Börsiteade
AS Tallink Grupp
LEI kood
529900QRMWAKKR3L9W75
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Hulgi- ja jaekaubandus, Veondus ja laondus, Majutus ja toitlustus, Haldus- ja abitegevused
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Poolaastaaruanne
Teate ID
3250
Manused
Esitamise kuupäev ja aeg
11.04.2011 16:05:00
Teate sisu eesti keeles
Pealkiri
2010/2011 majandusaasta I poolaasta majandustulemused
Teade
Tallinn, 2011-04-11 15:05 CEST (GLOBE NEWSWIRE) --
2010/2011 majandusaasta I poolaasta majandustulemused
Majandusaasta teises kvartalis (01.12.2010. - 28.02.2011) jätkus AS-i Tallink
Grupp ja tema tütarettevõtete (edaspidi „Kontsern“) tegevuses positiivne areng.
Kvartali jooksul toimunud Kontserni müügikampaaniad ja erinevad pakkumised
võeti klientide poolt hästi vastu. Kontserni laevadega teenindatud reisijate
arv kasvas ligi 2 miljoni reisijani käesoleva majandusaasta teises kvartalis,
mis on 23% suurem võrreldes eelmise majandusaasta sama perioodiga.
Kaubaveomahud kasvasid 19% samas võrdluses. Tulenevalt tugevast veomahtude
kasvust ning suhteliselt stabiilsest tulust reisija kohta võrreldes
aastatagusega, tõusis Kontserni auditeerimata konsolideeritud müügitulu
2010/2011 majandusaasta teises kvartalis 188,8 miljoni euroni, mis on 30,8
miljoni euro ehk 19% võrra suurem kui eelmise majandusaasta teises kvartalis.
Kuigi kulude suurenemist on märgata tegevuse kõikides valdkondades oli
Kontserni müügitulude kasv siiski suurem kui kulude kasv kokku ning Kontsern
suutis parandada kasumlikkust. Enim avaldas tulemustele mõju kütusekulude
suurenemine teises kvartalis 5,8 miljoni euro ehk 23% võrra eelmise
majandusaasta sama perioodiga võrreldes. Teises kvartalis oli jätkuvalt kõrge
rõhuasetus müügi ja marketingitegevuses, mille tulemusena suurenesid oodatult
ka turustuskulud. Kontserni finantskulude, maksude, intresside, kulumi eelne
kasum (EBITDA) oli 2010/2011 majandusaasta teises kvartalis 18,1 miljonit
eurot, mis on 7.7 miljonit eurot ehk 74% suurem kui eelmise majandusaasta
teises kvartalis. EBITDA marginaal paranes 7 protsendilt 10 protsendini.
Majandusaasta teises kvartalis, mis on Kontserni tegevuses madalhooaeg, oli
Kontserni auditeerimata konsolideeritud puhaskahjum 9,4 miljonit eurot. Eelmise
majandusaasta samal perioodil oli puhaskahjum 16,3 miljonit eurot.
Kontserni kõikides põhilistes segmentides avaldus teises kvartalis positiivne
areng. Mahtude ja käibe kasv oli suurim Eesti-Rootsi ja Läti-Rootsi liinidel.
Sarnaselt möödunud majandusaastale ei toimunud madalhooajal (jaanuar-veebruar)
tegevust kahjumlikul Soome-Saksamaa liinil. Sel perioodil olid liinil
opereerivad laevad hoolduses. Kontsern opereerib Soome-Saksamaa liinil 2011
aastal aprillist kuni augusti keskpaigani. Pärast kõrghooaega prahitakse laevad
Superfast VII ja Superfast VIII Stena Line Ltd.-le vähemalt kolmeks aastaks.
2011 aasta veebruaris toimunud Aktsionäride Üldkoosolekul otsustati muuta
majandusaasta periood kalendriaastaks (1 jaanuar - 31 detsember). Sellest
tulenevalt on käesolev majandusaasta, mis algas 1. septembril 2010 pikem ning
kestab 16 kuud - kuni 31. detsembrini 2011.a. Kontsern avaldab võrreldavad
tegevus- ja finantsandmed, et üleminek oleks sujuvam.
Juhtkond tõi Kontserni strateegiasse sisse uue punkti -optimaalse laenukoormuse
saavutamine, mis võimaldaks jätkusuutlikku dividendide maksmist. Kui senised
strateegia punktid olid põhiosas kasumlikkusele suunatud, siis uus täiendus
panustab rohkem aktsionäridele suunatud väärtustele. Juhtkonna nägemusel võiks
Kontserni netovõla suhe EBITDA-sse olla 5 kordne või alla selle ning
omakapitali suhe varadesse ligikaudu 40%.
Kontserni teise kvartali tulemused vastasid juhtkonna ootustele. Juhtkonna
hinnangul on Kontserni 2010/2011 majandusaasta esimese 6 kuu tegevus olnud hea
ning ettevõte liigub tulemuste paranemise suunal.
PÕHINÄITAJAD II kv. II kv. muutus
2010/2011 2009/2010
------------------------------------------------------------------------
Müügitulu milj. EUR 188,8 158,0 19%
------------------------------------------------------------------------
Brutokasum milj. EUR 24,0 14,5 65%
------------------------------------------------------------------------
Brutokasumi marginaal 13% 9%
------------------------------------------------------------------------
EBITDA milj. EUR 18,1 10,4 74%
------------------------------------------------------------------------
EBITDA marginaal 10% 7%
------------------------------------------------------------------------
Puhaskasum / -kahjum milj. EUR -9,4 -16,3 42%
------------------------------------------------------------------------
Puhaskasumi marginaal -5% -10%
------------------------------------------------------------------------
------------------------------------------------------------------------
Amortisatsioon milj. EUR 17,8 18,1 -1%
------------------------------------------------------------------------
Investeeringud milj. EUR 0,6 3,9 -83%
------------------------------------------------------------------------
------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv* 669 882 040 669 882 040 0%
------------------------------------------------------------------------
Aktsiakasum EUR -0,01 -0,02 42%
------------------------------------------------------------------------
------------------------------------------------------------------------
Reisijate arv 1 999 313 1 623 522 23%
------------------------------------------------------------------------
Kaubaveo ühikute arv 64 407 54 151 19%
------------------------------------------------------------------------
Töötajate keskmine arv 6570 6520
------------------------------------------------------------------------
------------------------------------------------------------------------
28.02.2011 30.11.2010
------------------------------------------------------------------------
Varad milj. EUR 1 822 1 835 -0,8%
------------------------------------------------------------------------
Kohustused milj. EUR 1 163 1 167 -0,4%
------------------------------------------------------------------------
Intressi kandvad kohustused milj. EUR 1 033 1 033 0,0%
------------------------------------------------------------------------
Omakapital kokku milj. EUR 659 668 -1,4%
------------------------------------------------------------------------
Omakapitali määr 36% 36%
------------------------------------------------------------------------
------------------------------------------------------------------------
Aktsiate arv* 669 882 040 669 882 040 0%
------------------------------------------------------------------------
Omakapital aktsia kohta EUR 1,0 1,0
------------------------------------------------------------------------
EBITDA - finantstulude ja -kulude, maksude, kulumi eelne kasum;
Aktsiakasum - Puhaskasum / Kaalutud keskmine aktsiate arv;
Omakapitali määr - Omakapital kokku / Varad kokku;
Omakapital aktsia kohta - Omakapital / Aktsiate arv;
Brutokasumi marginaal - Brutokasum / Müügitulu;
EBITDA marginaal - EBITDA / Müügitulu;
Puhaskasumi marginaal - Puhaskasum / Müügitulu;
*Ei sisalda omaaktsiaid.
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.12.2010- 01.12.2009- 01.09.2010- 01.09.2009-
eurodes) 28.02.2011 28.02.2010 28.02.2011 28.02.2010
Müügitulu 188,778 157,986 391,823 339,293
Müüdud kaupade ja teenuste -164,767 -143,445 -332,276 -292,100
kulu
Brutokasum 24,011 14,541 59,547 47,193
--------------------------------------------------------------------------------
Turustuskulud -13,752 -12,422 -29,873 -26,967
Halduskulud -10,161 -9,984 -20,397 -19,331
Muud äritulud 253 75 319 527
Muud ärikulud -10 140 -17 -38
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 341 -7,650 9,579 1,384
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 2,200 6,358 8,343 7,171
Finantskulud -11,885 -14,983 -26,138 -26,020
Kahjumi osa sidusettevõttest -57 0 -57 0
Kasum/-kahjum enne tulumaksu -9,401 -16,275 -8,273 -17,465
--------------------------------------------------------------------------------
Tulumaks 0 0 0 0
Aruandeperioodi -9,401 -16,275 -8,273 -17,465
puhaskasum/-kahjum
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Valuutakursi vahed -143 1,463 -180 732
välisettevõtetest
Riskimaandamise -151 -31 -705 1,119
instrumentide õiglase
väärtuse muutus
Perioodi muu -294 1,432 -885 1,851
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum -9,695 -14,843 -9,158 -15,614
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
--------------------------------------------------------------------------------
Emaettevõtte omanike osa -9,401 -16,275 -8,273 -17,465
puhaskasumist/-kahjumist
--------------------------------------------------------------------------------
Sh.
--------------------------------------------------------------------------------
Emaettevõtte omanike osa -9,695 -14,843 -9,158 -15,614
koondkasumist/-kahjumist
Kasum/-kahjum aktsia kohta
(EUR-ides ühe aktsia kohta)
- tava -0.01 -0.02 -0.01 -0.03
- lahustatud -0.01 -0.02 -0.01 -0.03
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 28.02.2011 31.08.2010
Käibevara
Raha ja raha ekvivalendid 40,181 57,488
----------------------------------------------------------------------
Nõuded ostjate vastu ja muud nõuded 38,496 42,040
Ettemaksed 13,201 9,752
Tuletisinstrumendid 0 705
Varud 20,208 20,035
Käibevara kokku 112,086 130,020
----------------------------------------------------------------------
Põhivara
Investeeringud sidusettevõtetesse 157 214
----------------------------------------------------------------------
Muud finantsvarad 317 317
Edasilükkunud tulumaksuvara 10,664 10,664
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,633,598 1,663,100
Immateriaalne põhivara 64,485 66,700
----------------------------------------------------------------------
Põhivara kokku 1,709,521 1,741,295
----------------------------------------------------------------------
----------------------------------------------------------------------
VARAD KOKKU 1,821,607 1,871,315
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Intressikandvad võlakohustused 80,943 63,627
----------------------------------------------------------------------
Võlad tarnijatele ja muud võlad 90,147 94,054
Ettemakstud tulud 25,411 23,965
Tuletisinstrumendid 13,928 17,634
Lühiajalised kohustused kokku 210,429 199,280
----------------------------------------------------------------------
Pikaajalised kohustused
----------------------------------------------------------------------
Intressikandvad võlakohustused 952,548 1,004,244
----------------------------------------------------------------------
Muud kohustused 71 74
----------------------------------------------------------------------
Pikaajalised kohustused kokku 952,619 1,004,318
----------------------------------------------------------------------
Kohustused kokku 1,163,048 1,203,598
----------------------------------------------------------------------
OMAKAPITAL
----------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
----------------------------------------------------------------------
Aktsiakapital nimiväärtuses 430,648 430,648
----------------------------------------------------------------------
Ülekurss 639 639
Reservid 72,815 72,607
Jaotamata kasum 154,457 163,823
----------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 658,559 667,717
----------------------------------------------------------------------
OMAKAPITAL KOKKU 658,559 667,717
----------------------------------------------------------------------
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,821,607 1,871,315
----------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.09.2010- 01.09.2009-
28.02.2011 28.02.2010
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum -8,273 -17,465
Korrigeerimised 54,296 61,436
Äritegevusega seotud varade muutused -195 6,725
Äritegevusega seotud kohustuste muutused -2,188 -5,314
Makstud tulumaks -20 -49
--------------------------------------------------------------------------------
43,620 45,333
--------------------------------------------------------------------------------
Rahavood investeerimistegevusest
--------------------------------------------------------------------------------
Materiaalse põhivara ja immateriaalse põhivara -4,246 -4,259
soetamine
Laekumised materiaalse põhivara müügist 34 6,374
Sidusettevõtete aktsiate soetamine 0 -587
Maksed tuletisinstrumentidest -2,474 -1,952
Saadud intressid 46 159
--------------------------------------------------------------------------------
-6,640 -265
--------------------------------------------------------------------------------
Rahavood finantseerimistegevusest
--------------------------------------------------------------------------------
Laenude tagasimaksed -35,805 -36,665
Kasutatud arvelduskrediidi muutus 0 -1,375
Kapitalirendi põhimaksete tasumine -43 -157
Makstud intressid -18,439 -22,556
-54,287 -60,753
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU -17,307 -15,685
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid
- perioodi alguses 57,488 49,982
- suurenemine (+) / vähenemine (-) -17,307 -15,685
--------------------------------------------------------------------------------
- perioodi lõpus 40,181 34,297
--------------------------------------------------------------------------------
Janek Stalmeister
Juhatuse liige
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]
Teate sisu inglise keeles
Pealkiri
First half-year results of the 2010/2011 financial year
Teade
Tallinn, 2011-04-11 15:05 CEST (GLOBE NEWSWIRE) --
First half-year results of the 2010/2011 financial year
In the second quarter (01.12.2010-28.02.2011) the Group (AS Tallink Grupp and
its subsidiaries') continued to show positive developments in the operations.
The Group's sales campaigns and various offers were well received by the
customers throughout the quarter. The passenger number increased to nearly 2
million in the second quarter of the 2010/2011 financial year which is 23%
higher when compared to the second quarter of the previous financial year.
Cargo volumes were 19% higher in same comparison. As an effect of the strong
volume growth and steady revenue per passenger on a year on year comparison the
Group's unaudited consolidated revenue was EUR 188.8 million which is 19% or
EUR 30.8 million higher than in the second quarter of the last financial year.
While the cost inflation is visible in all areas the costs overall did not
exceed the Group's revenue growth and the Group was able to increase earnings.
The most impacting cost item in the second quarter was the fuel cost with a 23%
or EUR 5.8 million increase from the same time in the last year. As the Group
continued to keep the focus on the sales and marketing activities the marketing
expenses continued to increase according to expectations. The Group's EBITDA in
the second quarter of the 2010/2011 financial year was EUR 18.1 million which
is EUR 7.7 million or a 74% increase in the year on year comparison. EBITDA
margin improved from 7% to 10%. In the second quarter, which is the low season,
the Group's unaudited consolidated net loss was 9.4 million compared to the net
loss of 16.3 million year ago.
All the Group's main operations and segments showed a positive development.
Volume and revenue growth was highest on Estonia-Sweden and Latvia-Sweden
routes. Similarly to the last year the Group's weakest route Finland-Germany
was not operated in the low season(January and February). The vessels were in
maintenance during that time. The Group will operate Finland-Germany route in
the summer high season until mid August 2011 when the vessels M/S Superfast VII
and M/S Superfast VIII will be chartered to Stena Line Ltd for at least three
years.
In the Annual General Meeting held in February 2011 the Group's financial year
was changed. The new financial year will be the calendar year, from 1st of
January to 31st of December. Due to the change the current 2010/2011 financial
year which started on 1st of September 2010 will be 16 months long, ending in
31 December 2011. The Group will provide comparable operational and financial
information to make the transition smooth.
The management has introduced a new point in the Group's strategy - to reach a
optimal debt level which would allow sustainable dividends in the future. While
the other strategic points of the Group are profitability targeted the new path
will contribute more to the shareholders' value and return. In the management
opinion the comfortable level of the Group's net debt to EBITDA should be 5
times or less and the equity ratio to total assets around 40%.
The Group's second quarter result meets the management expectations. In the
management opinion the Group's development in the 2010/2011 financial year has
performed well and the Group is on the track to improve the results in the
current financial year.
KEY FIGURES Q2 2010/2011 Q2 2009/2010 change
--------------------------------------------------------------------------------
Revenue EUR million 188.8 158.0 19%
--------------------------------------------------------------------------------
Gross profit EUR million 24.0 14.5 65%
--------------------------------------------------------------------------------
Gross margin 13% 9%
--------------------------------------------------------------------------------
EBITDA EUR million 18.1 10.4 74%
--------------------------------------------------------------------------------
EBITDA margin 10% 7%
--------------------------------------------------------------------------------
Net profit / -loss EUR million -9.4 -16.3 42%
--------------------------------------------------------------------------------
Net profit margin -5% -10%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation & amortisation EUR million 17.8 18.1 -1%
--------------------------------------------------------------------------------
Investments EUR million 0.6 3.9 -83%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of shares 669 882 040 669 882 040 0%
outstanding*
--------------------------------------------------------------------------------
Earnings per share EUR -0.01 -0.02 42%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 1 999 313 1 623 522 23%
--------------------------------------------------------------------------------
Number of cargo units 64 407 54 151 19%
--------------------------------------------------------------------------------
Average number of employees 6570 6520
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
28.02.2011 30.11.2010
--------------------------------------------------------------------------------
Total assets EUR million 1 822 1 835 -0.8%
--------------------------------------------------------------------------------
Total liabilities EUR million 1 163 1 167 -0.4%
--------------------------------------------------------------------------------
Interest bearing liabilities EUR million 1 033 1 033 0.0%
--------------------------------------------------------------------------------
Total equity EUR million 659 668 -1.4%
--------------------------------------------------------------------------------
Equity ratio 36% 36%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of shares outstanding* 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Shareholders' equity per share EUR 1.0 1.0
--------------------------------------------------------------------------------
EBITDA - Earnings before net financial items, taxes, depreciation and
amortization;
EBITDA margin - EBITDA / net sales;
Gross margin - gross profit / net sales;
Net profit margin - net 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.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of 01.12.2010- 01.12.2009- 01.09.2010- 01.09.2009-
EUR) 28.02.2011 28.02.2010 28.02.2011 28.02.2010
Revenue 188,778 157,986 391,823 339,293
Cost of sales -164,767 -143,445 -332,276 -292,100
Gross profit 24,011 14,541 59,547 47,193
--------------------------------------------------------------------------------
Marketing expenses -13,752 -12,422 -29,873 -26,967
Administrative expenses -10,161 -9,984 -20,397 -19,331
Other income 253 75 319 527
Other expenses -10 140 -17 -38
--------------------------------------------------------------------------------
Results from operating 341 -7,650 9,579 1,384
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 2,200 6,358 8,343 7,171
Finance costs -11,885 -14,983 -26,138 -26,020
Share of loss of associates -57 0 -57 0
Profit/-loss before income -9,401 -16,275 -8,273 -17,465
tax
--------------------------------------------------------------------------------
Income tax 0 0 0 0
Net profit/-loss for the -9,401 -16,275 -8,273 -17,465
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Exchange differences on -143 1,463 -180 732
translating foreign
operations
Changes in fair value of -151 -31 -705 1,119
cash flow hedges
Other comprehensive -294 1,432 -885 1,851
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive -9,695 -14,843 -9,158 -15,614
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit/-loss attributable
to:
--------------------------------------------------------------------------------
Equity holders of the -9,401 -16,275 -8,273 -17,465
parent
--------------------------------------------------------------------------------
Total comprehensive
income/-expense
attributable to:
--------------------------------------------------------------------------------
Equity holders of the -9,695 -14,843 -9,158 -15,614
parent
Earnings per share (in EUR
per share)
- basic -0.01 -0.02 -0.01 -0.03
- diluted -0.01 -0.02 -0.01 -0.03
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
ASSETS 28.02.2011 31.08.2010
Current assets
Cash and cash equivalents 40,181 57,488
--------------------------------------------------------------------------------
Trade and other receivables 38,496 42,040
Prepayments 13,201 9,752
Derivatives 0 705
Inventories 20,208 20,035
Total current assets 112,086 130,020
--------------------------------------------------------------------------------
Non-current assets
Investments in associates 157 214
--------------------------------------------------------------------------------
Other financial assets 317 317
Deferred income tax assets 10,664 10,664
Investment property 300 300
Property, plant and equipment 1,633,598 1,663,100
Intangible assets 64,485 66,700
--------------------------------------------------------------------------------
Total non-current assets 1,709,521 1,741,295
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL ASSETS 1,821,607 1,871,315
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
Current liabilities
Interest bearing loans and borrowings 80,943 63,627
--------------------------------------------------------------------------------
Trade and other payables 90,147 94,054
Deferred income 25,411 23,965
Derivatives 13,928 17,634
Total current liabilities 210,429 199,280
--------------------------------------------------------------------------------
Non-current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 952,548 1,004,244
--------------------------------------------------------------------------------
Other liabilities 71 74
--------------------------------------------------------------------------------
Total non-current liabilities 952,619 1,004,318
--------------------------------------------------------------------------------
TOTAL LIABILITIES 1,163,048 1,203,598
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
Share capital 430,648 430,648
--------------------------------------------------------------------------------
Share premium 639 639
Reserves 72,815 72,607
Retained earnings 154,457 163,823
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 658,559 667,717
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 658,559 667,717
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,821,607 1,871,315
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EUR) 01.09.2010- 01.09.2009-
28.02.2011 28.02.2010
Cash flows from operating activities
Net profit/-loss for the period -8,273 -17,465
Adjustments 54,296 61,436
Changes in assets related to operating activities -195 6,725
Changes in liabilities related to operating activities -2,188 -5,314
Income tax paid -20 -49
--------------------------------------------------------------------------------
43,620 45,333
--------------------------------------------------------------------------------
Cash flow used for investing activities
--------------------------------------------------------------------------------
Purchase of property, plant and equipment and -4,246 -4,259
intangible assets
Proceeds from disposals of property, plant and 34 6,374
equipment
Issue of shares by associates 0 -587
Payments from settlement of derivatives -2,474 -1,952
Interest received 46 159
--------------------------------------------------------------------------------
-6,640 -265
--------------------------------------------------------------------------------
Cash flow from (+)/ used for (-) financing activities
--------------------------------------------------------------------------------
Redemption of loans -35,805 -36,665
Change in overdraft 0 -1,375
Repayment of finance lease liabilities -43 -157
Interest paid -18,439 -22,556
-54,287 -60,753
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW -17,307 -15,685
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Cash and cash equivalents:
- at the beginning of period 57,488 49,982
- increase (+) / decrease (-) -17,307 -15,685
--------------------------------------------------------------------------------
Cash and cash equivalents at end of period 40,181 34,297
--------------------------------------------------------------------------------
Janek Stalmeister
Member of the Management Board, CFO
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]