Börsiteade
AS Tallink Grupp
Kategooria
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Manused
Kuupäev
25.01.2008 16:48:58
Pealkiri
2007/2008 majandusaasta I kvartali majandustulemused
Teade
Eelmise majandusaasta üks tähtsamaid projekte, uus broneerimis- ja registreerimissüsteem, käivitati oktoobris 2007. Käesoleva majandusaasta esimeses kvartalis keskendusid AS Tallink Grupp ja tema tütarettevõtted (edaspidi „Kontsern“) eelkõige uue broneerimissüsteemi kasutuselevõtuga seotud tegevustele. Kontserni kõige uuem investeering, uue generatsiooni kiire reisilaev M/L Star, opereeris oma esimest sügishooaega pakkudes innovatiivset Shuttle` teenust Tallinn-Helsingi liinil. Star`i kiirus, stabiilne sõidugraafik ja täiustatud teenused laeval on olulisteks eelisteks vanemat tüüpi kiirlaevade ees. Star`i positiivset mõju on näha kasvanud reisijatearvus ja liini tulemustes. 2007/2008 majandusaasta esimeses kvartalis mõjutas Kontserni tulemusi uue, ühtse broneerimissüsteemi kasutuselevõtt. Sellest tulenevalt ei rakendunud broneerimis- ja müügitegevus maksimaalsetel võimsustel, sest ressursi kasutamist häirisid tehnilised takistused. Broneerimissüsteem ei ole uus töövahend mitte ainult Kontserni müügitöötajatele, vaid ka meie partneritele ja klientidele, kellel on vaja kohaneda uue süsteemi võimalustega, mis on võrreldes Kontserni eelmiste broneerimissüsteemidega palju ulatuslikumad. Kuigi uue süsteemi kasutuselevõtu mõju reisijate arvule ei ole veel möödas, näeme juba praegu paranemist soovitud broneeringutasemete suunas, sest kasutajad on hakanud üha enam realiseerima uue süsteemi poolt pakutavaid võimalusi ja potentsiaali. Kõrgete kütusehindade ja intressimäärade ning ka uue broneerimissüsteemi käivitamise olukorras võib Kontserni esimese kvartali tulemust pidada pigem positiivseks. Meie peamiste liinide marginaalid ja mitmed võtmenäitajad, kaasa-arvatud käive reisija kohta, on suurenenud. Ettevõtte äritegevuse viimastele arengutele, tulevastele uutele laevadele ja laevastiku muudatustele aga ka maailmaturu kütusehindade ja intressimäärade langemise märkidele toetudes ootab juhatus Kontserni järgmise üheksa kuu aruandlusperioodil positiivseid arenguid äritegevuses ettevõtte eesmärkide saavutamiseks. 1 KVARTALI PÕHINÄITAJAD -------------------------------------------------------------------------------- | | 01.09.2007-30.11.2007| 01.09.2006-30.11.2006| muutus % | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Müügitulu (miljon) | 2,920.1 | 186.6 | 2,976.9 | 190.3 | -1.9 | -------------------------------------------------------------------------------- | Brutokasum | 649.5 | 41.5 | 724.0 | 46.3 | -10.3 | -------------------------------------------------------------------------------- | Brutokasumi | 22.2 | | 24.3 | | | | marginaal | | | | | | -------------------------------------------------------------------------------- | EBITDA (miljon) | 453.1 | 29.0 | 519.2 | 33.2 | -12.7 | -------------------------------------------------------------------------------- | EBITDA marginaal | 15.5% | | 17.4 | | | | (%) | | | | | | -------------------------------------------------------------------------------- | Aruandeperioodi | 2.6 | 0.2 | 114.6 | 7.3 | -97.7 | | puhaskasum(miljon) | | | | | | -------------------------------------------------------------------------------- | Aruande perioodi | 0.1 | | 4.6 | | | | puhaskasumi | | | | | | | marginaal (%) | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Amortisatsioon | 233.6 | 14.9 | 253.2 | 16.2 | -7.8 | | (miljon) | | | | | | -------------------------------------------------------------------------------- | Investeeringud | 445.5 | 28.5 | 247.6 | 15.8 | 80.0 | | (miljon) | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsiate kaalutud | 673,817,040 | 673,817,040 | 0.0 | | keskmine arv 1 | | | | | kvartalil | | | | -------------------------------------------------------------------------------- | Aktsiakasum | 0.00 | 0.00 | 0.17 | 0.01 | -97.7 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Reisijate arv | 1,510,079 | 1,616,869 | -6.6 | -------------------------------------------------------------------------------- | Kaubaveo ühikud | 91,897 | 92,914 | -1.1 | -------------------------------------------------------------------------------- | Keskmine töötajate | 6,408 | 6,020 | 6.4 | | arv | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 30.11.2007 | 31.08.2007 | muutus % | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Varad kokku | 26,131.8 | 1,670.1 | 26,570.9 | 1,698.2 | -1.7 | | (miljon) | | | | | | -------------------------------------------------------------------------------- | Kohustused kokku | 15,991.0 | 1,022.0 | 16,436.0 | 1,050.4 | -2.7 | | (miljon) | | | | | | -------------------------------------------------------------------------------- | Intressikandvad | 14,463.4 | 924.4 | 14,831.7 | 947.9 | -2.5 | | kohustused (miljon) | | | | | | -------------------------------------------------------------------------------- | Omakapital kokku | 10,140.8 | 648.1 | 10,134.9 | 647.7 | 0.1 | | (miljon) | | | | | | -------------------------------------------------------------------------------- | Lühiajaliste | 0.498 | | 0.665 | | | | kohustuste | | | | | | | kattekordaja | | | | | | -------------------------------------------------------------------------------- | Omakapitali kordaja | 38.8 | | 38.1 | | | | (%) | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsiate arv | 673,817,040 | 673,817,040 | 0.0 | -------------------------------------------------------------------------------- | Omakapital aktsia | 15.05 | 0.96 | 15.04 | 0.96 | 0.1 | | kohta | | | | | | -------------------------------------------------------------------------------- Kontserni müügitulu 2007/2008 majandusaasta esimeses kvartalis (1. september 2007 - 30. november 2007) oli 2920,1 miljonit krooni (186,6 miljonit eurot) võrreldes 2976,9 miljoni krooniga (190,3 miljoni euroga) eelmise majandusaasta esimeses kvartalis. Langus esimese kvartali müügitulus tulenes peamiselt väiksemast reisijatearvust, mis oli mõjutatud madalamast müügitöö võimsusest uue broneerimissüsteemi juurutamise üleminekuperioodil. Kontserni brutokasum vähenes 74,6 miljoni krooni (4,8 miljoni krooni) võrra 649,5 miljonile kroonile (41,5 miljonile eurole), EBITDA vähenes 12,7% võrra 453,1 miljonile kroonile (29,0 miljonile eurole). Kontserni puhaskasum oli 2,6 miljonit krooni (0,2 miljonit eurot). Positiivselt mõjutas Kontserni tulemust uus kiirlaev Star, suurenenud pileti- ja kaubaveo müük. Lisaks väiksemale müügitulule avaldasid Kontserni kasumile negatiivset mõju kõrged kütusehinnad ning intressid. Võrreldes eelmise majandusaasta esimese kvartaliga olid kütusekulud ligi 110 miljoni krooni (7 miljoni euro) võrra suuremad. Kõrgete kütusehindade negatiivse mõju vähendamiseks lisandub alates 2008.a. jaanuarist laevapiletitele kütuse hinnalisa. KONSOLIDEERITUD KASUMIARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes kroonides) | 01.09.2007- | 01.09.2006 - | -------------------------------------------------------------------------------- | | 30.11.2007 | 30.11.2006 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 2,920,102 | 2,976,863 | -------------------------------------------------------------------------------- | Müüdud kauba ja teenuse kulu | -2,270,624 | -2,252,864 | -------------------------------------------------------------------------------- | Brutokasum | 649,478 | 723,999 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | -193,482 | -235,941 | -------------------------------------------------------------------------------- | Üldhalduskulud | -239,300 | -229,556 | -------------------------------------------------------------------------------- | Muud äritulud/-kulud | 2,817 | 7,427 | -------------------------------------------------------------------------------- | Negatiivne firmaväärtus | 0 | 689 | -------------------------------------------------------------------------------- | Finantstulud | 6,888 | 24,636 | -------------------------------------------------------------------------------- | Finantskulud | -223,774 | -176,708 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum enne tulumaksu | 2,627 | 114,546 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tulumaks | -3 | 55 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aruandeperioodi kasum | 2,624 | 114,601 | -------------------------------------------------------------------------------- | Sh. | Emaettevõtja aktsionäride osa kasumist | 2,624 | 114,601 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tava ja lahustatud kasum aktsia kohta | | | -------------------------------------------------------------------------------- | | (EEK-ides ühe aktsia kohta) | 0.00 | 0.17 | -------------------------------------------------------------------------------- KONSOLIDEERITUD KASUMIARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes eurodes) | 01.09.2007- | 01.09.2006 - | -------------------------------------------------------------------------------- | | 30.11.2007 | 30.11.2006 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 186,629 | 190,256 | -------------------------------------------------------------------------------- | Müüdud kauba ja teenuse kulu | -145,119 | -143,984 | -------------------------------------------------------------------------------- | Brutokasum | 41,510 | 46,272 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | -12,366 | -15,079 | -------------------------------------------------------------------------------- | Üldhalduskulud | -15,294 | -14,671 | -------------------------------------------------------------------------------- | Muud äritulud/-kulud | 180 | 474 | -------------------------------------------------------------------------------- | Negatiivne firmaväärtus | 0 | 44 | -------------------------------------------------------------------------------- | Finantstulud | 440 | 1,575 | -------------------------------------------------------------------------------- | Finantskulud | -14,302 | -11,294 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum enne tulumaksu | 168 | 7,321 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tulumaks | 0 | 3 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aruandeperioodi kasum | 168 | 7,324 | -------------------------------------------------------------------------------- | Sh. | | | -------------------------------------------------------------------------------- | | Emaettevõtja aktsionäride osa kasumist | 168 | 7,324 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tava ja lahustatud kasum aktsia kohta | | | -------------------------------------------------------------------------------- | | (EEK-ides ühe aktsia kohta) | 0.00 | 0.01 | -------------------------------------------------------------------------------- KONSOLIDEERITUD BILANSS (auditeerimata, tuhandetes kroonides) -------------------------------------------------------------------------------- | VARAD | 30.11.2007 | 31.08.2007 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Käibevara | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 658,356 | 1,303,609 | -------------------------------------------------------------------------------- | Nõuded | 851,556 | 815,093 | -------------------------------------------------------------------------------- | Ettemaksed | 71,370 | 124,134 | -------------------------------------------------------------------------------- | Tuletisinstrumendid | 1,994 | 1,799 | -------------------------------------------------------------------------------- | Varud | 282,513 | 272,352 | -------------------------------------------------------------------------------- | Käibevara kokku | 1,865,789 | 2,516,987 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Põhivara | | | -------------------------------------------------------------------------------- | Sidusettevõtete aktsiad ja osakud | 3,242 | 3,242 | -------------------------------------------------------------------------------- | Muud pikaajalised finantsinvesteeringud ja | 9,279 | 9,279 | | ettemaksed | | | -------------------------------------------------------------------------------- | Maksuvara | 153,278 | 153,102 | -------------------------------------------------------------------------------- | Kinnisvarainvesteering | 4,694 | 4,694 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 22,813,870 | 22,600,001 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 1,281,662 | 1,283,592 | -------------------------------------------------------------------------------- | Põhivara kokku | 24,266,025 | 24,053,910 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | VARAD KOKKU | 26,131,814 | 26,570,897 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 2,288,893 | 2,247,390 | -------------------------------------------------------------------------------- | Võlad hankijatele | 1,323,310 | 1,408,369 | -------------------------------------------------------------------------------- | Ettemakstud tulud | 136,131 | 121,008 | -------------------------------------------------------------------------------- | Tuletisinstrumendid | 1,421 | 7,980 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 3,749,755 | 3,784,747 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 12,174,480 | 12,584,261 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksukohustus | 63,463 | 63,463 | -------------------------------------------------------------------------------- | Pensionikohustus | 3,348 | 3,489 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 12,241,291 | 12,651,213 | -------------------------------------------------------------------------------- | Kohustused kokku | 15,991,046 | 16,435,960 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OMAKAPITAL | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv | | | | omakapital | | | -------------------------------------------------------------------------------- | Aktsiakapital nimiväärtuses | 6,738,170 | 6,738,170 | -------------------------------------------------------------------------------- | Ülekurss | 9,999 | 9,999 | -------------------------------------------------------------------------------- | Reservid | 1,206,198 | 1,202,991 | -------------------------------------------------------------------------------- | Jaotamata kasum | 2,186,401 | 2,183,777 | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv | 10,140,768 | 10,134,937 | | omakapital kokku | | | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 10,140,768 | 10,134,937 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 26,131,814 | 26,570,897 | -------------------------------------------------------------------------------- KONSOLIDEERITUD BILANSS (auditeerimata, tuhandetes eurodes) -------------------------------------------------------------------------------- | VARAD | 30.11.2007 | 31.08.2007 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Käibevara | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 42,077 | 83,315 | -------------------------------------------------------------------------------- | Nõuded | 54,424 | 52,094 | -------------------------------------------------------------------------------- | Ettemaksed | 4,561 | 7,934 | -------------------------------------------------------------------------------- | Tuletisinstrumendid | 127 | 115 | -------------------------------------------------------------------------------- | Varud | 18,056 | 17,407 | -------------------------------------------------------------------------------- | Käibevara kokku | 119,245 | 160,865 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Põhivara | | | -------------------------------------------------------------------------------- | Sidusettevõtete aktsiad ja osakud | 207 | 207 | -------------------------------------------------------------------------------- | Muud pikaajalised finantsinvesteeringud ja | 594 | 594 | | ettemaksed | | | -------------------------------------------------------------------------------- | Maksuvara | 9,796 | 9,785 | -------------------------------------------------------------------------------- | Kinnisvarainvesteering | 300 | 300 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 1,458,072 | 1,444,403 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 81,913 | 82,036 | -------------------------------------------------------------------------------- | Põhivara kokku | 1,550,882 | 1,537,325 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | VARAD KOKKU | 1,670,127 | 1,698,190 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 146,287 | 143,634 | -------------------------------------------------------------------------------- | Võlad hankijatele | 84,575 | 90,011 | -------------------------------------------------------------------------------- | Ettemakstud tulud | 8,700 | 7,734 | -------------------------------------------------------------------------------- | Tuletisinstrumendid | 91 | 510 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 239,653 | 241,889 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 778,091 | 804,281 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksukohustus | 4,056 | 4,056 | -------------------------------------------------------------------------------- | Pensionikohustus | 214 | 223 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 782,361 | 808,560 | -------------------------------------------------------------------------------- | Kohustused kokku | 1,022,014 | 1,050,449 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OMAKAPITAL | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv | | | | omakapital | | | -------------------------------------------------------------------------------- | Aktsiakapital nimiväärtuses | 430,648 | 430,648 | -------------------------------------------------------------------------------- | Ülekurss | 639 | 639 | -------------------------------------------------------------------------------- | Reservid | 77,089 | 76,885 | -------------------------------------------------------------------------------- | Jaotamata kasum | 139,737 | 139,569 | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv | 648,113 | 647,741 | | omakapital kokku | | | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 648,113 | 647,741 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 1,670,127 | 1,698,190 | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes kroonides) | 01.09.2007 - | 01.09.2006 - | -------------------------------------------------------------------------------- | | | 30.11.2007 | 30.11.2006 | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi kasum | 2,624 | 114,601 | -------------------------------------------------------------------------------- | Korrigeerimised | 458,235 | 404,612 | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete muutus | 15,150 | 347,793 | -------------------------------------------------------------------------------- | Äritegevusega seotud varude muutus | -10,161 | -2,134 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste muutus | -76,655 | -360,048 | -------------------------------------------------------------------------------- | Ettemakstud tulumaks | 640 | -226 | -------------------------------------------------------------------------------- | | 389,833 | 504,598 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse ja immateriaalse põhivara | -445,547 | -247,589 | | soetamine | | | -------------------------------------------------------------------------------- | Laekumised materiaalse põhivara müügist | 312 | 979 | -------------------------------------------------------------------------------- | Laekumised tuletistehingutest | -8,552 | 12,645 | -------------------------------------------------------------------------------- | Vähemusosa soetamine | 0 | -500 | -------------------------------------------------------------------------------- | Saadud intressid | 2,552 | 6,173 | -------------------------------------------------------------------------------- | | -451,235 | -228,292 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Aktsiate emiteerimisega seotud kulud | 0 | -6,520 | -------------------------------------------------------------------------------- | Laenude ja võlakirjade tagasimaksed | -424,012 | -471,367 | -------------------------------------------------------------------------------- | Kasutatud arvelduskrediidi muutus | 53,888 | 0 | -------------------------------------------------------------------------------- | Kapitalirendi põhimaksete tasumine | -4,991 | -10,098 | -------------------------------------------------------------------------------- | Makstud intressid | -208,736 | -130,700 | -------------------------------------------------------------------------------- | | -583,851 | -618,685 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RAHAVOOD KOKKU | -645,253 | -342,379 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | | -------------------------------------------------------------------------------- | - perioodi alguses | 1,303,609 | 1,407,608 | -------------------------------------------------------------------------------- | - suurenemine (+) / vähenemine (-) | -645,253 | -342,379 | -------------------------------------------------------------------------------- | - perioodi lõpus | 658,356 | 1,065,229 | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes eurodes) | 01.09.2007 - | 01.09.2006 - | -------------------------------------------------------------------------------- | | | 30.11.2007 | 30.11.2006 | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi kasum | 168 | 7,324 | -------------------------------------------------------------------------------- | Korrigeerimised | 29,287 | 25,859 | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete muutus | 968 | 22,228 | -------------------------------------------------------------------------------- | Varude muutus | -649 | -136 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste muutus | -4,899 | -23,011 | -------------------------------------------------------------------------------- | Ettemakstud tulumaks | 41 | -14 | -------------------------------------------------------------------------------- | | 24,916 | 32,250 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse ja immateriaalse põhivara | -28,476 | -15,824 | | soetamine | | | -------------------------------------------------------------------------------- | Laekumised materiaalse põhivara müügist | 20 | 62 | -------------------------------------------------------------------------------- | Laekumised tuletistehingutest | -546 | 808 | -------------------------------------------------------------------------------- | Vähemusosa soetamine | 0 | -32 | -------------------------------------------------------------------------------- | Saadud intressid | 163 | 395 | -------------------------------------------------------------------------------- | | -28,839 | -14,591 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Aktsiate emiteerimisega seotud kulud | 0 | -417 | -------------------------------------------------------------------------------- | Laenude ja võlakirjade tagasimaksed | -27,099 | -30,126 | -------------------------------------------------------------------------------- | Kasutatud arvelduskrediidi muutus | 3,444 | 0 | -------------------------------------------------------------------------------- | Kapitalirendi põhimaksete tasumine | -319 | -645 | -------------------------------------------------------------------------------- | Makstud intressid | -13,341 | -8,353 | -------------------------------------------------------------------------------- | | -37,315 | -39,541 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RAHAVOOD KOKKU | -41,238 | -21,882 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | | -------------------------------------------------------------------------------- | - perioodi alguses | 83,315 | 89,963 | -------------------------------------------------------------------------------- | - suurenemine (+) / vähenemine (-) | -41,238 | -21,882 | -------------------------------------------------------------------------------- | - perioodi lõpus | 42,077 | 68,081 | -------------------------------------------------------------------------------- Janek Stalmeister Finantsdirektor AS Tallink Grupp Tel: +372 6409 800 Fax: +372 6409 810 E-mail: janek.stalmeister@tallink.ee
Pealkiri
Q1 results of the 2007/2008 financial year
Teade
One of the important developments of the previous financial year, the new booking and check-in system was finally executed in October. The implementation of the new booking system and related activities best describe the focus of AS Tallink Grupp and its subsidiaries (hereinafter also referred to as “the Group”) in the first quarter of 2007/2008 financial year. Our newest investment, the new generation fast ferry M/S Star, was in operation for her first autumn period to offer the new Shuttle service product. The speed, stable operating schedule and her improved onboard services are of great advantages over the old type fast crafts in the service between Tallinn and Helsinki. The positive effect of the Star is seen in the increased passenger numbers and segment result. The Group's performance during the first quarter of 2007/2008 financial year was impacted by the launch of the new Group-wide booking and check-in system. During the transition period of the systems the bookings and sales activities were not running at their highest capacities as the use of resources was disturbed by technical issues. At the same time the booking system is a new tool not only to our internal sales agents but also to our external partners and individual customers who need to adapt to the new system's capabilities that are much more expansive then the previous different booking systems that the Group had in place. However, even though the influence to the passenger numbers is not over yet, we are seeing a return towards expected booking levels at the moment as all users begin to take full advantage of the new potential and features that the new booking system is able to offer. In the given circumstances of high fuel prices and interest rates and also the new booking system start up factors during the first quarter the Group's result can be considered rather positive as our main routes have improved the margins and several key ratios including revenues per passenger have increased. Based on the current development in our operations, expected new vessels and changes in the routes, also the sign from the world's markets in fuel price and interest rates easing the management expects the positive development in the Group's business during the next nine months reporting period to meet the targets. Q1 KEY FIGURES -------------------------------------------------------------------------------- | | 01.09.2007-30.11.2007| 01.09.2006-30.11.2006 | change %| -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Net sales | 2,920.1 | 186.6 | 2,976.9 | 190.3 | -1.9 | | (million) | | | | | | -------------------------------------------------------------------------------- | Gross profit | 649.5 | 41.5 | 724.0 | 46.3 | -10.3 | | (million) | | | | | | -------------------------------------------------------------------------------- | Gross margin (%) | 22.2 | | 24.3 | | | -------------------------------------------------------------------------------- | EBITDA (million) | 453.1 | 29.0 | 519.2 | 33.2 | -12.7 | -------------------------------------------------------------------------------- | EBITDA margin (%) | 15.5% | | 17.4 | | | -------------------------------------------------------------------------------- | Net profit for the | 2.6 | 0.2 | 114.6 | 7.3 | -97.7 | | period (million) | | | | | | -------------------------------------------------------------------------------- | Net profit margin | 0.1 | | 4.6 | | | | (%) | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Depreciation | 233.6 | 14.9 | 253.2 | 16.2 | -7.8 | | (million) | | | | | | -------------------------------------------------------------------------------- | Investments | 445.5 | 28.5 | 247.6 | 15.8 | 80.0 | | (million) | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Weighted average | 673,817,040 | 673,817,040 | 0.0 | | number of ordinary | | | | | shares outstanding | | | | | during 1st quarter | | | | -------------------------------------------------------------------------------- | Earnings per share | 0.00 | 0.00 | 0.17 | 0.01 | -97.7 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Number of | 1,510,079 | 1,616,869 | -6.6 | | passengers | | | | -------------------------------------------------------------------------------- | Cargo units | 91,897 | 92,914 | -1.1 | -------------------------------------------------------------------------------- | Average number of | 6,408 | 6,020 | 6.4 | | employees | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 30.11.2007 | 31.08.2007 | change %| -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Total assets | 26,131.8 | 1,670.1 | 26,570.9 | 1,698.2 | -1.7 | | (million) | | | | | | -------------------------------------------------------------------------------- | Total liabilities | 15,991.0 | 1,022.0 | 16,436.0 | 1,050.4 | -2.7 | | (million) | | | | | | -------------------------------------------------------------------------------- | Interest-bearing | 14,463.4 | 924.4 | 14,831.7 | 947.9 | -2.5 | | liabilities | | | | | | | (million) | | | | | | -------------------------------------------------------------------------------- | Total equity | 10,140.8 | 648.1 | 10,134.9 | 647.7 | 0.1 | | (million) | | | | | | -------------------------------------------------------------------------------- | Liquidity ratio | 0.498 | | 0.665 | | | -------------------------------------------------------------------------------- | Equity ratio (%) | 38.8 | | 38.1 | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Number of ordinary | 673,817,040 | 673,817,040 | 0.0 | | shares outstanding | | | | -------------------------------------------------------------------------------- | Shareholders | 15.05 | 0.96 | 15.04 | 0.96 | 0.1 | | equity per share | | | | | | -------------------------------------------------------------------------------- Net sales of the Group amounted to 2,920.1 million EEK (186.6 million EUR) in the first quarter of 2007/2008 financial year (September 01, 2007 - November 30, 2007) compared to 2,976.9 million EEK (190.3 million EUR) in the first quarter of last financial year. The decrease in sales in the first quarter resulted largely from the lower number of passengers which was an impact of the lower sales and marketing activity during the transition period to the new Group-wide booking and check-in system. The Group's gross profit decreased 74.6 million EEK (4.8 million EUR) to 649.5 million EEK (41.5 million EUR), EBITDA decreased by 12.7% to 453.1 million EEK (29.0 million EUR). The net profit was 2.6 million EEK (0.2 million EUR). Basic earnings per share and diluted earnings per share were 0.00 EEK (0.00 EUR) in the first quarter of 2007/2008 financial year compared to 0.17 EEK (0.01 EUR) in Q1 last financial year. In addition to the decreased sales, the Group's earnings were also negatively affected by the high fuel price and interest rates. Compared to the first quarter of previous financial year the Group's fuel costs increased by around 110 million EEK (7 million EUR) as a result of fuel price increase. In order to minimise the impact from the increased fuel price the fuel surcharges were introduced to the passenger tickets in January 2008. CONSOLIDATED CONDENSED INCOME STATEMENT -------------------------------------------------------------------------------- | (unaudited, in thousands of EEK) | 01.09.2007- | 01.09.2006 - | -------------------------------------------------------------------------------- | | 30.11.2007 | 30.11.2006 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net sales | 2,920,102 | 2,976,863 | -------------------------------------------------------------------------------- | Cost of sales | -2,270,624 | -2,252,864 | -------------------------------------------------------------------------------- | Gross profit | 649,478 | 723,999 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | -193,482 | -235,941 | -------------------------------------------------------------------------------- | Administrative and general expenses | -239,300 | -229,556 | -------------------------------------------------------------------------------- | Other operating items | 2,817 | 7,427 | -------------------------------------------------------------------------------- | Income from negative goodwill | 0 | 689 | -------------------------------------------------------------------------------- | Financial income | 6,888 | 24,636 | -------------------------------------------------------------------------------- | Financial expenses | -223,774 | -176,708 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit from normal operation before income | 2,627 | 114,546 | | tax | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Income tax | -3 | 55 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit for the period | 2,624 | 114,601 | -------------------------------------------------------------------------------- | Attributable to: | | | -------------------------------------------------------------------------------- | | Equity holders of the parent | 2,624 | 114,601 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share (in EEK per share) | | | -------------------------------------------------------------------------------- | | - basic | 0.00 | 0.17 | -------------------------------------------------------------------------------- | | - diluted | 0.00 | 0.17 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED INCOME STATEMENT -------------------------------------------------------------------------------- | (unaudited, in thousands of EUR) | 01.09.2007- | 01.09.2006 - | -------------------------------------------------------------------------------- | | 30.11.2007 | 30.11.2006 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net sales | 186,629 | 190,256 | -------------------------------------------------------------------------------- | Cost of sales | -145,119 | -143,984 | -------------------------------------------------------------------------------- | Gross profit | 41,510 | 46,272 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | -12,366 | -15,079 | -------------------------------------------------------------------------------- | Administrative and general expenses | -15,294 | -14,671 | -------------------------------------------------------------------------------- | Other operating items | 180 | 474 | -------------------------------------------------------------------------------- | Income from negative goodwill | 0 | 44 | -------------------------------------------------------------------------------- | Financial income | 440 | 1,575 | -------------------------------------------------------------------------------- | Financial expenses | -14,302 | -11,294 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit from normal operation before income | 168 | 7,321 | | tax | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Income tax | 0 | 3 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit for the period | 168 | 7,324 | -------------------------------------------------------------------------------- | Attributable to: | | | -------------------------------------------------------------------------------- | | Equity holders of the parent | 168 | 7,324 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share (in EEK per share) | | | -------------------------------------------------------------------------------- | | - basic | 0.00 | 0.01 | -------------------------------------------------------------------------------- | | - diluted | 0.00 | 0.01 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED BALANCE SHEET (unaudited, in thousands of EEK) -------------------------------------------------------------------------------- | ASSETS | 30.11.2007 | 31.08.2007 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current assets | | | -------------------------------------------------------------------------------- | Cash and cash equivalents | 658,356 | 1,303,609 | -------------------------------------------------------------------------------- | Receivables | 851,556 | 815,093 | -------------------------------------------------------------------------------- | Prepayments | 71,370 | 124,134 | -------------------------------------------------------------------------------- | Derivatives | 1,994 | 1,799 | -------------------------------------------------------------------------------- | Inventories | 282,513 | 272,352 | -------------------------------------------------------------------------------- | Total current assets | 1,865,789 | 2,516,987 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current assets | | | -------------------------------------------------------------------------------- | Investments in associates | 3,242 | 3,242 | -------------------------------------------------------------------------------- | Other financial assets and prepayments | 9,279 | 9,279 | -------------------------------------------------------------------------------- | Deferred income tax assets | 153,278 | 153,102 | -------------------------------------------------------------------------------- | Investment property | 4,694 | 4,694 | -------------------------------------------------------------------------------- | Property, plant and equipment | 22,813,870 | 22,600,001 | -------------------------------------------------------------------------------- | Intangible assets | 1,281,662 | 1,283,592 | -------------------------------------------------------------------------------- | Total non-current assets | 24,266,025 | 24,053,910 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 26,131,814 | 26,570,897 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | LIABILITIES AND EQUITY | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current liabilities | | | -------------------------------------------------------------------------------- | Current portion of interest-bearing | 2,288,893 | 2,247,390 | | liabilities | | | -------------------------------------------------------------------------------- | Payables | 1,323,310 | 1,408,369 | -------------------------------------------------------------------------------- | Deferred income | 136,131 | 121,008 | -------------------------------------------------------------------------------- | Derivatives | 1,421 | 7,980 | -------------------------------------------------------------------------------- | Total current liabilities | 3,749,755 | 3,784,747 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current liabilities | | | -------------------------------------------------------------------------------- | Interest bearing loans and borrowings | 12,174,480 | 12,584,261 | -------------------------------------------------------------------------------- | Deferred income tax liability | 63,463 | 63,463 | -------------------------------------------------------------------------------- | Pension liability | 3,348 | 3,489 | -------------------------------------------------------------------------------- | Total non-current liabilities | 12,241,291 | 12,651,213 | -------------------------------------------------------------------------------- | TOTAL LIABILITIES | 15,991,046 | 16,435,960 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EQUITY | | | -------------------------------------------------------------------------------- | Equity attributable to equity holders of | | | | the parent | | | -------------------------------------------------------------------------------- | Share capital | 6,738,170 | 6,738,170 | -------------------------------------------------------------------------------- | Share premium | 9,999 | 9,999 | -------------------------------------------------------------------------------- | Reserves | 1,206,198 | 1,202,991 | -------------------------------------------------------------------------------- | Retained earnings | 2,186,401 | 2,183,777 | -------------------------------------------------------------------------------- | Total equity attributable to equity holders | 10,140,768 | 10,134,937 | | of the parent | | | -------------------------------------------------------------------------------- | TOTAL EQUITY | 10,140,768 | 10,134,937 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES AND EQUITY | 26,131,814 | 26,570,897 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED BALANCE SHEET (unaudited, in thousands of EUR) -------------------------------------------------------------------------------- | ASSETS | 30.11.2007 | 31.08.2007 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current assets | | | -------------------------------------------------------------------------------- | Cash and cash equivalents | 42,077 | 83,315 | -------------------------------------------------------------------------------- | Receivables | 54,424 | 52,094 | -------------------------------------------------------------------------------- | Prepayments | 4,561 | 7,934 | -------------------------------------------------------------------------------- | Derivatives | 127 | 115 | -------------------------------------------------------------------------------- | Inventories | 18,056 | 17,407 | -------------------------------------------------------------------------------- | Total current assets | 119,245 | 160,865 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current assets | | | -------------------------------------------------------------------------------- | Investments in associates | 207 | 207 | -------------------------------------------------------------------------------- | Other financial assets and prepayments | 594 | 594 | -------------------------------------------------------------------------------- | Deferred income tax assets | 9,796 | 9,785 | -------------------------------------------------------------------------------- | Investment property | 300 | 300 | -------------------------------------------------------------------------------- | Property, plant and equipment | 1,458,072 | 1,444,403 | -------------------------------------------------------------------------------- | Intangible assets | 81,913 | 82,036 | -------------------------------------------------------------------------------- | Total non-current assets | 1,550,882 | 1,537,325 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 1,670,127 | 1,698,190 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | LIABILITIES AND EQUITY | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current liabilities | | | -------------------------------------------------------------------------------- | Current portion of interest-bearing | 146,287 | 143,634 | | liabilities | | | -------------------------------------------------------------------------------- | Payables | 84,575 | 90,011 | -------------------------------------------------------------------------------- | Deferred income | 8,700 | 7,734 | -------------------------------------------------------------------------------- | Derivatives | 91 | 510 | -------------------------------------------------------------------------------- | Total current liabilities | 239,653 | 241,889 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current liabilities | | | -------------------------------------------------------------------------------- | Interest bearing loans and borrowings | 778,091 | 804,281 | -------------------------------------------------------------------------------- | Deferred income tax | 4,056 | 4,056 | -------------------------------------------------------------------------------- | Pension liability | 214 | 223 | -------------------------------------------------------------------------------- | Total non-current liabilities | 782,361 | 808,560 | -------------------------------------------------------------------------------- | TOTAL LIABILITIES | 1,022,014 | 1,050,449 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EQUITY | | | -------------------------------------------------------------------------------- | Equity attributable to equity holders of | | | | the parent | | | -------------------------------------------------------------------------------- | Share capital | 430,648 | 430,648 | -------------------------------------------------------------------------------- | Share premium | 639 | 639 | -------------------------------------------------------------------------------- | Reserves | 77,089 | 76,885 | -------------------------------------------------------------------------------- | Retained earnings | 139,737 | 139,569 | -------------------------------------------------------------------------------- | Total equity attributable to equity holders | 648,113 | 647,741 | | of the parent | | | -------------------------------------------------------------------------------- | TOTAL EQUITY | 648,113 | 647,741 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES AND EQUITY | 1,670,127 | 1,698,190 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED CASH FLOW STATEMENT -------------------------------------------------------------------------------- | (unaudited, in thousands of EEK) | 01.09.2007 - | 01.09.2006 - | -------------------------------------------------------------------------------- | | | 30.11.2007 | 30.11.2006 | -------------------------------------------------------------------------------- | Cash flows from operating activities | | | -------------------------------------------------------------------------------- | Net profit for the period | 2,624 | 114,601 | -------------------------------------------------------------------------------- | Adjustments | 458,235 | 404,612 | -------------------------------------------------------------------------------- | Changes in assets related to operating | 15,150 | 347,793 | | activities | | | -------------------------------------------------------------------------------- | Changes in inventories | -10,161 | -2,134 | -------------------------------------------------------------------------------- | Changes in liabilities related to operating | -76,655 | -360,048 | | activities | | | -------------------------------------------------------------------------------- | Income tax repaid | 640 | -226 | -------------------------------------------------------------------------------- | | 389,833 | 504,598 | -------------------------------------------------------------------------------- | Cash flow used for investing activities | | | -------------------------------------------------------------------------------- | Purchase of property, plant, equipment and | -445,547 | -247,589 | | intangible assets | | | -------------------------------------------------------------------------------- | Proceeds from disposals of property, plant, | 312 | 979 | | equipment | | | -------------------------------------------------------------------------------- | Proceeds from settlement of derivatives | -8,552 | 12,645 | -------------------------------------------------------------------------------- | Acquisition of minority interests | 0 | -500 | -------------------------------------------------------------------------------- | Interest received | 2,552 | 6,173 | -------------------------------------------------------------------------------- | | -451,235 | -228,292 | -------------------------------------------------------------------------------- | Cash flow from (+)/ used for (-) financing | | | | activities | | | -------------------------------------------------------------------------------- | Transaction costs of issue of shares | 0 | -6,520 | -------------------------------------------------------------------------------- | Redemption of loans and bonds | -424,012 | -471,367 | -------------------------------------------------------------------------------- | Change in overdraft | 53,888 | 0 | -------------------------------------------------------------------------------- | Repayment of finance lease liabilities | -4,991 | -10,098 | -------------------------------------------------------------------------------- | Interest paid | -208,736 | -130,700 | -------------------------------------------------------------------------------- | | -583,851 | -618,685 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL NET CASH FLOW | -645,253 | -342,379 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash and cash equivalents: | | | -------------------------------------------------------------------------------- | - at the beginning of period | 1,303,609 | 1,407,608 | -------------------------------------------------------------------------------- | - increase (+) / decrease (-) | -645,253 | -342,379 | -------------------------------------------------------------------------------- | Cash and cash equivalents at end of period | 658,356 | 1,065,229 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED CASH FLOW STATEMENT -------------------------------------------------------------------------------- | (unaudited, in thousands of EUR) | 01.09.2007 - | 01.09.2006 - | -------------------------------------------------------------------------------- | | | 30.11.2007 | 30.11.2006 | -------------------------------------------------------------------------------- | Cash flows from operating activities | | | -------------------------------------------------------------------------------- | Net profit for the period | 168 | 7,324 | -------------------------------------------------------------------------------- | Adjustments | 29,287 | 25,859 | -------------------------------------------------------------------------------- | Changes in assets related to operating | 968 | 22,228 | | activities | | | -------------------------------------------------------------------------------- | Changes in inventories | -649 | -136 | -------------------------------------------------------------------------------- | Changes in liabilities related to operating | -4,899 | -23,011 | | activities | | | -------------------------------------------------------------------------------- | Income tax repaid | 41 | -14 | -------------------------------------------------------------------------------- | | 24,916 | 32,250 | -------------------------------------------------------------------------------- | Cash flow used for investing activities | | | -------------------------------------------------------------------------------- | Purchase of property, plant, equipment and | -28,476 | -15,824 | | intangible assets | | | -------------------------------------------------------------------------------- | Proceeds from disposals of property, plant, | 20 | 62 | | equipment | | | -------------------------------------------------------------------------------- | Proceeds from settlement of derivatives | -546 | 808 | -------------------------------------------------------------------------------- | Acquisition of minority interests | 0 | -32 | -------------------------------------------------------------------------------- | Interest received | 163 | 395 | -------------------------------------------------------------------------------- | | -28,839 | -14,591 | -------------------------------------------------------------------------------- | Cash flow from (+)/ used for (-) financing | | | | activities | | | -------------------------------------------------------------------------------- | Transaction costs of issue of shares | 0 | -417 | -------------------------------------------------------------------------------- | Redemption of loans and bonds | -27,099 | -30,126 | -------------------------------------------------------------------------------- | Change in overdraft | 3,444 | 0 | -------------------------------------------------------------------------------- | Repayment of finance lease liabilities | -319 | -645 | -------------------------------------------------------------------------------- | Interest paid | -13,341 | -8,353 | -------------------------------------------------------------------------------- | | -37,315 | -39,541 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL NET CASH FLOW | -41,238 | -21,882 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash and cash equivalents: | | | -------------------------------------------------------------------------------- | - at the beginning of period | 83,315 | 89,963 | -------------------------------------------------------------------------------- | - increase (+) / decrease (-) | -41,238 | -21,882 | -------------------------------------------------------------------------------- | Cash and cash equivalents at end of period | 42,077 | 68,081 | -------------------------------------------------------------------------------- Janek Stalmeister Financial Director AS Tallink Grupp Tel: +372 6409 800 Fax: +372 6409 810 E-mail: janek.stalmeister@tallink.ee