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AS Tallink Grupp
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Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
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15.07.2009 17:38:45
Pealkiri
Tallink Grupp 2008/2009 majandusaasta 9 kuu auditeerimata vahearuanne
Teade
AS-i Tallink Grupp ja tema tütarettevõtete (edaspidi „Kontsern”) 2008/2009 majandusaasta üheksa kuu (september-mai) tegevusele avaldas mõju globaalne majanduslangus ja sellest tulenevad mõjud. Kontserni 2008/2009 majandusaasta üheksa kuu müügitulu oli 537 miljonit eurot (8 402 miljonit krooni), mis on 2,3% võrra madalam eelmise majandusaasta üheksa kuu müügitulust. Tänu reisijate arvu kasvule suurenes Kontserni reisijate veost tulenev müügitulu 17 miljoni euro (266 miljoni krooni) võrra, mis ainult osaliselt kompenseeris kaubaveotulude 37 miljoni euro (579 miljoni krooni) suuruse languse. Majandusaasta kolmandas kvartalis (märts-mai) vähenes Kontserni müügitulu 12 miljoni euro (184 miljoni krooni) võrra võrreldes eelmise majandusaasta kolmanda kvartaliga. Kaubaveo tulude langus oli 14 miljonit eurot (221 miljonit krooni).Kuigi kolmandas kvartalis tõusis reisijate arv 12% võrra ei kasvanud tulud reisijateveost. Keskmise müügitulu languse reisija kohta on põhjustanud reisijate tarbimise aeglustumine, madal Rootsi krooni kurss euro suhtes, suuremahulised müügikampaaniad ja reisijate ootused madalamale piletihinnale ning odavamatele kaupadele ja teenustele laevas. Kirjeldatud mõjud avalduvad enim Eesti-Rootsi ja Soome-Rootsi segmentide tulemis, mis on langenud vaastavalt 7,8 ja 10,8 miljoni euro (122 ja 169 miljon krooni) võrra võrreldes eelmise majandusaasta üheksa kuuga. Majandusaasta üheksa kuu jooksul on Rootsi krooni kurss euro vastu olnud väga volatiilne, kuni 25% madalam eelmise majandusaasta tasemetest. Kuna Rootsist lähtuvatel liinidel toimub müük ka Rootsi kroonides, siis on kursi languse negatiivne mõju käesoleva majandusaasta üheksa kuu tuludele hinnanguliselt ligikaudu 15 miljonit eurot (234 miljonit krooni). Aprillis alustas Tallinn-Stockholmi liinil opereerimist Kontserni uusim kruiisilaev Baltic Queen, vahetades seal välja 2002. aastal ehitatud Romantika, mis omakorda suundus Riia-Stockholmi liinile. Uue laeva liiniletulekuga ja laevade liinivahetusega seotud ühekordsed käivituskulud olid lgikaudu 2 miljonit eurot (31 miljonit krooni). Kontserni 2008/2009 majandusaasta üheksa kuu finantskulude, maksude ja kulumieelne kasum EBITDA oli 59,6 miljonit eurot (932 miljonit krooni), mis on 23% väiksem võrreldes möödunud majandusaasta sama perioodiga. Madalamast opereerimistulemusest, kasvanud amortisatsioonikuludest ning suurematest finantskuludest tingituna oli käesoleva majandusaasta üheksa kuu kahjum 39,9 miljonit eurot (624 miljonit krooni) võrreldes eelmise majandusaasta üheksa kuu 9,1 miljoni euro (143 miljoni krooni) suuruse kahjumiga. Juhatus ei ole Kontserni üheksa kuu tulemustega rahul ja otsib lisaks täiendavaid kulude kokkuhoiu võimalusi Kontsernis. Kõrge prioriteediga on vanade laevade müük või neile renditulude leidmine. Kontserni administratiivkulud on üheksa kuu jooksul langenud 20% ehk 9 miljoni euro (141 miljoni krooni) võrra võrreldes eelmise majandusaasta sama perioodiga, kuid eesmärgiks on rakendada veel täiendavalt kaldakulude kokkuhoidu administratiivtegevuses kui ka marketingi osas. Juhatus teeb ettepaneku Nõukogule, et vähendada juhatuse liikmete töötasu 20% võrra ja tipp- ning keskastmejuhtide töötasusid kuni 15% võrra ning töötab erinevate võimalike lahendustega, et vähendada personalikulusid ka põhitegevuses. Juhatus töötab läbi ka erinevaid restruktureerimise stsenaariumeid, mis hõlmavad muuhulgas võimalikke muutusi liinidel, laevade müüke või ka prahtimisi. Hoolimata märkimisväärsest reisijate arvu suurenemisest taandus selle positiivne efekt juba müügitulude tasandil mõjutatuna kaubaveotulude langusest, Rootsi krooni nõrgenemisest ja tarbijate käitumise muutustest. Madalam keskmine tulu reisija kohta mõjutab jätkuvalt kontserni müügitulusid ja kasumit. Muutused on toimunud ka eelbroneeringutes - laevasõidud broneeritakse järjest hilisemas faasis, mis muutustega reisijate käitumises tarbimisel lisavad ebakindlust lähituleviku väljavaadetele. Kuigi majandusaasta neljas kvartal on kõrghooaeg ja Kontsernile kasumlik, võib see kasum olla mitte piisav, et katta üheksa kuu kahjumit. KONSOLIDEERITUD KASUMIARUANNE -------------------------------------------------------------------------------- | (auditeerimata, | 01.03.2009-| 01.03.2008| 01.09.2008 | 01.09.2007 | | tuhandetes kroonides) | | | | | -------------------------------------------------------------------------------- | | 31.05.2009 | 31.05.2008| 31.05.2009 | 31.05.2008 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 2,752,006 | 2,936,043 | 8,402,366 | 8,599,203 | -------------------------------------------------------------------------------- | Müüdud kauba ja teenuse | -2,389,378 | -2,322,753| -7,080,942 | -6,837,587 | | kulu | | | | | -------------------------------------------------------------------------------- | Brutokasum | 362,628 | 613,290 | 1,321,424 | 1,761,616 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | -220,619 | -208,673 | -623,253 | -588,913 | -------------------------------------------------------------------------------- | Üldhalduskulud | -183,610 | -224,196 | -552,614 | -693,373 | -------------------------------------------------------------------------------- | Muud äritulud | 382 | 19,308 | 4,127 | 37,699 | -------------------------------------------------------------------------------- | Muud ärikulud | -1,459 | -151 | -4,586 | -1,025 | -------------------------------------------------------------------------------- | Finantstulud | 21,829 | 17,622 | 119,601 | 48,234 | -------------------------------------------------------------------------------- | Finantskulud | -249,784 | -251,302 | -889,305 | -707,004 | -------------------------------------------------------------------------------- | Kasum sidusettevõtte | 782 | 0 | 782 | 0 | | aktsiatest | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/-kahjum enne | -269,851 | -34,102 | -623,824 | -142,766 | | tulumaksu | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tulumaks | 18 | -62 | 0 | -172 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aruandeperioodi | -269,833 | -34,164 | -623,824 | -142,938 | | puhaskasum/-kahjum | | | | | -------------------------------------------------------------------------------- | Sh. | | | | | -------------------------------------------------------------------------------- | | Emaettevõtte omanike | -269,833 | -34,164 | -623,824 | -142,938 | | | osa | | | | | | | puhaskasumist/-kahjumi | | | | | | | st | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum aktsia kohta | | | | | | (EEK-ides ühe aktsia | | | | | | kohta) | | | | | -------------------------------------------------------------------------------- | | - tava | -0.40 | -0.05 | -0.93 | -0.21 | -------------------------------------------------------------------------------- | | - lahustatud | -0.40 | -0.05 | -0.93 | -0.21 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | (auditeerimata, | 01.03.2009 | 01.03.2008| 01.09.2008 | 01.09.2007 | | tuhandetes eurodes) | - | - | - | - | -------------------------------------------------------------------------------- | | 31.05.2009 | 31.05.2008| 31.05.2009 | 31.05.2008 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 175,885 | 187,647 | 537,009 | 549,589 | -------------------------------------------------------------------------------- | Müüdud kauba ja teenuse | -152,709 | -148,451 | -452,555 | -437,001 | | kulu | | | | | -------------------------------------------------------------------------------- | Brutokasum | 23,176 | 39,196 | 84,454 | 112,588 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | -14,100 | -13,336 | -39,833 | -37,638 | -------------------------------------------------------------------------------- | Üldhalduskulud | -11,734 | -14,329 | -35,318 | -44,315 | -------------------------------------------------------------------------------- | Muud äritulud | 23 | 1,234 | 263 | 2,409 | -------------------------------------------------------------------------------- | Muud ärikulud | -93 | -10 | -293 | -65 | -------------------------------------------------------------------------------- | Finantstulud | 1,395 | 1,127 | 7,644 | 3,083 | -------------------------------------------------------------------------------- | Finantskulud | -15,964 | -16,061 | -56,837 | -45,186 | -------------------------------------------------------------------------------- | Kasum sidusettevõtte | 50 | 0 | 50 | 0 | | aktsiatest | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/-kahjum enne | -17,247 | -2,179 | -39,870 | -9,124 | | tulumaksu | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tulumaks | 1 | -4 | 0 | -11 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aruandeperioodi | -17,246 | -2,183 | -39,870 | -9,135 | | puhaskasum/-kahjum | | | | | -------------------------------------------------------------------------------- | Sh. | | | | | -------------------------------------------------------------------------------- | | Emaettevõtte omanike | -17,246 | -2,183 | -39,870 | -9,135 | | | osa | | | | | | | puhaskasumist/-kahjumi | | | | | | | st | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum aktsia kohta | | | | | | (EUR-ides ühe aktsia | | | | | | kohta) | | | | | -------------------------------------------------------------------------------- | | - tava | -0.03 | -0.00 | -0.06 | -0.01 | -------------------------------------------------------------------------------- | | - lahustatud | -0.03 | -0.00 | -0.06 | -0.01 | -------------------------------------------------------------------------------- KONSOLIDEERITUD BILANSS (auditeerimata, tuhandetes kroonides) -------------------------------------------------------------------------------- | VARAD | 31.05.2009 | 31.08.2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Käibevara | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 453,159 | 1,043,785 | -------------------------------------------------------------------------------- | Nõuded | 878,659 | 1,177,342 | -------------------------------------------------------------------------------- | Ettemaksed | 122,045 | 111,522 | -------------------------------------------------------------------------------- | Derivatiivid | 147,814 | 51,884 | -------------------------------------------------------------------------------- | Varud | 307,630 | 358,480 | -------------------------------------------------------------------------------- | Käibevara kokku | 1,909,307 | 2,743,013 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Põhivara | | | -------------------------------------------------------------------------------- | Investeeringud sidusettevõtetesse | 8,342 | 2,222 | -------------------------------------------------------------------------------- | Muud finantsvarad ja ettemaksed | 7,602 | 7,700 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksuvara | 199,849 | 199,851 | -------------------------------------------------------------------------------- | Kinnisvarainvesteering | 4,694 | 4,694 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 27,299,068 | 25,518,298 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 1,166,807 | 1,226,023 | -------------------------------------------------------------------------------- | Põhivara kokku | 28,686,362 | 26,958,788 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | VARAD KOKKU | 30,595,669 | 29,701,801 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 2,721,171 | 2,200,220 | -------------------------------------------------------------------------------- | Võlad | 1,495,356 | 1,621,711 | -------------------------------------------------------------------------------- | Ettemakstud tulud | 225,187 | 138,752 | -------------------------------------------------------------------------------- | Derivatiivid | 120,526 | 5,351 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 4,562,240 | 3,966,034 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 16,262,435 | 15,324,355 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksukohustus | 16,147 | 16,147 | -------------------------------------------------------------------------------- | Muud kohustused | 1,236 | 1,643 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 16,279,818 | 15,342,145 | -------------------------------------------------------------------------------- | Kohustused kokku | 20,842,058 | 19,308,179 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OMAKAPITAL | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv omakapital | | | -------------------------------------------------------------------------------- | Aktsiakapital nimiväärtuses | 6,738,170 | 6,738,170 | -------------------------------------------------------------------------------- | Ülekurss | 9,999 | 9,999 | -------------------------------------------------------------------------------- | Reservid | 1,150,783 | 1,151,071 | -------------------------------------------------------------------------------- | Jaotamata kasum | 1,854,659 | 2,494,382 | -------------------------------------------------------------------------------- | Emaettevõtte omanikele kuuluv omakapital kokku | 9,753,611 | 10,393,622 | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 9,753,611 | 10,393,622 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 30,595,669 | 29,701,801 | -------------------------------------------------------------------------------- KONSOLIDEERITUD BILANSS (auditeerimata, tuhandetes eurodes) -------------------------------------------------------------------------------- | VARAD | 31.05.2009 | 31.08.2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Käibevara | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 28,962 | 66,710 | -------------------------------------------------------------------------------- | Nõuded | 56,157 | 75,246 | -------------------------------------------------------------------------------- | Ettemaksed | 7,800 | 7,127 | -------------------------------------------------------------------------------- | Derivatiivid | 9,447 | 3,316 | -------------------------------------------------------------------------------- | Varud | 19,661 | 22,911 | -------------------------------------------------------------------------------- | Käibevara kokku | 122,027 | 175,310 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Põhivara | | | -------------------------------------------------------------------------------- | Investeeringud sidusettevõtetesse | 533 | 142 | -------------------------------------------------------------------------------- | Muud finantsvarad ja ettemaksed | 486 | 492 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksuvara | 12,773 | 12,773 | -------------------------------------------------------------------------------- | Kinnisvarainvesteering | 300 | 300 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 1,744,728 | 1,630,917 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 74,573 | 78,357 | -------------------------------------------------------------------------------- | Põhivara kokku | 1,833,393 | 1,722,981 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | VARAD KOKKU | 1,955,420 | 1,898,291 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 173,915 | 140,620 | -------------------------------------------------------------------------------- | Võlad | 95,571 | 103,646 | -------------------------------------------------------------------------------- | Ettemakstud tulud | 14,392 | 8,868 | -------------------------------------------------------------------------------- | Derivatiivid | 7,703 | 342 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 291,581 | 253,476 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 1,039,359 | 979,405 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksukohustus | 1,032 | 1,032 | -------------------------------------------------------------------------------- | Muud kohustused | 79 | 105 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 1,040,470 | 980,542 | -------------------------------------------------------------------------------- | Kohustused kokku | 1,332,051 | 1,234,018 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OMAKAPITAL | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv omakapital | | | -------------------------------------------------------------------------------- | Aktsiakapital nimiväärtuses | 430,648 | 430,648 | -------------------------------------------------------------------------------- | Ülekurss | 639 | 639 | -------------------------------------------------------------------------------- | Reservid | 73,548 | 73,566 | -------------------------------------------------------------------------------- | Jaotamata kasum | 118,534 | 159,420 | -------------------------------------------------------------------------------- | Emaettevõtte omanikele kuuluv omakapital kokku | 623,369 | 664,273 | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 623,369 | 664,273 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 1,955,420 | 1,898,291 | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes kroonides) | 01.09.2008 | 01.09.2007- | | | - | | -------------------------------------------------------------------------------- | | | 31.05.2009 | 31.05.2008 | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi puhaskasum/-kahjum | -623,824 | -142,938 | -------------------------------------------------------------------------------- | Korrigeerimised | 1,508,012 | 1,339,130 | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete muutus | 115,809 | -411,372 | -------------------------------------------------------------------------------- | Äritegevusega seotud varude muutus | 50,850 | -52,273 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste muutus | 37,136 | 279,939 | -------------------------------------------------------------------------------- | Makstud/-ettemakstud tulumaks | 6 | 288 | -------------------------------------------------------------------------------- | | 1,087,989 | 1,012,774 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse põhivara ja immateriaalse vara | -2,521,923 | -2,142,902 | | soetamine | | | -------------------------------------------------------------------------------- | Laekumised materiaalse põhivara müügist | 17,693 | 200,536 | -------------------------------------------------------------------------------- | Tütarettevõtte soetamine | 0 | 1,885 | -------------------------------------------------------------------------------- | Sidusettevõtte soetamine | -6,120 | -2,040 | -------------------------------------------------------------------------------- | Saadud dividendid | 782 | 0 | -------------------------------------------------------------------------------- | Laekumised/-maksed derivatiividest | -37,388 | 35,221 | -------------------------------------------------------------------------------- | Saadud intressid | 5,519 | 8,501 | -------------------------------------------------------------------------------- | | -2,541,437 | -1,898,799 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Aktsiatega seotud kulud | 0 | -65 | -------------------------------------------------------------------------------- | Omaaktsiate tagasiostmine | 0 | -65,067 | -------------------------------------------------------------------------------- | Laekumised laenudest | 2,427,150 | 1,401,617 | -------------------------------------------------------------------------------- | Laenude tagasimaksed | -1,315,471 | -1,192,822 | -------------------------------------------------------------------------------- | Kasutatud arvelduskrediidi muutus | 330,076 | 531,195 | -------------------------------------------------------------------------------- | Kapitalirendi põhimaksete tasumine | -6,763 | -10,030 | -------------------------------------------------------------------------------- | Makstud intressid | -572,170 | -637,450 | -------------------------------------------------------------------------------- | | 862,822 | 27,378 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RAHAVOOD KOKKU | -590,626 | -858,647 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | | -------------------------------------------------------------------------------- | - perioodi alguses | 1,043,785 | 1,303,609 | -------------------------------------------------------------------------------- | - suurenemine (+) / vähenemine (-) | -590,626 | -858,647 | -------------------------------------------------------------------------------- | - perioodi lõpus | 453,159 | 444,962 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes eurodes) | 01.09.2008 | 01.09.2007- | | | - | | -------------------------------------------------------------------------------- | | | 31.05.2009 | 31.05.2008 | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi puhaskasum/-kahjum | -39,870 | -9,135 | -------------------------------------------------------------------------------- | Korrigeerimised | 96,380 | 85,586 | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete muutus | 7,402 | -26,291 | -------------------------------------------------------------------------------- | Varude muutus | 3,250 | -3,341 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste muutus | 2,373 | 17,891 | -------------------------------------------------------------------------------- | Makstud/-ettemakstud tulumaks | 0 | 18 | -------------------------------------------------------------------------------- | | 69,535 | 64,728 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse põhivara ja immateriaalse vara | -161,181 | -136,956 | | soetamine | | | -------------------------------------------------------------------------------- | Laekumised materiaalse põhivara müügist | 1,131 | 12,817 | -------------------------------------------------------------------------------- | Tütarettevõtte soetamine | 0 | 120 | -------------------------------------------------------------------------------- | Sidusettevõtte soetamine | -391 | -130 | -------------------------------------------------------------------------------- | Saadud dividendid | 50 | 0 | -------------------------------------------------------------------------------- | Laekumised/-maksed derivatiividest | -2,390 | 2,251 | -------------------------------------------------------------------------------- | Saadud intressid | 353 | 543 | -------------------------------------------------------------------------------- | | -162,428 | -121,355 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Aktsiatega seotud kulud | 0 | -4 | -------------------------------------------------------------------------------- | Omaaktsiate tagasiostmine | 0 | -4,159 | -------------------------------------------------------------------------------- | Laekumised laenudest | 155,123 | 89,580 | -------------------------------------------------------------------------------- | Laenude tagasimaksed | -84,074 | -76,235 | -------------------------------------------------------------------------------- | Kasutatud arvelduskrediidi muutus | 21,096 | 33,950 | -------------------------------------------------------------------------------- | Kapitalirendi põhimaksete tasumine | -432 | -641 | -------------------------------------------------------------------------------- | Makstud intressid | -36,568 | -40,741 | -------------------------------------------------------------------------------- | | 55,145 | 1,750 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RAHAVOOD KOKKU | -37,748 | -54,877 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | | -------------------------------------------------------------------------------- | - perioodi alguses | 66,710 | 83,315 | -------------------------------------------------------------------------------- | - suurenemine (+) / vähenemine (-) | -37,748 | -54,877 | -------------------------------------------------------------------------------- | - perioodi lõpus | 28,962 | 28,438 | -------------------------------------------------------------------------------- Janek Stalmeister Finantsdirektor AS Tallink Grupp Tel. +372 6409 800 e-mail: janek.stalmeister@tallink.ee
Pealkiri
Tallink Grupp 2008/2009 financial year 9 months unaudited interim report
Teade
AS Tallink Grupp and its subsidiaries (hereinafter also referred to as the Group) nine months operations (September-May) were affected by weak macro economical situation. The Group revenues in the nine months of the 2008/2009 financial year were EUR 537 million (EEK 8 402 million) being 2.3% lower than in the same period of the last financial. The revenues from the passenger operations increased by EUR 17 million (EEK 266 million) supported by higher passenger volumes. However, this increase was able to compensate only part of EUR 37 million (EEK 579 million) decrease in the cargo revenues. During the third quarter (March-May), the decrease of total Group revenues was EUR 12 million (EEK 184 million) driven by the cargo revenue decrease by almost EUR 14 million (EEK 221 million) compared to the third quarter of the previous financial year. While passenger volume increased by 12% during the third quarter, the revenues from the passenger operations did not increase. The slowdown in passenger spending, weak SEK/EUR exchange rate, extensive sales campaigns and passengers overall expectations to the lower ticket pricing have resulted in the decrease of average income per passenger. The above described changes have impacted mostly the Sweden-Estonia and Sweden-Finland routes which segment result decreased by EUR 7.8 million and EUR 10.8 million (EEK 122 and 169 million) respectively. SEK exchange rate against Euro has been highly volatile during the nine months of the current financial year, being at the lowest point nearly 25% weaker compared to the last financial year. The estimated negative impact to the Group sales from weak SEK/EUR exchange rate was EUR 15 million (EEK 234 million) during the nine months period In April the Group's newest cruise ferry Baltic Queen started operations on Tallinn-Stockholm route where cruise ferry Romantika was replaced and moved to Riga-Stockholm route. The re-routing and launch related start-up costs were around EUR 2 million (EEK 31 million). The Group EBITDA for the nine months of 2008/2009 financial year amounted to EUR 59.6 million (EEK 932 million) which is 23% less than in the nine months of the last financial year. Due to the lower operational performance, increased depreciation and higher financial items the net loss for the nine months of 2008/2009 financial year was EUR 39.9 million (EEK 624 million) compared to the net loss of EUR 9.1 million (EEK 143 million) in the nine months of the previous financial year. The management is not pleased with the Group's performance in the third quarter and is looking for the additional cost cuttings in the Group operations. The sales or rent of older vessels has high priority. The administrative costs have decreased by 20% or EUR 9 million (EEK 141 million) during the nine months of the 2008/2009 financial year, but additional cost savings will be implemented in order to justify to the changed situation. The Management Board will propose to the Supervisory Council to cut its salary by 20% and the pays for the rest of Group's top and middle level executives by up to 15%. Management works to find different solutions for the reduction of staff costs in the operations and plans different restructuring scenarios, including potential changes in the routes and sales or rent of the ships. Despite the passenger volume has shown strong growth, the positive effect is zeroed already on the revenue level by significant cargo decrease, Swedish krona weakness on the retail sales and by the change in the customers' behavior. The lower average income per passenger continues to impact the Group revenues and thereby also the earnings. Also the booking behavior has changed as the passengers book their journeys later than in the past. This adds uncertainty for the outlook of the coming future. Although the last quarter is high season in the passenger operations and will be profitable, it will probably not be sufficient to cover the loss accumulated during the nine months of the current financial year. CONSOLIDATED CONDENSED INCOME STATEMENT -------------------------------------------------------------------------------- | (unaudited, in thousands | 01.03.2009| 01.03.2008| 01.09.2008 | 01.09.2007 | | of EEK) | - | - | - | - | -------------------------------------------------------------------------------- | | 31.05.2009| 31.05.2008| 31.05.2009 | 31.05.2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net sales | 2,752,006 | 2,936,043 | 8,402,366 | 8,599,203 | -------------------------------------------------------------------------------- | Cost of sales | -2,389,378|-2,322,753 | -7,080,942 | -6,837,587 | -------------------------------------------------------------------------------- | Gross profit | 362,628 | 613,290 | 1,321,424 | 1,761,616 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | -220,619 | -208,673 | -623,253 | -588,913 | -------------------------------------------------------------------------------- | Administrative and general | -183,610 | -224,196 | -552,614 | -693,373 | | expenses | | | | | -------------------------------------------------------------------------------- | Other income | 382 | 19,308 | 4,127 | 37,699 | -------------------------------------------------------------------------------- | Other expenses | -1,459 | -151 | -4,586 | -1,025 | -------------------------------------------------------------------------------- | Financial income | 21,829 | 17,622 | 119,601 | 48,234 | -------------------------------------------------------------------------------- | Financial expenses | -249,784 | -251,302 | -889,305 | -707,004 | -------------------------------------------------------------------------------- | Profit from associates | 782 | 0 | 782 | 0 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit/-loss from normal | -269,851 | -34,102 | -623,824 | -142,766 | | operation before income | | | | | | tax | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Income tax | 18 | -62 | 0 | -172 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit/-loss for the | -269,833 | -34,164 | -623,824 | -142,938 | | period | | | | | -------------------------------------------------------------------------------- | Attributable to: | | | | | -------------------------------------------------------------------------------- | | Equity holders of the | -269,833 | -34,164 | -623,824 | -142,938 | | | parent | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share (in EEK | | | | | | per share) | | | | | -------------------------------------------------------------------------------- | | - basic | -0.40 | -0.05 | -0.93 | -0.21 | -------------------------------------------------------------------------------- | | - diluted | -0.40 | -0.05 | -0.93 | -0.21 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | (unaudited, in thousands | 01.03.2009| 01.03.2008| 01.09.2008 | 01.09.2007 | | of EUR) | - | - | - | - | -------------------------------------------------------------------------------- | | 31.05.2009| 31.05.2008| 31.05.2009 | 31.05.2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net sales | 175,885 | 187,647 | 537,009 | 549,589 | -------------------------------------------------------------------------------- | Cost of sales | -152,709 | -148,451 | -452,555 | -437,001 | -------------------------------------------------------------------------------- | Gross profit | 23,176 | 39,196 | 84,454 | 112,588 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | -14,100 | -13,336 | -39,833 | -37,638 | -------------------------------------------------------------------------------- | Administrative and general | -11,734 | -14,329 | -35,318 | -44,315 | | expenses | | | | | -------------------------------------------------------------------------------- | Other income | 23 | 1,234 | 263 | 2,409 | -------------------------------------------------------------------------------- | Other expenses | -93 | -10 | -293 | -65 | -------------------------------------------------------------------------------- | Financial income | 1,395 | 1,127 | 7,644 | 3,083 | -------------------------------------------------------------------------------- | Financial expenses | -15,964 | -16,061 | -56,837 | -45,186 | -------------------------------------------------------------------------------- | Profit from associates | 50 | 0 | 50 | 0 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit/-loss from normal | -17,247 | -2,179 | -39,870 | -9,124 | | operation before income | | | | | | tax | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Income tax | 1 | -4 | 0 | -11 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit/-loss for the | -17,246 | -2,183 | -39,870 | -9,135 | | period | | | | | -------------------------------------------------------------------------------- | Attributable to: | | | | | -------------------------------------------------------------------------------- | | Equity holders of the | -17,246 | -2,183 | -39,870 | -9,135 | | | parent | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share (in EUR | | | | | | per share) | | | | | -------------------------------------------------------------------------------- | | - basic | -0.03 | -0.00 | -0.06 | -0.01 | -------------------------------------------------------------------------------- | | - diluted | -0.03 | -0.00 | -0.06 | -0.01 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED BALANCE SHEET (unaudited, in thousands of EEK) -------------------------------------------------------------------------------- | ASSETS | 31.05.2009 | 31.08.2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current assets | | | -------------------------------------------------------------------------------- | Cash and cash equivalents | 453,159 | 1,043,785 | -------------------------------------------------------------------------------- | Receivables | 878,659 | 1,177,342 | -------------------------------------------------------------------------------- | Prepayments | 122,045 | 111,522 | -------------------------------------------------------------------------------- | Derivatives | 147,814 | 51,884 | -------------------------------------------------------------------------------- | Inventories | 307,630 | 358,480 | -------------------------------------------------------------------------------- | Total current assets | 1,909,307 | 2,743,013 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current assets | | | -------------------------------------------------------------------------------- | Investments in associates | 8,342 | 2,222 | -------------------------------------------------------------------------------- | Other financial assets and prepayments | 7,602 | 7,700 | -------------------------------------------------------------------------------- | Deferred income tax assets | 199,849 | 199,851 | -------------------------------------------------------------------------------- | Investment property | 4,694 | 4,694 | -------------------------------------------------------------------------------- | Property, plant and equipment | 27,299,068 | 25,518,298 | -------------------------------------------------------------------------------- | Intangible assets | 1,166,807 | 1,226,023 | -------------------------------------------------------------------------------- | Total non-current assets | 28,686,362 | 26,958,788 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 30,595,669 | 29,701,801 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | LIABILITIES AND EQUITY | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current liabilities | | | -------------------------------------------------------------------------------- | Current portion of interest-bearing liabilities | 2,721,171 | 2,200,220 | -------------------------------------------------------------------------------- | Payables | 1,495,356 | 1,621,711 | -------------------------------------------------------------------------------- | Deferred income | 225,187 | 138,752 | -------------------------------------------------------------------------------- | Derivatives | 120,526 | 5,351 | -------------------------------------------------------------------------------- | Total current liabilities | 4,562,240 | 3,966,034 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current liabilities | | | -------------------------------------------------------------------------------- | Interest bearing loans and borrowings | 16,262,435 | 15,324,355 | -------------------------------------------------------------------------------- | Deferred income tax liability | 16,147 | 16,147 | -------------------------------------------------------------------------------- | Other liabilities | 1,236 | 1,643 | -------------------------------------------------------------------------------- | Total non-current liabilities | 16,279,818 | 15,342,145 | -------------------------------------------------------------------------------- | TOTAL LIABILITIES | 20,842,058 | 19,308,179 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EQUITY | | | -------------------------------------------------------------------------------- | Equity attributable to equity holders of the | | | | parent | | | -------------------------------------------------------------------------------- | Share capital | 6,738,170 | 6,738,170 | -------------------------------------------------------------------------------- | Share premium | 9,999 | 9,999 | -------------------------------------------------------------------------------- | Reserves | 1,150,783 | 1,151,071 | -------------------------------------------------------------------------------- | Retained earnings | 1,854,659 | 2,494,382 | -------------------------------------------------------------------------------- | Total equity attributable to equity holders of | 9,753,611 | 10,393,622 | | the parent | | | -------------------------------------------------------------------------------- | TOTAL EQUITY | 9,753,611 | 10,393,622 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES AND EQUITY | 30,595,669 | 29,701,801 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED BALANCE SHEET (unaudited, in thousands of EUR) -------------------------------------------------------------------------------- | ASSETS | 31.05.2009 | 31.08.2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current assets | | | -------------------------------------------------------------------------------- | Cash and cash equivalents | 28,962 | 66,710 | -------------------------------------------------------------------------------- | Receivables | 56,157 | 75,246 | -------------------------------------------------------------------------------- | Prepayments | 7,800 | 7,127 | -------------------------------------------------------------------------------- | Derivatives | 9,447 | 3,316 | -------------------------------------------------------------------------------- | Inventories | 19,661 | 22,911 | -------------------------------------------------------------------------------- | Total current assets | 122,027 | 175,310 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current assets | | | -------------------------------------------------------------------------------- | Investments in associates | 533 | 142 | -------------------------------------------------------------------------------- | Other financial assets and prepayments | 486 | 492 | -------------------------------------------------------------------------------- | Deferred income tax assets | 12,773 | 12,773 | -------------------------------------------------------------------------------- | Investment property | 300 | 300 | -------------------------------------------------------------------------------- | Property, plant and equipment | 1,744,728 | 1,630,917 | -------------------------------------------------------------------------------- | Intangible assets | 74,573 | 78,357 | -------------------------------------------------------------------------------- | Total non-current assets | 1,833,393 | 1,722,981 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 1,955,420 | 1,898,291 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | LIABILITIES AND EQUITY | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current liabilities | | | -------------------------------------------------------------------------------- | Current portion of interest-bearing liabilities | 173,915 | 140,620 | -------------------------------------------------------------------------------- | Payables | 95,571 | 103,646 | -------------------------------------------------------------------------------- | Deferred income | 14,392 | 8,868 | -------------------------------------------------------------------------------- | Derivatives | 7,703 | 342 | -------------------------------------------------------------------------------- | Total current liabilities | 291,581 | 253,476 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current liabilities | | | -------------------------------------------------------------------------------- | Interest bearing loans and borrowings | 1,039,359 | 979,405 | -------------------------------------------------------------------------------- | Deferred income tax | 1,032 | 1,032 | -------------------------------------------------------------------------------- | Other liabilities | 79 | 105 | -------------------------------------------------------------------------------- | Total non-current liabilities | 1,040,470 | 980,542 | -------------------------------------------------------------------------------- | TOTAL LIABILITIES | 1,332,051 | 1,234,018 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EQUITY | | | -------------------------------------------------------------------------------- | Equity attributable to equity holders of the | | | | parent | | | -------------------------------------------------------------------------------- | Share capital | 430,648 | 430,648 | -------------------------------------------------------------------------------- | Share premium | 639 | 639 | -------------------------------------------------------------------------------- | Reserves | 73,548 | 73,566 | -------------------------------------------------------------------------------- | Retained earnings | 118,534 | 159,420 | -------------------------------------------------------------------------------- | Total equity attributable to equity holders of | 623,369 | 664,273 | | the parent | | | -------------------------------------------------------------------------------- | TOTAL EQUITY | 623,369 | 664,273 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES AND EQUITY | 1,955,420 | 1,898,291 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED CASH FLOW STATEMENT -------------------------------------------------------------------------------- | (unaudited, in thousands of EEK) | 01.09.2008- | 01.09.2007- | -------------------------------------------------------------------------------- | | | 31.05.2009 | 31.05.2008 | -------------------------------------------------------------------------------- | Cash flows from operating activities | | | -------------------------------------------------------------------------------- | Net profit/-loss for the period | -623,824 | -142,938 | -------------------------------------------------------------------------------- | Adjustments | 1,508,012 | 1,339,130 | -------------------------------------------------------------------------------- | Changes in assets related to operating | 115,809 | -411,372 | | activities | | | -------------------------------------------------------------------------------- | Changes in inventories | 50,850 | -52,273 | -------------------------------------------------------------------------------- | Changes in liabilities related to operating | 37,136 | 279,939 | | activities | | | -------------------------------------------------------------------------------- | Income tax repaid/-paid | 6 | 288 | -------------------------------------------------------------------------------- | | 1,087,989 | 1,012,774 | -------------------------------------------------------------------------------- | Cash flow used for investing activities | | | -------------------------------------------------------------------------------- | Purchase of property, plant, equipment and | -2,521,923 | -2,142,902 | | intangible assets | | | -------------------------------------------------------------------------------- | Proceeds from disposals of property, plant, | 17,693 | 200,536 | | equipment | | | -------------------------------------------------------------------------------- | Acquisition of subsidiary | 0 | 1,885 | -------------------------------------------------------------------------------- | Acquisition of associate | -6,120 | -2,040 | -------------------------------------------------------------------------------- | Dividends received | 782 | 0 | -------------------------------------------------------------------------------- | Proceeds/-payments from settlement of | -37,388 | 35,221 | | derivatives | | | -------------------------------------------------------------------------------- | Interest received | 5,519 | 8,501 | -------------------------------------------------------------------------------- | | -2,541,437 | -1,898,799 | -------------------------------------------------------------------------------- | Cash flow from (+)/ used for (-) financing | | | | activities | | | -------------------------------------------------------------------------------- | Payment of transaction costs | 0 | -65 | -------------------------------------------------------------------------------- | Repurchase of own shares | 0 | -65,067 | -------------------------------------------------------------------------------- | Proceeds from loans | 2,427,150 | 1,401,617 | -------------------------------------------------------------------------------- | Redemption of loans | -1,315,471 | -1,192,822 | -------------------------------------------------------------------------------- | Change in overdraft | 330,076 | 531,195 | -------------------------------------------------------------------------------- | Repayment of finance lease liabilities | -6,763 | -10,030 | -------------------------------------------------------------------------------- | Interest paid | -572,170 | -637,450 | -------------------------------------------------------------------------------- | | 862,822 | 27,378 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL NET CASH FLOW | -590,626 | -858,647 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash and cash equivalents: | | | -------------------------------------------------------------------------------- | - at the beginning of period | 1,043,785 | 1,303,609 | -------------------------------------------------------------------------------- | - increase (+) / decrease (-) | -590,626 | -858,647 | -------------------------------------------------------------------------------- | Cash and cash equivalents at end of period | 453,159 | 444,962 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | (unaudited, in thousands of EUR) | 01.09.2008- | 01.09.2007- | -------------------------------------------------------------------------------- | | | 31.05.2009 | 31.05.2008 | -------------------------------------------------------------------------------- | Cash flows from operating activities | | | -------------------------------------------------------------------------------- | Net profit/-loss for the period | -39,870 | -9,135 | -------------------------------------------------------------------------------- | Adjustments | 96,380 | 85,586 | -------------------------------------------------------------------------------- | Changes in assets related to operating | 7,402 | -26,291 | | activities | | | -------------------------------------------------------------------------------- | Changes in inventories | 3,250 | -3,341 | -------------------------------------------------------------------------------- | Changes in liabilities related to operating | 2,373 | 17,891 | | activities | | | -------------------------------------------------------------------------------- | Income tax repaid/-paid | 0 | 18 | -------------------------------------------------------------------------------- | | 69,535 | 64,728 | -------------------------------------------------------------------------------- | Cash flow used for investing activities | | | -------------------------------------------------------------------------------- | Purchase of property, plant, equipment and | -161,181 | -136,956 | | intangible assets | | | -------------------------------------------------------------------------------- | Proceeds from disposals of property, plant, | 1,131 | 12,817 | | equipment | | | -------------------------------------------------------------------------------- | Acquisition of subsidiary | 0 | 120 | -------------------------------------------------------------------------------- | Acquisition of associate | -391 | -130 | -------------------------------------------------------------------------------- | Dividends received | 50 | 0 | -------------------------------------------------------------------------------- | Proceeds from settlement of derivatives | -2,390 | 2,251 | -------------------------------------------------------------------------------- | Interest received | 353 | 543 | -------------------------------------------------------------------------------- | | -162,428 | -121,355 | -------------------------------------------------------------------------------- | Cash flow from (+)/ used for (-) financing | | | | activities | | | -------------------------------------------------------------------------------- | Payment of transaction costs | 0 | -4 | -------------------------------------------------------------------------------- | Repurchase of own shares | 0 | -4,159 | -------------------------------------------------------------------------------- | Proceeds from loans | 155,123 | 89,580 | -------------------------------------------------------------------------------- | Redemption of loans | -84,074 | -76,235 | -------------------------------------------------------------------------------- | Change in overdraft | 21,096 | 33,950 | -------------------------------------------------------------------------------- | Repayment of finance lease liabilities | -432 | -641 | -------------------------------------------------------------------------------- | Interest paid | -36,568 | -40,741 | -------------------------------------------------------------------------------- | | 55,145 | 1,750 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL NET CASH FLOW | -37,748 | -54,877 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash and cash equivalents: | | | -------------------------------------------------------------------------------- | - at the beginning of period | 66,710 | 83,315 | -------------------------------------------------------------------------------- | - increase (+) / decrease (-) | -37,748 | -54,877 | -------------------------------------------------------------------------------- | Cash and cash equivalents at end of period | 28,962 | 28,438 | -------------------------------------------------------------------------------- Janek Stalmeister Financial Director AS Tallink Grupp Tel. +372 6409 800 e-mail: janek.stalmeister@tallink.ee