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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
4868
Manused
Esitamise kuupäev ja aeg
26.02.2015 09:50:00
Teate sisu eesti keeles
Pealkiri
2014 majandusaasta 12-kuu konsolideeritud auditeerimata vahearuanne
Teade
Tallinn, 2015-02-26 08:50 CET (GLOBE NEWSWIRE) --
2014 majandusaasta 12-kuu konsolideeritud auditeerimata vahearuanne
AS Tallink Grupp ja tema tütarettevõtted (edaspidi „Kontsern“) vedasid 2014.
majandusaastal kokku 8,9 miljonit reisijat, mida on 2,6% vähem kui eelneval
aastal. Kontserni auditeerimata konsolideeritud müügitulu kahanes 2,2% võrra
kokku 921,5 miljoni euroni. 2014. majandusaasta auditeerimata brutokasum kokku
oli 181,8 miljonit eurot, EBITDA 150,6 miljonit eurot. Auditeerimata puhaskasum
oli 27,3 miljonit eurot (0,04 senti aktsia kohta), mis on 37,1% vähem kui
eelmisel aastal.
2014. majandusaasta müügitulemusi mõjutasid mitmed tegevused ja muudatused
opereerimises ning turu arengud. Võrreldes eelmise aastaga on välja prahitud
suurem arv laevu ning sellest tingitult kasvasid laevade prahtimise tulud 2014
majandusaastal 53,1% ehk 16,3 miljoni euro võrra. Laevade prahtimisest on
oodata kasumlikkusele positiivset mõju ka järgnevates kvartalites. 2014
majandusaastal kahanes piletite ning kaubaveo müügitulu vastavalt 7,5% ja 2,4%.
Eesti-Soome vahelisel laevaliinil avaldus reisijate veo langus 1,3%, samas
veetud kaubaveoühikute arv kasvas 13,8% ning müügitulu tõusis 1,4% võrra
võrreldes eelmise aastaga. Soome-Rootsi vahelistel laevaliinidel vähenes
reisijate veo maht 3,4%, veetud kaubaveoühikute arv langes 8,8% ning müügitulu
langes 5,6% võrra. Reisijate arvu langus Soome ja Rootsi vahelistel liinidel
tulenes suurelt osalt Silja Symphony ja Silja Serenade kokku 80 päevasest
äraolekust laevade põhjalike uuendustööde tõttu. Läti-Rootsi vahelistel
laevaliinidel oli näha reisijate veo langust 12,5%, veetud kaubaveoühikute arv
kahanes 26,5% võrra, veetud sõiduautode arv kahanes 15,0% ning müügitulu
kahanes 16,5% võrreldes eelmise aasta sama perioodiga. Reisijate ja kaubaveo
langus Läti-Rootsi liinilt on tingitud asjaolust, et alates augusti kuu
algusest opereerib liinil ainult üks laev, Isabelle. Aasta jooksul avaldus
varasemast tugevam surve piletihindadele, mis tulenes konkurentide
agressiivsest hinnastamistest ning veomahtude suurendamisest.
Kontsern vedas 2014. majandusaasta neljandas kvartalis (1. oktoober – 31.
detsember) kokku ligi 2,1 miljonit reisijat, mida on 4,5% vähem kui sama
perioodi jooksul eelmisel aastal. Veetud kaubaühikute arv kahanes 1,2% võrra
ning veetud sõiduautode arv kahanes 1,7% võrra. Kontserni konsolideeritud
müügitulu neljandas kvartalis oli 224,1 miljonit eurot, mis jäi samale tasemele
võrreldes eelmise majandusaasta neljanda kvartaliga. 2014. majandusaasta
neljanda kvartali brutokasum oli 49,5 miljonit eurot ning EBITDA 41,1 miljonit
eurot vastavalt 33,4% või 12,4 miljonit eurot ja 37,7% või 11,2 miljonit eurot
rohkem kui eelmise majandusaasta samal perioodil. Kontserni auditeerimata
puhaskasum 2014. majandusaasta neljandas kvartalis oli 8,4 miljonit eurot, ehk
0,01 eurot aktsia kohta. Eelmise majandusaasta samal perioodil oli kasum 7,5
miljonit eurot ehk 0,01 eurot aktsia kohta.
Neljandas kvartalis avaldus Eesti-Soome vahelisel laevaliinil reisijate veo
langus 1,8%, samas veetud kaubaveoühikute arv kasvas 8,2% ning müügitulu tõusis
0,8% võrra võrreldes eelmise aasta sama perioodiga. Soome-Rootsi vahelistel
laevaliinidel vähenes reisijate veo maht 3,1%, veetud kaubaveoühikute arv
langes 8,9% ning müügitulu langes 3,8% võrra. Tulemust mõjutasid Silja Symphony
ümberehitustööd, mille tõttu laev oli liinilt ära kaks nädalat. Hoolimata
reisijateveo kergest langusest suutsime Soome-Rootsi liinil säilitada turuosa.
Läti-Rootsi vahelistel laevaliinidel oli näha reisijate veo langust 32,2%,
veetud kaubaveoühikute arv kahanes 58,8% võrra, veetud sõiduautode arv kahanes
36,9% ning müügitulu kahanes 35,1% võrreldes eelmise aasta sama perioodiga.
Tulemust mõjutas Romantika liikumine Tallinn-Stockholmi liinile, jättes M/L
Isabelle liinile ainsa laevana. Neljandas kvartalis avaldas tulemustele
positiivset mõju laevade prahtimisest saadav tulu kokku 16,2 miljonit eurot,
mis oli võrreldes eelmise aasta sama perioodiga 119.5% kõrgem, ning väiksem
kütusekulu.
Kontsern suutis edukalt parandada opereerimise efektiivsust läbi kütusekulude
vähendamise tänu lavade prahtimisete ning ümberpaigutamiste liinidel. Samal
ajal aitas kaasa globaalne kütusehindade langemine. Mõlemad asjaolud kokku
vähendasid kütuse kulu neljandas kvartalis umbes 9 miljoni euro võrra.
Kontserni üleminek madala väävlisisaldusega kütusele neljanda kvartali lõpus
möödus plaanipäraselt.
Jätkuvalt avaldavad Kontserni tegevusele mõju geopoliitilised sündmused
Euroopas. Reisijate arv Vene turult on läbi aasta olnud nähtavalt madalam.
Kontsern jätkas edukalt laenukoormuse vähendamise strateegiat, 2014.
majandusaasta jooksul kahanes netovõlg 44 miljoni euro võrra, 678 miljoni
euroni.
Kontserni kogu likviidsus ulatus neljanda kvartali lõpus 67,9 miljoni euroni,
mis hõlmab 65,3 miljonit eurot raha ja 2,6 miljonit eurot kasutamata
krediidilimiite, tagades tugeva finantspositsiooni jätkusuutlikuks
opereerimiseks.
Kuigi 2014. majandusaasta tulemused kokku ei vastanud Kontserni juhatuse
ootustele, siis neljanda kvartali tulemus oli tugev ning seab positiivse
väljavaate tulevasele aastale. Tulenevalt kasvanud konkurentsist, jätkuvalt
nõrgast põhjamaade majanduskeskkonnast ning ühekordsetest mõjudest jäi
majandustulemus oodatust nõrgemaks. Majandusaasta jooksul on tehtud erinevaid
samme, sealhulgas laevade prahtimine, ümberehitused ning laevade
ümberpaigutamine liinidel, et suurendada opereerimise efektiivust. Nimetatud
tegevused avaldasid majandusaasta neljandas kvartalis kasumlikkusele
positiivset mõju. Seoses sellega ootab juhatus 2015 aasta tulemuste paranemist.
Juhtkond leiab, et kontserni finantspositsioon võimaldab maksta dividende.
Juhatus teeb aktsionäride üldkoosolekule ettepaneku maksta dividende 0,02 eurot
aktsia kohta, kokku summas 13 397 641 eurot.
PÕHINÄITAJAD 2014 2013 muutus
oktoober-detsem oktoober-detsem
ber ber
--------------------------------------------------------------------------------
EUR EUR
--------------------------------------------------------------------------------
Müügitulu (miljonites) 224,1 224,0 0,1%
--------------------------------------------------------------------------------
Brutokasum (miljonites) 49,5 37,1 33,4%
--------------------------------------------------------------------------------
Brutokasumi marginaal 22,1% 16,6%
--------------------------------------------------------------------------------
EBITDA (miljonites) 41,1 29,8 37,7%
--------------------------------------------------------------------------------
EBITDA marginaal 18,3% 13,3%
--------------------------------------------------------------------------------
Aruande perioodi puhaskasum / -kahjum 8,4 7,5 11,5%
(miljonites)
--------------------------------------------------------------------------------
Puhaskasumi marginaal 3,7% 3,4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon (miljonites) 20,9 18,6 12,0%
--------------------------------------------------------------------------------
Investeeringud (miljonites) 18,1 5,0 265,6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv** 669 882 040 669 882 040
--------------------------------------------------------------------------------
Aktsiakasum 0,01 0,01 11,5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 2 051 410 2 148 204 -4,5%
--------------------------------------------------------------------------------
Kaubaveo ühikute arv 77 816 78 771 -1,2%
--------------------------------------------------------------------------------
Töötajate keskmine arv 6 715 6 898 -2,7%
--------------------------------------------------------------------------------
--------------------------------------- -------
----------------------------------
31.12.2014 30.09.2014
--------------------------------------------------------------------------------
Varad 1 685,6 1 688,4 -0,2%
--------------------------------------------------------------------------------
Intressi kandvad kohustused 743,4 770,9 -3,6%
(miljonites)
--------------------------------------------------------------------------------
Netovõlg (miljonites) 678,1 704,8 -3,8%
--------------------------------------------------------------------------------
Omakapital kokku (miljonites) 778,3 770,1 1,1%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Omakapitali määr 46,2% 45,6%
--------------------------------------------------------------------------------
Netovõla EBITDA suhe 4,5 5,1
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv** 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta 1,16 1,15 0,7%
--------------------------------------------------------------------------------
EBITDA: Finantstulude ja -kulude, maksude ja 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 miinus raha ja raha ekvivalendid;
Netovõla ja EBITDA suhe: Netovõlg / 12 kuu EBITDA.
** Aktsiate arv ei sisalda oma aktsiaid.
KONSOLIDEERITUDKOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.10.2014- 01.10.2013- 01.01.2014- 01.01.2013-
eurodes)
31.12.2014 31.12.2013 31.12.2014 31.12.2013
================================================================================
Müügitulu 224,141 223,982 921,466 941,983
Müüdud kaupade ja teenuste -174,619 -186,859 -739,626 -751,827
kulud
Brutokasum 49,522 37,123 181,840 190,156
--------------------------------------------------------------------------------
Turustuskulud -15,702 -13,650 -62,585 -63,292
Halduskulud -13,870 -12,679 -49,443 -45,148
Muud äritulud 709 1,035 1,696 2,120
Muud ärikulud -496 -664 -854 -805
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 20,163 11,165 70,654 83,031
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 4,623 5,757 11,760 21,547
Finantskulud -19,059 -14,538 -52,443 -57,503
Kapitaliosaluse meetodil 24 17 24 17
kajastatud
investeeringuobjektide
kasumi osa
Kasum/-kahjum enne tulumaksu 5,751 2,401 29,995 47,092
--------------------------------------------------------------------------------
Tulumaks 2,633 5,117 -2,734 -3,786
Aruandeperioodi 8,384 7,518 27,261 43,306
puhaskasum/-kahjum
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Summad, mida saab edaspidi
ümber liigitada kasumisse
või kahjumisse
Valuutakursi vahed 242 34 286 114
välisettevõtetest
Perioodi muu 242 34 286 114
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum 8,626 7,552 27,547 43,420
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum aktsia kohta (eurodes
ühe aktsia kohta)
- tava 0.01 0.01 0.04 0.06
- lahustatud 0.01 0.01 0.04 0.06
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 31.12.2014 31.12.2013
================================================================================
Käibevara
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid 65,311 72,012
Nõuded ostjate vastu ja muud nõuded 38,210 40,544
Ettemaksed 5,448 3,185
Tuletisinstrumendid 0 679
Varud 31,315 33,457
Käibevara kokku 140,284 149,877
--------------------------------------------------------------------------------
Põhivara
--------------------------------------------------------------------------------
Investeeringud kapitaliosaluse meetodil kajastatud 286 262
investeeringuobjektidesse
Muud finantsvarad 252 385
Edasilükkunud tulumaksuvara 21,338 17,413
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,467,964 1,495,895
Immateriaalne põhivara 55,174 57,925
---------------------------------------------------------
Põhivara kokku 1,545,314 1,572,180
--------------------------------------------------------------------------------
---------------------------------------------------------
VARAD KOKKU 1,685,598 1,722,057
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
================================================================================
Lühiajalised kohustused
--------------------------------------------------------------------------------
Intressikandvad võlakohustused 149,850 106,014
Võlad tarnijatele ja muud võlad 92,536 97,387
Ettemakstud tulud 29,408 28,315
Tuletisinstrumendid 41,982 30,888
Lühiajalised kohustused kokku 313,776 262,604
--------------------------------------------------------------------------------
Pikaajalised kohustused
-----------------------
--------------------------------------------------------------------------------
Intressikandvad võlakohustused 593,532 688,327
Muud kohustused 0 63
--------------------------------------------------------------------------------
Pikaajalised kohustused kokku 593,532 688,390
--------------------------------------------------------------------------------
Kohustused kokku 907,308 950,994
--------------------------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404,290 404,290
Ülekurss 639 639
Reservid 70,129 70,111
Jaotamata kasum 303,232 296,023
--------------------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 778,290 771,063
--------------------------------------------------------------------------------
OMAKAPITAL KOKKU 778,290 771,063
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,685,598 1,722,057
--------------------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.01.2014 - 01.01.2013-
31.12.2014 31.12.2013
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 27,261 43,306
Korrigeerimised 124,329 118,619
Äritegevusega seotud nõuete ja ettemaksete muutused -2,291 4,229
Varude muutused 2,142 -4,031
Äritegevusega seotud kohustuste muutused -803 6,649
Makstud tulumaks 71 -378
--------------------------------------------------------------------------------
150,709 168,394
--------------------------------------------------------------------------------
------------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse põhivara -49,148 -43,291
soetamine
Laekumised materiaalse põhivara müügist 215 1,318
Saadud intressid 140 114
--------------------------------------------------------------------------------
-48,793 -41,859
--------------------------------------------------------------------------------
------------------------------------------------------
Rahavood finantseerimistegevusest
Saadud laenud 0 24,000
Laenude tagasimaksed -89,842 -198,126
Kasutatud arvelduskrediidi muutus 43,993 18,456
Laekumised võlakirjadest 0 115,487
Kapitalirendimaksete tasumine -75 -96
Makstud intressid -33,270 -32,439
Tuletisinstrumentidega seotud maksed -3,985 -4,451
Laenudega seotud tehingukulude tasumine 0 -557
Makstud dividendid -20,096 -33,494
Tulumaks makstud dividendidelt -5,342 -8,903
-108,617 -120,123
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU -6,701 6,412
--------------------------------------------------------------------------------
------------------------------------------------------ ------------
Raha ja raha ekvivalendid
- perioodi alguses 72,012 65,600
- suurenemine (+) / vähenemine (-) -6,701 6,412
--------------------------------------------------------------------------------
- perioodi lõpus 65,311 72,012
--------------------------------------------------------------------------------
Harri Hanschmidt
Finantsosakonna juhataja
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 2014 financial year
Teade
Tallinn, 2015-02-26 08:50 CET (GLOBE NEWSWIRE) --
12 months unaudited results of the 2014 financial year
AS Tallink Grupp and its subsidiaries (the Group) carried a total of nearly 8.9
million passengers in the 2014 financial year which is 2.6% less than the the
year before. The Group’s unaudited consolidated revenue was EUR 921.5 million
which is 2.2% lower compared to the previous year. The unaudited gross profit
was EUR 181.8 million, EBITDA EUR 150.6 million. Unaudited net profit amounted
to EUR 27.3 million or EUR 0.04 per share, which is a 37.1% decrease compared
to the previous year.
The 2014 revenue was affected by several actions and changes in the operations
and market developments. Most noticeably the revenue from charters increased by
53.1% or EUR 16.3 million. This is a result of more vessels being in charter
and is expected to continue showing a positive effect to the profitability in
the forthcoming quarters. The ticket and cargo sales decreased by 7.5% and 2.4%
respectively. Estonia-Finland route showed a slight decline with passenger’s
numbers decreasing by 1.3%, however cargo units transported increased by 13.8%
and the segment revenue increased by 1.4%. On the Finland-Sweden route the
passenger’s volume decreased by 3.4%, cargo units transported decreased by 8.8%
and the sales decreased by 5.6%. due to Silja Symphony and Silja Serenade being
altogether 80 days in upgrade works and did not operate. The Latvia-Sweden
route showed a decline with passenger’s numbers decreasing by 12.5%, cargo
units transported decreased by 26.5%, passenger vehicles transported decreased
by 15.0% and the sales decreased by 16.5%. The decline in passenger and cargo
volumes on the Latvia-Sweden route is due to Isabelle operating as the only
vessel on the route since the beginning of August 2014. Throughout the year
there was increased pressure from competitors in the form of aggressive pricing
and added capacity.
In the fourth quarter (1 October - 31 December) of the 2014 financial year the
Group carried over 2.05 million passengers which is 4.5% less compared to the
same period last year. The number of cargo units transported decreased by 1.2%
and the number of passenger vehicles transported decreased by 1.7%. The Group’s
consolidated revenue in the fourth quarter was EUR 224.1 million, being on the
same level as in the last year. In the fourth quarter of the 2014 financial
year the Group’s gross profit amounted to EUR 49.5 million and EBITDA to EUR
41.1 million being respectively 33.4% or EUR 12.4 million and 37.7% or EUR 11.2
million more compared to the same period last year. The unaudited net profit
for the fourth quarter of the 2014 financial year was EUR 8.4 million or EUR
0.01 per share compared to the net profit of EUR 7.5 million or EUR 0.01 per
share in the same period last year.
In the fourth quarter the Estonia-Finland route showed a 1.8% decline in
passenger’s numbers, however cargo units transported increased by 8.2% and the
segment revenue increased by 0.8%. The Finland-Sweden route showed a decline
with passenger’s numbers decreasing by 3.1%, cargo units transported decreased
by 8.9%, the segment revenue decreased by 3.8%. The results were affected by
Silja Symphony being out of operations due to upgrade works for two weeks in
October. Despite the slight decline in passenger numbers we maintained our
market share on the Finland-Sweden route. The Latvia-Sweden route showed a
decline with passenger’s numbers decreasing by 32.2%, cargo units transported
decreased by 58.8%, passenger vehicles transported decreased by 36.9% and the
segment revenue decreased by 35.1%. The results were affected by Romantika
changing to Tallinn-Stockholm route, leaving Isabelle as the only operating
vessel on the route. The 119.5% higher revenues from charters altogether EUR
16.2 million and lower cost had a positive effect to the fourth quarter result.
The Group was successful in lowering fuel cost in the fourth quarter by
approximately EUR 9 million compared to the same period last year. This was a
combined effect of reducing consumption through optimising current operations,
by way of re-routings and charters and the drop in fuel global prices in the
end of the 2014 financial year. The Group had a smooth transition switching to
the low sulphur fuel in the end of the fourth quarter.
The unstable macro-economic situation in Europe has had a negative impact to
the Group’s operations. The decline in the passenger volume from the Russian
market has been visible throughout the year.
The Group successfully continued the deleveraging strategy and the net debt
decreased by EUR 44 million to a total of EUR 678 million in the 2014 financial
year.
The total liquidity, cash and unused credit facilities at the end of the fourth
quarter were EUR 67.9 million providing a strong position for sustainable
operations. At the end of the fourth quarter 2014 the Group had EUR 65.3
million in cash and equivalents and the total of unused credit lines were at
EUR 2.6 million.
The 2014 financial year result did not meet the management’s expectations,
however the fourth quarter result was strong and provides a good base for the
forthcoming year. Due to increased competition, continuously weak Nordic
economic environment and one-off effects the annual results for the 2014
financial year were weaker than expected. During the financial year several
steps have been taken including charters, upgrades and re-routings with the
goal to optimise operations. A positive effect to the profitability can be seen
from the fourth quarter result. The management expects an improvement in the
results for the 2015 financial year.
In management’s opinion, the Group’s financial position allows the Group to pay
dividends. Management will propose to the shareholders’ general meeting a
dividend distribution of EUR 0.02 per share, i.e. EUR 13,397,641 in aggregate.
Q4 KEY FIGURES 2014 2013 Change
Oct-Dec Oct-Dec
----------------------------------------------------------
Revenue EUR million 224.1 224.0 0.1%
--------------------------------------------------------------------------------
Gross profit EUR million 49.5 37.1 33.4%
--------------------------------------------------------------------------------
Gross margin (%) 22.1% 16.6%
--------------------------------------------------------------------------------
EBITDA EUR million 41.1 29.8 37.7%
--------------------------------------------------------------------------------
EBITDA margin (%) 18.3% 13.3%
--------------------------------------------------------------------------------
Net profit for the EUR million 8.4 7.5 11.5%
period
--------------------------------------------------------------------------------
Net profit margin (%) 3.7% 3.4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation and EUR million 20.9 18.6 12.0%
amortization
--------------------------------------------------------------------------------
Investments EUR million 18.1 5.0 265.6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of ordinary shares 669 882 040 669 882 040
outstanding
--------------------------------------------------------------------------------
Earnings per share EUR 0.01 0.01 11.5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2 051 410 2 148 204 -4.5%
--------------------------------------------------------------------------------
Number of cargo units 77 816 78 771 -1.2%
--------------------------------------------------------------------------------
Average number of 6 715 6 898 -2.7%
employees
--------------------------------------------------------------------------------
----------------------------------------------- -------
--------------------------
31.12.2014 30.09.2014
--------------------------------------------------------------------------------
Total assets EUR million 1 685.6 1 688.4 -0.2%
--------------------------------------------------------------------------------
Interest-bearing EUR million 743.4 770.9 -3.6%
liabilities
--------------------------------------------------------------------------------
Net debt EUR million 678.1 704.8 -3.8%
--------------------------------------------------------------------------------
Total equity EUR million 778.3 770.1 1.1%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Equity ratio (%) 46.2% 45.6%
--------------------------------------------------------------------------------
Net debt to EBITDA 4.5 5.1
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of ordinary 669 882 040 669 882 040 0%
shares outstanding1
--------------------------------------------------------------------------------
Shareholders’ equity per EUR 1.16 1.15 0.7%
share
--------------------------------------------------------------------------------
EBITDA: Earnings before net financial items, taxes, depreciation and
amortization;
Earnings per share: net profit / weighted average number of shares outstanding;
Equity ratio: total equity / total assets;
Shareholder’s equity per share: shareholder’s equity / number of shares
outstanding;
Gross margin: gross profit / net sales;
EBITDA margin: EBITDA / net sales;
Net profit margin: net profit / net sales;
Net debt: Interest bearing liabilities less cash and cash equivalents;
Net debt to EBITDA: Net debt / 12-months trailing EBITDA.
1 Share numbers exclude own shares.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of 01.10.2014- 01.10.2013- 01.01.2014- 01.01.2013-
euros)
31.12.2014 31.12.2013 31.12.2014 31.12.2013
================================================================================
Revenue 224,141 223,982 921,466 941,983
Cost of sales -174,619 -186,859 -739,626 -751,827
Gross profit 49,522 37,123 181,840 190,156
--------------------------------------------------------------------------------
Marketing expenses -15,702 -13,650 -62,585 -63,292
Administrative expenses -13,870 -12,679 -49,443 -45,148
Other income 709 1,035 1,696 2,120
Other expenses -496 -664 -854 -805
--------------------------------------------------------------------------------
Result from operating 20,163 11,165 70,654 83,031
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 4,623 5,757 11,760 21,547
Finance costs -19,059 -14,538 -52,443 -57,503
Share of profit/-loss from 24 17 24 17
equity accounted investees
Profit/-loss before income 5,751 2,401 29,995 47,092
tax
--------------------------------------------------------------------------------
Income tax 2,633 5,117 -2,734 -3,786
--------------------------------------------------------------------------------
Net profit/-loss for the 8,384 7,518 27,261 43,306
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Items that may be
reclassified to profit or
loss
Exchange differences on 242 34 286 114
translating foreign
operations
Other comprehensive 242 34 286 114
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive 8,626 7,552 27,547 43,420
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Earnings per share (in EUR
per share)
- basic 0.01 0.01 0.04 0.06
- diluted 0.01 0.01 0.04 0.06
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of euros)
ASSETS 31.12.2014 31.12.2013
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 65,311 72,012
Trade and other receivables 38,210 40,544
Prepayments 5,448 3,185
Derivatives 0 679
Inventories 31,315 33,457
Total current assets 140,284 149,877
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in equity-accounted investees 286 262
Other financial assets 252 385
Deferred income tax assets 21,338 17,413
Investment property 300 300
Property, plant and equipment 1,467,964 1,495,895
Intangible assets 55,174 57,925
---------------------------------------------------------
Total non-current assets 1,545,314 1,572,180
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,685,598 1,722,057
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 149,850 106,014
Trade and other payables 92,536 97,387
Deferred income 29,408 28,315
Derivatives 41,982 30,888
Total current liabilities 313,776 262,604
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 593,532 688,327
Other liabilities 0 63
--------------------------------------------------------------------------------
Total non-current liabilities 593,532 688,390
--------------------------------------------------------------------------------
TOTAL LIABILITIES 907,308 950,994
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,290 404,290
Share premium 639 639
Reserves 70,129 70,111
Retained earnings 303,232 296,023
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 778,290 771,063
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 778,290 771,063
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,685,598 1,722,057
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of euros) 01.01.2014 - 01.01.2013-
31.12.2014 31.12.2013
Cash flows from operating activities
Net profit/-loss for the period 27,261 43,306
Adjustments 124,329 118,619
Changes in receivables and prepayments related to -2,291 4,229
operating activities
Changes in inventories 2,142 -4,031
Changes in liabilities related to operating -803 6,649
activities
Income tax paid/repaid 71 -378
--------------------------------------------------------------------------------
150,709 168,394
--------------------------------------------------------------------------------
------------------------------------------------------
Cash flow used for investing activities
Purchase of property, plant and equipment and -49,148 -43,291
intangible assets
Proceeds from disposals of property, plant and 215 1,318
equipment
Interest received 140 114
--------------------------------------------------------------------------------
-48,793 -41,859
--------------------------------------------------------------------------------
------------------------------------------------------
Cash flow from (+)/ used for (-) financing activities
Proceeds from loans 0 24,000
Redemption of loans -89,842 -198,126
Change in overdraft 43,993 18,456
Proceeds from bonds 0 115,487
Repayment of finance lease liabilities -75 -96
Interest paid -33,270 -32,439
Payments for settlement of derivatives -3,985 -4,451
Payment of transaction costs related to loans 0 -557
Dividends paid -20,096 -33,494
Income tax on dividends paid -5,342 -8,903
-108,617 -120,123
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW -6,701 6,412
--------------------------------------------------------------------------------
------------------------------------------------------ ------------
Cash and cash equivalents:
- at the beginning of period 72,012 65,600
- increase (+) / decrease (-) -6,701 6,412
--------------------------------------------------------------------------------
Cash and cash equivalents at the end of period 65,311 72,012
--------------------------------------------------------------------------------
Harri Hanschmidt
Head of the Finance Department
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]