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AKTSIASELTS INFORTAR
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Poolaastaaruanne
Kas teade sisaldab isikuandmeid?
Jah
Kas esitatud teave on vabatahtlik?
Ei
Esitatava teabe algkeel
Eesti keel
Kas teave hõlmab perioodi?
Jah
Teabe alguskuupäev
01.01.2026
Teabe lõppkuupäev
30.06.2026
Versioon
1
Teate ID
18852
Esitamise kuupäev ja aeg
03.08.2026 09:00:00
Teate sisu eesti keeles
Pealkiri
Aktsiaseltsi Infortar 2026. aasta II kvartali ja esimese poolaasta auditeerimata tulemused
Teade
Aktsiaselts Infortar (Infortar) korraldab täna kõikidele huvilistele 2. kvartali 2026 tulemusi tutvustava veebiseminari. Veebiseminariga ühinemiseks palume kasutada järgmisi linke:
12.00 eestikeelne veebiseminar
14.00 ingliskeelne veebiseminar
Infortar kasvatas esimesel poolaastal oma ärikasumit 94 protsenti 51 miljoni euroni, EBITDA kasvas 31 protsenti 111 miljoni euroni ning müügitulu jäi võrreldes eelmise perioodiga samale tasemele, ulatudes 946 miljoni euroni. Kontserni investeeringute maht kasvas poolaastal kokku 50 miljoni euroni.
Kasumlikkuse paranemine tulenes eelkõige energeetika ja meretranspordi segmentide parematest tulemustest, uute põllumajandusettevõtete lisandumisest ning kahjumlike ettevõtete tegevuse peatamisest. Infortari kõik ärisegmendid parandasid esimese poolaasta EBITDA tulemust – kõige suurema muutuse tegid toetavad ärid, mille EBITDA paranes 4,4 miljoni euro suurusest kahjumist 5,6 miljoni euro suuruseks kasumiks.
„Oleme palju rääkinud kasumlikust kasvust ja investeeringutest, teinud suuri ostutehinguid ning laiendanud oma tegevust eri valdkondades ja riikides. Poolaasta tulemused näitavad, et tehtud otsused loovad püsivat väärtust ja et kasumlik kasv sünnib mitte ainult ühekordsetest tehingutest vaid igapäevasest äritegevusest,“ märkis Infortari juhatuse esimees Ain Hanschmidt.
“Energeetikas jätkas Elenger tasakaalus investeeringuid ülemineku ja taastuvenergia vahel. Eesti suurima rohegaasitootjana avasime juunis uue biometaanijaama Halinga piimafarmide kõrval, mis aitab tugevdada ühteaegu nii energia- kui toidujulgeolekut. Lääne päritolu maagaasi müügis hoidsime reserve ning kindlustasime järgmist küttehooaega – pool varudest on Soome ja Leedu sadamate kaudu meie piirkonda juba jõudnud ning ülejäänud tarnete osas on kokkulepped tehtud ja klientidele varustuskindlus tagatud,” tähendas Hanschmidt.
“Usume Tallinki pikaajalisse arenguväljavaatesse ja suurendasime ettevõttes täiendavalt oma osalust. Tallink teenib stabiilset müügitulu, mida on viimastel kuudel toetanud kaubaveo kasv ning ettevõtte tänase juhtkonna eesmärk on kasumlikkuse ja efektiivuse parandamine,” lausus Hanschmidt.
Meretransport
AS Tallink Grupp (Tallink) vedas 2026. aasta teises kvartalis kokku 1 454 725 reisijat, mida on 2,2% võrra vähem kui aasta varem. Veetud kaubaveoühikute arv kasvas 2,9% võrra 68 986 ühikuni, samas kui sõiduautode arv vähenes 6,5% võrra 199 025 sõidukini.
Kvartali lõpu seisuga opereeris kontsern 11 laeva sh 2 shuttle-laeva, 5 liine teenindavat kruiisilaeva, välja oli prahitud 3 laeva ja 1 laev seisis. Teises kvartalis investeeris Tallink kokku 7,3 miljonit eurot.
Energeetika
Teises kvartalis oli maagaasi tarbimine Soome ja Balti piirkonnas kokku 7,0 TWh, mis on 7% vähem kui aasta varem (7,6 TWh).
Elenger Grupi gaasi- ja elektrimüügimaht vähenes teises kvartalis 34%, ulatudes 3,3 TWh-ni (2025. aasta teises kvartalis 4,9 TWh). Languse peamiseks põhjuseks oli hulgimüügi vähenemine. Vaatamata müügimahu langusele kasvas ettevõtte gaasimüügi turuosa Soome-Balti turul 29%-ni. Eesti müük moodustas 15% grupi kogu energiamüügist.
Kinnisvara ja insenerehitus
2. kvartalis 2026 jätkas Infortari gruppi kuuluv INF Infra Rail Baltica põhitrassi ehitusega Kangru-Saku lõigul. Lepingu maht on 67,2 miljonit eurot ja tööd on planeeritud kestma 2028. aasta märtsini.
2. kvartalis 2026 jätkus Tallink Tennisekeskuse kõrval asuvale kinnistule Depo (DIY Store) kaubanduspinna rajamine. Ehitustööde valmimise tähtaeg on 2026. aasta sügisel.
Tähtsamad finantsnäitajad ja suhtarvud
| Finantsnäitaja/suhtarv | 2. kv 2026 | 2. kv 2025 | 6 kuud 2026 | 6 kuud 2025 |
| Müügitulu (miljonites eurodes) | 440,921 | 504,512 | 945,917 | 951,869 |
| Brutokasum (miljonites eurodes) | 59,397 | 55,668 | 114,132 | 81,736 |
| EBITDA (miljonites eurodes) | 64,158 | 57,390 | 111,228 | 85,051 |
| EBITDA marginaal (%) | 14,6 | 11,4 | 11,8 | 8,9 |
| Ärikasum (EBIT) | 29,686 | 27,038 | 51,068 | 26,383 |
| Kasum enne maksustamist (miljonites eurodes) | 17,709 | 15,548 | 27,195 | 2,695 |
| Tulumaksu kulu (miljonites eurodes) | -15,826 | -15,398 | -19,994 | -17,106 |
| Kasum/ kahjum (miljonites eurodes) | 1,883 | 0,15 | 7,201 | -14,411 |
| Emaettevõtte omanikele kuuluv kasum/ kahjum (miljonites eurodes) | 2,342 | 1,930 | 15,163 | -2,549 |
| Kasum/kahjum aktsia kohta (eurodes)* | 0,1 | 0,1 | 0,7 | -0,1 |
| Omakapital (miljonites eurodes) | 1 200,533 | 1 174,599 | 1 200,533 | 1 174,599 |
| Laenu- ja liisingkohustised (miljonites eurodes) | 1 083,091 | 941,747 | 1 083,091 | 941,747 |
| Netovõlg (miljonites eurodes) | 829,904 | 795,379 | 829,904 | 795,379 |
| Investeerimislaenude ja EBITDA suhe** | 3,0 | 2,7 | 3,0 | 2,7 |
*Kasum/kahjum aktsia kohta (eurodes) arvutatakse järgmiselt: emaettevõtte omanikele kuuluv kasum/kahjum * 1000/ aktsiate arv millest on maha arvatud omaaktsiad. ** Investeerimislaenud / EBITDA, mis on viidud aasta baasile.
Müügitulu
2026. majandusaasta esimesel poolaastal oli kontserni konsolideeritud müügitulu 945,917 miljonit eurot (2025 konsolideeritud müügitulu esimesel poolaastal 951,869 miljonit eurot).
EBITDA ja segmendiaruandlus
Meretranspordi segmendi EBITDA oli 2026. majandusaasta esimesel poolaastal 39,277 miljonit eurot (2025. majandusaasta esimesel poolaastal 33,292 miljonit eurot).
Energeetikasegmendi EBITDA oli 2026. majandusaasta esimesel poolaastal 59,891 miljonit eurot (2025. majandusaasta esimesel poolaastal 51,749 miljonit eurot).
Kinnisvarasegmendis võetakse kasumlikkuse hindamisel arvesse eraldiseisvate kinnisvaraettevõtete EBITDA. Kinnisvara EBITDA oli 2026. majandusaasta esimesel poolaastal 8,087 miljonit eurot (2025. majandusaasta esimesel poolaastal 7,691 miljonit eurot).
Puhaskasum (kahjum)
Konsolideeritud puhaskasum oli 2026. majandusaasta esimesel poolaastal
7,201 miljonit eurot, sh Infortari omanikele kuuluv osa 15,163 miljonit eurot (2025. majandusaasta esimesel poolaastal -14,411 miljonit eurot sh Infortari omanikele kuuluv osa -2,549 miljonit eurot).
Investeeringud
2026. majandusaasta esimesel poolaastal oli Infortar grupi investeeringute kogusumma ligikaudu 50 miljonit eurot (2025. majandusaasta esimesel poolaastal 38 miljonit eurot).
Finantseerimine
Laenu ja liisingkohustised olid seisuga 30.06.2026 kokku 1 083,091 miljonit eurot (31.12.2025 seisuga 1 071,353 miljonit eurot).
Infortari netovõlg 30.06.2026 seisuga oli 829,904 miljonit eurot (31.12.2025 seisuga 851,582 miljonit eurot). Netovõla ja EBITDA suhe oli 3,3 (31.12.2025 seisuga 3,7).
Dividendid
Dividendipoliitika kohaselt on eesmärgiks maksta dividendideks vähemalt 1 euro aktsia kohta majandusaastas. Dividendide väljamakseid tehakse kahes osas. 4. juunil 2026 kinnitatud üldkoosoleku otsuse punkt 2.2 järgi makstakse aktsionäridele 2025. aasta majandustulemuste eest dividendi 3,02 eurot aktsia kohta. Esimene makse teostati 15. juulil 2026 ja teine makse teostatakse 15. detsembril 2026 ülekandega aktsionäri pangakontole.
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
| (tuhandetes eurodes) | 2. kv 2026 | 2. kv 2025 | 6 kuud | 6 kuud 2025 |
| Müügitulu | 440 921 | 504 512 | 945 917 | 951 869 |
| Müügikulu | -381 617 | -448 771 | -831 690 | -869 944 |
| Nõuete ümberhindlused | 93 | -73 | -95 | -189 |
| Brutokasum | 59 397 | 55 668 | 114 132 | 81 736 |
| Turustuskulud | -12 441 | -12 119 | -23 382 | -23 095 |
| Üldhalduskulud | -23 532 | -22 556 | -45 287 | -43 521 |
| Kasum/kahjum tuletisinstrumentidest | -766 | 5 243 | -1 505 | 9 182 |
| Kasum/kahjum bioloogilistelt varadelt | 2 827 | 137 | 1 266 | 104 |
| Muud äritulud | 4 807 | 2 280 | 9 518 | 4 236 |
| Muud ärikulud | -606 | -1 615 | -3 674 | -2 259 |
| Ärikasum | 29 686 | 27 038 | 51 068 | 26 383 |
| (tuhandetes eurodes) | 2. kv 2026 | 2. kv 2025 | 6 kuud | 6 kuud 2025 |
| Kasum/kahjum kapitaliosaluse meetodil arvestatud investeeringutelt | 282 | 366 | -2 141 | 1 321 |
| Finantstulud ja -kulud: |
|
|
|
|
| Finantsinvesteeringute tulu/kulu | -218 | -278 | -218 | -611 |
| Intressikulu | -10 791 | -11 581 | -21 031 | -24 477 |
| Intressitulu | 777 | 895 | 1 706 | 1 737 |
| Kasum/kahjum valuutakursi muutustest | -1 283 | -71 | -917 | -386 |
| Muud finantstulud ja -kulud | -744 | -821 | -1 272 | -1 272 |
| Finantstulud ja -kulud kokku | -12 259 | -11 856 | -21 732 | -25 009 |
| Kasum enne maksustamist | 17 709 | 15 548 | 27 195 | 2 695 |
| Ettevõtte tulumaks | -15 826 | -15 398 | -19 994 | -17 106 |
| Kasum/kahjum | 1 883 | 150 | 7 201 | -14 411 |
| sealhulgas: |
|
|
|
|
| Emaettevõtte omanikele kuuluv kasum/kahjum | 2 342 | 1 930 | 15 163 | -2 549 |
| Vähemusosalusele kuuluv kasum/kahjum | -459 | -1 780 | -7 962 | -11 862 |
| Muu koondkasum |
|
| 6 kuud | 6 kuud 2025 |
| Kirjed, mida ei klassifitseerita kasumiaruandesse: |
|
|
|
|
| Töösuhtejärgsete hüvitiste kohustuste ümberhindlus |
|
| 9 | 0 |
| Kirjed, mida võib edaspidi ümber klassifitseerida kasumiaruandesse: |
|
|
|
|
| Rahavoogude riskimaandamisinstrumendid - õiglase väärtuse muutuse efektiivne osa |
|
| 22 267 | 24 168 |
| Välismaiste tütarettevõtjate ümberarvestusel tekkinud valuutakursivahed | -1 816 | 922 | ||
| Muu koondkasum kokku |
|
| 20 460 | 25 090 |
| Koondkasum/-kahjum kokku |
|
| 27 661 | 10 679 |
| sealhulgas: |
|
|
|
|
| Emaettevõtte omanikele kuuluv kasum/kahjum |
|
| 35 623 | 22 541 |
| Vähemusosalusele kuuluv kasum/kahjum |
|
| -7 962 | -11 862 |
| Tavakasum aktsia kohta |
|
| 0,74 | -0,12 |
| Lahustatud kasum aktsia kohta |
|
| 0,72 | -0,12 |
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
| (tuhandetes eurodes) | 30.06.26 | 31.12.25 |
| KÄIBEVARA |
|
|
| Raha | 253 187 | 219 771 |
| Lühiajalised tuletisinstrumendid | 33 637 | 4 732 |
| Realiseerunud tuletisinstrumentide nõuded | 6 982 | 1 823 |
| Nõuded ostjatele | 114 630 | 153 473 |
| Maksude ettemaksed | 5 382 | 5 659 |
| Muud nõuded ja ettemaksud | 44 525 | 38 878 |
| Ettemaksed varude eest | 1 526 | 476 |
| Varud | 178 023 | 90 672 |
| Bioloogilised varad | 2 486 | 1 545 |
| Käibevara kokku | 640 378 | 517 029 |
| PÕHIVARA | 30.06.26 | 31.12.25 |
| Investeeringud sidusettevõtetesse | 16 046 | 21 412 |
| Pikaajalised tuletisinstrumendid | 1 612 | 1 079 |
| Muud pikaajalised nõuded | 30 949 | 31 648 |
| Õiglases väärtuses põhivara | 1 195 909 | 1 202 173 |
| Kinnisvarainvesteeringud | 68 130 | 66 872 |
| Materiaalne põhivara | 678 481 | 669 797 |
| Immateriaalne põhivara | 37 117 | 37 930 |
| Kasutusõiguse vara | 37 933 | 39 645 |
| Bioloogiline vara | 7 754 | 9 022 |
| Põhivara kokku | 2 073 931 | 2 079 578 |
| VARAD KOKKU | 2 714 309 | 2 596 607 |
| (tuhandetes eurodes) | 30.06.26 | 31.12.25 |
| LÜHIAJALISED KOHUSTISED | ||
| Laenukohustised | 284 143 | 338 515 |
| Rendikohustised | 8 587 | 10 029 |
| Võlad tarnijatele | 152 274 | 123 330 |
| Maksukohustused | 52 728 | 44 972 |
| Ostjate ettemaksed | 52 036 | 38 621 |
| Realiseerunud tuletisinstrumendid | 1 074 | 4 156 |
| Muud lühiajalised kohustised | 97 549 | 69 677 |
| Lühiajalised tuletisinstrumendid | 15 321 | 9 552 |
| Lühiajalised kohustised kokku | 663 712 | 638 852 |
| PIKAAJALISED KOHUSTISED | 30.06.26 | 31.12.25 |
| Pikaajalised eraldised | 8 017 | 8 695 |
| Edasilükkunud tulumaksukohustis | 2 119 | 1 894 |
| Muud pikaajalised kohustised | 47 725 | 46 028 |
| Pikaajalised tuletisinstrumendid | 1 842 | 2 925 |
| Laenukohustised | 755 278 | 686 187 |
| Rendikohustised | 35 083 | 36 622 |
| Pikaajalised kohustised kokku | 850 064 | 782 351 |
| KOHUSTISED KOKKU | 1 513 776 | 1 421 203 |
| (tuhandetes eurodes) | 30.06.26 | 31.12.25 |
| OMAKAPITAL |
|
|
| Aktsiakapital | 2 117 | 2 117 |
| Oma aktsiad | -2 133 | -790 |
| Ülekurss | 32 484 | 32 484 |
| Reservkapital | 212 | 212 |
| Optsioonireserv | 12 331 | 10 099 |
| Riskimaandamise reserv | 15 006 | -7 260 |
| Realiseerimata kursivahed | -649 | 1 167 |
| Töösuhtejärgsete hüvitiste kohustuste reserv | -550 | -559 |
| Jaotamata kasum | 898 415 | 884 204 |
| Emaettevõtte omanikele kuuluv omakapital | 957 233 | 921 674 |
| Vähemusosalus | 243 300 | 253 730 |
| Omakapital kokku | 1 200 533 | 1 175 404 |
| KOHUSTISED JA OMAKAPITAL KOKKU | 2 714 309 | 2 596 607 |
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
| Rahavood äritegevusest | ||
| (tuhandetes eurodes) | 6 kuud 2026 | 6 kuud 2025 |
| Aruandeperioodi kasum/kahjum | 7 201 | -14 411 |
| Korrigeerimised: |
|
|
| Põhivara kulum ja väärtuse langus | 60 160 | 58 668 |
Kapitaliosaluse ümberhindlus | 2 614 | -1 321 |
Tuletisinstrumentide väärtuse muutus | -2 485 | -22 225 |
Muud finantstulud ja -kulud | -3 583 | -815 |
Arvestatud intressikulud | 21 031 | 24 477 |
Kasum/kahjum põhivara müügist | -1 775 | -244 |
Tuludes kajastatud sihtfinantseerimise tulu | -380 | -993 |
Arvestatud tulumaksukulu | 19 994 | 17 106 |
Eraldiste moodustamine ja korrigeerimine | 2 241 | 24 168 |
| Makstud tulumaks | -19 768 | -16 798 |
| Äritegevusega seotud nõuete ja ettemaksete muutus | 28 794 | 18 704 |
| Varude muutused | -88 401 | 88 846 |
| Äritegevusega seotud kohustuste muutus | 73 496 | 81 445 |
| Bioloogiliste varade muutus | 326 | 12 |
| Kokku rahavood äritegevusest | 99 465 | 256 619 |
| Rahavood investeerimistegevusest | 6 kuud 2026 | 6 kuud 2025 |
| Laekunud sidusettevõtete müügist | 2 752 | 0 |
| Netorahavood tütarettevõtete ostul | -2 406 | 0 |
| Antud laenude tagasimaksed | 193 | 1 317 |
| Laekunud intressid | 1 729 | 1 586 |
| Tasutud kinnisvarainvesteeringute soetamisel | -1 258 | -2 015 |
| Tasutud materiaalse ja immateriaalse põhivara soetamisel | -48 521 | -36 414 |
| Laekunud kinnisvarainvesteeringute ja põhivara müügist | 2 074 | 65 331 |
| Kokku rahavood investeerimistegevusest | -45 437 | 29 805 |
| Rahavood finantseerimistegevusest | 6 kuud 2026 | 6 kuud 2025 |
| Laekumised sihtfinantseerimisest | 1 866 | 893 |
| Arvelduskrediidi muutus | -16 882 | -43 390 |
| Saadud laene | 37 235 | 11 136 |
| Saadud laenude tagasimaksed | -5 634 | -245 306 |
| Rendikohustiste põhiosa tagasimaksed | -14 813 | -5 859 |
| Makstud intressid | -20 089 | -24 619 |
| Makstud dividendid | -952 | -490 |
| Tasutud oma aktsiate tagasiostul | -1 343 | 0 |
| Kokku rahavood finantseerimistegevusest | -20 612 | -307 635 |
| Rahavood kokku | 33 416 | -21 211 |
| Raha ja raha ekvivalendid perioodi alguses | 219 771 | 167 579 |
| Raha ja raha ekvivalendid perioodi lõpus | 253 187 | 146 368 |
| Raha ja raha ekvivalentide muutus | 33 416 | -21 211 |
Infortar tegutseb seitsmes riigis, ettevõtte peamised tegevusvaldkonnad on meretransport, energeetika ja kinnisvara. Infortar omab 68,76% suurust osalust AS-is Tallink Grupp, 100% osalust AS-is Elenger Grupp ning mitmekülgset ja kaasaegset, ca 141 000 m2 suurust kinnisvaraportfelli. Lisaks kolmele põhitegevusvaldkonnale tegutseb Infortar põllumajanduse, insenerehituse, ehitusmaavarade, trükkimise ja muudes valdkondades. Kokku kuulub Infortari kontserni 107 ettevõtet, sealhulgas 3 sidusettevõtet ja 2 sidusettevõtte tütarettevõtet. Arvestamata sidusettevõtteid annab Infortar tööd 6890 inimesele.
Lisainfo:
Kadri Laanvee
AS Infortar investorsuhete juht
Tel. 5156662
E-mail: [email protected]
www.infortar.ee/investorile
Manused
Teate sisu inglise keeles
Pealkiri
AS Infortar: Unaudited results for Q2 and H1 2026
Teade
Infortar will arrange a webinar for investors today 3 August 2026. Please join the webinar via the following links:
at 12:00 (Tallinn local time) Estonian webinar
at 14:00 (Tallinn local time) English webinar
Infortar increased operating profit by 94% to EUR 51 million in the first half of 2026, while EBITDA rose by 31% to EUR 111 million. Revenue remained broadly unchanged at EUR 946 million. The Group invested EUR 50 million during the period.
“Profitable growth and investment have long been at the heart of our strategy. We have signed major acquisition agreements and expanded our holdings across sectors and geographies. The first-half results demonstrate that the decisions we have made are creating long-term value and that profitable growth is generated not only through one-off transactions, but also through our day-to-day business operations,” said Ain Hanschmidt, Chairman of the Management Board of Infortar.
“In the energy segment, Elenger continued to balance investments between transition fuels and renewable energy. As Estonia’s largest biomethane producer, we opened a new biomethane plant at the Halinga dairy farm complex in June. The plant will produce green gas from local feedstock, strengthening both energy and food security.
“We also maintained sufficient reserves of Western-sourced natural gas and secured supplies for the next heating season. Half of the volumes required for the next heating season have already arrived in the region via LNG terminals in Finland and Lithuania, while agreements are in place for the remaining deliveries, ensuring security of supply for our customers,” Hanschmidt noted.
“To demonstrate our confidence in Tallink’s long-term prospects, we further increased our shareholding. Tallink generates stable revenue, supported in recent months by growth in cargo volumes, while the current management team is focused on improving profitability and efficiency,” Hanschmidt said.
Major Events
Maritime transport
In the second quarter, Tallink carried 1,454,725 passengers, representing a 2.2% decrease year-on-year. The number of cargo units transported increased by 2.9% to 68,986, while the number of passenger vehicles was down by 6.5% to 199,025.
At quarter-end, Tallink operated 11 vessels: two shuttle vessels, five cruise ferries serving regular routes, three chartered-out vessels and one vessel in lay-up.
During the quarter, Tallink’s investments totalled EUR 7.3 million.
Energy
In the second quarter, natural gas consumption in the Finnish-Baltic region totalled 7.0 TWh, decreasing by 7% compared with the previous year (7.6 TWh).
Elenger Grupp’s gas and electricity sales volumes in the second quarter decreased by 34% year on year, totalling 3.3 TWh (compared to 4.9 TWh in Q2 2025). The decline was primarily driven by a reduction in wholesale sales. Elenger’s gas market share in the Finnish-Baltic market increased to 29% in Q2 2026, and Estonia accounted for 15% of energy sales.
Real estate and infrastructure
In Q2 2026, INF Infra, part of the Infortar group, continued the construction of Rail Baltica’s mainline on the Kangru-Saku section. The contract value is EUR 67.2 million, and the work is planned to continue until March 2028.
In Q2 2026, construction of the DEPO DIY store continued on the property adjacent to the Tallink Tennis Centre. The project is scheduled for completion in autumn 2026.
Key financial figures
| Key figures | Q2 2026 | Q2 2025 | 6 months 2026 | 6 months 2025 | |
| Revenue, m€ | 440.921 | 504.512 | 945.917 | 951.869 | |
| Gross profit, m€ | 59.397 | 55.668 | 114.132 | 81.736 | |
| EBITDA, m€ | 64.158 | 57.390 | 111.228 | 85.051 | |
| EBITDA margin (%) | 14.6 | 11.4 | 11.8 | 8.9 | |
| Operating profit (EBIT), m€ | 29.686 | 27.038 | 51.068 | 26.383 | |
| Profit before tax, m€ | 17.709 | 15.548 | 27.195 | 2.695 | |
| Income tax expense, m€ | -15.826 | -15.398 | -19.994 | -17.106 | |
| Net profit(-loss), m€ | 1.883 | 0.15 | 7.201 | -14.411 | |
| Net profit (-loss) attributable to owners of the parent, m€ | 2.342 | 1.930 | 15.163 | -2.549 | |
| Earnings per share (euros)* | 0.1 | 0.1 | 0.7 | -0.1 | |
| Total equity m€ | 1 200.533 | 1 174.599 | 1 200.533 | 1 174.599 | |
| Loan and lease liabilities m€ | 1 083.091 | 941.747 | 1 083.091 | 941.747 | |
| Net debt m€ | 829.904 | 795.379 | 829.904 | 795.379 | |
| Investment loans / EBITDA** | 3.0 | 2.7 | 3.0 | 2.7 | |
Notes: *EPS (in euros) is calculated as: profit/loss attributable to the owners of the parent * 1000 / number of shares of which own shares are excluded. ** Investment loans / EBITDA, annualized.
Revenue
In the first half of 2026 financial year, the Group’s consolidated revenue was EUR 945.917 million (6 months 2025 consolidated revenue: EUR 951.869 million).
EBITDA and Segment Reporting
In the first half of 2026 financial year, the EBITDA of the maritime transport segment amounted to EUR 39.277 million (6 months 2025: EUR 33.292 million).
The energy segment’s EBITDA in the first half of 2026 was EUR 59.891 million (6 months 2025: EUR 51.749 million).
In the real estate segment, profitability is calculated based on the standalone results of the real estate companies. The real estate segment’s EBITDA in the first half of 2026 was EUR 8.087 million (6 months 2025 was EUR 7.691 million).
Net Profit (Loss)
The consolidated net profit for the first half of the 2026 financial year was EUR 7.201 million, including a profit attributable to Infortar's owners of EUR 15.163 million (6 months 2025 net loss: EUR -14.4 million, including EUR -2.549 million attributable to Infortar's owners).
Investments
In the first half of 2026, the total amount of investments made by the Infortar Group was approximately EUR 50 million (H1 2025: EUR 38 million).
Financing
As at 30 June 2026, the Group’s total loan and lease liabilities amounted to EUR 1 083.091 million (compared to EUR 1,071.353 million at the end of the 2025 financial year). Infortar’s net debt stood at EUR 829.904 million (compared with EUR 851.582 million at 31 December 2025). The net debt to EBITDA ratio was 3.3 (31.12.2025 ratio was 3.7).
Dividends
According to the dividend policy, the objective is to pay dividends of at least 1 euro per share per financial year. Based on Resolution 2.2 of the Annual General Meeting approved on 4 June 2026, a dividend of EUR 3.02 per share will be paid to shareholders for the 2025 financial year. The first payment was made on 15 July 2026, and the second payment will be made on 15 December 2026 with transfer to the shareholders’ bank accounts.
Consolidated Statement of Profit or Loss
| (in thousands of EUR) | Q2 | Q2 | 6 months | 6 months |
| Revenue | 440 921 | 504 512 | 945 917 | 951 869 |
| Cost of goods (goods and services) sold | -381 617 | -448 771 | -831 690 | -869 944 |
| Write-down of receivables | 93 | -73 | -95 | -189 |
| Gross profit | 59 397 | 55 668 | 114 132 | 81 736 |
| Marketing expenses | -12 441 | -12 119 | -23 382 | -23 095 |
| General administrative expenses | -23 532 | -22 556 | -45 287 | -43 521 |
| Profit (loss) from derivatives | -766 | 5 243 | -1 505 | 9 182 |
| Profit (loss) from biological assets | 2 827 | 137 | 1 266 | 104 |
| Other operating income | 4 807 | 2 280 | 9 518 | 4 236 |
| Other operating expenses | -606 | -1 615 | -3 674 | -2 259 |
| Operating profit | 29 686 | 27 038 | 51 068 | 26 383 |
| (in thousands of EUR) | Q2 | Q2 | 6 months | 6 months |
| Profit (loss) from investments accounted for by equity method | 282 | 366 | -2 141 | 1 321 |
| Financial income and expenses: |
|
|
|
|
| Other financial investments | -218 | -278 | -218 | -611 |
| Interest expense | -10 791 | -11 581 | -21 031 | -24 477 |
| Interest income | 777 | 895 | 1 706 | 1 737 |
| Profit (loss) from changes in exchange rates | -1 283 | -71 | -917 | -386 |
| Other financial income and expenses | -744 | -821 | -1 272 | -1 272 |
| Total financial income and expenses | -12 259 | -11 856 | -21 732 | -25 009 |
| Profit before tax | 17 709 | 15 548 | 27 195 | 2 695 |
| Corporate income tax | -15 826 | -15 398 | -19 994 | -17 106 |
| Profit for the financial period | 1 883 | 150 | 7 201 | -14 411 |
| including: |
|
|
|
|
| Profit attributable to the owners of the parent company | 2 342 | 1 930 | 15 163 | -2 549 |
| Profit attributable to non-controlling interest | -459 | -1 780 | -7 962 | -11 862 |
| Other comprehensive income |
|
| 6 months | 6 months |
| Items that will not be reclassified to profit or loss: |
|
|
|
|
| Revaluation of post-employment benefit obligations |
|
| 9 | 0 |
| Items that may be subsequently reclassified to the profit or loss: |
| |||
| Revaluation of risk hedging instruments | 22 267 | 24 168 | ||
| Exchange rate differences attributable to foreign subsidiaries | -1 816 | 922 | ||
| Total of other comprehensive income | 20 460 | 25 090 | ||
| Total income | 27 661 | 10 679 | ||
| including: |
| |||
| Comprehensive profit attributable to the owners of the parent company | 35 623 | 22 541 | ||
| Comprehensive profit attributable to non-controlling interest | -7 962 | -11 862 | ||
| Ordinary earnings per share (in euros per share) | 0.74 | -0.12 | ||
| Diluted earnings per share (in euros per share) | 0.72 | -0.12 | ||
Consolidated Statement of Financial Position
| (in thousands of EUR) | 30.06.26 | 31.12.25 |
| Current assets |
|
|
| Cash and cash equivalents | 253 187 | 219 771 |
| Derivative financial assets | 33 637 | 4 732 |
| Settled derivative receivables | 6 982 | 1 823 |
| Trade receivables | 114 630 | 153 473 |
| Prepayments for taxes | 5 382 | 5 659 |
| Other receivables and prepayments | 44 525 | 38 878 |
| Prepayments for inventories | 1 526 | 476 |
| Inventories | 178 023 | 90 672 |
| Biological assets | 2 486 | 1 545 |
| Total current assets | 640 378 | 517 029 |
| Non-current assets | 30.06.26 | 31.12.25 |
| Investments to associates | 16 046 | 21 412 |
| Long-term derivative instruments | 1 612 | 1 079 |
| Other non-current receivables | 30 949 | 31 648 |
| Property, plant and equipment at fair value | 1 195 909 | 1 202 173 |
| Investment property | 68 130 | 66 872 |
| Property, plant and equipment | 678 481 | 669 797 |
| Intangible assets | 37 117 | 37 930 |
| Right-of-use assets | 37 933 | 39 645 |
| Biological assets | 7 754 | 9 022 |
| Total non-current assets | 2 073 931 | 2 079 578 |
| TOTAL ASSETS | 2 714 309 | 2 596 607 |
| (in thousands of EUR) | 30.06.26 | 31.12.25 |
| Current liabilities | ||
| Loan liabilities | 284 143 | 338 515 |
| Lease liabilities | 8 587 | 10 029 |
| Trade payables | 152 274 | 123 330 |
| Tax liabilities | 52 728 | 44 972 |
| Buyers' advances | 52 036 | 38 621 |
| Settled derivatives | 1 074 | 4 156 |
| Other current liabilities | 97 549 | 69 677 |
| Short-term derivative instruments | 15 321 | 9 552 |
| Total current liabilities | 663 712 | 638 852 |
| Non-current liabilities | 30.06.26 | 31.12.25 |
| Long-term provisions | 8 017 | 8 695 |
| Deferred taxes | 2 119 | 1 894 |
| Other long-term liabilities | 47 725 | 46 028 |
| Long-term derivatives | 1 842 | 2 925 |
| Loan liabilities | 755 278 | 686 187 |
| Lease liabilities | 35 083 | 36 622 |
| Total non-current liabilities | 850 064 | 782 351 |
| TOTAL LIABILITIES | 1 513 776 | 1 421 203 |
| (in thousands of EUR) | 30.06.26 | 31.12.25 |
| Equity |
|
|
| Share capital | 2 117 | 2 117 |
| Own shares | -2 133 | -790 |
| Share premium | 32 484 | 32 484 |
| Reserve capital | 212 | 212 |
| Option reserve | 12 331 | 10 099 |
| Hedging reserve | 15 006 | -7 260 |
| Unrealised exchange rate differences | -649 | 1 167 |
| Post-employment benefit obligation reserve | -550 | -559 |
| Retained earnings from previous periods | 898 415 | 884 204 |
| Total equity attributable to equity holders of the Parent | 957 233 | 921 674 |
| Non-controlling interest(s) | 243 300 | 253 730 |
| Total equity | 1 200 533 | 1 175 404 |
| TOTAL LIABILITIES AND EQUITY | 2 714 309 | 2 596 607 |
Consolidated cash flow report
| (in thousands of EUR) | 6 months | 6 months |
| Profit of the period | 7 201 | -14 411 |
| Adjustments: |
|
|
| Depreciation, amortisation, and impairment of non-current assets | 60 160 | 58 668 |
| Fair value adjustment of equity investment | 2 614 | -1 321 |
| Change in the value of derivatives | -2 485 | -22 225 |
| Other financial income/expenses | -3 583 | -815 |
| Calculated interest expenses | 21 031 | 24 477 |
| Profit/loss from non-current assets sold | -1 775 | -244 |
| Income from grants recognised as revenue | -380 | -993 |
| Corporate income tax expense | 19 994 | 17 106 |
| Recognition and adjustment of provisions | 2 241 | 24 168 |
| Income tax paid | -19 768 | -16 798 |
| Change in receivables and prepayments related to operating activities | 28 794 | 18 704 |
| Change in inventories | -88 401 | 88 846 |
| Change in payables and prepayments relating to operating activities | 73 496 | 81 445 |
| Change in biological assets | 326 | 12 |
| Total cash flows from operating activities | 99 465 | 256 619 |
| Cash flows from investing activities | 6 months | 6 months |
| Proceeds from the sale of associates | 2 752 | 0 |
| Net cash flows on acquisition of subsidiaries | -2 406 | 0 |
| Repayments of loans granted | 193 | 1 317 |
| Interest received | 1 729 | 1 586 |
| Purchases of investment property | -1 258 | -2 015 |
| Purchases of property, plant and equipment | -48 521 | -36 414 |
| Proceeds from sale of property | 2 074 | 65 331 |
| Total cash flows used in investing activities | -45 437 | 29 805 |
| Cash flows used in financing activities | 6 months | 6 months |
| Proceeds from targeted financing | 1 866 | 893 |
| Changes in overdraft | -16 882 | -43 390 |
| Proceeds from borrowings | 37 235 | 11 136 |
| Repayments of borrowings | -5 634 | -245 306 |
| Repayment of finance lease liabilities | -14 813 | -5 859 |
| Interest paid | -20 089 | -24 619 |
| Dividends paid | -952 | -490 |
| Repurchase of own shares | -1 343 | 0 |
| Total cash flows used in financing activities | -20 612 | -307 635 |
0 | 0 | |
| TOTAL NET CASH FLOW | 33 416 | -21 211 |
| Cash at the beginning of the year | 219 771 | 167 579 |
| Cash at the end of the period | 253 187 | 146 368 |
| Net (decrease)/increase in cash | 33 416 | -21 211 |
Infortar operates in seven countries, the company's main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.76% stake in Tallink Grupp, a 100% share in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 107 companies belong to the Infortar group, including 3 associates and 2 subsidiaries of associates. Infortar employs 6890 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
Phone: +372 5156662
e-mail: [email protected]
www.infortar.ee/en/investor