• 2017 November 13 17:27

    Tallink Grupp makes 45.4m net profit in first nine months of 2017

    Tallink Grupp has announced its unaudited financial results for the third quarter and first nine months of 2017. 

    According to the Group’s unaudited 9-month interim statement, the Group has earned a EUR 45.4 million net profit in the first nine months, which is a 4.8 million euro (11.9%) increase on the same period last year. The Group’s unaudited revenue for the nine months increased by 3.2% to 734.1 million euros compared to the same period in 2016. The unaudited EBITDA also increased in the nine months compared to the same period in 2016 by almost 10 million euros and amounted to 129.5 million euros.

    Commenting on the results, Tallink Grupp’s Finance Director Veiko Haavapuu said: 
    „These are positive results for Tallink Grupp demonstrating a steady performance in a competitive market. There have been several factors influencing the financial result of the first nine months of 2017, such as the new LNG fast ferry Megastar starting to operate on the Tallinn-Helsinki route, the scheduled maintenance of five cruise ferries in the first quarter of 2017, a rise in carriage capacity on several Tallink Grupp operated routes after the rerouting of vessels in December 2016 and increased competition in the maritime traffic between Estonia and Finland, which has put pressure on ticket prices, to name but a few.”

    „Despite the competitive market, Tallink Grupp has seen a steady increase in overall passenger numbers and positive growth in cargo transportation from all operated routes. The strongest quarter in 2017 has been the third quarter, which is not surprising as it includes the tourism high season of July and August and follows the same pattern year on year. The third quarter of 2017, however, has been particularly positive as we reached a new monthly passenger record in July and the passenger figure for the whole third quarter saw an increase of 2%, which has also had a positive impact on the financial results for the quarter,“ Haavapuu added.

    In the third quarter of 2017, the Group’s unaudited net profit was EUR 47.8 million, 11.7% higher than in the same period in 2016. Third-quarter EBITDA increased by EUR 8.3 million to EUR 75.4 million. The Group’s third quarter growth was driven by a higher number of passengers and transported cargo units, attributable to increased capacity, and more optimal operating costs resulting from three vessels on the Tallinn – Helsinki route. On the other hand, the result was also impacted by a year-on-year rise in fuel costs. 

    In the third-quarter of 2017, the revenues from all core operational segments increased compared to the third quarter last year.  For example, the shops and restaurant revenue increased by EUR 3 million and ticket revenue by EUR 1.2 million, which was supported by the 2% increase in passenger numbers. The third-quarter cargo revenue increased by EUR 3.5 million (13.9%)  compared to same period last year, which is attributable to the increase in the number of transported cargo units in all geographical segments.

    „Our cargo transportation figures have seen the strongest growth among all our operational segments not only in the third quarter of 2017, but in the first nine months of the year as a whole with a EUR 10.1 million (13.1%) increase in revenue compared to the first nine months of 2016. This growth is strong testament to our continuous efforts to offer a flexible, affordable and efficient cargo service on all the different routes we operate.“ Haavapuu concluded. 

    AS Tallink Grupp is the leading passenger and cargo transportation service provider in the Northern region of the Baltic Sea. The company owns 16 vessels and operates under the brands of Tallink and Silja Line on 6 different routes. AS Tallink Grupp employs 7,000 people in the region and over 9.5 million passengers travelled on its ferries in 2016.




2017 November 22

08:07 Further SharpEye™ order for Pakistan Navy Submarine upgrade
07:30 Ekofish Group builds twin-rigger at Damen Maaskant Shipyards Stellendam

2017 November 21

18:24 Navios Maritime Holdings reports 3Q, 9 months financial results
18:19 Philly Shipyard delivers fourth and final product tanker to Kinder Morgan
17:59 Major ASW ship Vice Admiral Kulakov enters Norwegian Sea
17:37 Sokhna World Zone project presented to investors in Dubai
17:23 Mathilde Maersk rescues stranded fishermen
17:12 Tuco and Sea Machines unveil remote controlled prozero workboats
16:51 Sea Port of St.Peterburg completed another stage of machinery modernization
16:34 Hapag-Lloyd announces vessel delay and port omission on WAN service
16:27 MOL and joint PBCF developers attend 2017 Nikkei Global Environmental Technology Award ceremony
16:17 MMT starts offshore geophysical survey for AQUIND Interconnector
15:54 Gazprom and Shell discuss LNG projects and Nord Stream 2
15:35 IMO’s technical cooperation activities have received a boost of US$1.0 million
15:11 Kleven signs MoU with De Beers Marine Namibia
14:52 Djibouti Regional Training Centre equipped with modern computer-based training simulator
14:33 FESCO delivered equipment from Shanghai to Moscow for Chinese CRCC to construct the Moscow metro stations
14:14 Great Lakes takes delivery of Ellis Island, largest hopper dredge in the USA
13:42 State-of-the-art dredger launched with Wärtsilä propulsion system
13:28 Cummins to feature EPA Tier 4 QSK38 clean diesel engine at International Workboat Show
13:05 Russia’s General Board of State Expert Review approves Kola Yard project (photo)
12:23 EU NAVFOR confirms the names of the attacked vessels as Galerna III and MV Ever Dynamic
11:58 Assembling of Crimea Bridge’s motor vehicle part completed at one of the four sea sections (photo)
11:25 Lisbon, Portugal will host LPG Europe Summit in March 2018
11:00 RF Navy's Pacific Fleet warship detachment leaves Thailand
10:37 RadiantFleet announces agreement with Clearwater Ship Management
10:14 Brent Crude futures price up 0.13% to $62.30, Light Sweet Crude – up 0.12% to $56.49
09:53 Gazprom and Mitsubishi discuss cooperation prospects in LNG sector
09:30 NIBULON shipyard put into operation its new assembly and fabrication workshop
09:12 Baltic Dry Index up to 1,385 points

2017 November 20

18:06 Shipping must be economically sustainable if it is to deliver on environmental sustainability, ICS tells OECD
17:51 Port of Goole supports region’s green future
17:29 Government of Germany сontinues support to WMU
17:06 Sokhna World Zone project presented to investors in Dubai
16:44 Sovcomflot posts operating profit over 9M’17 rising by 50.5% to USD 131.2 million
16:18 New sugar terminal to be constructed at the Port of Gdansk
16:00 Wärtsilä to deliver high efficiency and low emissions for new Viking Line ferry
15:55 Azerbaijan Caspian Shipping Company expands its activities in foreign waters
15:30 IMO takes part in Green Ship Technology North America Conference
15:04 Cammell Laird issues EU worker statement
14:46 Port of Klaipeda (Lithuania) handled 35.12 mln t of cargo in 10M’17, up 5.5% Y-o-Y
14:29 National Fish Resources to invest RUB 3-4 bln in creation of a fishery cluster in the Kaliningrad Region
14:08 RS class: gas carriers “BORIS VILKITSKY” and “FEDOR LITKE” delivered to the customer
13:37 Average wholesale prices for М-100 HFO up to RUB 12,821 in RF spot market
13:14 Damen launches cutting-edge Fishery Research Vessel for Angolan Fisheries Ministry
13:01 Optimarin shakes up BWT sector with unique promise for shipowners
12:43 IMO’s Jan De Boer participated at the LNG Ship/Shore Interface Conference in London
12:22 International seminar on mutual cooperation between IMO, WMU and KMOU held in Busan, Republic of Korea
12:01 Maersk Line and Damco deliver a block train solution for Decathlon
11:36 JMSDF’s destroyer Hamagiri arrives in Vladivostok
11:12 Onezhsky Shipyard launches floating bridges built for a residential area in Petrozavodsk (photo)
10:50 Container throughput of port Hong Kong (China) up 7.7% to 17.26 mln TEUs in 10M’17
10:24 Brent Crude futures price down 2.09% to $45.08, Light Sweet Crude – down 0.16% to $56.62
10:05 Nonius Engineering supports “Hydraulic Engineering Structures of Water Transport” Congress as its Sponsor
09:43 Commercial Sea Port of Ust-Luga performs unique unloading operation (photo)
09:20 Baltic Dry Index up to 1,371 points
09:08 EU NAVFOR’s Italian ship Virginio Fasan chases and captures suspected pirates
08:18 First shipload of liquefied natural gas to Northern Finland delivered to Manga LNG terminal

2017 November 19

17:31 Wison signs MOU with Shanghai Electric for medium large floating LNG power solution
17:22 Tomini Shipping places order for three Kamsarmaxes