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
5651
Manused
Esitamise kuupäev ja aeg
11.08.2016 09:50:00
Teate sisu eesti keeles
Pealkiri
AS-i Tallink Grupp 2016. majandusaasta auditeerimata konsolideeritud II kvartali vahearuanne
Teade
Tallinn, 2016-08-11 08:50 CEST (GLOBE NEWSWIRE) --
AS-i Tallink Grupp 2016. majandusaasta auditeerimata konsolideeritud II
kvartali vahearuanne
AS Tallink Grupp ja tema tütarettevõtted (edaspidi „Kontsern“) vedasid 2016.
majandusaasta teises kvartalis (1. aprill – 30. juuni) kokku 2,4 miljonit
reisijat, mida on 2,8% rohkem kui eelmise aasta teises kvartalis. Veetud
kaubaveoühikute arv kasvas 7,3% võrra ning veetud sõiduautode arv kasvas 3,8%
võrreldes eelmise aasta sama perioodiga.
Kontserni auditeerimata konsolideeritud müügitulu oli teises kvartalis 245,2
miljonit eurot, mida on 3,4% vähem võrreldes eelmise aasta sama perioodiga.
Kontserni teise kvartali auditeerimata kulumieelne ärikasum (EBITDA) oli 36,2
miljonit eurot, eelmise aasta samal perioodil 55,2 miljonit eurot ja
auditeerimata puhaskasum oli 9,8 miljonit eurot, eelmise aasta samal perioodil
28,5 miljonit eurot.
Kontserni põhitegevuse käive kasvas teises kvartalis tänu suuremale
pardamüügile, pardamüügi kasvu toetas suurem reisijate arv Kontserni
opereeritavatel laevadel. Teise kvartali kogu müügitulu ja ärikasum olid samas
madalamad võrreldes eelmise aasta sama perioodiga, kogutulemust mõjutasid
oluliselt madalamad prahtimise tulud seoses laevade Regina Baltica ja Silja
Festival müügiga ning Silja Europa prahilepingu lõppemisega. Käesoleva
majandusaasta tulemusele avaldab mõju ka reisilaeva Superstar
müügi-tagasiprahtimise tehing. Nende äritegevuses toimunud muutuste tulemusel
on teises kvartalis madalamad amortisatsiooni- ning intressikulud kuid kõrgemad
tegevuskulud.
Valmistudes uue veeldatud maagaasil (LNG) töötava kiirlaeva Megastar turule
tulekut järgmisel aastal, tõi Kontsern märtsis 2016 reisilaeva Silja Europa
Tallinna-Helsingi liinile. Reisilaeva Silja Europa liiniletoomine on
võimaldanud Kontsernil suurendada oma turuosa Tallinna-Helsingi liinil 2% võrra
57%-ni, võrreldes eelmise aasta teise kvartaliga. Teises kvartalis kasvas
Eesti-Soome vahelistel laevaliinidel müügitulu 3,4% võrreldes eelmise aasta
sama perioodiga. Müügitulu kasv tuli peamiselt suuremast reisijate arvust
seoses liinile toodud laevaga ja suuremast veetud kaubaveo ühikute mahust.
Eesti-Soome vaheliste laevaliinide segmendi teise kvartali kasumlikkus oli
madalam võrreldes eelmise aasta sama perioodiga seoses kiirlaeva Superstar
prahtimise kulu, reisilaeva Silja Europa madalama kasumlikkuse ja reisilaeva
Baltic Queen korrapäraste hooldustöödega.
Soome-Rootsi vaheliste laevaliinide teise kvartali müügitulu vähenes 3,7%
võrreldes eelmise aasta sama perioodiga. Liinidel reisis eelmise aastaga
võrreldes vähem reisijaid seoses noro viiruse levikuga 2016 juunikuu alguses.
Samal ajal kasvas Kontserni turuosa 1% võrra 53%-le, kuna liinidel oli rohkem
väljumisi. Transporditud kaubaveoühikute arv kasvas teises kvartalis 6,7%
võrra.
Eesti-Rootsi vahelise laevaliini müügitulu kasvas 7,1% võrra, tuginedes
suuremale pardamüügile ja suuremale veetud kaubaveoühikute mahule. Läti-Rootsi
laevaliinil teeniti veidi rohkem müügitulu võrreldes eelmise aasta teise
kvartaliga. Tuginedes suuremale müügitulule, paranes ka mõlema liini segmendi
kasum.
Teises kvartalis suurenes Kontserni restoranide ja poodide müügitulu 3,6
miljoni euro või 2,7% võrra võrreldes eelmise aasta sama perioodiga.
Restoranide ja poodide müügitulu kasvu toetas peamiselt suurem reisijate arv
Kontserni opereeritavatel laevadel. Teises kvartalis oli kõikidel liinidel
tuntav konkurentsi hinnasurve. Hoolimata suuremast reisijate arvust langes
keskmine reisija pileti hind ja piletite kogu müügitulu on võrreldav eelmise
aasta sama perioodiga.
Laevade prahtimise tulu vähenes teises kvartalis kokku 11,8 miljoni euro võrra
võrreldes eelmise aasta sama perioodiga, kuna välja oli prahitud vähem laevu.
Kontserni 2016. majandusaasta teise kvartali brutokasum vähenes võrreldes
eelmise aasta sama perioodiga 22,6% võrra ja oli 48,3 miljonit eurot,
kulumieelne ärikasum (EBITDA) vähenes 19,0 miljoni euro võrra ja oli 36,2
miljonit eurot. Teise kvartali kasumlikkust mõjutasid tulude struktuuri
muutusest tulenev käibe langus, väiksem kütusekulu kuid samas suuremad müügi-
ja turunduskulud, kiirlaeva Superstar prahtimise kulu ja suuremad laevade
opereerimise kulud.
Teises kvartalis vähenes põhivara amortisatsioon 0,5 miljoni euro võrra
peamiselt seoses kolme laeva müügiga 2015. aastal.
Kontserni netovõlg vähenes teises kvartalis 6,2 miljoni euro võrra ja oli kokku
466,2 miljonit eurot, netovõla ja EBITDA suhe oli teise kvartali lõpu seisuga
2,9.
Finantskulu suurenes kokku 4,3 miljoni euro võrra peamiselt valuuta- ja
intressi tuletisinstrumentide ümberhindlustest. Intressikulud vähenesid laenude
graafikujärgsetest ja laevade müügiga seotud ennetähtaegsetest tagasimaksetest.
Samas suurendasid intressikulusid võlakirjainvestoritele seoses 2016. aastal
suuremate omakapitali väljamaksete loa eest makstud ühekordsed tasud summas 1,5
miljoni eurot.
Kontserni auditeerimata puhaskasum oli 2016. majandusaasta teises kvartalis 9,8
miljonit eurot ehk 0,015 eurot aktsia kohta, eelmise aasta sama perioodi
puhaskasum oli 28,5 miljonit eurot ehk 0,043 eurot aktsia kohta.
Juunis 2016 otsustas aktsionäride korraline üldkoosolek maksta 2015.
majandusaasta kasumist dividendi 0,02 eurot aktsia kohta. Dividendid kokku
summas 13,4 miljonit eurot maksti välja 5. juulil 2016 (kolmas kvartal). Lisaks
dividendide jaotamisele, otsustas üldkoosolek vähendada aktsiaseltsi
aktsiakapitali kokku 40,2 miljoni euro võrra ehk 0,06 eurot aktsia kohta.
Lähtuvalt Äriseadustiku nõuetest ja hinnates Äriregistri registritoiminguteks
kuluda võivat aega makstakse aktsiakapitali vähendamine aktsionäridele välja
eeldatavalt 2016 detsembris.
Kontserni kogulikviidsus, raha ja kasutamata krediidilimiidid, oli teise
kvartali lõpus 123,6 miljonit eurot, mis hõlmab 92,3 miljonit eurot raha ja
31,3 miljonit eurot kasutamata krediidilimiite, tagades tugeva
finantspositsiooni jätkusuutlikuks opereerimiseks.
PÕHINÄITAJAD 2016 2015 muutus
aprill-juuni aprill-juuni
--------------------------------------------------------------------------------
EUR EUR
--------------------------------------------------------------------------------
Müügitulu (miljonites) 245,2 253,9 -3,4%
--------------------------------------------------------------------------------
Brutokasum (miljonites) 48,3 62,4 -22,6%
--------------------------------------------------------------------------------
Brutokasumi marginaal 19,7% 24,6%
,6%
--------------------------------------------------------------------------------
EBITDA (miljonites) 36,2 55,2 -34,5%
--------------------------------------------------------------------------------
EBITDA marginaal 14,7% 21,7%
--------------------------------------------------------------------------------
Aruande perioodi puhaskasum / -kahjum 9,8 28,5 -65,7%
(miljonites)
--------------------------------------------------------------------------------
Puhaskasumi marginaal korrigeeritud 4,0% 11,2%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Amortisatsioon (miljonites) 19,4 19,9 -2,6%
--------------------------------------------------------------------------------
Investeeringud (miljonites) 18,7 14,9 25,5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate kaalutud keskmine arv1 669 882 040 669 882 040 0,0%
--------------------------------------------------------------------------------
Aktsiakasum 0,01 0,04 -65,7%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Reisijate arv 2 423 057 2 356 039 2,8%
--------------------------------------------------------------------------------
Kaubaveo ühikute arv 84 392 78 659 7,3%
--------------------------------------------------------------------------------
Töötajate keskmine arv 7 281 6 903 5,5%
--------------------------------------------------------------------------------
--------------------------------------------- -------
----------------------------
30.06.2016 31.03.2016
--------------------------------------------------------------------------------
Varad (miljonites) 1 567,4 1 554,8 0,8%
--------------------------------------------------------------------------------
Intressi kandvad kohustused (miljonites) 558,5 564,1 -1,0%
--------------------------------------------------------------------------------
Netovõlg (miljonites) 466,2 472,4 -1,3%
--------------------------------------------------------------------------------
Omakapital kokku (miljonites) 807,7 812,3 -0,6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Omakapitali määr 51,5% 52,2%
--------------------------------------------------------------------------------
Netovõla EBITDA suhe 2,9 2,7
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiate arv1 669 882 040 669 882 040 0,0%
--------------------------------------------------------------------------------
Omakapital aktsia kohta 1,21 1,21 -0,6%
--------------------------------------------------------------------------------
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.
1 Aktsiate arv ei sisalda oma aktsiaid.
KONSOLIDEERITUDKOONDKASUMIARUANNE
(auditeerimata, tuhandetes 01.04.2016- 01.04.2015- 01.01.2016- 01.01.2015-
eurodes)
30.06.2016 30.06.2015 30.06.2016 30.06.2015
================================================================================
Müügitulu (Lisa 3) 245 234 253 862 438 055 444 015
Müüdud kaupade ja teenuste -196 972 -191 489 -363 315 -355 538
kulud
Brutokasum 48 262 62 373 74 740 88 477
--------------------------------------------------------------------------------
Müügi- ja turunduskulud -18 303 -16 481 -36 595 -31 716
Üldhalduskulud -14 259 -11 603 -26 277 -23 318
Muud äritulud 1 073 1 362 1 573 1 485
Muud ärikulud -12 -390 -28 -581
--------------------------------------------------------------------------------
Kasum/-kahjum äritegevusest 16 761 35 261 13 413 34 347
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud (Lisa 4) 1 766 1 621 4 362 7 297
Finantskulud (Lisa 4) -8 413 -4 000 -19 686 -20 608
Kasum/-kahjum enne tulumaksu 10 114 32 882 -1 911 21 036
--------------------------------------------------------------------------------
Tulumaks -333 -4 350 -335 -5 850
Aruandeperioodi 9 781 28 532 -2 246 15 186
puhaskasum/-kahjum
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Summad, mida saab edaspidi
ümber liigitada kasumisse
või kahjumisse
Valuutakursi vahed -107 28 -165 -54
välisettevõtetest
Perioodi muu -107 28 -165 -54
koondkasum/-kahjum kokku
--------------------------------------------------------------------------------
Perioodi koondkasum/-kahjum 9 674 28 560 -2 411 15 132
kokku
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum aktsia kohta (eurodes
ühe aktsia kohta)
- tava (Lisa 5) 0,015 0,043 -0,003 0,023
- lahustatud (Lisa 5) 0,015 0,043 -0,003 0,023
--------------------------------------------------------------------------------
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
(auditeerimata tuhandetes eurodes)
VARAD 30.06.2016 31.12.2015
================================================================================
Käibevara
--------------------------------------------------------------------------------
Raha ja raha ekvivalendid 92 275 81 976
Nõuded ostjate vastu ja muud nõuded 43 871 36 583
Ettemaksed 11 835 5 274
Tulumaksu ettemakse 1 426 1 224
Varud 39 330 29 197
Käibevara kokku 188 737 154 254
--------------------------------------------------------------------------------
Põhivara
--------------------------------------------------------------------------------
Investeeringud kapitaliosaluse meetodil kajastatud 350 350
investeeringuobjektidesse
Muud finantsvarad 365 308
Edasilükkunud tulumaksu vara 19 410 19 410
Kinnisvarainvesteeringud 300 300
Materiaalne põhivara (Lisa 7) 1 304 994 1 311 418
Immateriaalne vara (Lisa 8) 51 533 52 726
---------------------------------------------------------
Põhivara kokku 1 376 952 1 384 512
--------------------------------------------------------------------------------
---------------------------------------------------------
VARAD KOKKU 1 565 689 1 538 766
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
================================================================================
Lühiajalised kohustused
--------------------------------------------------------------------------------
Intressikandvad võlakohustused (Lisa 9) 122 148 81 889
Võlad tarnijatele ja muud võlad 101 354 88 480
Dividendivõlad (Lisa 12, 14) 13 398 0
Tulumaksukohustus 2 830 4 567
Ettemakstud tulud 42 316 28 906
Lühiajalised kohustused kokku 282 046 203 842
--------------------------------------------------------------------------------
Pikaajalised kohustused
-----------------------
--------------------------------------------------------------------------------
Intressikandvad võlakohustused (Lisa 9) 436 317 467 447
Tuletisinstrumendid (Lisa 6) 39 623 42 863
Muud kohustused 0 192
--------------------------------------------------------------------------------
Pikaajalised kohustused kokku 475 940 510 502
--------------------------------------------------------------------------------
Kohustused kokku 757 986 714 344
--------------------------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------------------------
Emaettevõtja aktsionäridele kuuluv omakapital
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsiakapital nimiväärtuses 404 290 404 290
Ülekurss 639 639
Reservid 66 962 65 083
Jaotamata kasum 335 812 354 410
--------------------------------------------------------------------------------
Emaettevõtte omanikele kuuluv omakapital kokku 807 703 824 422
--------------------------------------------------------------------------------
OMAKAPITAL KOKKU 807 703 824 422
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 1 565 689 1 538 766
--------------------------------------------------------------------------------
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
(auditeerimata tuhandetes eurodes) 01.01.2016- 01.01.2015-
30.06.2016 30.06.2015
Rahavood äritegevusest
Aruandeperioodi puhaskasum/-kahjum -2 246 15 186
Korrigeerimised 54 141 59 282
Äritegevusega seotud nõuete ja ettemaksete muutused -13 999 -10 917
Varude muutused -10 133 891
Äritegevusega seotud kohustuste muutused 26 228 14 097
Makstud tulumaks -2 138 -246
--------------------------------------------------------------------------------
51 853 78 293
--------------------------------------------------------------------------------
-------------------------------------------------------
Rahavood investeerimistegevusest
Materiaalse põhivara ja immateriaalse vara ostmine -31 325 -18 499
(Lisad 7, 8, 9)
Laekumised materiaalse põhivara müügist 121 25 001
Saadud intressid 35 41
--------------------------------------------------------------------------------
-31 169 6 543
--------------------------------------------------------------------------------
-------------------------------------------------------
Rahavood finantseerimistegevusest
Laenude tagasimaksed (Lisa 9) -35 458 -49 381
Arvelduskrediidi muutus (Lisa 9) 40 246 -2 644
Kapitalirendimaksete tasumine (Lisa 9) -49 -40
Makstud intressid -12 944 -14 744
Tuletisinstrumentidega seotud maksed -2 180 -2 290
-10 385 -69 099
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RAHAVOOD KOKKU 10 299 15 737
--------------------------------------------------------------------------------
------------------------------------------------------- ------------
Raha ja raha ekvivalendid
- perioodi alguses 81 976 65 311
- suurenemine (+) / vähenemine (-) 10 299 15 737
--------------------------------------------------------------------------------
- perioodi lõpus 92 275 81 048
--------------------------------------------------------------------------------
Veiko Haavapuu
Finantsdirektor
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel. +372 640 9914
E-mail [email protected]
Teate sisu inglise keeles
Pealkiri
AS Tallink Grupp Unaudited Consolidated Interim Report Q2 2016
Teade
Tallinn, 2016-08-11 08:50 CEST (GLOBE NEWSWIRE) --
AS Tallink Grupp Unaudited Consolidated Interim Report Q2 2016
In the second quarter (1 April - 30 June) of the 2016 financial year AS Tallink
Grupp and its subsidiaries’ (the Group) carried 2.4 million passengers which is
2.8% more compared to the second quarter last year. The number of cargo units
transported increased by 7.3% and the number of passenger vehicles transported
increased by 3.8% compared to same period as last year.
The Group’s unaudited consolidated revenue for the second quarter was EUR 245.2
million, which is 3.4% less compared to same period last year. The Group’s
unaudited EBITDA for the second quarter amounted to EUR 36.2 million compared
to EUR 55.2 million last year and unaudited net profit was EUR 9.8 million
compared to EUR 28.5 million in same period last year.
In the second quarter the revenue of core operations increased from higher
on-board sales which was supported by the larger number of passengers
travelling with the Group’s operated ships. The second quarter total revenue
and operating result were lower compared to the same period last year mainly
due to less revenue from chartering related to the sale of vessels Regina
Baltica and Silja Festival and termination of cruise ferry Silja Europa
charter. The fast ferry Superstar sale and charter back transaction affects the
result of the current financial year. As a result of these operational changes,
in the second quarter there are lower amortization and interest costs but
higher operating costs compared to same period last year.
In expectation of the new LNG fast ferry Megastar to the market next year, the
Group brought the cruise ferry Silja Europa to Tallinn-Helsinki route cruise
service in March 2016. This operational change has enabled the Group to
increase its market share on the route by 2% to 57%, compared to the second
quarter last year. The Estonia-Finland routes second quarter revenue increased
by 3.4% compared to same period last year. The increase is driven mainly by
growth in the passenger number and cargo volume from the added capacity,
compared to last year. The Estonia-Finland segment result for the second
quarter was lower compared to the same period last year due to the cost of
charter of the fast ferry Superstar, lower profitability of cruise ferry Silja
Europa and scheduled maintenance of cruise ferry Baltic Queen in the second
quarter.
The Finland-Sweden routes second quarter revenue decreased by 3.7%, compared to
same period last year. Fewer passengers travelled on the routes compared to
same period last year due to the spread of the noro virus in the beginning of
June 2016. However the Group’s market share increased by 1% to 53%, as there
was more departures compared to second quarter last year. The number of cargo
units transported on Finland-Sweden routes increased by 6.7% in the second
quarter.
The Estonia-Sweden route revenue increase of 7.1% was mainly driven by higher
on-board sales and higher cargo volume. The Latvia-Sweden route showed slightly
higher revenue compared with the second quarter last year. Driven by the higher
revenue, the second quarter segment result improved for both routes.
In the second quarter the Group’s total restaurants and shop sales increased by
EUR 3.6 million or 2.7%, compared to the same period last year. The sales
growth is supported mainly by the higher number of passengers travelling with
the Group’s operated ships. Throughout the second quarter there was a price
pressure from competition on all routes. Despite the increase in passenger
number the average ticket price per passenger was lower and the total revenue
from the ticket sale is on level with the second quarter last year.
The revenue from the leases of vessels and other revenues related to the leases
has reduced total by EUR 11.8 million in the second quarter due to fewer ships
are chartered out, compared to the same period last year.
In the second quarter of the 2016 financial year the Group’s gross profit
decreased by 22.6% and amounted to EUR 48.3 million, compared to the same
period last year, EBITDA decreased by EUR 19.0 million to the total of EUR 36.2
million. The second quarter profitability was impacted by lower revenue due to
the change in revenue structure; by lower total fuel cost but also higher
marketing costs, cost of charter of the fast ferry Superstar and higher ships
operating costs.
In the second quarter, the depreciation and amortization cost reduced by EUR
0.5 mainly due to the sale of three vessels in 2015.
In the second quarter the Group’s net debt decreased by EUR 6.2 million to a
total of EUR 466.2 million and the net debt to EBITDA ratio was a solid 2.9 at
the end of second quarter.
The total finance costs increased by EUR 4.3 million mainly from revaluation of
cross currency and interest derivatives. The lower interest cost from regular
repayment of loans and also repayment of loans related to sale of ships was
offset by one time cost of EUR 1.5 million related to the charges of
bondholders’ waiver allowing the Group to pay higher equity distributions in
2016.
The unaudited net profit for the second quarter of the 2016 financial year was
EUR 9.8 million or EUR 0.015 per share compared to the net profit of EUR 28.5
million or EUR 0.043 per share in the same period last year.
In June 2016 the shareholders annual general meeting decided to pay a dividend
of EUR 0.02 per share from financial year 2015 profits. The total dividend
amount of EUR 13.4 million was paid out on 05 July 2016 (third quarter). In
addition to dividend payment the annual general meeting decided the share
capital reduction in amount of EUR 40.2 million or EUR 0.06 per share.
According to the procedures set out in Commercial code and estimated time of
the proceedings in Commercial Registry the share capital reduction payments to
the shareholders will be made in December 2016.
The total liquidity, cash and unused credit facilities, at the end of the
second quarter was EUR 123.6 million providing a strong financial position for
sustainable operations. The Group had EUR 92.3 million in cash and equivalents
and the total of unused credit lines were at EUR 31.3 million.
Q2 KEY FIGURES
2016 2015 Change
Apr-Jun Apr-Jun
------------------------------------------------------
Revenue EUR million 245.2 253.9 -3.4%
--------------------------------------------------------------------------------
Gross profit EUR million 48.3 62.4 -22.6%
--------------------------------------------------------------------------------
Gross margin 19.7% 24.6%
--------------------------------------------------------------------------------
EBITDA EUR million 36.2 55.2 -34.5%
--------------------------------------------------------------------------------
EBITDA margin 14.7% 21.7%
--------------------------------------------------------------------------------
Net profit for the EUR million 9.8 28.5 -65.7%
period
--------------------------------------------------------------------------------
Net profit margin 4.0% 11.2%
adjusted
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Depreciation and EUR million 19.4 19.9 -2.6%
amortization
--------------------------------------------------------------------------------
Investments EUR million 18.7 14.9 25.5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Weighted average number of ordinary shares 669,882,040 669,882,040 0.0%
outstanding 1
--------------------------------------------------------------------------------
Earnings per share EUR 0.01 0.04 -65.7%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of passengers 2,423,057 2,356,039 2.8%
--------------------------------------------------------------------------------
Number of cargo 84,392 78,659 7.3%
units
--------------------------------------------------------------------------------
Average number of 7,281 6,903 5.5%
employees
--------------------------------------------------------------------------------
----------------------------------------------- -------
--------------------------
30.06.2016 31.03.2016
--------------------------------------------------------------------------------
Total assets EUR million 1,567.4 1,554.8 0.8%
--------------------------------------------------------------------------------
Interest-bearing EUR million 558.5 564.1 -1.0%
liabilities
--------------------------------------------------------------------------------
Net debt EUR million 466.2 472.4 -1.3%
--------------------------------------------------------------------------------
Total equity EUR million 807.7 812.3 -0.6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Equity ratio 51.5% 52.2%
--------------------------------------------------------------------------------
Net debt to EBITDA 2.9 2.7
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of ordinary shares outstanding 1 669,882,040 669,882,040 0.0%
--------------------------------------------------------------------------------
Shareholders’ equity EUR 1.21 1.21 -0.6%
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 01.04.2016- 01.04.2015- 01.01.2016- 01.01.2015-
euros)
30.06.2016 30.06.2015 30.06.2016 30.06.2015
================================================================================
Revenue (Note 3) 245,234 253,862 438,055 444,015
Cost of sales -196,972 -191,489 -363,315 -355,538
Gross profit 48,262 62,373 74,740 88,477
--------------------------------------------------------------------------------
Sales and marketing expenses -18,303 -16,481 -36,595 -31,716
Administrative expenses -14,259 -11,603 -26,277 -23,318
Other operating income 1,073 1,362 1,573 1,485
Other operating expenses -12 -390 -28 -581
--------------------------------------------------------------------------------
Result from operating 16,761 35,261 13,413 34,347
activities
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income (Note 4) 1,766 1,621 4,362 7,297
Finance costs (Note 4) -8,413 -4,000 -19,686 -20,608
Profit/-loss before income 10,114 32,882 -1,911 21,036
tax
--------------------------------------------------------------------------------
Income tax -333 -4,350 -335 -5,850
--------------------------------------------------------------------------------
Net profit/-loss for the 9,781 28,532 -2,246 15,186
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive
income/-expense
Items that may be
reclassified to profit or
loss
Exchange differences on -107 28 -165 -54
translating foreign
operations
Other comprehensive -107 28 -165 -54
income/-expense for the
period
--------------------------------------------------------------------------------
Total comprehensive 9,674 28,560 -2,411 15,132
income/-expense for the
period
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Earnings per share (in EUR
per share)
- basic (Note 5) 0.015 0.043 -0.003 0.023
- diluted (Note 5) 0.015 0.043 -0.003 0.023
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(unaudited, in thousands of euros)
ASSETS 30.06.2016 31.12.2015
================================================================================
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 92,275 81,976
Trade and other receivables 43,871 36,583
Prepayments 11,835 5,274
Income tax prepayment 1,426 1,224
Inventories 39,330 29,197
Total current assets 188,737 154,254
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Investments in equity-accounted investees 350 350
Other financial assets 365 308
Deferred income tax assets 19,410 19,410
Investment property 300 300
Property, plant and equipment (Note 7) 1,304,994 1,311,418
Intangible assets (Note 8) 51,533 52,726
---------------------------------------------------------
Total non-current assets 1,376,952 1,384,512
--------------------------------------------------------------------------------
---------------------------------------------------------
TOTAL ASSETS 1,565,689 1,538,766
--------------------------------------------------------------------------------
LIABILITIES AND EQUITY
================================================================================
Current liabilities
--------------------------------------------------------------------------------
Interest bearing loans and borrowings (Note 9) 122,148 81,889
Trade and other payables 101,354 88,480
Dividends (Note 12, 14) 13,398 0
Income tax liability 2,830 4,567
Deferred income 42,316 28,906
Total current liabilities 282,046 203,842
--------------------------------------------------------------------------------
Non-current liabilities
-----------------------
--------------------------------------------------------------------------------
Interest bearing loans and borrowings (Note 9) 436,317 467,447
Derivatives (Note 6) 39,623 42,863
Other payables 0 192
--------------------------------------------------------------------------------
Total non-current liabilities 475,940 510,502
--------------------------------------------------------------------------------
TOTAL LIABILITIES 757,986 714,344
--------------------------------------------------------------------------------
EQUITY
--------------------------------------------------------------------------------
Equity attributable to equity holders of the parent
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Share capital 404,290 404,290
Share premium 639 639
Reserves 66,962 65,083
Retained earnings 335,812 354,410
--------------------------------------------------------------------------------
Total equity attributable to equity holders of the 807,703 824,422
parent
--------------------------------------------------------------------------------
TOTAL EQUITY 807,703 824,422
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 1,565,689 1,538,766
--------------------------------------------------------------------------------
CONSOLIDATED CASH FLOW STATEMENT
(unaudited, in thousands of euros) 01.01.2016- 01.01.2015-
30.06.2016 30.06.2015
Cash flows from operating activities
Net profit/-loss for the period -2,246 15,186
Adjustments 54,141 59,282
Changes in receivables and prepayments related to -13,999 -10,917
operating activities
Changes in inventories -10,133 891
Changes in liabilities related to operating activities 26,228 14,097
Income tax paid -2,138 -246
--------------------------------------------------------------------------------
51,853 78,293
--------------------------------------------------------------------------------
-------------------------------------------------------
Cash flow from/used in investing activities
Purchase of property, plant and equipment and -31,325 -18,499
intangible assets (Notes 7, 8, 9)
Proceeds from disposals of property, plant and 121 25,001
equipment
Interest received 35 41
--------------------------------------------------------------------------------
-31,169 6,543
--------------------------------------------------------------------------------
-------------------------------------------------------
Cash flows used in financing activities
Repayment of loans (Note 9) -35,458 -49,381
Change in overdraft (Note 9) 40,246 -2,644
Payment of finance lease liabilities (Note 9) -49 -40
Interest paid -12,944 -14,744
Payments for settlement of derivatives -2,180 -2,290
-10,385 -69,099
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL NET CASH FLOW 10,299 15,737
--------------------------------------------------------------------------------
------------------------------------------------------- ------------
Cash and cash equivalents:
- at the beginning of period 81,976 65,311
- increase (+) / decrease (-) 10,299 15,737
--------------------------------------------------------------------------------
- at the end of period 92,275 81,048
--------------------------------------------------------------------------------
Veiko Haavapuu
Finance Director
AS Tallink Grupp
Sadama 5/7, 10111 Tallinn
Tel +372 640 9914
E-mail veiko.haavapuu@tallink