Börsiteade
AS TALLINNA SADAM
LEI kood
25490093MDYISEP1Y539
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Elektrienergia, gaasi, auru ja konditsioneeritud õhuga varustamine, Veondus ja laondus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
7817
Manused
Esitamise kuupäev ja aeg
28.02.2020 09:00:00
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Pealkiri
ASi Tallinna Sadam 2019. a IV kvartali ja 12 kuu majandustulemused
Teade
2019. aasta IV kvartalis kasvasid nii Tallinna Sadama müügitulu kui ka korrigeeritud EBITDA. Müügitulu moodustas IV kvartalis 30,0 mln eurot kasvades 1,5% ja korrigeeritud EBITDA oli 14,8 mln eurot kasvades 1,1%. Aasta kokkuvõttes oli müügitulu 130,5 mln eurot ja korrigeeritud EBITDA 74,3 miljonit eurot, mõlemad vähenesid 0,1% jäädes eelmise aasta tasemele. Aasta kasumiks kujunes aga kõigi aegade rekordiline 44,4 mln eurot, mis ületas eelneva aasta kasumit 20,0 mln euro võrra seoses dividendide tulumaksukulu vähenemisega, kuna 2018. aastal maksis ettevõte erakordselt suures mahus dividende summas 105 mln eurot. Tallinna Sadama juhatuse esimehe Valdo Kalmu sõnul kujunes 2019. aasta Tallinna Sadama jaoks taaskord sündmusterohkeks ja erisuunalised muutused mõjutasid ka ettevõtte finantstulemusi, mis siiski lõppkokkuvõttes ulatusid eduka 2018. aasta kõrge tasemeni ja tänu tugevale neljandale kvartalile saavutati ka aasta kasumis kõigi aegade rekord. ?Aasta tulemusse andsid olulise panuse reisijate arvu rekord, Muuga-Vuosaari liini hoogne areng, hea teravilja-aasta toel puistlasti mahtude kasv, jäämurdja Botnica pikem suvetöö periood Põhja-Kanadas ja suveperioodil Saaremaa liinil sõitnud lisalaeva reisidelt saadud tulu. Teisalt survestasid tulemusi vedellasti mahtude kõikumine ja üldine langus ning mitmete reisilaevade korralised dokitööd aasta alguses," selgitas Kalm. Tallinna Sadam tutvustab kontserni finantstulemusi 28. veebruaril kell 11:00 toimuval ingliskeelsel veebiseminaril, millel osalemiseks saab registreeruda siin (https://register.gotowebinar.com/register/8570557201970327820). Peamised finantsnäitajad (mln EUR): IV kv IV kv +/- 2019 2018 +/- 2019 2018 Müügitulu 30,0 29,6 1,5% 130,5 130,6 -0,1% Korrigeeritud EBITDA 14,8 14,7 1,1% 74,3 74,4 -0,1% Korrigeeritud EBITDA marginaal 49,5% 49,7% -0,2 56,9% 56,9% 0,0 Ärikasum 9,1 9,0 0,8% 51,7 52,1 -0,8% Tulumaks 0,0 0,1 -100,0% -5,8 -26,2 -78,0% Perioodi kasum 8,5 8,6 -1,7% 44,4 24,4 81,8% Investeeringud 10,7 6,1 74,2% 29,5 14,3 106,9% 31.12.2019 31.12.2018 +/- Varade maht 625,5 623,6 0,3% Intressi kandvad võlakohustused 207,8 213,6 -2,7% Muud kohustused 40,7 42,4 -4,0% Omakapital 377,0 367,7 2,5% Aktsiate arv 263,0 263,0 0,0% Müügitulu Müügitulu kasvas 2019. aasta IV kvartalis 0,4 mln eurot ehk 1,5% ning vähenes aasta kokkuvõttes 0,1 mln eurot ehk 0,1%, aasta müügitulu kokku oli 130,5 mln eurot. Aasta kokkuvõttes toimus kõige suurem muutus kaubasadamate segmendis, kus müügitulu langes 1,6 mln eurot ehk 3,8% seoses vedellasti kaubamahu langusega, mida teisalt tasakaalustasid puistlasti mahtude kasv ja Muuga-Vuosaari liinile uue laeva lisandumine teisel poolaastal. Reisisadamate segmendi müügitulu püsis aasta kokkuvõttes stabiilne tänu liini- ja kruiisireisijate arvu kasvule ning hoolimata mitmete reisilaevade korralistele dokitöödele aasta alguses. Reisiparvlaevade segmendis kasvas müügitulu peamiselt seoses Eesti tarbija- ja kütusehinnaindeksite tõusust tingitud kõrgemate tasumääradega. Muu segmendi müügitulu suurenemine tulenes peamiselt jäämurdja Botnica pikemast suvetöö perioodist ja tasumäärade indekseerimisest inflatsiooniindeksiga nii talvise jäämurde kui suvetöö puhul. EBITDA IV kvartalite võrdluses kasvas korrigeeritud EBITDA 0,2 mln euro võrra (1,1%). Aasta kokkuvõttes jäi näitaja eelneva aasta tasemele, vähenedes 0,1% 74,3 mln euroni. Korrigeeritud EBITDA marginaal püsis 56,9%-l. Kasum Väiksema tulumaksukulu mõjul kujunes 2019. aasta kasum summas 44,4 mln eurot läbi aegade rekordiliseks ja ületas 20,0 mln euro võrra 2018. aasta kasumit. IV kvartali tulemuseks oli kasum summas 8,5 mln eurot. Kasum enne tulumaksu vähenes 2019. aastal 0,5 mln eurot ehk 0,9% 50,2 mln euroni. IV kvartali tulumaksueelne kasum vähenes 0,1 mln eurot. Tulumaksukulu vähenes 20,4 mln eurot seoses väiksema dividendisummaga (35 mln eurot) võrreldes 2018. aasta rekordilise summaga (105 mln eurot). Investeeringud 2019. aasta IV kvartali investeeringute summaks kujunes 10,7 mln eurot, aasta kokkuvõttes tegi kontsern investeeringuid summas 29,5 mln eurot. See on üle kahe korra rohkem kui eelmisel aastal (2018: 14,3 mln eurot). 2019. aasta investeeringud olid jätkuvalt seotud peamiselt Vanasadamaga, kus jätkus reisiterminali D rekonstrueerimine, kaldaelektrivarustuse rajamine reisilaevadele ning kaasfinantseeriti Reidi tee ehitust. Paldiski Lõunasadamas teostati süvendustöid sissesõidukanalil ja sadama akvatooriumil, Muuga sadamas rekonstrueeriti kaisid ning varustustrasse, jäämurdjal Botnica uuendati masina- ja muid tehnilisi süsteeme, reisiparvlaevadel teostati korralisi dokitöid ning ehitati ümber teeninduspindu. Lühendatud konsolideeritud finantsseisundi aruanne: tuhandetes eurodes 31.12.2019 31.12.2018 ---------------------------------------------------------------- VARAD Käibevara Raha ja raha ekvivalendid 35 183 42 563 Nõuded ostjate vastu ja muud nõuded 10 614 8 017 Varud 408 305 Müügiootel põhivara 142 0 Käibevara kokku 46 347 50 885 Põhivara Investeeringud sidusettevõtetesse 1 609 1 569 Muud pikaajalised nõuded 294 196 Materiaalne põhivara 575 267 568 965 Immateriaalne põhivara 2 015 2 024 Põhivara kokku 579 185 572 754 ---------------------------------------------------------------- Varad kokku 625 532 623 639 ---------------------------------------------------------------- KOHUSTISED Lühiajalised kohustised Võlakohustised 16 266 15 766 Tuletisinstrumendid 243 425 Eraldised 1 915 1 957 Sihtfinantseerimine 193 174 Maksuvõlad 893 5 844 Võlad tarnijatele ja muud võlad 11 755 9 517 Lühiajalised kohustised kokku 31 265 33 683 ---------------------------------------------------------------- Pikaajalised kohustised Võlakohustised 191 580 197 846 Sihtfinantseerimine 24 754 23 418 Muud võlad 915 1 018 Pikaajalised kohustised kokku 217 249 222 282 ---------------------------------------------------------------- Kohustised kokku 248 514 255 965 ---------------------------------------------------------------- OMAKAPITAL Aktsiakapital nimiväärtuses 263 000 263 000 Ülekurss 44 478 44 478 Kohustuslik reservkapital 18 520 18 520 Riskimaandamise reserv -243 -425 Eelmiste perioodide jaotamata kasum 6 859 17 678 Perioodi kasum 44 404 24 423 ---------------------------------------------------------------- Omakapital kokku 377 018 367 674 ---------------------------------------------------------------- Kohustised ja omakapital kokku 625 532 623 639 ---------------------------------------------------------------- Lühendatud konsolideeritud kasumiaruanne tuhandetes eurodes IV kv 2019 IV kv 2018 2019 2018 ------------------------------------------------------------------------------- Müügitulu 30 005 29 572 130 536 130 635 Muud tulud 229 158 1 017 816 Tegevuskulud -9 212 -9 347 -36 669 -37 360 Tööjõukulud -5 740 -5 508 -19 867 -19 420 Põhivara kulum ja väärtuse langus -6 125 -5 829 -23 037 -22 345 Muud kulud -77 -34 -301 -251 Ärikasum 9 080 9 012 51 679 52 075 ------------------------------------------------------------------------------- Finantstulud ja -kulud Finantstulud 13 20 42 33 Finantskulud -463 -464 -1 797 -2 003 Finantstulud ja -kulud kokku -450 -444 -1 755 -1 970 ------------------------------------------------------------------------------- Kapitaliosaluse meetodil arvestatud kasum investeeringutelt sidusettevõttesse -173 -18 244 517 Kasum enne tulumaksustamist 8 457 8 550 50 168 50 622 ------------------------------------------------------------------------------- Tulumaks 0 51 -5 764 -26 199 Perioodi kasum 8 457 8 601 44 404 24 423 ------------------------------------------------------------------------------- sh emaettevõtja omanike osa perioodi kasumist 8 457 8 601 44 404 24 423 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Tava ja lahjendatud puhaskasum aktsia kohta (eurodes) 0,03 0,03 0,17 0,11 Tava ja lahjendatud puhaskasum aktsia kohta - jätkuvad tegevused (eurodes) 0,03 0,03 0,17 0,11 ------------------------------------------------------------------------------- Lühendatud konsolideeritud rahavoogude aruanne: tuhandetes eurodes 2019 2018 -------------------------------------------------------------------------- Kaupade või teenuste müügist laekunud raha 138 690 138 746 Muude tulude eest laekunud raha 193 104 Muud laekumised 0 2 600 Maksed tarnijatele -47 210 -46 260 Maksed töötajatele ja töötajate eest -16 892 -16 461 Maksed muude kulude eest -377 -366 Makstud tulumaks dividendidelt -10 985 -21 250 Äritegevusest laekunud raha 63 419 57 113 -------------------------------------------------------------------------- Materiaalse põhivara soetamine -27 965 -11 941 Immateriaalse põhivara soetamine -550 -618 Materiaalse põhivara müük 39 12 Saadud dividendid 204 204 Saadud intressid 28 18 Investeerimistegevuses kasutatud raha -28 244 -12 325 -------------------------------------------------------------------------- Aktsiakapitali sissemaksed 0 119 883 Võlakirjade lunastamine -9 000 -12 650 Saadud laenud 10 000 0 Saadud laenude tagasimaksed -6 766 -6 766 Arvelduskrediidi (kohustis) muutus 0 -2 565 Kapitalirendi põhiosa tagasimaksed 0 -7 Makstud dividendid -34 970 -105 000 Makstud intressid -1 769 -2 023 Muud finantseerimistegevusest tulenevad maksed -50 -51 Finantseerimistegevuses(t) laekunud/kasutatud raha -42 555 -9 179 -------------------------------------------------------------------------- RAHAVOOG KOKKU -7 380 35 609 -------------------------------------------------------------------------- Raha ja raha ekvivalendid perioodi alguses 42 563 6 954 Raha ja raha ekvivalentide muutus -7 380 35 609 Raha ja raha ekvivalendid perioodi lõpus 35 183 42 563 -------------------------------------------------------------------------- Tallinna Sadamale kuulub üks Läänemere suurimaid kauba- ja reisisadamate komplekse, mida läbis 2019. a 10,64 miljonit reisijat ja 19,9 miljonit tonni kaupa. Lisaks reisijate ja kaubavedude teenindamisele tegutseb ettevõte laevanduse ärivaldkonnas läbi oma tütarettevõtete - OÜ TS Laevad korraldab parvlaevaühendust Eesti mandri ja suursaarte vahel ning OÜ TS Shipping osutab multifunktsionaalse jäämurdjaga Botnica jäämurde ja konstruktsioonilaeva teenust Eestis ja offshore projektides. Tallinna Sadama gruppi kuulub ka jäätmekäitlusega tegelev sidusettevõte AS Green Marine. Lisainfo: Marju Zirel Investorsuhete juht [email protected] (mailto:[email protected])
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Pealkiri
AS Tallinna Sadam financial results for 2019 Q4 and 12 months
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In Q4 2019, of the revenue and the adjusted EBITDA of AS Tallinna Sadam (hereafter: "the Group") increased. Revenue amounted to EUR 30.0 million increasing by 1.5% in Q4 and the adjusted EBITDA was EUR 14.8 million increasing by 1.1%. In 2019, the annual revenue was EUR 130.5 million and adjusted EBITDA amounted to EUR 74.3 million, both decreasing by 0.1% staying to the level of previous year. However, the profit for the year was an all-time record of EUR 44.4 million, exceeding the previous year's profit by EUR 20.0 million due to lower dividend income tax expenses, as in 2018 the Group paid an extraordinarily large amount of dividends of EUR 105 million. According to Valdo Kalm, Chairman of the Management Board, the year 2019 was another eventful year for Tallinna Sadam and the divergent changes also influenced the financial results of the Group, which ultimately reached a high level of successful year 2018 and, thanks to a strong Q4, also achieved an all- time record in annual profit. "Passenger record, the rapid development of the Muuga-Vuosaari line, the increase in dry bulk volumes supported by a good grain season, the longer summer work period of the icebreaker Botnica in northern Canada and the revenue from the trips of the additional ferry on the Saaremaa route in summer contributed significantly to the annual results. On the other hand, the results were pressured by fluctuations and general drop in liquid cargo volumes and regular docking of several passenger vessels at the beginning of the year," Kalm explained. According to Valdo Kalm, Chairman of the Management Board, the increase in the Group's revenue in Q4 as well as during the year was mainly influenced by the work of multifunctional icebreaker Botnica as an escort and ice management vessel in the northern part of Canada from June to November; and the growth of liquid cargo volumes and revenues. "The revenue from the trips of the additional ferry on the Saaremaa route in summer also contributed significantly to the annual results," Kalm explained. Tallinna Sadam will present the financial results of the Group at a webinar on 28 February at 11:00 EET, to attend, please register here (https://register.gotowebinar.com/register/8570557201970327820). The webinar will be held in English. Key figures (in million EUR): Q4 Q4 +/- 2019 2018 +/- 2019 2018 Revenue 30.0 29.6 1.5% 130.5 130.6 -0.1% Adjusted EBITDA 14.8 14.7 1.1% 74.3 74.4 -0.1% Adjusted EBITDA margin 49.5% 49.7% -0.2 56.9% 56.9% 0.0 Operating profit 9.1 9.0 0.8% 51.7 52.1 -0.8% Income tax 0.0 0.1 -100.0% -5.8 -26.2 -78.0% Profit for the period 8.5 8.6 -1.7% 44.4 24.4 81.8% Investments 10.7 6.1 74.2% 29.5 14.3 106.9% 31.12.2019 31.12.2018 +/- Total assets 625.5 623.6 0.3% Interest bearing debt 207.8 213.6 -2.7% Other liabilities 40.7 42.4 -4.0% Equity 377.0 367.7 2.5% Number of shares 263.0 263.0 0.0% Revenue Revenue for Q4 of 2019 grew by EUR 0.4 million, i.e. 1.5%, year on year but annual revenue decreased by EUR 0.1 million, i.e. 0.1%, to EUR 130.5 million. In 2019, in terms of segments, the most significant annual revenue change was in the Cargo harbours segment where revenue declined by EUR 1.6 million, i.e. 3.8%, attributable to a decline in the volume of liquid bulk cargo, which on the other hand was offset by the increase in dry bulk volumes and the addition of a new vessel to the Muuga-Vuosaari line in the second half of the year. The revenue of the Passenger harbours segment remained at the same level as in 2018 due to increase in line- and cruise passenger volumes and despite of the regular dry docking of several passenger ships at the beginning of the year. The revenue of the Ferry segment grew, mainly due to changes in the contractual fee rates, which are linked to the Estonian consumer and fuel price indices and wage inflation. The revenue of the segment Other increased, mostly due to longer charter period during the summer season and the indexation of the ice-breaking and charter fees to the inflation index, regarding both winter and summer period works. EBITDA Adjusted EBITDA for Q4 grew by EUR 0.2 million, i.e. 1.1% year on year. The annual adjusted EBITDA remained at the level of 2018, decreasing by EUR 0.1 million to EUR 74.3 million, i.e. by 0.1%. The adjusted EBITDA margin remained stable at 56.9%. Profit Due to lower income tax expense, profit for 2019 reached an all-time high of EUR 44.4 million, exceeding profit for 2018 by EUR 20.0 million. Net profit for Q4 amounted to EUR 8.5 million. Profit before tax decreased by EUR 0.5 million, i.e. 0.9%, to EUR 50.2 million in 2019. Profit before tax for the fourth quarter decreased by EUR 0.1 million year on year. Income tax expense decreased by EUR 20.4 million because in 2018 the Group declared a record dividend of EUR 105 million compared with EUR 35.2 million in 2019. Investments In Q4, capital investments totalled EUR 10.7 million. In 2019, the Group's capital investments totalled EUR 29.5 million. This is more than twice the amount invested in 2018, when investments amounted to EUR 14.3 million. Investments of 2019 were mainly related to the Old City Harbour, where work continued on the reconstruction of passenger terminal D and the installation of on-shore power supply systems for passenger ships, and the Group co-financed the construction of the road Reidi tee. Dredging works were carried out in the approach canal and waters of the Paldiski South Harbour, quays and supplier routes were reconstructed at Muuga harbour, machinery and technical systems were renewed on board of the icebreaker Botnica, and scheduled dry docking work was done and service areas were rebuilt on the ferries. Interim condensed consolidated statement of financial position: In thousands of euros 31 December 2019 31 December 2018 -------------------------------------------------------------------------- ASSETS Current assets Cash and cash equivalents 35,183 42,563 Trade and other receivables 10,614 8,017 Inventories 408 305 Non-current assets held for sale 142 0 -------------------------------------------------------------------------- Total current assets 46,347 50,885 -------------------------------------------------------------------------- Non-current assets Investments in associates 1,609 1,569 Other long-term receivables 294 196 Property, plant and equipment 575,267 568,965 Intangible assets 2,015 2,024 Total non-current assets 579,185 572,754 -------------------------------------------------------------------------- Total assets 625,532 623,639 -------------------------------------------------------------------------- LIABILITIES Current liabilities Loans and borrowings 16,266 15,766 Derivative financial instruments 243 425 Provisions 1,915 1,957 Government grants 193 174 Taxes payable 893 5,844 Trade and other payables 11,755 9,517 Total current liabilities 31,265 33,683 -------------------------------------------------------------------------- Non-current liabilities Loans and borrowings 191,580 197,846 Government grants 24,754 23,418 Other payables 915 1,018 Total non-current liabilities 217,249 222,282 -------------------------------------------------------------------------- Total liabilities 248,514 255,965 -------------------------------------------------------------------------- EQUITY Share capital at par value 263,000 263,000 Share premium 44,478 44,478 Statutory capital reserve 18,520 18,520 Hedge reserve -243 -425 Retained earnings (prior periods) 6,859 17,678 Profit for the period 44,404 24,423 -------------------------------------------------------------------------- Total equity 377,018 367,674 -------------------------------------------------------------------------- Total liabilities and equity 625,532 623,639 -------------------------------------------------------------------------- Interim condensed consolidated statement of profit or loss: In thousands of euros Q4 2019 Q4 2018 2019 2018 ------------------------------------------------------------------------------- Revenue 30,005 29,572 130,536 130,635 Other income 229 158 1,017 816 Operating expenses -9,212 -9,347 -36,669 -37,360 Personnel expenses -5,740 -5,508 -19,867 -19,420 Depreciation, amortisation and impairment -6,125 -5,829 -23,037 -22,345 Other expenses -77 -34 -301 -251 Operating profit 9,080 9,012 51,679 52,075 ------------------------------------------------------------------------------- Finance income and costs Finance income 13 20 42 33 Finance costs -463 -464 -1,797 -2,003 Finance costs - net -450 -444 -1,755 -1,970 ------------------------------------------------------------------------------- Share of profit of an associate accounted for under the equity method -173 -18 244 517 Profit before income tax 8,457 8,550 50,168 50,622 ------------------------------------------------------------------------------- Income tax 0 51 -5,764 -26,199 Profit for the period 8,457 8,601 44,404 24,423 ------------------------------------------------------------------------------- Attributable to owners of the Parent 8,457 8,601 44,404 24,423 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Basic and diluted earnings per share (in euros) 0.03 0.03 0.17 0.11 Basic and diluted earnings per share - continuing operations (in euros) 0.03 0.03 0.17 0.11 ------------------------------------------------------------------------------- Interim condensed consolidated statement of cash flows: In thousands of euros 2019 2018 ---------------------------------------------------------------------------- Cash receipts from sale of goods and services 138,690 138,746 Cash receipts related to other income 193 104 Other receipts 0 2,600 Payments to suppliers -47,210 -46,260 Payments to and on behalf of employees -16 892 -16,461 Payments for other expenses -377 -366 Income tax paid on dividends -10,985 -21,250 Cash from operating activities 63,419 57,113 ---------------------------------------------------------------------------- Purchases of property, plant and equipment -27,965 -11,941 Purchases of intangible assets -550 -618 Proceeds from sale of property, plant and equipment 39 12 Dividends received 204 204 Interest received 28 18 Cash used in investing activities -28,244 -12,325 ---------------------------------------------------------------------------- Contributions to share capital 0 119,883 Redemption of debt securities -9,000 -12,650 Loans received 10,000 0 Repayments of loans received -6,766 -6,766 Change in overdraft (liability) 0 -2,565 Repayments of finance lease principal 0 -7 Dividends paid -34,970 -105,000 Interest paid -1,769 -2,023 Other payments related to financing activities -50 -51 Cash from/used in financing activities -42,555 -9,179 ---------------------------------------------------------------------------- NET CASH FLOW -7,380 35,609 ---------------------------------------------------------------------------- Cash and cash equivalents at beginning of the period 42,563 6,954 Change in cash and cash equivalents -7,380 35,609 Cash and cash equivalents at end of the period 35,183 42,563 ---------------------------------------------------------------------------- Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2019 serviced 10.64 million passengers and 19.9 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries - OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services. Tallinna Sadam group's sales in 2019 totalled EUR 130.5 million, adjusted EBITDA EUR 74.3 million and net profit EUR 44.4 million. Additional information: Marju Zirel Head of Investor Relations AS Tallinna Sadam [email protected] (mailto:[email protected])