717
----------------------------------------------------------------------
OMAKAPITAL KOKKU 706,015 667,717
----------------------------------------------------------------------
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,858,611 1,871,315
----------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.09.2010 - 01.09.2009 -
31.08.2011 31.08.2010
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 38,394 21,850
Korrigeerimised 120,942 127,208
Äritegevusega seotud varade muutused -11,749 9,796
Äritegevusega seotud kohustuste muutused 2,817 5,009
Makstud tulumaks -124 -71
--------------------------------------------------------------------------------
150,280 163,792
--------------------------------------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse põhivara -10,321 -6,112
soetamine
Laekumised materiaalse põhivara müügist 66 6,704
Sidusettevõtete aktsiate soetamine 0 -587
Maksed tuletisinstrumentidest -5,161 -4,460
Saadud intressid 158 173
--------------------------------------------------------------------------------
-15,258 -4,282
--------------------------------------------------------------------------------
Rahavood finantseerimistegevusest
Laenude tagasimaksed -59,489 -60,348
Kasutatud arvelduskrediidi muutus 0 -46,115
Kapitalirendi põhimaksete tasumine -86 -403
Makstud intressid -37,757 -45,138
-97,332 -152,004
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU 37,690 7,506
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid
- perioodi alguses 57,488 49,982
- suurenemine (+) / vähenemine (-) 37,690 7,506
--------------------------------------------------------------------------------
- perioodi lõpus 95,178 57,488
--------------------------------------------------------------------------------
Kontsern avaldab järgmise vahearuande, majandusaasta 16 kuu ja 2011
september-detsember perioodi kohta 2012 aasta veebruaris.
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
12 months unaudited results of the 2010/2011 financial year
Teade
Tallinn, 2011-10-17 15:11 CEST (GLOBE NEWSWIRE) --
12 months unaudited results of the 2010/2011 financial year
The twelve months and fourth quarter of the 2010/2011 financial year witnessed
successful performance of AS Tallink Grupp and its subsidiaries' (the Group).
Passenger volume and sales figures registered all-time highs strengthening the
Group's position as the leading short cruise and business travel provider on
the Baltic Sea.
The Group's unaudited revenue for the twelve months of the 2010/2011 financial
year (01.09.2010-31.08.2011) reached 897 million euros which is a strong
increase of EUR 83 million or 10% compared to the previous financial year. The
number of passengers transported during twelve months of the financial year
increased by 8% to 9.1 million passengers being the main driver for the revenue
growth. The Group was also able to increase the revenue per passenger. The
growth in the passenger volume was supported by increased advertising and sales
activities which is visible in the higher marketing expenses.
The twelve months Gross profit was nearly 187 million euros, 11% up from last
year. In the same period EBITDA was nearly 159 million euros being 14 million
euros or 9% higher than a year ago. The Group's unaudited consolidated net
profit for the twelve months of the 2010/2011 financial year amounted to 38
million euros, 76% more than in the twelve months of the previous financial
year.
Noticeable contribution to the Group's twelve months earnings comes from the
fourth quarter (01.06.2011-31.08.2011) which is the high season. In the fourth
quarter of the 2010/2011 financial year the passenger volume increased by 5% to
2.98 million passengers. The Group's revenue for the fourth quarter increased
by 24 million euros or 9% in result of the various revenue maximisation
measures, introducing the fuel surcharges, improved passenger spending and
higher passenger volume. Given the high operating leverage and seasonality in
the Group's operations the increase in the revenues in the profitable summer
season converted to nearly 13 million euros higher gross profit and EBITDA
which were EUR 97 million and EUR 90 million respectively. The net profit for
the fourth quarter was 54 million euros, a 27% increase compared to the fourth
quarter of the previous financial year. Earnings per share increased by 2 cents
to EUR 0.08.
As outlined in the strategy the Group continued to reduce the debt. In the end
of fourth quarter the interest bearing liabilities amounted to 1 011 million
euros which is 5% less than a year ago. As a result of the improved cash
position the Group's net debt is down by 9% to 916 million euros. The ratio of
the net debt to EBITDA has fallen to 5.8 as of 31.08.2011.
Similarly to the previous quarters the Group's operating costs increased in the
fourth quarter mainly in result of the fuel cost increase due to the high fuel
prices. For the fourth quarter the fuel cost was EUR 7 million or 22% higher
than a year ago and for the whole twelve months of the 2010/2011 financial year
the increase was EUR 28 million which is 26% more compared to the year earlier.
The fourth quarter result met the management expectations.
KEY FIGURES Q4 2010/2011 Q4 2009/2010 change
--------------------------------------------------------------------------------
Revenue EUR million 295.9 272.2 8.7%
--------------------------------------------------------------------------------
Gross profit EUR million 96.9 84.1 15.1%
--------------------------------------------------------------------------------
Gross margin 33% 31%
--------------------------------------------------------------------------------
EBITDA EUR million 90.2 77.7 16.1%
--------------------------------------------------------------------------------
EBITDA margin 30% 29%
--------------------------------------------------------------------------------
Net profit / -loss EUR million 54.0 42.3 27.6%
--------------------------------------------------------------------------------
Net profit margin 18% 16%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation & amortisation EUR million 17.7 19.3 -8.1%
--------------------------------------------------------------------------------
Investments EUR million 2.1 0.5 287%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of shares 669 882 040 669 882 040 0%
outstanding*
--------------------------------------------------------------------------------
Earnings per share EUR 0.08 0.06 27.6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2 977 564 2 839 850 4.8%
--------------------------------------------------------------------------------
Number of cargo units 70 184 67 297 4.3%
--------------------------------------------------------------------------------
Average number of employees 7 135 6 851 4.1%
--------------------------------------------------------------------------------
-----------------------------------
31.08.2011 31.05.2011 change
--------------------------------------------------------------------------------
Total assets EUR million 1 859 1 827 1.7%
--------------------------------------------------------------------------------
Interest bearing liabilities EUR million 1 011 1 034 -2.2%
--------------------------------------------------------------------------------
Net debt EUR million 916 985 -7.0%
--------------------------------------------------------------------------------
Net debt to EBITDA 5.8 6.7
--------------------------------------------------------------------------------
Total equity EUR million 706 651 8.4%
--------------------------------------------------------------------------------
Equity ratio 38% 36%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of shares outstanding* 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Shareholders' equity per share EUR 1.05 0.97 8.4%
--------------------------------------------------------------------------------
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;
Net debt - Interest bearing liabilities less cash and cash equivalents;
Net debt to EBITDA - Net debt / 12-months trailing EBITDA;
* Share numbers exclude own shares.
In the end of the fourth quarter the Group's cash and cash equivalents amounted
to EUR 95 million which is nearly EUR 38 million higher than a year ago. In
addition the Group maintains unused working capital credit lines in amount of
EUR 47 million which takes Group's total liquidity position to EUR 142 million.
The management estimates overall improvement in the Group results in the last
four months of the financial year. The growth in the volumes and revenue will
not be as aggressive compared to the autumn of 2010. The current uncertainties
in the economic environment and potential economic developments may have impact
to the Group result, but which cannot be estimated today. As fuel prices have
remained at high levels they continue to increase the fuel costs whereas the
positive impact shall be expected from the closure of the Finland-Germany route
which previous negative result will change to positive result from chartering
of ships.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of 01.06.2011- 01.06.2010- 01.09.2010- 01.09.2009-
EUR)
31.08.2011 31.08.2010 31.08.2011 31.08.2010
================================================================================
Revenue 295,895 272,163 897,207 813,872
Cost of sales -199,013 -188,026 -710,530 -645,730
Gross profit 96,882 84,137 186,677 168,142
--------------------------------------------------------------------------------
Marketing expenses -14,222 -14,166 -60,030 -54,273
Administrative expenses -10,618 -10,759 -40,566 -40,259
Other income 479 116 965 906
Other expenses -12 -542 -37 -2,236
--------------------------------------------------------------------------------
Results from operating 72,509 58,786 87,009 72,280
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income -2,739 -116 7,352 5,238
Finance costs -15,639 -13,329 -55,795 -52,661
Share of loss of associates 0 -373 -57 -373
Profit/-loss before income 54,131 44,968 38,509 24,484
tax
--------------------------------------------------------------------------------
Income tax -115 -2,634 -115 -2,634
Net profit/-loss for the 54,016 42,334 38,394 21,850
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Exchange differences on 28 216 82 709
translating foreign
operations
Changes in fair value of 0 -283 -705 732
cash flow hedges
Revaluation of property, 0 1,730 0 1,730
plant and equipment
Other comprehensive 28 1,663 -623 3,171
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive 54,044 43,997 37,771 25,021
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit/-loss attributable
to:
Equity holders of the 54,016 42,334 38,394 21,850
parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Total comprehensive
income/-expense
attributable to:
Equity holders of the 54,044 43,997 37,771 25,021
parent
Earnings per share (in EUR
per share)
- basic 0.08 0.06 0.06 0.03
- diluted 0.08 0.06 0.06 0.03
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
ASSETS 31.08.2011 31.08.2010
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 95,178 57,488
Trade and other receivables 52,277 42,040
Prepayments 8,374 9,752
Derivatives 0 705
Inventories 23,916 20,035
Total current assets 179,745 130,020
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in associates 157 214
Other financial assets 2,892 317
Deferred income tax assets 10,664 10,664
Investment property 300 300
Property, plant and equipment 1,602,481 1,663,100
Intangible assets 62,372 66,700
--------------------------------------------------------------------------------
Total non-current assets 1,678,866 1,741,295
--------------------------------------------------------------------------------
TOTAL ASSETS 1,858,611 1,871,315
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 125,905 63,627
Trade and other payables 97,927 94,054
Deferred income 23,103 23,965
Derivatives 20,121 17,634
Total current liabilities 267,056 199,280
--------------------------------------------------------------------------------
Non-current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 885,328 1,004,244
Other liabilities 212 74
--------------------------------------------------------------------------------
Total non-current liabilities 885,540 1,004,318
--------------------------------------------------------------------------------
TOTAL LIABILITIES 1,152,596 1,203,598
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,291 430,648
Share premium 639 639
Reserves 71,280 72,607
Retained earnings 229,805 163,823
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 706,015 667,717
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 706,015 667,717
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,858,611 1,871,315
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EUR) 01.09.2010 - 01.09.2009 -
31.08.2011 31.08.2010
Cash flows from operating activities
Net profit/-loss for the period 38,394 21,850
Adjustments 120,942 127,208
Changes in assets related to operating activities -11,749 9,796
Changes in liabilities related to operating 2,817 5,009
activities
Income tax paid -124 -71
--------------------------------------------------------------------------------
150,280 163,792
--------------------------------------------------------------------------------
Cash flow used for investing activities
Purchase of property, plant and equipment and -10,321 -6,112
intangible assets
Proceeds from disposals of property, plant and 66 6,704
equipment
Issue of shares by associates 0 -587
Payments from settlement of derivatives -5,161 -4,460
Interest received 158 173
--------------------------------------------------------------------------------
-15,258 -4,282
--------------------------------------------------------------------------------
Cash flow from (+)/ used for (-) financing
activities
Redemption of loans -59,489 -60,348
Change in overdraft 0 -46,115
Repayment of finance lease liabilities -86 -403
Interest paid -37,757 -45,138
-97,332 -152,004
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW 37,690 7,506
--------------------------------------------------------------------------------
Cash and cash equivalents:
- at the beginning of period 57,488 49,982
- increase (+) / decrease (-) 37,690 7,506
--------------------------------------------------------------------------------
Cash and cash equivalents at end of period 95,178 57,488
--------------------------------------------------------------------------------
The Group will provide the next interim report in February 2012 for the
16-months period of the 2010/2011 financial year which will include the results
for the extended four months (September-December) period.
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]