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
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
4228
Manused
Esitamise kuupäev ja aeg
14.11.2013 16:45:00
Teate sisu eesti keeles
Pealkiri
2013 majandusaasta III kvartali majandustulemused
Teade
Tallinn, 2013-11-14 15:45 CET (GLOBE NEWSWIRE) --
2013 majandusaasta III kvartali majandustulemused
AS-i Tallink Grupp ja tema tütarettevõtete (Kontsern) 2013 majandusaasta
kolmanda kvartali (1. juuli – 30. september) auditeerimata müügitulu oli kokku
278,4 miljonit eurot. EBITDA ulatus 72,5 miljoni euroni ning auditeerimata
puhaskasum 2013. majandusaasta kolmandas kvartalis oli 44,0 miljonit eurot.
Kontserni tegevust mõjutas regiooni üldine nõrk makromajanduskeskkond.
Kontserni peamistel turgudel on märgatav majanduskasvu aeglustumine. Soome
majanduse jätkuv langus on näha avaldatud nõrkades jaekaubanduse näitajates
ning see on avaldanud mõju ka Kontserni reisijate tarbimisele.
Kontsern vedas 2013 majandusaasta kolmandas kvartalis kokku 2,7 miljonit
reisijat, mida on 1,9% vähem kui sama perioodi jooksul eelmisel aastal.
Eesti-Soome vahelistel laevaliinidel kasvas reisijate arv 2,3% ning Läti-Rootsi
vahelisel liinil 4.1%. Reisijate arv kahanes Soome-Rootsi vahelistel liinidel
9,6%, kus on muutunud konkurents ning Kontsern on vähendanud laevade
mahutavust. Veetud kaubaühikute arv oli kvartalis kokku 76,0 tuhat, mis on
10,5% rohkem osaliselt pakkumise ja struktuuri muutustest turul võrreldes
eelmise aasta sama perioodiga.
Suurenes piletitulu reisija kohta kuid müük restoranides ja poodides langes
mõnevõrra.
2013 majandusaasta kolmanda kvartali auditeerimata müügitulu oli kokku 278,4
miljonit eurot, mis on 1,4% vähem võrreldes eelmise aasta sama perioodiga.
Brutokasum oli 79,8 miljonit eurot, mis on 5,3 miljonit vähem kui eelmise aasta
samal perioodil. EBITDA ulatus 72,5 miljoni euroni, 4,4 miljonit eurot vähem
kui eelmise majandusaasta samal perioodil.
M/S Isabelle liinile toomise tulemusel saavutati Riia-Stockholmi liinil
kolmanda kvartali kõrgeim tulemus 4,7 miljonit eurot, see on 58,4% rohkem
võrreldes eelmise aasta sama perioodiga. Liini 9 kuu tulemus on positiivne.
Auditeerimata puhaskasum 2013. majandusaasta kolmandas kvartalis oli 44,0
miljonit eurot, ehk 0,07 eurot aktsia kohta. Eelmise majandusaasta samal
perioodil oli kasum 49,6 miljonit eurot ehk 0,07 eurot aktsia kohta.
Auditeerimata puhaskasum 2013. majandusaasta esimese üheksa kuu kohta oli 35,8
miljonit eurot võrrelduna 50,6 miljoni euroga eelmise aasta samal perioodil.
Tulemust mõjutas põhiliselt 8,9 miljoni euro suurune dividendidega seotud
teises kvartalis tekkinud tulumaksu kulu.
Käesoleva majandusaasta kolmandas kvartalis oli rahavoog äritegevusest kokku
59,2 miljonit eurot. Vaatamata sellele, et kasum äritegevusest aeglustus,
suurenes kontserni rahavoog äritegevusest kolmandas kvartalis ja ka esimese
üheksa kuuga eelmise aasta sama perioodiga võrreldes. Kontserni kogulikviidsus
ulatus kolmanda kvartali lõpus 100 miljoni euroni, mis hõlmab 50,0 miljonit
eurot raha ja 50,0 miljonit eurot kasutamata krediidilimiite, tagades tugeva
finantspositsiooni jätkusuutlikuks opereerimiseks.
Kontserni netovõlg jätkas kahanemist, ulatudes 758 miljoni euroni kolmanda
kvartali lõpus.
Meie klientidel on kõrged ootused kontserni poolt pakutavatele teenustele.
Kõrge kliendi rahulolu on meie jaoks oluline strateegiline faktor. Kontserni
juhtkond on võtnud eesmärgiks uuendada laevadel pakutavaid tooteid ning tõsta
kruiisidelt saadava kogemuse atraktiivsust. Jaekaubanduse ning
klienditeeninduse sektor on pidevalt arenev valdkond kus võib näha uusi
kontseptsioone iga päev. Veebruaris 2014 lansseerib Kontsern uuendatud Silja
Serenade’i Stockholm-Helsingi liinil. Laeval saab olema 50% võrra rohkem
kaubanduspinda, mis hõlmab endas ka uut kaupluse kontseptsiooni Superstore.
Uuendatakse Grand Buffee ning tuleb uus Itaalia restoran. Teised avalikud alad
läbivad samuti uuenduskuuri näiteks Commodore klassi kajutid ja värskendatud
SPA ning saunade ala. Sõsarlaev Silja Symphony läbib sarnase uuenduse 2014
aasta sügisel. Oluline osa teeninduskeskkonna uuendamise kontseptsioonist on
laiendada kaubanduse pinda eesmärgiga pakkuda paremat kaubavalikut ning
meeldivamat ostukogemust. 2014 aastal plaanib Kontsern investeerida üle 20
miljoni euro Helsingi-Stockholmi liinil sõitvate laevade uuendamiseks.
Kontserni juhatus ei ole 2013 majandusaasta tulemustega rahul. Seoses
dividendidega seotud tulumaksu kuluga, nõrga majanduskasvuga regioonis ning
Soome-Rootsi liinidel muutunud konkurentsiga näeb Kontserni juhatus, et selle
aasta tulemus ei saavuta eelmise aasta taset. Tootearenduses on plaanitud
erinevaid parendusi, et toetada müügitulu kuid samuti on töös erinevad kulude
vähendamise tegevused, et kohaneda majanduskeskkonna muutustega.
PÕHINÄITAJAD 2013 2012 muutus
apr-sept apr-sept
--------------------------------------------------------------------------------
EUR EUR
--------------------------------------------------------------------------------
Müügitulu (miljonites) 278,4 282,4 -1,4%
--------------------------------------------------------------------------------
Brutokasum (miljonites) 79,8 85,2 -6,3%
--------------------------------------------------------------------------------
Brutokasumi marginaal 28,7% 30,2%
--------------------------------------------------------------------------------
EBITDA (miljonites) 72,5 77,0 -5,7%
--------------------------------------------------------------------------------
EBITDA marginaal 26,1% 27,3%
--------------------------------------------------------------------------------
Aruande perioodi puhaskasum / -kahjum 44,0 49,6 -11,1%
(miljonites)
--------------------------------------------------------------------------------
Puhaskasumi marginaal 15,8% 17,6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon (miljonites) 18,5 17,7 4,5%
--------------------------------------------------------------------------------
Investeeringud (miljonites) 2,5 5,2 -52,7%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv** 669 882 040 669 882 040
--------------------------------------------------------------------------------
Aktsiakasum 0,07 0,07 -11,1%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 2 718 778 2 770 147 -1,9%
--------------------------------------------------------------------------------
Kaubaveo ühikute arv 76 043 68 831 10,5%
--------------------------------------------------------------------------------
Töötajate keskmine arv 7 185 7 132 0,7%
--------------------------------------------------------------------------------
----------------------------------------------- -------
--------------------------
30.09.2013 30.06.2013
--------------------------------------------------------------------------------
Varad 1 723,1 1 760,2 -2,1%
--------------------------------------------------------------------------------
Intressi kandvad kohustused (miljonites) 808,1 835,4 -3,3%
--------------------------------------------------------------------------------
Netovõlg (miljonites) 758,1 767,3 -1,2%
--------------------------------------------------------------------------------
Omakapital kokku (miljonites) 763,4 719,3 8,4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Omakapitali määr 44,3% 40,9%
--------------------------------------------------------------------------------
Netovõla EBITDA suhe 4,8 4,7
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv** 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta 1,14 1,09 4,8%
--------------------------------------------------------------------------------
EBITDA: Finantstulude ja -kulude, maksude ja 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;
Netovõlg: Intressikandvad kohustused miinus raha ja raha ekvivalendid;
Netovõla ja EBITDA suhe: Netovõlg / 12 kuu EBITDA.
** Aktsiate arv ei sisalda oma aktsiaid.
KONSOLIDEERITUD KOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.07.2013- 01.07.2012- 01.01.2013- 01.01.2012-
eurodes)
30.09.2013 30.09.2012 30.09.2013 30.09.2012
================================================================================
Müügitulu 278,391 282,441 718,001 721,052
Müüdud kaupade ja teenuste -198,574 -197,290 -564,968 -559,833
kulu
Brutokasum 79,817 85,151 153,033 161,219
--------------------------------------------------------------------------------
Turustuskulud -15,926 -15,591 -49,642 -48,224
Halduskulud -10,068 -10,561 -32,469 -33,455
Muud äritulud 277 347 1,085 853
Muud ärikulud -12 -820 -141 -852
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 54,088 58,526 71,866 79,541
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 4,577 1,382 15,790 2,534
Finantskulud -14,642 -11,130 -42,965 -32,258
Kasum tütarettevõtte müügist 0 783 0 783
Kasum/-kahjum enne tulumaksu 44,023 49,561 44,691 50,600
--------------------------------------------------------------------------------
Tulumaks 16 0 -8,903 0
Aruandeperioodi 44,039 49,561 35,788 50,600
puhaskasum/-kahjum
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Valuutakursi vahed 3 -116 80 -121
välisettevõtetest
Perioodi muu 3 -116 80 -121
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum 44,042 49,445 35,868 50,479
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
Emaettevõtte omanike osa 44,039 49,561 35,788 50,600
puhaskasumist/-kahjumist
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Sh.
Emaettevõtte omanike osa 44,042 49,445 35,868 50,479
koondkasumist/-kahjumist
Kasum aktsia kohta (EUR-ides
ühe aktsia kohta)
- tava 0.07 0.07 0.05 0.08
- lahustatud 0.07 0.07 0.05 0.08
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 30.09.2013 31.12.2012
================================================================================
Käibevara
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid 50,023 65,600
Nõuded ostjate vastu ja muud nõuded 46,726 42,555
Ettemaksed 15,346 5,151
Tuletisinstrumendid 501 0
Varud 28,650 29,426
Käibevara kokku 141,246 142,732
--------------------------------------------------------------------------------
Põhivara
--------------------------------------------------------------------------------
Investeeringud kapitaliosaluse meetodil kajastatud 245 245
investeeringuobjektidesse
Muud finantsvarad 292 296
Edasilükkunud tulumaksuvara 12,264 12,264
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,511,140 1,526,995
Immateriaalne põhivara 57,659 58,999
---------------------------------------------------------
Põhivara kokku 1,581,900 1,599,099
--------------------------------------------------------------------------------
---------------------------------------------------------
VARAD KOKKU 1,723,146 1,741,831
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
================================================================================
Lühiajalised kohustused
--------------------------------------------------------------------------------
Intressikandvad võlakohustused 87,321 103,685
Võlad tarnijatele ja muud võlad 95,793 92,988
Ettemakstud tulud 27,445 25,458
Tuletisinstrumendid 28,285 22,102
Lühiajalised kohustused kokku 238,844 244,233
--------------------------------------------------------------------------------
Pikaajalised kohustused
-----------------------
--------------------------------------------------------------------------------
Intressikandvad võlakohustused 720,782 736,699
Muud kohustused 78 69
--------------------------------------------------------------------------------
Pikaajalised kohustused kokku 720,860 736,768
--------------------------------------------------------------------------------
Kohustused kokku 959,704 981,001
--------------------------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404,290 404,290
Ülekurss 639 639
Reservid 72,224 69,091
Jaotamata kasum 286,289 286,810
--------------------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 763,442 760,830
--------------------------------------------------------------------------------
OMAKAPITAL KOKKU 763,442 760,830
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,723,146 1,741,831
--------------------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.01.2013 - 01.01.2012-
30.09.2013 30.09.2012
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 35,788 50,600
Korrigeerimised 95,069 82,687
Äritegevusega seotud varade muutused -13,352 -15,974
Äritegevusega seotud kohustuste muutused 2,720 1,297
Makstud tulumaks -200 -11
--------------------------------------------------------------------------------
120,025 118,599
--------------------------------------------------------------------------------
------------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse põhivara -38,332 -8,898
soetamine
Laekumised materiaalse põhivara müügist 270 47
Laekumised tütarettevõtetest 0 1,992
Tuletisinstrumentidega seotud maksed -3,374 -2,912
Saadud intressid 17 236
--------------------------------------------------------------------------------
-41,419 -9,535
--------------------------------------------------------------------------------
------------------------------------------------------
Rahavood finantseerimistegevusest
Laekumised laenudest 24,000 0
Laenude tagasimaksed -168,230 -99,477
Laekumised võlakirjadest 115,487 0
Kapitalirendi põhimaksete tasumine -4 -51
Makstud intressid -22,472 -25,880
Laenudega seotud tehingukulude tasumine -567 0
Makstud dividendid -33,494 0
Makstud dividendide tulumaks -8,903 0
-94,183 -125,408
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU -15,577 -16,344
--------------------------------------------------------------------------------
------------------------------------------------------ ------------
Raha ja raha ekvivalendid
- perioodi alguses 65,600 75,421
- suurenemine (+) / vähenemine (-) -15,577 -16,344
--------------------------------------------------------------------------------
- perioodi lõpus 50,023 59,077
--------------------------------------------------------------------------------
Janek Stalmeister
Juhatuse liige
AS Tallink Grupp
Tel: +372 6409 800
Email: [email protected]
Harri Hanschmidt
Investorsuhete juht
AS Tallink Grupp
Sadama 5/7, 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]
Teate sisu inglise keeles
Pealkiri
Q3 results of the 2013 financial year
Teade
Tallinn, 2013-11-14 15:45 CET (GLOBE NEWSWIRE) --
Q3 results of the 2013 financial year
In the third quarter (1 July - 30 September) of the 2013 financial year AS
Tallink Grupp and its subsidiaries’ (the Group) unaudited consolidated revenue
amounted to EUR 278.4 million. The Group’s EBITDA amounted to EUR 72.5 million
and the unaudited net profit for the third quarter was EUR 44.0 million.
The Group’s operations were affected by overall weak economic environment in
the region. The countries which are the Group’s main markets are experiencing
noticeable slowdown in their economies. The continuing decline of Finland
economy is seen in the reported weak retail sales indicators and has also had
impact to the Group’s passengers’ spending behaviour.
The Group carried a total of 2.7 million passengers in the third quarter which
is 1.9% less compared to the same period last year. The number of cargo units
transported amounted to 76.0 thousand, which is 10.5% more than in the same
period last year due to some capacity and structural changes in the market when
compared to the previous year. Growth in the number of passengers increased on
the Estonia-Finland route by 2.3% and on the Latvia-Sweden route by 4.1%. The
number of passengers decreased between the Finland-Sweden route by 9.6%, where
the competition situation has changed and the Group has decreased its capacity.
Ticket sales continued to show increase, but passenger spending from restaurant
and shop sales experienced some decline.
In the third quarter of the 2013 financial year the Group’s revenue was EUR
278.4 million which is a decrease by 1.4%. Gross profit amounted to EUR 79.8
million being EUR 5.3 million less than in the previous year. EBITDA amounted
to EUR 72.5 million, which is EUR 4.4 million less compared to the same period
last year.
Following the introduction of M/S Isabelle the third quarter result on the
Stockholm-Riga route reached to highest ever EUR 4.7 million, an increase by
58.4% when compared to the last year same period. The nine months result of the
route entered the positive territory.
The unaudited net profit for the third quarter was EUR 44.0 million or EUR 0.07
per share compared to the net profit of EUR 49.6 million or EUR 0.07 per share
in the same period last year. The unaudited net profit for the first nine
months was EUR 35.8 million, the same period last year was EUR 50.6 million.
The strongest impact on the result came from the EUR 8.9 million dividend
related tax expense in the second quarter.
The cash flow from operating activities amounted to EUR 59.2 million. Despite
the slowdown in the operating result the Group was successful in generating
higher cash flow from operating activities both in the third quarter and for
the first nine months. The total liquidity, cash and unused credit facilities
at the end of the third quarter were EUR 100 million providing a strong
position for sustainable operations. At the end of the third quarter 2013 the
Group had EUR 50.0 million in cash and equivalents and the total of unused
credit lines were at EUR 50.0 million.
The Group’s net debt continued to decrease, amounting to EUR 758 million in the
end of the third quarter.
Our customers have high expectations for the services the Group offers. The
high customer satisfaction from cruise experience is an important strategic
factor for us. Management has taken the aim to make our on-board offering and
shopping environment even more attractive. The retail sector is a constantly
developing area bringing along new concepts every day. In February the Group
will launch the major refresh of the vessel Silja Serenade on the
Stockholm-Helsinki route. The vessel will have a 50% expanded shopping area
including a new Superstore, upgraded Grand Buffet concept and a new Italian
restaurant. Several of the other public areas will get the facelift including
the refurbishment of Commodore Class cabins and a refreshed SPA &
Sauna area. The sister ship Silja Symphony will follow with similar approach in
autumn 2014. An important part of our upcoming public areas development
on-board our vessels is to advance our shops’ concepts for better shopping
experience as well as a improved selection of products. In 2014 the Group plans
to invest more than EUR 20 million in upgrading the vessels on the
Helsinki-Stockholm route.
The management is not pleased with the results in the 2013 financial year. Due
to the dividend related tax expense, adverse economic developments and the
increased competition on Finland-Sweden routes the Group’s management foresees
that the results for this year will not reach the previous year’s level.
Improvements in product development are being made to increase the revenue
generation but also cost reductions in some areas are processed in order to
adapt with the changed economic environment.
Q3 KEY FIGURES 2013 2012 Change
July-September July-September
-------------------------------------------------------------
Revenue EUR million 278.4 282.4 -1.4%
--------------------------------------------------------------------------------
Gross profit EUR million 79.8 85.2 -6.3%
--------------------------------------------------------------------------------
Gross margin (%) 28.7% 30.2%
--------------------------------------------------------------------------------
EBITDA EUR million 72.5 77.0 -5.7%
--------------------------------------------------------------------------------
EBITDA margin (%) 26.1% 27.3%
--------------------------------------------------------------------------------
Net profit for the EUR million 44.0 49.6 -11.1%
period
--------------------------------------------------------------------------------
Net profit margin (%) 15.8% 17.6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation and EUR million 18.5 17.7 4.5%
amortization
--------------------------------------------------------------------------------
Investments EUR million 2.5 5.2 -52.7%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of ordinary 669 882 040 669 882 040
shares outstanding
--------------------------------------------------------------------------------
Earnings per share EUR 0.07 0.07 -11.1%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2 718 778 2 770 147 -1.9%
--------------------------------------------------------------------------------
Number of cargo units 76 043 68 831 10.5%
--------------------------------------------------------------------------------
Average number of 7 185 7 132 0.7%
employees
--------------------------------------------------------------------------------
----------------------------------------- -------
--------------------------------
30.09.2013 30.06.2013
--------------------------------------------------------------------------------
Total assets EUR million 1 723.1 1 760.2 -2.1%
--------------------------------------------------------------------------------
Interest-bearing EUR million 808.1 835.4 -3.3%
liabilities
--------------------------------------------------------------------------------
Net debt EUR million 758.1 767.3 -1.2%
--------------------------------------------------------------------------------
Total equity EUR million 763.4 719.3 8.4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Equity ratio (%) 44.3% 40.9%
--------------------------------------------------------------------------------
Net debt to EBITDA 4.8 4.7
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of ordinary 669 882 040 669 882 040 0%
shares outstanding1
--------------------------------------------------------------------------------
Shareholders’ equity EUR 1.14 1.09 4.8%
per share
--------------------------------------------------------------------------------
EBITDA: Earnings before net financial items, taxes, depreciation and
amortization;
Earnings per share: net profit / weighted average number of shares outstanding;
Equity ratio: total equity / total assets;
Shareholder’s equity per share: shareholder’s equity / number of shares
outstanding;
Gross margin: gross profit / net sales;
EBITDA margin: EBITDA / net sales;
Net profit margin: net profit / net sales;
Net debt: Interest bearing liabilities less cash and cash equivalents;
Net debt to EBITDA: Net debt / 12-months trailing EBITDA.
1 Share numbers exclude own shares.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(unaudited, in thousands of 01.07.2013- 01.07.2012- 01.01.2013- 01.01.2012-
EUR)
30.09.2013 30.09.2012 30.09.2013 30.09.2012
================================================================================
Revenue 278,391 282,441 718,001 721,052
Cost of sales -198,574 -197,290 -564,968 -559,833
Gross profit 79,817 85,151 153,033 161,219
--------------------------------------------------------------------------------
Marketing expenses -15,926 -15,591 -49,642 -48,224
Administrative expenses -10,068 -10,561 -32,469 -33,455
Other income 277 347 1,085 853
Other expenses -12 -820 -141 -852
--------------------------------------------------------------------------------
Results from operating 54,088 58,526 71,866 79,541
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 4,577 1,382 15,790 2,534
Finance costs -14,642 -11,130 -42,965 -32,258
Profit from the sale of a 0 783 0 783
subsidiary
Profit/-loss before income 44,023 49,561 44,691 50,600
tax
--------------------------------------------------------------------------------
Income tax 16 0 -8,903 0
--------------------------------------------------------------------------------
Net profit/-loss for the 44,039 49,561 35,788 50,600
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Exchange differences on 3 -116 80 -121
translating foreign
operations
Other comprehensive 3 -116 80 -121
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive 44,042 49,445 35,868 50,479
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit/-loss attributable
to:
Equity holders of the 44,039 49,561 35,788 50,600
parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Total comprehensive
income/-expense
attributable to:
Equity holders of the 44,042 49,445 35,868 50,479
parent
Earnings per share (in EUR
per share)
- basic 0.07 0.07 0.05 0.08
- diluted 0.07 0.07 0.05 0.08
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of EUR)
ASSETS 30.09.2013 31.12.2012
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 50,023 65,600
Trade and other receivables 46,726 42,555
Prepayments 15,346 5,151
Derivatives 501 0
Inventories 28,650 29,426
Total current assets 141,246 142,732
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in equity-accounted investees 245 245
Other financial assets 292 296
Deferred income tax assets 12,264 12,264
Investment property 300 300
Property, plant and equipment 1,511,140 1,526,995
Intangible assets 57,659 58,999
---------------------------------------------------------
Total non-current assets 1,581,900 1,599,099
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,723,146 1,741,831
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 87,321 103,685
Trade and other payables 95,793 92,988
Deferred income 27,445 25,458
Derivatives 28,285 22,102
Total current liabilities 238,844 244,233
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 720,782 736,699
Other liabilities 78 69
--------------------------------------------------------------------------------
Total non-current liabilities 720,860 736,768
--------------------------------------------------------------------------------
TOTAL LIABILITIES 959,704 981,001
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,290 404,290
Share premium 639 639
Reserves 72,224 69,091
Retained earnings 286,289 286,810
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 763,442 760,830
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 763,442 760,830
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,723,146 1,741,831
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CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of EUR) 01.01.2013 - 01.01.2012-
30.09.2013 30.09.2012
Cash flows from operating activities
Net profit/-loss for the period 35,788 50,600
Adjustments 95,069 82,687
Changes in assets related to operating activities -13,352 -15,974
Changes in liabilities related to operating 2,720 1,297
activities
Income tax paid -200 -11
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120,025 118,599
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Cash flow used for investing activities
Purchase of property, plant and equipment and -38,332 -8,898
intangible assets
Proceeds from disposals of property, plant and 270 47
equipment
Proceeds from subsidiaries 0 1,992
Payments for settlement of derivatives -3,374 -2,912
Interest received 17 236
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-41,419 -9,535
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Cash flow from (+)/ used for (-) financing activities
Proceeds from loans 24,000 0
Redemption of loans -168,230 -99,477
Proceeds from bonds 115,487 0
Repayment of finance lease liabilities -4 -51
Interest paid -22,472 -25,880
Payment of transaction costs related to loans -567 0
Dividends paid -33,494 0
Income tax on dividends paid -8,903 0
-94,183 -125,408
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TOTAL NET CASH FLOW -15,577 -16,344
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Cash and cash equivalents:
- at the beginning of period 65,600 75,421
- increase (+) / decrease (-) -15,577 -16,344
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Cash and cash equivalents at the end of period 50,023 59,077
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Janek Stalmeister
Juhatuse liige
AS Tallink Grupp
Tel +372 640 9800
E-mail [email protected]
Harri Hanschmidt
Head of Investor Relations
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]