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
4723
Manused
Esitamise kuupäev ja aeg
13.11.2014 09:50:00
Teate sisu eesti keeles
Pealkiri
2014 majanduaasta III kvartali majandustulemused
Teade
Tallinn, 2014-11-13 08:50 CET (GLOBE NEWSWIRE) --
2014 majanduaasta III kvartali majandustulemused
AS Tallink Grupp ja tema tütarettevõtted (Kontsern) vedasid 2014 majandusaasta
kolmandas kvartalis (1. juuli – 30. september) kokku ligi 2,6 miljonit
reisijat, mida on 5,8% vähem kui sama perioodi jooksul eelmisel aastal. Veetud
kaubaühikute arv kasvas 1,0% võrra ning veetud sõiduautode arv kahanes 3,7%
võrreldes eelmise aasta sama perioodiga.
Kontserni konsolideeritud müügitulu kolmandas kvartalis oli 262,7 miljonit
eurot, mis on 5,7% ehk 15,7 miljonit eurot väiksem kui eelmise majandusaasta
kolmandas kvartalis. 2014 majandusaasta kolmanda kvartali brutokasum oli 69,6
miljonit eurot ning EBITDA 64,0 miljonit eurot vastavalt 10,2 miljonit eurot ja
8,6 miljonit eurot vähem kui eelmise majandusaasta samal perioodil.
Jätkuvalt avaldavad Kontserni tegevusele mõju geopoliitilised sündmused
Euroopas. Reisijate arv Vene turult on kolmandas kvartalis kahanenud 25% võrra,
võrreldes eelmise aasta sama perioodiga.
Seoses tulevast aastast kehtima hakkava väävlidirektiiviga on Kontsern töötanud
sujuvama ülemineku nimel. Üks eesmärkidest on opereerimise efektiivsuse
parandamine läbi kütusekulude vähendamise. Lähtuvalt sellest toimusid kolmandas
kvartalis järgnevad muudatused: reisilaev Silja Europa prahiti,
Tallinna-Stockholmi liinil sõitnud Baltic Queen asendas Tallinna-Helsingi
liinil sõitnud laeva Silja Europa ja Riia-Stockholmi liinil sõitnud Romantika
asendas siiamaani Tallinna-Stockholmi liinil sõitnud laeva Baltic Queen.
Riia-Stockholmi liinil jätkab liiklemist Isabelle. Suurem osa Kontserni
tulemuse langusest on ühekordne mõju laevade ümberpaigutustest, Silja Euroopa
prahtimisest ning Silja Symphony ümberehitusest. Nimetatud muudatused
opereerimises iseloomustavad meie äri paindlikkust ning tagavad meile parema
ettevalmistuse järgmiseks aastaks.
Kolmandas kvartalis avaldus Eesti-Soome vahelisel laevaliinil reisijate veo
langus 3,3%, samas veetud kaubaveoühikute arv kasvas 11,5% ning müügitulu jäi
eelmise aasta tasemele. Konkurentsist tingituna suurenes pakkumine Eesti-Soome
liinil, mis avaldas mõju reisijate arvule ja segmendi tulemusele. Soome-Rootsi
vahelistel laevaliinidel vähenes reisijate veo maht 5,5%, veetud
kaubaveoühikute arv langes 11,0% ning müügitulu langes 7,4% võrra. Tulemust
mõjutasid Silja Symphony ümberehitustööd, mille tõttu laev oli liinilt ära
suurema osa septembrist. Läti-Rootsi vahelistel laevaliinidel oli näha
reisijate veo langust 23,3%, veetud kaubaveoühikute arv kahanes 42,5% võrra
ning müügitulu kahanes 24,5% võrreldes eelmise aasta sama perioodiga. Tulemust
mõjutas Romantika liikumine Tallinn-Stockholmi liinile, jättes liinile Isabelle
ainsa laevana.
Kolmandas kvartalis oli võrreldes eelmise aastaga suurem arv laevu välja
prahitud ning sellest tingitult kasvasid laevade prahtimise tulud 58,9% ehk 5,2
miljoni euro võrra, võrreldes eelmise aasta sama perioodiga. Laevade
prahtimisest on oodata kasumlikkusele positiivset mõju järgnevates kvartalites.
Kokku on välja prahitud kuus laeva, eelmisel aastal oli samal ajal välja
prahitud neli laeva.
Järgmise aasta kaubaveo hinnastamisel oleme võtnud arvesse üleminekut
kallimale, madalama väävlisisaldusega kütusele. Reisijapiletite hinnastamine
sõltub turu nõudlusest, konkurentsist ja hooajalisusest.
Kontserni auditeerimata puhaskasum 2014. majandusaasta kolmandas kvartalis oli
36,2 miljonit eurot, ehk 0,05 eurot aktsia kohta. Eelmise majandusaasta samal
perioodil oli kasum 44,0 miljonit eurot ehk 0,07 eurot aktsia kohta.
Kontserni kogulikviidsus ulatus kolmanda kvartali lõpus 66,7 miljoni euroni,
mis hõlmab 66,1 miljonit eurot raha ja 0,5 miljonit eurot kasutamata
krediidilimiite, tagades tugeva finantspositsiooni jätkusuutlikuks
opereerimiseks.
PÕHINÄITAJAD 2014 2013 muutus
juuli-septemb juuli-septemb
er er
--------------------------------------------------------------------------------
EUR EUR
--------------------------------------------------------------------------------
Müügitulu (miljonites) 262,7 278,4 -5,7%
--------------------------------------------------------------------------------
Brutokasum (miljonites) 69,6 79,8 -12,8%
--------------------------------------------------------------------------------
Brutokasumi marginaal 26,5% 28,7%
--------------------------------------------------------------------------------
EBITDA (miljonites) 64,0 72,5 -11,8%
--------------------------------------------------------------------------------
EBITDA marginaal 24,4% 26,1%
--------------------------------------------------------------------------------
Aruande perioodi puhaskasum / -kahjum 36,2 44,0 -17,9%
(miljonites)
--------------------------------------------------------------------------------
Puhaskasumi marginaal 13,8% 15,8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon (miljonites) 19,3 18,5 4,8%
--------------------------------------------------------------------------------
Investeeringud (miljonites) 10,6 2,5 328,4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv** 669 882 040 669 882 040
--------------------------------------------------------------------------------
Aktsiakasum 0,05 0,07 -17,9%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 2 561 257 2 718 778 -5,8%
--------------------------------------------------------------------------------
Kaubaveo ühikute arv 76 830 76 043 1,0%
--------------------------------------------------------------------------------
Töötajate keskmine arv 7 181 7 185 -0,1%
--------------------------------------------------------------------------------
------------------------------------------- -------
------------------------------
30.09.2014 30.06.2014
--------------------------------------------------------------------------------
Varad 1 688,4 1 712,0 -1,4%
--------------------------------------------------------------------------------
Intressi kandvad kohustused (miljonites) 770,9 782,0 -1,4%
--------------------------------------------------------------------------------
Netovõlg (miljonites) 704,8 711,8 -1,0%
--------------------------------------------------------------------------------
Omakapital kokku (miljonites) 770,1 733,9 4,9%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Omakapitali määr 45,6% 42,9%
--------------------------------------------------------------------------------
Netovõla EBITDA suhe 5,1 4,8
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv** 669 882 040 669 882 040 0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta 1,15 1,01 4,9%
--------------------------------------------------------------------------------
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 01.07.2014- 01.07.2013- 01.01.2014- 01.01.2013-
eurodes)
30.09.2014 30.09.2013 30.09.2014 30.09.2013
================================================================================
Müügitulu 262,656 278,391 697,325 718,001
Müüdud kaupade ja teenuste -193,085 -198,574 -565,007 -564,968
kulud
Brutokasum 69,571 79,817 132,318 153,033
--------------------------------------------------------------------------------
Turustuskulud -15,084 -15,926 -46,883 -49,642
Halduskulud -10,296 -10,068 -35,573 -32,469
Muud äritulud 462 277 987 1,085
Muud ärikulud -18 -12 -358 -141
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 44,635 54,088 50,491 71,866
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 3,270 4,577 7,137 15,790
Finantskulud -11,747 -14,642 -33,384 -42,965
Kasum/-kahjum enne tulumaksu 36,158 44,023 24,244 44,691
--------------------------------------------------------------------------------
Tulumaks -8 16 -5,367 -8,903
Aruandeperioodi 36,150 44,039 18,877 35,788
puhaskasum/-kahjum
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Summad, mida saab edaspidi
ümber liigitada kasumisse
või kahjumisse
Valuutakursi vahed 36 3 44 80
välisettevõtetest
Perioodi muu 36 3 44 80
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum 36,186 44,042 18,921 35,868
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum aktsia kohta (eurodes
ühe aktsia kohta)
- tava 0.05 0.07 0.03 0.05
- lahustatud 0.05 0.07 0.03 0.05
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata, tuhandetes eurodes)
VARAD 30.09.2014 31.12.2013
================================================================================
Käibevara
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid 66,105 72,012
Nõuded ostjate vastu ja muud nõuded 42,712 40,544
Ettemaksed 7,214 3,185
Tuletisinstrumendid 0 679
Varud 28,380 33,457
Käibevara kokku 144,411 149,877
--------------------------------------------------------------------------------
Põhivara
--------------------------------------------------------------------------------
Investeeringud kapitaliosaluse meetodil kajastatud 262 262
investeeringuobjektidesse
Muud finantsvarad 253 385
Edasilükkunud tulumaksuvara 17,413 17,413
Kinnisvarainvesteering 300 300
Materiaalne põhivara 1,470,224 1,495,895
Immateriaalne põhivara 55,545 57,925
---------------------------------------------------------
Põhivara kokku 1,543,997 1,572,180
--------------------------------------------------------------------------------
---------------------------------------------------------
VARAD KOKKU 1,688,408 1,722,057
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
================================================================================
Lühiajalised kohustused
--------------------------------------------------------------------------------
Intressikandvad võlakohustused 136,933 106,014
Võlad tarnijatele ja muud võlad 86,170 97,387
Ettemakstud tulud 35,879 28,315
Tuletisinstrumendid 25,297 30,888
Lühiajalised kohustused kokku 284,279 262,604
--------------------------------------------------------------------------------
Pikaajalised kohustused
-----------------------
--------------------------------------------------------------------------------
Intressikandvad võlakohustused 633,949 688,327
Muud kohustused 61 63
--------------------------------------------------------------------------------
Pikaajalised kohustused kokku 634,010 688,390
--------------------------------------------------------------------------------
Kohustused kokku 918,289 950,994
--------------------------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404,290 404,290
Ülekurss 639 639
Reservid 72,557 70,111
Jaotamata kasum 292,633 296,023
--------------------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 770,119 771,063
--------------------------------------------------------------------------------
OMAKAPITAL KOKKU 770,119 771,063
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1,688,408 1,722,057
--------------------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata, tuhandetes eurodes) 01.01.2014 - 01.01.2013-
30.09.2014 30.09.2013
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum 18,877 35,788
Korrigeerimised 92,806 95,069
Äritegevusega seotud nõuete ja ettemaksete muutused -6,165 -14,128
Varude muutused 5,077 776
Äritegevusega seotud kohustuste muutused -3,973 2,720
Makstud tulumaks 108 -200
--------------------------------------------------------------------------------
106,730 120,025
--------------------------------------------------------------------------------
------------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse põhivara -30,919 -38,332
soetamine
Laekumised materiaalse põhivara müügist 180 270
Saadud intressid 78 17
--------------------------------------------------------------------------------
-30,661 -38,045
--------------------------------------------------------------------------------
------------------------------------------------------
Rahavood finantseerimistegevusest
Saadud laenud 0 24,000
Laenude tagasimaksed -59,946 -168,230
Kasutatud arvelduskrediidi muutus 31,069 0
Laekumised võlakirjadest 0 115,487
Kapitalirendimaksete tasumine -54 -4
Makstud intressid -24,574 -22,472
Tuletisinstrumentidega seotud maksed -3,033 -3,374
Laenudega seotud tehingukulude tasumine 0 -567
Makstud dividendid -20,096 -33,494
Tulumaks makstud dividendidelt -5,342 -8,903
-81,976 -97,557
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU
--------------------------------------------------------------------------------
------------------------------------------------------ ------------
Raha ja raha ekvivalendid
- perioodi alguses 72,012 65,600
- suurenemine (+) / vähenemine (-) -5,907 -15,577
--------------------------------------------------------------------------------
- perioodi lõpus 66,105 50,023
--------------------------------------------------------------------------------
Harri Hanschmidt
Finantsosakonna juhataja
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 2014 financial year
Teade
Tallinn, 2014-11-13 08:50 CET (GLOBE NEWSWIRE) --
Q3 results of the 2014 financial year
In the third quarter (1 July - 30 September) of the 2014 financial year AS
Tallink Grupp and its subsidiaries’ (the Group) carried nearly 2.6 million
passengers which is 5.8% less compared to the same period last year. The number
of cargo units transported increased by 1.0% and the number of passenger
vehicles transported decreased by 3.7% for the same period as last year.
The Group’s consolidated revenue in the third quarter was EUR 262.7 million,
being 5.7% or EUR 15.7 million less than a year ago. In the third quarter of
the 2014 financial year the Group’s gross profit amounted to EUR 69.6 million
and EBITDA to EUR 64.0 million being respectively EUR 10.2 million and EUR 8.6
million less compared to the same period last year.
The unstable macro-economic situation in Europe has had a negative impact to
the Group’s operations. The decline in the passenger volume from the Russian
market continuous to be visible, decreasing by 25% in the third quarter,
compared to the same period last year.
The Group has been working for a smoother transition facing the sulphur
regulations and one of the goals has been to reduce fuel consumption by
optimising our current operations, therefore several re-routings were made: the
cruise ferry Silja Europa was chartered out, the cruise ferry Baltic Queen
changed to the Tallinn-Helsinki route and the cruise ferry Romantika changed to
Tallinn-Stockholm route, leaving the Riga-Stockholm route with the cruise ferry
Isabelle as the only vessel. Majority of the decline of the third quarter
results was a direct one-off effect related to the re-routing of the vessels,
chartering out Silja Europa and the Silja Symphony docking. These changes in
the operations are a good reference of the flexibility of our business and
ensure that we are better prepared for the upcoming year.
In the third quarter the Estonia-Finland route showed a slight decline with
passenger’s numbers decreasing by 3.3%, cargo units transported increased by
11.5% and the sales numbers remained on the last year’s level. The results were
affected by a competitor bringing more capacity to the Tallinn-Helsinki route.
The Finland-Sweden route showed a decline with passenger’s numbers decreasing
by 5.5%, cargo units transported decreased by 11.0%, the sales numbers
decreased by 7.4%. The results were affected by Silja Symphony being out of
operations in September. The Latvia-Sweden route showed a decline with
passenger’s numbers decreasing by 23.3%, cargo units transported decreased by
42.5%, the sales numbers decreased by 24.5%. The results were affected by
Romantika changing to Tallinn-Stockholm route, leaving Isabelle as the only
operating vessel on the route.
In the third quarter the charter revenue increased by 58.9% or EUR 5.2 million,
this is a result of more vessels being in charter and is expected to have a
positive effect to the profitability in the forthcoming quarters. The total
number of vessels currently chartered out is six, while last year at the same
time four vessels were chartered out.
While pricing the cargo services for next year the upcoming rise in the fuel
price related to the switch to the low sulphur fuel has been taken into
account. Pricing of the passenger service will depend on market demand,
competition and seasonality.
The unaudited net profit for the third quarter of the 2014 financial year was
EUR 36.2 million or EUR 0.05 per share compared to the net profit of EUR 44.0
million or EUR 0.07 per share in the same period last year.
The total liquidity, cash and unused credit facilities at the end of the third
quarter were EUR 66.7 million providing a strong position for sustainable
operations. At the end of the third quarter 2014 the Group had EUR 66.1 million
in cash and equivalents and the total of unused credit lines were at EUR 0.5
million.
Q3 KEY FIGURES 2014 2013 Change
July-Sep July-Sep
----------------------------------------------------------
Revenue EUR million 262.7 278.4 -5.7%
--------------------------------------------------------------------------------
Gross profit EUR million 69.6 79.8 -12.8%
--------------------------------------------------------------------------------
Gross margin (%) 26.5% 28.7%
--------------------------------------------------------------------------------
EBITDA EUR million 64.0 72.5 -11.8%
--------------------------------------------------------------------------------
EBITDA margin (%) 24.4% 26.1%
--------------------------------------------------------------------------------
Net profit for the EUR million 36.2 44.0 -17.9%
period
--------------------------------------------------------------------------------
Net profit margin (%) 13.8% 15.8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation and EUR million 19.3 18.5 4.8%
amortization
--------------------------------------------------------------------------------
Investments EUR million 10.6 2.5 328.4%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of ordinary shares 669 882 040 669 882 040
outstanding
--------------------------------------------------------------------------------
Earnings per share EUR 0.05 0.07 -17.9%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2 561 257 2 718 778 -5.8%
--------------------------------------------------------------------------------
Number of cargo units 76 830 76 043 1.0%
--------------------------------------------------------------------------------
Average number of 7 181 7 185 -0.1%
employees
--------------------------------------------------------------------------------
----------------------------------------------- -------
--------------------------
30.09.2014 30.06.2014
--------------------------------------------------------------------------------
Total assets EUR million 1 688.4 1 712.0 -1.4%
--------------------------------------------------------------------------------
Interest-bearing EUR million 770.9 782.0 -1.4%
liabilities
--------------------------------------------------------------------------------
Net debt EUR million 704.8 711.8 -1.0%
--------------------------------------------------------------------------------
Total equity EUR million 770.1 733.9 4.9%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Equity ratio (%) 45.6% 42.9%
--------------------------------------------------------------------------------
Net debt to EBITDA 5.1 4.8
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of ordinary 669 882 040 669 882 040 0%
shares outstanding1
--------------------------------------------------------------------------------
Shareholders’ equity per EUR 1.15 1.01 4.9%
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 01.07.2014- 01.07.2013- 01.01.2014- 01.01.2013-
euros)
30.09.2014 30.09.2013 30.09.2014 30.09.2013
================================================================================
Revenue 262,656 278,391 697,325 718,001
Cost of sales -193,085 -198,574 -565,007 -564,968
Gross profit 69,571 79,817 132,318 153,033
--------------------------------------------------------------------------------
Marketing expenses -15,084 -15,926 -46,883 -49,642
Administrative expenses -10,296 -10,068 -35,573 -32,469
Other income 462 277 987 1,085
Other expenses -18 -12 -358 -141
--------------------------------------------------------------------------------
Result from operating 44,635 54,088 50,491 71,866
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 3,270 4,577 7,137 15,790
Finance costs -11,747 -14,642 -33,384 -42,965
Profit/-loss before income 36,158 44,023 24,244 44,691
tax
--------------------------------------------------------------------------------
Income tax -8 16 -5,367 -8,903
--------------------------------------------------------------------------------
Net profit/-loss for the 36,150 44,039 18,877 35,788
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Items that may be
reclassified to profit or
loss
Exchange differences on 36 3 44 80
translating foreign
operations
Other comprehensive 36 3 44 80
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive 36,186 44,042 18,921 35,868
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Earnings per share (in EUR
per share)
- basic 0.05 0.07 0.03 0.05
- diluted 0.05 0.07 0.03 0.05
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of euros)
ASSETS 30.09.2014 31.12.2013
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 66,105 72,012
Trade and other receivables 42,712 40,544
Prepayments 7,214 3,185
Derivatives 0 679
Inventories 28,380 33,457
Total current assets 144,411 149,877
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in equity-accounted investees 262 262
Other financial assets 253 385
Deferred income tax assets 17,413 17,413
Investment property 300 300
Property, plant and equipment 1,470,224 1,495,895
Intangible assets 55,545 57,925
---------------------------------------------------------
Total non-current assets 1,543,997 1,572,180
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,688,408 1,722,057
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 136,933 106,014
Trade and other payables 86,170 97,387
Deferred income 35,879 28,315
Derivatives 25,297 30,888
Total current liabilities 284,279 262,604
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
--------------------------------------------------------------------------------
Interest bearing loans and borrowings 633,949 688,327
Other liabilities 61 63
--------------------------------------------------------------------------------
Total non-current liabilities 634,010 688,390
--------------------------------------------------------------------------------
TOTAL LIABILITIES 918,289 950,994
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,290 404,290
Share premium 639 639
Reserves 72,557 70,111
Retained earnings 292,633 296,023
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 770,119 771,063
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 770,119 771,063
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,688,408 1,722,057
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of euros) 01.01.2014 - 01.01.2013-
30.09.2014 30.09.2013
Cash flows from operating activities
Net profit/-loss for the period 18,877 35,788
Adjustments 92,806 95,069
Changes in receivables and prepayments related to -6,165 -14,128
operating activities
Changes in inventories 5,077 776
Changes in liabilities related to operating -3,973 2,720
activities
Income tax paid/repaid 108 -200
--------------------------------------------------------------------------------
106,730 120,025
--------------------------------------------------------------------------------
------------------------------------------------------
Cash flow used for investing activities
Purchase of property, plant and equipment and -30,919 -38,332
intangible assets
Proceeds from disposals of property, plant and 180 270
equipment
Interest received 78 17
--------------------------------------------------------------------------------
-30,661 -38,045
--------------------------------------------------------------------------------
------------------------------------------------------
Cash flow from (+)/ used for (-) financing activities
Proceeds from loans 0 24,000
Redemption of loans -59,946 -168,230
Change in overdraft 31,069 0
Proceeds from bonds 0 115,487
Repayment of finance lease liabilities -54 -4
Interest paid -24,574 -22,472
Payments for settlement of derivatives -3,033 -3,374
Payment of transaction costs related to loans 0 -567
Dividends paid -20,096 -33,494
Income tax on dividends paid -5,342 -8,903
-81,976 -97,557
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW -5,907 -15,577
--------------------------------------------------------------------------------
------------------------------------------------------ ------------
Cash and cash equivalents:
- at the beginning of period 72,012 65,600
- increase (+) / decrease (-) -5,907 -15,577
--------------------------------------------------------------------------------
Cash and cash equivalents at the end of period 66,105 50,023
--------------------------------------------------------------------------------
Harri Hanschmidt
Head of the Finance Department
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]