Börsiteade
AS Tallink Grupp
Kategooria
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Manused
Kuupäev
26.10.2009 16:01:43
Pealkiri
2008/2009 majandusaasta 12 kuu auditeerimata tulemused
Teade
AS-i Tallink Grupp ja tema tütarettevõtete (edaspidi „Kontsern”) 2008/2009 majandusaasta 12 kuu müügitulu oli 792 miljonit eurot (12 390 miljonit krooni), mis on 0,8% võrra suurem eelmise majandusaasta 12 kuu müügitulust. Tänu reisijate arvu kasvule suurenes Kontserni reisijate veost tulenev müügitulu 51 miljoni euro (806 miljoni krooni) võrra. Kaubaveomahtude languse tulemusena vähenesid kaubaveotulud 2007/2008 majandusaastaga võrreldes 52 miljoni euro (815 miljoni krooni) võrra. Majandusaasta neljandas kvartalis (juuni-august) suurenes Kontserni müügitulu 18,6 miljoni euro (291 miljoni krooni), ehk 8% võrra võrreldes eelmise majandusaasta neljanda kvartaliga. Müügitulude tõusu tagas suurenenud reisijate arv ja kuna neljas kvartal on kõrghooaeg, mil reisijateveo osakaal on oluliselt kõrgem, siis kaubaveotulude langus ei saanud domineerivaks. Keskmine piletitulude langus reisija kohta pidurdus majandusaasta neljandas kvartalis, kuna võrreldes teise ja kolmanda kvartaliga ei olnud kõrghooajal vajadust nii suuremahuliste allahindluskampaaniate tegemiseks. Keskmine tarbimine reisija kohta neljandas kvartalis ületas vähesel määral eelmise majandusaasta neljanda kvartali taset. Kuna majandusaasta esimese üheksa kuu vältel tulud reisija kohta vähenesid tulenevalt madalast Rootsi krooni kursist euro vastu ning madalamast keskmisest piletihinnast, siis 12 kuu lõikes kokku jäid tulud reisija kohta siiski 5,3 euro (83 krooni) võrra väiksemaks kui 2007/2008 majandusaastal. Kontserni 2008/2009 majandusaasta 12 kuu finantskulude, maksude ja kulumieelne kasum EBITDA oli 133,1 miljonit eurot (2083 miljonit krooni), mis on 6% suurem võrreldes möödunud majandusaasta sama perioodiga. Neljandas kvartalis ulatus EBITDA 76,6 miljoni euroni (1152 miljoni kroonini), mis on 24,9 miljonit eurot (389 miljonit krooni), ehk 51% suurem kui eelmise majandusaasta neljandas kvartalis. Positiivset mõju EBITDA kasvule neljandas kvartalis avaldas eelmisest aastast madalam kütusehind ja seeläbi 18 miljoni euro (282 miljoni krooni) võrra väiksemad kütusekulud, aga ka erinevad kulude kokkuhoiu meetmed mida Kontsern möödunud 12 kuu jooksul algatas. Kontserni puhaskasum neljandas kvartalis oli 31,7 miljonit eurot (496 miljonit krooni), mis on 11% suurem kui eelmise majandusaasta samal perioodil. 2008/2009 majandusaasta 12 kuu auditeerimata puhaskahjum oli 8,2 miljonit eurot (127,9 miljonit krooni). Kontserni kasumile avaldasid mõju majandusaasta lõpus tehtud ühekordsed provisjonid ja allahindlused kokku 3,4 miljoni euro (53 miljoni krooni) ulatuses, mis kajastuvad müüdud kaupade ja teenuste kulude ning üldhalduskulude all. Finantskuludes kajastub intressiderivatiivide väärtuste ümberhindlusest tekkinud allahindlus 14,6 miljoni euro (228 miljoni krooni) võrra. Arengud neljandas kvartalis andsid kindlust, et fundamentaalselt on Kontserni ärimudel tugev. Arvestades üleüldist nõrka makromajanduse situatsiooni suutis Kontsern siiski ületada mitmeid oma eelmise majandusaasta näitajaid. Sellest hoolimata ei ole juhtkond rahul Kontserni 2008/2009 majandusaasta 12 kuu kogutulemusega. Kuigi mitmetes asjades on näha paranemist lisab meid ümbritsev nõrk majanduskeskkond jätkuvalt ettenägematuid riske Kontserni äritegevusele. Kontsernis on kõrgendatud tähelepanu kulude kokkuhoiul. Prioriteetne on vanade laevade müük või rendileandmine. 2009/2010 majandusaasta eesmärgiks on kasum. 12 KUU PÕHINÄITAJAD -------------------------------------------------------------------------------- | | 01.09.2008- | 01.09.2007- | muutus | | | 31.08.2009 | 31.08.2008 | | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Müügitulu (miljon) | 12 389 | 791,9 | 12 296 | 785,9 | 0,8% | -------------------------------------------------------------------------------- | Brutokasum (miljon) | 2 578 | 164,8 | 2 567 | 164,1 | 0,4% | -------------------------------------------------------------------------------- | Brutokasumi marginaal | 20,8% | | 20,9% | | | -------------------------------------------------------------------------------- | EBITDA (miljon) | 2 083 | 133,1 | 1 969 | 125,8 | 5,8% | -------------------------------------------------------------------------------- | EBITDA marginaal | 16,8% | | 16% | | | -------------------------------------------------------------------------------- | Puhaskasum/-kahjum | -128 | -8,2 | 304 | 19,2 | -142,7%| | (miljon) | | | | | | -------------------------------------------------------------------------------- | Puhaskasumi marginaal | -1% | | 2,5% | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Amortisatsioon | 1 094 | 69,9 | 964 | 61,6 | 13,5% | | (miljon) | | | | | | -------------------------------------------------------------------------------- | Investeeringud | 2 540 | 163,0 | 4 240 | 271,0 | -39,9% | | (miljon) | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsiate kaalutud | 669 882 040 | 671 245 086 | -0,2% | | keskmine arv esimese | | | | | kvartali jooksul* | | | | -------------------------------------------------------------------------------- | Aktsiakasum | -0,19 | -0,01 | 0,45 | 0,03 | -142% | -------------------------------------------------------------------------------- | | | | | -------------------------------------------------------------------------------- | Reisijate arv | 8 124 561 | 7 070 264 | 14,9% | -------------------------------------------------------------------------------- | Kaubaveo ühikud | 252 026 | 331 149 | -23,9% | -------------------------------------------------------------------------------- | Keskmine töötajate | 6 853 | 6 564 | 4,4% | | arv | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 31.08.2009 | 31.08.2008 | | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Varad kokku (miljon) | 30 523 | 1 951 | 29 702 | 1 898 | | -------------------------------------------------------------------------------- | Kohustused kokku | 20 467 | 1 308 | 19 513 | 1 247 | | | (miljon) | | | | | | -------------------------------------------------------------------------------- | Intressi kandvad | 18 483 | 1 181 | 17 525 | 1 120 | | | kohustused (miljon) | | | | | | -------------------------------------------------------------------------------- | Omakapital kokku | 10 056 | 643 | 10 188 | 651 | | | (miljon) | | | | | | -------------------------------------------------------------------------------- | Omakapitali määr | 33% | | 34% | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsiate arv* | 669 882 040 | 669 882 040 | | -------------------------------------------------------------------------------- | Omakapital aktsia | 15 | 0,96 | 15,2 | 0,97 | -1,3% | | kohta | | | | | | -------------------------------------------------------------------------------- Puhaskasumi marginaal - puhaskasum / müügitulu; EBITDA - finantskulude sidusettevõtjate kasumiosade maksude intresside ja kulumi eelne kasum; EBITDA marginaal - EBITDA / müügitulu; Brutokasumi marginaal - brutokasum / müügitulu Omakapitali määr - omakapital/ varad kokku; Aktsiakasum - puhaskasum / kaalutud keskmine aktsiate arv; Omakapital aktsia kohta - omakapital / aktsiate arv; * Aktsiate arv ei sisalda oma aktsiaid. Majandusaasta 12 kuu jooksul oli Rootsi krooni kurss euro vastu 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 20 miljonit eurot (313 miljonit krooni). Kui välja arvata perioodi lõpus tehtud ühekordsed provisjonid ning allahindlused, siis Kontserni üldhalduskulud ning turustuskulud vähenesid 10,4 miljoni euro (163 miljoni krooni võrra) ehk 10% võrreldes 2007/2008 majandusaasta 12 kuuga. Amortisatsioonikulud suurenesid aastaarvestuses 8,3 miljoni euro (90,8 miljoni krooni) võrra tingituna peamiselt uute laevade Superstar, Baltic Princess ning Baltic Queen investeeringutest. Finantskulude netosuurenemine 2008/2009 majandusaasta 12 kuu perioodil oli 21,5 miljonit eurot (336,8 miljonit krooni) võrreldes eelmise majandusaasta 12 kuuga. Intressikulud vähenesid 6 miljoni euro (93,7 miljoni krooni) võrra samas aga suurenesid intressi ja kütusehinnaderivatiividega seotud kulud 22,5 miljoni euro (352 miljoni krooni) võrra. Derivatiivide ümberhindlusest tulenev netokulu on 14,6 miljonit eurot (228 miljonit krooni). Derivatiivide rahavood olid negatiivsed 4 miljonit eurot (62 miljonit krooni). AS Tallink Grupp võttis 2008/2009 majandusaastal kasutusele IFRIC 13 arvestuspõhimõtted „Kliendilojaalsuse programmid“ ning seetõttu muutusid ka võrdlusperioodi andmed. Esialgses müügis saadud või saadaoleva tulu õiglane väärtus jaotatakse boonuspunktide (Club One punktid) ja piletimüügitulu vahel. Selle tulemusena kajastub Kontserni bilansis 31.08.2009 seisuga kliendilojaalsuse programmiga seotud ettemakstud tulu 13,4 miljonit eurot (210 miljonit krooni). Eelmise majandusaasta lõpu bilanssi seisuga 31.08.2008 kajastati ettemakstud tulu 13,1 miljonit eurot (205 miljonit krooni). 2007/2008 majandusaasta müügikäivet, EBITDA ja puhaskasumit vähendati 0,9 miljoni euro (14 miljoni krooni) võrra. KONSOLIDEERITUD KASUMIARUANNE -------------------------------------------------------------------------------- | (auditeerimata, | 01.06.200 | 01.06.2008 | 01.09.2008 | 01.09.2007 | | | 9- | - | - | - | -------------------------------------------------------------------------------- | tuhandetes kroonides) | 31.08.200 | 31.08.2008 | 31.08.2009 | 31.08.2008 | | | 9 | [1] | | [1] | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 3,987,594 | 3,696,764 | 12,389,960 | 12,295,967 | -------------------------------------------------------------------------------- | Müüdud kauba ja teenuse | -2,731,10 | -2,891,498 | -9,812,048 | -9,729,085 | | kulu | 6 | | | | -------------------------------------------------------------------------------- | Brutokasum | 1,256,488 | 805,266 | 2,577,912 | 2,566,882 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | -179,837 | -262,075 | -803,090 | -850,988 | -------------------------------------------------------------------------------- | Üldhalduskulud | -221,985 | -196,004 | -774,599 | -889,377 | -------------------------------------------------------------------------------- | Muud äritulud | 1,452 | 161,768 | 5,579 | 199,467 | -------------------------------------------------------------------------------- | Muud ärikulud | -3,927 | -17,327 | -8,513 | -18,352 | -------------------------------------------------------------------------------- | Finantstulud | -45,470 | 94,890 | 74,131 | 143,124 | -------------------------------------------------------------------------------- | Finantskulu | -311,836 | -226,328 | -1,201,141 | -933,332 | -------------------------------------------------------------------------------- | Kahjum sidusettevõtetest | -8,342 | -3,060 | -7,560 | -3,060 | | kapitaliosaluse meetodi | | | | | | alusel | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/-kahjum enne | 486,543 | 357,130 | -137,281 | 214,364 | | tulumaksu | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tulumaks | 9,368 | 89,736 | 9,368 | 89,564 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aruandeperioodi | 495,911 | 446,866 | -127,913 | 303,928 | | puhaskasum/-kahjum | | | | | -------------------------------------------------------------------------------- | Sh. | | | | | -------------------------------------------------------------------------------- | | Emaettevõtte omanike | 495,911 | 446,866 | -127,913 | 303,928 | | | osa | | | | | | | puhaskasumist/-kahjum | | | | | | | ist | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum aktsia kohta | | | | | | (EEK-ides ühe aktsia | | | | | | kohta) | | | | | -------------------------------------------------------------------------------- | | - tava | 0.74 | 0.67 | -0.19 | 0.45 | -------------------------------------------------------------------------------- | | - lahustatud | 0.74 | 0.67 | -0.19 | 0.45 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | (auditeerimata, | 01.06.2009- | 01.06.200 | 01.09.200 | 01.09.200 | | | | 8- | 8- | 7- | -------------------------------------------------------------------------------- | tuhandetes eurodes) | 31.08.2009 | 31.08.200 | 31.08.200 | 31.08.200 | | | | 8 [1] | 9 | 8 [1] | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 254,854 | 236,266 | 791,863 | 785,855 | -------------------------------------------------------------------------------- | Müüdud kauba ja teenuse | -174,549 | -184,801 | -627,104 | -621,802 | | kulu | | | | | -------------------------------------------------------------------------------- | Brutokasum | 80,305 | 51,465 | 164,759 | 164,053 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | -11,494 | -16,750 | -51,327 | -54,388 | -------------------------------------------------------------------------------- | Üldhalduskulud | -14,188 | -12,526 | -49,506 | -56,841 | -------------------------------------------------------------------------------- | Muud äritulud | 93 | 10,339 | 356 | 12,748 | -------------------------------------------------------------------------------- | Muud ärikulud | -251 | -1,108 | -544 | -1,173 | -------------------------------------------------------------------------------- | Finantstulud | -2,906 | 6,064 | 4,738 | 9,147 | -------------------------------------------------------------------------------- | Finantskulud | -19,930 | -14,464 | -76,767 | -59,650 | -------------------------------------------------------------------------------- | Kahjum sidusettevõtetest | -533 | -196 | -483 | -196 | | kapitaliosaluse meetodi | | | | | | alusel | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/-kahjum enne | 31,096 | 22,824 | -8,774 | 13,700 | | tulumaksu | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Tulumaks | 599 | 5,735 | 599 | 5,724 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aruandeperioodi | 31,695 | 28,559 | -8,175 | 19,424 | | puhaskasum/-kahjum | | | | | -------------------------------------------------------------------------------- | Sh. | | | | | -------------------------------------------------------------------------------- | | Emaettevõtte omanike | 31,695 | 28,559 | -8,175 | 19,424 | | | osa | | | | | | | puhaskasumist/-kahjumi | | | | | | | st | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum aktsia kohta | | | | | | (EUR-ides ühe aktsia | | | | | | kohta) | | | | | -------------------------------------------------------------------------------- | | - tava | 0.05 | 0.04 | -0.01 | 0.03 | -------------------------------------------------------------------------------- | | - lahustatud | 0.05 | 0.04 | -0.01 | 0.03 | -------------------------------------------------------------------------------- KONSOLIDEERITUD BILANSS (auditeerimata, tuhandetes kroonides) -------------------------------------------------------------------------------- | VARAD | 31.08.2009 | 31.08.2008 [1] | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Käibevara | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 782,043 | 1,043,785 | -------------------------------------------------------------------------------- | Nõuded | 797,762 | 1,177,342 | -------------------------------------------------------------------------------- | Ettemaksed | 179,892 | 111,522 | -------------------------------------------------------------------------------- | Derivatiivid | 75,698 | 51,884 | -------------------------------------------------------------------------------- | Varud | 297,527 | 358,480 | -------------------------------------------------------------------------------- | Käibevara kokku | 2,132,922 | 2,743,013 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Põhivara | | | -------------------------------------------------------------------------------- | Investeeringud sidusettevõtetesse | 0 | 2,222 | -------------------------------------------------------------------------------- | Muud finantsvarad ja ettemaksed | 7,664 | 7,700 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksuvara | 193,968 | 199,851 | -------------------------------------------------------------------------------- | Kinnisvarainvesteering | 4,694 | 4,694 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 27,049,393 | 25,518,298 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 1,134,738 | 1,226,023 | -------------------------------------------------------------------------------- | Põhivara kokku | 28,390,457 | 26,958,788 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | VARAD KOKKU | 30,523,379 | 29,701,801 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 2,586,555 | 2,200,220 | -------------------------------------------------------------------------------- | Võlad | 1,415,763 | 1,621,711 | -------------------------------------------------------------------------------- | Ettemakstud tulud | 331,323 | 343,837 | -------------------------------------------------------------------------------- | Derivatiivid | 235,559 | 5,351 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 4,569,200 | 4,171,119 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 15,896,832 | 15,324,355 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksukohustus | 0 | 16,147 | -------------------------------------------------------------------------------- | Muud kohustused | 1,330 | 1,643 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 15,898,162 | 15,342,145 | -------------------------------------------------------------------------------- | Kohustused kokku | 20,467,362 | 19,513,264 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OMAKAPITAL | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv | | | | omakapital | | | -------------------------------------------------------------------------------- | Aktsiakapital nimiväärtuses | 6,738,170 | 6,738,170 | -------------------------------------------------------------------------------- | Ülekurss | 9,999 | 9,999 | -------------------------------------------------------------------------------- | Reservid | 1,124,409 | 1,151,071 | -------------------------------------------------------------------------------- | Jaotamata kasum | 2,183,439 | 2,289,297 | -------------------------------------------------------------------------------- | Emaettevõtte omanikele kuuluv omakapital | 10,056,017 | 10,188,537 | | kokku | | | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 10,056,017 | 10,188,537 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 30,523,379 | 29,701,801 | -------------------------------------------------------------------------------- KONSOLIDEERITUD BILANSS (auditeerimata, tuhandetes eurodes) -------------------------------------------------------------------------------- | VARAD | 31.08.2009 | 31.08.2008 [1] | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Käibevara | | | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | 49,982 | 66,710 | -------------------------------------------------------------------------------- | Nõuded | 50,986 | 75,246 | -------------------------------------------------------------------------------- | Ettemaksed | 11,497 | 7,127 | -------------------------------------------------------------------------------- | Derivatiivid | 4,838 | 3,316 | -------------------------------------------------------------------------------- | Varud | 19,015 | 22,911 | -------------------------------------------------------------------------------- | Käibevara kokku | 136,318 | 175,310 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Põhivara | | | -------------------------------------------------------------------------------- | Investeeringud sidusettevõtetesse | 0 | 142 | -------------------------------------------------------------------------------- | Muud finantsvarad ja ettemaksed | 490 | 492 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksuvara | 12,397 | 12,773 | -------------------------------------------------------------------------------- | Kinnisvarainvesteering | 300 | 300 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 1,728,771 | 1,630,917 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 72,523 | 78,357 | -------------------------------------------------------------------------------- | Põhivara kokku | 1,814,481 | 1,722,981 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | VARAD KOKKU | 1,950,799 | 1,898,291 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 165,311 | 140,620 | -------------------------------------------------------------------------------- | Võlad | 90,484 | 103,646 | -------------------------------------------------------------------------------- | Ettemakstud tulud | 21,175 | 21,975 | -------------------------------------------------------------------------------- | Derivatiivid | 15,055 | 342 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 292,025 | 266,583 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | -------------------------------------------------------------------------------- | Intressikandvad võlakohustused | 1,015,993 | 979,405 | -------------------------------------------------------------------------------- | Edasilükkunud tulumaksukohustus | 0 | 1,032 | -------------------------------------------------------------------------------- | Muud kohustused | 85 | 105 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 1,016,078 | 980,542 | -------------------------------------------------------------------------------- | Kohustused kokku | 1,308,103 | 1,247,125 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OMAKAPITAL | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele kuuluv | | | | omakapital | | | -------------------------------------------------------------------------------- | Aktsiakapital nimiväärtuses | 430,648 | 430,648 | -------------------------------------------------------------------------------- | Ülekurss | 639 | 639 | -------------------------------------------------------------------------------- | Reservid | 71,862 | 73,566 | -------------------------------------------------------------------------------- | Jaotamata kasum | 139,547 | 146,313 | -------------------------------------------------------------------------------- | Emaettevõtte omanikele kuuluv omakapital | 642,696 | 651,166 | | kokku | | | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 642,696 | 651,166 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 1,950,799 | 1,898,291 | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes kroonides) | 01.09.2008 - | 01.09.2007 - | -------------------------------------------------------------------------------- | | | 31.08.2009 | 31.08.2008 [1] | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi puhaskasum/-kahjum | -127,913 | 303,928 | -------------------------------------------------------------------------------- | Korrigeerimised | 2,190,984 | 1,661,987 | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete muutus | 305,233 | -339,402 | -------------------------------------------------------------------------------- | Äritegevusega seotud varude muutus | 60,953 | -85,110 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste muutus | -149,507 | 172,427 | -------------------------------------------------------------------------------- | Makstud tulumaks | -493 | -1,800 | -------------------------------------------------------------------------------- | | 2,279,257 | 1,712,030 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse põhivara ja immateriaalse vara | -2,549,838 | -4,240,289 | | soetamine | | | -------------------------------------------------------------------------------- | Laekumised materiaalse põhivara müügist | 16,895 | 453,242 | -------------------------------------------------------------------------------- | Tütarettevõtte soetamine | 0 | 1,885 | -------------------------------------------------------------------------------- | Sidusettevõtte soetamine | -6,120 | -2,040 | -------------------------------------------------------------------------------- | Laekumised sidusettevõtetest | 782 | 0 | -------------------------------------------------------------------------------- | Laekumised/-maksed derivatiividest | -62,514 | 45,879 | -------------------------------------------------------------------------------- | Saadud intressid | 5,804 | 11,511 | -------------------------------------------------------------------------------- | | -2,594,991 | -3,729,812 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Omaaktsiate tagasiostmine | 0 | -65,132 | -------------------------------------------------------------------------------- | Laekumised laenudest | 2,427,151 | 3,756,212 | -------------------------------------------------------------------------------- | Laenude tagasimaksed | -1,699,493 | -1,518,433 | -------------------------------------------------------------------------------- | Kasutatud arvelduskrediidi muutus | 204,199 | 443,199 | -------------------------------------------------------------------------------- | Kapitalirendi põhimaksete tasumine | -6,619 | -14,855 | -------------------------------------------------------------------------------- | Makstud intressid | -871,246 | -843,033 | -------------------------------------------------------------------------------- | | 53,992 | 1,757,958 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RAHAVOOD KOKKU | -261,742 | -259,824 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | | -------------------------------------------------------------------------------- | - perioodi alguses | 1,043,785 | 1,303,609 | -------------------------------------------------------------------------------- | - suurenemine (+) / vähenemine (-) | -261,742 | -259,824 | -------------------------------------------------------------------------------- | - perioodi lõpus | 782,043 | 1,043,785 | -------------------------------------------------------------------------------- KONSOLIDEERITUD RAHAVOOGUDE ARUANNE -------------------------------------------------------------------------------- | (auditeerimata, tuhandetes eurodes) | 01.09.2008 - | 01.09.2007 - | -------------------------------------------------------------------------------- | | | 31.08.2009 | 31.08.2008 [1] | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi puhaskasum/-kahjum | -8,175 | 19,424 | -------------------------------------------------------------------------------- | Korrigeerimised | 140,029 | 106,221 | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete muutus | 19,508 | -21,692 | -------------------------------------------------------------------------------- | Varude muutus | 3,896 | -5,439 | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste muutus | -9,555 | 11,020 | -------------------------------------------------------------------------------- | Makstud tulumaks | -32 | -115 | -------------------------------------------------------------------------------- | | 145,671 | 109,419 | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Materiaalse põhivara ja immateriaalse vara | -162,964 | -271,004 | | soetamine | | | -------------------------------------------------------------------------------- | Laekumised materiaalse põhivara müügist | 1,080 | 28,967 | -------------------------------------------------------------------------------- | Tütarettevõtte soetamine | 0 | 120 | -------------------------------------------------------------------------------- | Sidusettevõtte soetamine | -391 | -130 | -------------------------------------------------------------------------------- | Laekumised sidusettevõtetest | 50 | 0 | -------------------------------------------------------------------------------- | Laekumised/-maksed derivatiividest | -3,995 | 2,933 | -------------------------------------------------------------------------------- | Saadud intressid | 371 | 736 | -------------------------------------------------------------------------------- | | -165,849 | -238,378 | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Omaaktsiate tagasiostmine | 0 | -4,163 | -------------------------------------------------------------------------------- | Laekumised laenudest | 155,123 | 240,066 | -------------------------------------------------------------------------------- | Laenude tagasimaksed | -108,618 | -97,045 | -------------------------------------------------------------------------------- | Kasutatud arvelduskrediidi muutus | 13,051 | 28,325 | -------------------------------------------------------------------------------- | Kapitalirendi põhimaksete tasumine | -423 | -949 | -------------------------------------------------------------------------------- | Makstud intressid | -55,683 | -53,880 | -------------------------------------------------------------------------------- | | 3,450 | 112,354 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RAHAVOOD KOKKU | -16,728 | -16,605 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid | | | -------------------------------------------------------------------------------- | - perioodi alguses | 66,710 | 83,315 | -------------------------------------------------------------------------------- | - suurenemine (+) / vähenemine (-) | -16,728 | -16,605 | -------------------------------------------------------------------------------- | - perioodi lõpus | 49,982 | 66,710 | -------------------------------------------------------------------------------- [1] korrigeeritud Janek Stalmeister Juhatuse liige AS Tallink Grupp Tel. +372 6409 800 e-mail: janek.stalmeister@tallink.ee
Pealkiri
12 months unaudited results of the 2008/2009 financial year
Teade
The Group (AS Tallink Grupp and its subsidiaries) unaudited revenues in the 12 months of the 2008/2009 financial year were EUR 792 million (EEK 12 390 million) which is 0.8% increase compared to the 12 months in the previous financial year. Passengers related revenues increased more than EUR 51 million (EEK 806 million) largely as an effect of the 15% increase in passenger volumes compared to the 12 months period in the previous financial year. Throughout the 2008/2009 financial year the cargo volumes decreased year-on-year basis which impact resulted EUR 52 million (EEK 815 million) decrease in cargo revenues. In the 4th quarter (June-August) of the 2008/2009 financial year the Group revenues increased by EUR 18.6 million (EEK 291 million) or 8% compared to the 4th quarter of the previous financial year. The growth was resulted from the increased passenger operations which are at significantly higher volumes in the 4th quarter high season and hence the drop in the cargo revenues was not dominating. The Group was able to stabilize the decrease in ticket revenues per passenger in 4th quarter whereas compared to the 2nd and 3rd quarters the aggressive discount campaigns were not necessary in the high season. In the fourth quarter the average passenger spending improved and slightly exceeded the levels of the fourth quarter in the previous financial year. However, given the first nine months slowdown in passenger spending, weaker SEK/EUR exchange rate, and lower overall average pricing the total 12 months ticket and onboard spending shows EUR 5.3 (EEK 83) decrease per passenger. EBITDA of 2008/2009 financial year was EUR 133.1 million (EEK 2083 million) being 6% higher than in the 2007/2008 financial year. In the fourth quarter of 2008/2009 financial year the Group's EBITDA reached EUR 76.6 million (EEK 1152 million) which is 51% or EUR 24.9 million (EEK 389 million) year-on-year increase. The 4th quarter EBITDA margin increased to 29% from 21% year ago. The positive impact to the EBITDA improvement in the fourth quarter resulted largely from the lower fuel price and thereby EUR 18 million (EEK 282 million) decreased fuel costs, but also from the different cost savings which the Group initiated during the past 12 months. In the fourth quarter of 2008/2009 financial year, the net profit reached EUR 31.7 million (EEK 496 million) which is 11% better than a year ago. The unaudited net loss for the 12 months of 2008/2009 financial year was EUR 8.2 million (EEK 127.9 million). The Group's earnings reflect one time provisions and write offs in total of EUR 3.4 million (EEK 53 million) recorded under cost of sales, administrative and general expenses and EUR 14.6 million (EEK 228 million) expenses resulting from interest rate derivatives mark to market revaluation, recorded under financial items in the fourth quarter. The Group's fourth quarter development assured that the fundamentals of the Group business model are strong. Considering the overall weak macroeconomic situation the Group was still able to outperform its historical numbers in many areas. However, the management is not pleased with the Group's 12 months total result in the 2008/2009 financial year. Despite that there have been improvements in some areas, the surrounding weak macroeconomic environment continues add uncertainties to Group's operations. The focus is being kept on cost cuttings in the Group operations. The sales or charters of older vessels have high priority. The Group's target is to be in the pofit in the 2009/2010 financial year. 12 MONTHS KEY FIGURES -------------------------------------------------------------------------------- | | 01.09.2008- | 01.09.2007- | Change | | | 31.08.2009 | 31.08.2009 | | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Net sales (million) | 12 389 | 791.9 | 12 296 | 785.9 | 0.8% | -------------------------------------------------------------------------------- | Gross profit (million) | 2 578 | 164.8 | 2 567 | 164.1 | 0.4% | -------------------------------------------------------------------------------- | Gross margin | 20.8% | | 20.9% | | | -------------------------------------------------------------------------------- | EBITDA (million) | 2 083 | 133.1 | 1 969 | 125.8 | 5.8% | -------------------------------------------------------------------------------- | EBITDA margin | 16.8% | | 16% | | | -------------------------------------------------------------------------------- | Net profit/-loss | -128 | -8.2 | 304 | 19.2 | -142.7% | | (million) | | | | | | -------------------------------------------------------------------------------- | Net profit margin | -1% | | 2.5% | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Depreciation & amort. | 1 094 | 69.9 | 964 | 61.6 | 13.5% | | (million) | | | | | | -------------------------------------------------------------------------------- | Investments (million) | 2 540 | 163.0 | 4 240 | 271.0 | -39.9% | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Weighted average | 669 882 040 | 671 245 086 | -0.2% | | number of ordinary | | | | | shares outstanding | | | | | during 12 months* | | | | -------------------------------------------------------------------------------- | Earnings per share | -0.19 | -0.01 | 0.45 | 0.03 | -142% | -------------------------------------------------------------------------------- | | | | | -------------------------------------------------------------------------------- | Number of passengers | 8 124 561 | 7 070 264 | 14.9% | -------------------------------------------------------------------------------- | Cargo units | 252 026 | 331 149 | -23.9% | -------------------------------------------------------------------------------- | Average number of | 6 853 | 6 564 | 4.4% | | employees | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 31.08.2009 | 31.08.2008 | | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | | -------------------------------------------------------------------------------- | Total assets (million) | 30 523 | 1 951 | 29 702 | 1 898 | | -------------------------------------------------------------------------------- | Total liabilities | 20 467 | 1 308 | 19 513 | 1 247 | | | (million) | | | | | | -------------------------------------------------------------------------------- | Interest-bearing | 18 483 | 1 181 | 17 525 | 1 120 | | | liabilities (million) | | | | | | -------------------------------------------------------------------------------- | Total equity (million) | 10 056 | 643 | 10 188 | 651 | | -------------------------------------------------------------------------------- | Equity ratio | 33% | | 34% | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Number of ordinary | 669 882 040 | 669 882 040 | | | shares outstanding* | | | | -------------------------------------------------------------------------------- | Shareholders' equity | 15 | 0.96 | 15.2 | 0.97 | -1.3% | | per share | | | | | | -------------------------------------------------------------------------------- Net profit margin - net profit / net sales; EBITDA - Earnings before net financial items, share of profit of associates, taxes, depreciation and amortization; EBITDA margin - EBITDA / net sales; Gross margin - gross profit / net sales Equity ratio - total equity / total assets; Earnings per share - net profit / weighted average number of shares outstanding; Shareholder's equity per share - shareholder's equity / number of shares outstanding. * Share numbers exclude own shares. SEK exchange rate against Euro has been highly volatile during the 12 months of the 2008/2009 financial year, being at the lowest point nearly 25% weaker compared to the previous financial year. The estimated negative impact to the Group sales from weak SEK/EUR exchange rate was nearly EUR 20 million (EEK 313 million) during the 12 months period. The Group's administrative, general and marketing expenses, excluding the year end provisions and write offs decreased by EUR 10.4 million (EEK 163 million) during the 12 months which is 10% lower from the same period in the previous financial year. The depreciation and amortisation of the Group assets in the 12 months period increased by EUR 8.3 million (EEK 90.8 million) mainly due to three new vessels MS Superstar, MS Baltic Princess and MS Baltic Queen. The net financial costs increased by EUR 21.5 million (EEK 336.8 million) during the 12 months of the 2008/2009 financial year. Interest expenses decreased by EUR 6 million (EEK 93.7 million) whereas the expenses from derivative transactions - interest rate swaps and fuel swaps, increased by EUR 22.5 million (EEK 352 million). The net expenses from derivative transactions include the mark to market revaluation in amount of EUR 14.6 million (EEK 228 million). The respective cash flows from all interest and fuel derivatives during the 12 months of 2008/2009 financial year were negative by EUR 4 million (EEK 62 million). The Group made changes in it's accounting according to IFRIC 13. The Group adopted IFRIC 13 “Customer Loyalty Programmes” during financial year and comparative figures have also been provided [1]. For customer loyalty programme, the fair value of the consideration received or receivable in respect of the initial sale is allocated between award credits (Club One points) and ticket sale. As a result the Group has deferred income EUR 13.4 million (EEK 210 million) at 31 August 2009. In the 2007/2008 financial year balance sheet EUR 13.1 million (EEK 205 million) deferred income was recorded. The revenues, EBITDA and net profit of the previous 2007/2008 financial year were lowered by EUR 0.9 million (EEK 14 million). CONSOLIDATED CONDENSED INCOME STATEMENT -------------------------------------------------------------------------------- | (unaudited, in | 01.06.2009 | 01.06.2008- | 01.09.2008 | 01.09.2007- | | thousands of EEK) | - | | - | | -------------------------------------------------------------------------------- | | 31.08.2009 | 31.08.2008[1]| 31.08.2009 | 31.08.2008[1] -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net sales | 3,987,594 | 3,696,764 | 12,389,960 | 12,295,967 | -------------------------------------------------------------------------------- | Cost of sales | -2,731,106 | -2,891,498 | -9,812,048 | -9,729,085 | -------------------------------------------------------------------------------- | Gross profit | 1,256,488 | 805,266 | 2,577,912 | 2,566,882 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | -179,837 | -262,075 | -803,090 | -850,988 | -------------------------------------------------------------------------------- | Administrative and | -221,985 | -196,004 | -774,599 | -889,377 | | general expenses | | | | | -------------------------------------------------------------------------------- | Other income | 1,452 | 161,768 | 5,579 | 199,467 | -------------------------------------------------------------------------------- | Other expenses | -3,927 | -17,327 | -8,513 | -18,352 | -------------------------------------------------------------------------------- | Financial income | -45,470 | 94,890 | 74,131 | 143,124 | -------------------------------------------------------------------------------- | Financial expenses | -311,836 | -226,328 | -1,201,141 | -933,332 | -------------------------------------------------------------------------------- | Loss of associates | -8,342 | -3,060 | -7,560 | -3,060 | | from equity accounted | | | | | | associates | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit/-loss from | 486,543 | 357,130 | -137,281 | 214,364 | | normal operation | | | | | | before income tax | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Income tax | 9,368 | 89,736 | 9,368 | 89,564 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit/-loss for | 495,911 | 446,866 | -127,913 | 303,928 | | the period | | | | | -------------------------------------------------------------------------------- | Attributable to: | | | | | -------------------------------------------------------------------------------- | | Equity holders of | 495,911 | 446,866 | -127,913 | 303,928 | | | the parent | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share | | | | | | (in EEK per share) | | | | | -------------------------------------------------------------------------------- | | - basic | 0.74 | 0.67 | -0.19 | 0.45 | -------------------------------------------------------------------------------- | | - diluted | 0.74 | 0.67 | -0.19 | 0.45 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | (unaudited, in | 01.06.2009 | 01.06.2008- | 01.09.2008- | 01.09.200 | | thousands of EUR) | - | | | 7- | -------------------------------------------------------------------------------- | | 31.08.2009 | 31.08.2008 | 31.08.2009 | 31.08.200 | | | | [1] | | 8 [1] | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net sales | 254,854 | 236,266 | 791,863 | 785,855 | -------------------------------------------------------------------------------- | Cost of sales | -174,549 | -184,801 | -627,104 | -621,802 | -------------------------------------------------------------------------------- | Gross profit | 80,305 | 51,465 | 164,759 | 164,053 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | -11,494 | -16,750 | -51,327 | -54,388 | -------------------------------------------------------------------------------- | Administrative and | -14,188 | -12,526 | -49,506 | -56,841 | | general expenses | | | | | -------------------------------------------------------------------------------- | Other income | 93 | 10,339 | 356 | 12,748 | -------------------------------------------------------------------------------- | Other expenses | -251 | -1,108 | -544 | -1,173 | -------------------------------------------------------------------------------- | Financial income | -2,906 | 6,064 | 4,738 | 9,147 | -------------------------------------------------------------------------------- | Financial expenses | -19,930 | -14,464 | -76,767 | -59,650 | -------------------------------------------------------------------------------- | Profit/-loss of | -533 | -196 | -483 | -196 | | associates from equity | | | | | | accounted associates | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit/-loss from | 31,096 | 22,824 | -8,774 | 13,700 | | normal operation before | | | | | | income tax | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Income tax | 599 | 5,735 | 599 | 5,724 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit/-loss for | 31,695 | 28,559 | -8,175 | 19,424 | | the period | | | | | -------------------------------------------------------------------------------- | Attributable to: | | | | | -------------------------------------------------------------------------------- | | Equity holders of | 31,695 | 28,559 | -8,175 | 19,424 | | | the parent | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share (in | | | | | | EUR per share) | | | | | -------------------------------------------------------------------------------- | | - basic | 0.05 | 0.04 | -0.01 | 0.03 | -------------------------------------------------------------------------------- | | - diluted | 0.05 | 0.04 | -0.01 | 0.03 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED BALANCE SHEET (unaudited, in thousands of EEK) -------------------------------------------------------------------------------- | ASSETS | 31.08.2009 | 31.08.2008 [1] | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current assets | | | -------------------------------------------------------------------------------- | Cash and cash equivalents | 782,043 | 1,043,785 | -------------------------------------------------------------------------------- | Receivables | 797,762 | 1,177,342 | -------------------------------------------------------------------------------- | Prepayments | 179,892 | 111,522 | -------------------------------------------------------------------------------- | Derivatives | 75,698 | 51,884 | -------------------------------------------------------------------------------- | Inventories | 297,527 | 358,480 | -------------------------------------------------------------------------------- | Total current assets | 2,132,922 | 2,743,013 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current assets | | | -------------------------------------------------------------------------------- | Investments in associates | 0 | 2,222 | -------------------------------------------------------------------------------- | Other financial assets and prepayments | 7,664 | 7,700 | -------------------------------------------------------------------------------- | Deferred income tax assets | 193,968 | 199,851 | -------------------------------------------------------------------------------- | Investment property | 4,694 | 4,694 | -------------------------------------------------------------------------------- | Property, plant and equipment | 27,049,393 | 25,518,298 | -------------------------------------------------------------------------------- | Intangible assets | 1,134,738 | 1,226,023 | -------------------------------------------------------------------------------- | Total non-current assets | 28,390,457 | 26,958,788 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 30,523,379 | 29,701,801 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | LIABILITIES AND EQUITY | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current liabilities | | | -------------------------------------------------------------------------------- | Current portion of interest-bearing | 2,586,555 | 2,200,220 | | liabilities | | | -------------------------------------------------------------------------------- | Payables | 1,415,763 | 1,621,711 | -------------------------------------------------------------------------------- | Deferred income | 331,323 | 343,837 | -------------------------------------------------------------------------------- | Derivatives | 235,559 | 5,351 | -------------------------------------------------------------------------------- | Total current liabilities | 4,569,200 | 4,171,119 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current liabilities | | | -------------------------------------------------------------------------------- | Interest bearing loans and borrowings | 15,896,832 | 15,324,355 | -------------------------------------------------------------------------------- | Deferred income tax liability | 0 | 16,147 | -------------------------------------------------------------------------------- | Other liabilities | 1,330 | 1,643 | -------------------------------------------------------------------------------- | Total non-current liabilities | 15,898,162 | 15,342,145 | -------------------------------------------------------------------------------- | TOTAL LIABILITIES | 20,467,362 | 19,513,264 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EQUITY | | | -------------------------------------------------------------------------------- | Equity attributable to equity holders of | | | | the parent | | | -------------------------------------------------------------------------------- | Share capital | 6,738,170 | 6,738,170 | -------------------------------------------------------------------------------- | Share premium | 9,999 | 9,999 | -------------------------------------------------------------------------------- | Reserves | 1,124,409 | 1,151,071 | -------------------------------------------------------------------------------- | Retained earnings | 2,183,439 | 2,289,297 | -------------------------------------------------------------------------------- | Total equity attributable to equity holders | 10,056,017 | 10,188,537 | | of the parent | | | -------------------------------------------------------------------------------- | TOTAL EQUITY | 10,056,017 | 10,188,537 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES AND EQUITY | 30,523,379 | 29,701,801 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED BALANCE SHEET (unaudited, in thousands of EUR) -------------------------------------------------------------------------------- | ASSETS | 31.08.2009 | 31.08.2008 [1] | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current assets | | | -------------------------------------------------------------------------------- | Cash and cash equivalents | 49,982 | 66,710 | -------------------------------------------------------------------------------- | Receivables | 50,986 | 75,246 | -------------------------------------------------------------------------------- | Prepayments | 11,497 | 7,127 | -------------------------------------------------------------------------------- | Derivatives | 4,838 | 3,316 | -------------------------------------------------------------------------------- | Inventories | 19,015 | 22,911 | -------------------------------------------------------------------------------- | Total current assets | 136,318 | 175,310 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current assets | | | -------------------------------------------------------------------------------- | Investments in associates | 0 | 142 | -------------------------------------------------------------------------------- | Other financial assets and prepayments | 490 | 492 | -------------------------------------------------------------------------------- | Deferred income tax assets | 12,397 | 12,773 | -------------------------------------------------------------------------------- | Investment property | 300 | 300 | -------------------------------------------------------------------------------- | Property, plant and equipment | 1,728,771 | 1,630,917 | -------------------------------------------------------------------------------- | Intangible assets | 72,523 | 78,357 | -------------------------------------------------------------------------------- | Total non-current assets | 1,814,481 | 1,722,981 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 1,950,799 | 1,898,291 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | LIABILITIES AND EQUITY | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Current liabilities | | | -------------------------------------------------------------------------------- | Current portion of interest-bearing | 165,311 | 140,620 | | liabilities | | | -------------------------------------------------------------------------------- | Payables | 90,484 | 103,646 | -------------------------------------------------------------------------------- | Deferred income | 21,175 | 21,975 | -------------------------------------------------------------------------------- | Derivatives | 15,055 | 342 | -------------------------------------------------------------------------------- | Total current liabilities | 292,025 | 266,583 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current liabilities | | | -------------------------------------------------------------------------------- | Interest bearing loans and borrowings | 1,015,993 | 979,405 | -------------------------------------------------------------------------------- | Deferred income tax | 0 | 1,032 | -------------------------------------------------------------------------------- | Other liabilities | 85 | 105 | -------------------------------------------------------------------------------- | Total non-current liabilities | 1,016,078 | 980,542 | -------------------------------------------------------------------------------- | TOTAL LIABILITIES | 1,308,103 | 1,247,125 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EQUITY | | | -------------------------------------------------------------------------------- | Equity attributable to equity holders of | | | | the parent | | | -------------------------------------------------------------------------------- | Share capital | 430,648 | 430,648 | -------------------------------------------------------------------------------- | Share premium | 639 | 639 | -------------------------------------------------------------------------------- | Reserves | 71,862 | 73,566 | -------------------------------------------------------------------------------- | Retained earnings | 139,547 | 146,313 | -------------------------------------------------------------------------------- | Total equity attributable to equity holders | 642,696 | 651,166 | | of the parent | | | -------------------------------------------------------------------------------- | TOTAL EQUITY | 642,696 | 651,166 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES AND EQUITY | 1,950,799 | 1,898,291 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED CASH FLOW STATEMENT -------------------------------------------------------------------------------- |(unaudited, in thousands of EEK) | 01.09.2008 | 01.09.2007 - | | | - | | -------------------------------------------------------------------------------- | | | 31.08.2009 | 31.08.2008 [1] | -------------------------------------------------------------------------------- | Cash flows from operating activities | | | -------------------------------------------------------------------------------- | Net profit/-loss for the period | -127,913 | 303,928 | -------------------------------------------------------------------------------- | Adjustments | 2,190,984 | 1,661,987 | -------------------------------------------------------------------------------- | Changes in assets related to operating | 305,233 | -339,402 | | activities | | | -------------------------------------------------------------------------------- | Changes in inventories | 60,953 | -85,110 | -------------------------------------------------------------------------------- | Changes in liabilities related to operating | -149,507 | 172,427 | | activities | | | -------------------------------------------------------------------------------- | Income tax paid | -493 | -1,800 | -------------------------------------------------------------------------------- | | 2,279,257 | 1,712,030 | -------------------------------------------------------------------------------- | Cash flow used for investing activities | | | -------------------------------------------------------------------------------- | Purchase of property, plant, equipment and | -2,549,838 | -4,240,289 | | intangible assets | | | -------------------------------------------------------------------------------- | Proceeds from disposals of property, plant, | 16,895 | 453,242 | | equipment | | | -------------------------------------------------------------------------------- | Acquisition of subsidiary | 0 | 1,885 | -------------------------------------------------------------------------------- | Acquisition of associate | -6,120 | -2,040 | -------------------------------------------------------------------------------- | Proceeds from associates | 782 | 0 | -------------------------------------------------------------------------------- | Proceeds/-payments from settlement of | -62,514 | 45,879 | | derivatives | | | -------------------------------------------------------------------------------- | Interest received | 5,804 | 11,511 | -------------------------------------------------------------------------------- | | -2,594,991 | -3,729,812 | -------------------------------------------------------------------------------- | Cash flow from (+)/ used for (-) financing | | | | activities | | | -------------------------------------------------------------------------------- | Repurchase of own shares | 0 | -65,132 | -------------------------------------------------------------------------------- | Proceeds from loans | 2,427,151 | 3,756,212 | -------------------------------------------------------------------------------- | Redemption of loans | -1,699,493 | -1,518,433 | -------------------------------------------------------------------------------- | Change in overdraft | 204,199 | 443,199 | -------------------------------------------------------------------------------- | Repayment of finance lease liabilities | -6,619 | -14,855 | -------------------------------------------------------------------------------- | Interest paid | -871,246 | -843,033 | -------------------------------------------------------------------------------- | | 53,992 | 1,757,958 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL NET CASH FLOW | -261,742 | -259,824 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash and cash equivalents: | | | -------------------------------------------------------------------------------- | - at the beginning of period | 1,043,785 | 1,303,609 | -------------------------------------------------------------------------------- | - increase (+) / decrease (-) | -261,742 | -259,824 | -------------------------------------------------------------------------------- | Cash and cash equivalents at end of period | 782,043 | 1,043,785 | -------------------------------------------------------------------------------- CONSOLIDATED CONDENSED CASH FLOW STATEMENT -------------------------------------------------------------------------------- | (unaudited, in thousands of EUR) | 01.09.2008 | 01.09.2007 - | | | - | | -------------------------------------------------------------------------------- | | | 31.08.2009 | 31.08.2008 [1] | -------------------------------------------------------------------------------- | Cash flows from operating activities | | | -------------------------------------------------------------------------------- | Net profit/-loss for the period | -8,175 | 19,424 | -------------------------------------------------------------------------------- | Adjustments | 140,029 | 106,221 | -------------------------------------------------------------------------------- | Changes in assets related to operating | 19,508 | -21,692 | | activities | | | -------------------------------------------------------------------------------- | Changes in inventories | 3,896 | -5,439 | -------------------------------------------------------------------------------- | Changes in liabilities related to operating | -9,555 | 11,020 | | activities | | | -------------------------------------------------------------------------------- | Income tax paid | -32 | -115 | -------------------------------------------------------------------------------- | | 145,671 | 109,419 | -------------------------------------------------------------------------------- | Cash flow used for investing activities | | | -------------------------------------------------------------------------------- | Purchase of property, plant, equipment and | -162,964 | -271,004 | | intangible assets | | | -------------------------------------------------------------------------------- | Proceeds from disposals of property, plant, | 1,080 | 28,967 | | equipment | | | -------------------------------------------------------------------------------- | Acquisition of subsidiary | 0 | 120 | -------------------------------------------------------------------------------- | Acquisition of associate | -391 | -130 | -------------------------------------------------------------------------------- | Proceeds from associates | 50 | 0 | -------------------------------------------------------------------------------- | Proceeds/-payments from settlement of | -3,995 | 2,933 | | derivatives | | | -------------------------------------------------------------------------------- | Interest received | 371 | 736 | -------------------------------------------------------------------------------- | | -165,849 | -238,378 | -------------------------------------------------------------------------------- | Cash flow from (+)/ used for (-) financing | | | | activities | | | -------------------------------------------------------------------------------- | Repurchase of own shares | 0 | -4,163 | -------------------------------------------------------------------------------- | Proceeds from loans | 155,123 | 240,066 | -------------------------------------------------------------------------------- | Redemption of loans | -108,618 | -97,045 | -------------------------------------------------------------------------------- | Change in overdraft | 13,051 | 28,325 | -------------------------------------------------------------------------------- | Repayment of finance lease liabilities | -423 | -949 | -------------------------------------------------------------------------------- | Interest paid | -55,683 | -53,880 | -------------------------------------------------------------------------------- | | 3,450 | 112,354 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL NET CASH FLOW | -16,728 | -16,605 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash and cash equivalents: | | | -------------------------------------------------------------------------------- | - at the beginning of period | 66,710 | 83,315 | -------------------------------------------------------------------------------- | - increase (+) / decrease (-) | -16,728 | -16,605 | -------------------------------------------------------------------------------- | Cash and cash equivalents at end of period | 49,982 | 66,710 | -------------------------------------------------------------------------------- [1] Corrected Janek Stalmeister Member of the Management Board, CFO AS Tallink Grupp Tel. +372 6409 800 e-mail: janek.stalmeister@tallink.ee