Net profit of Tallinna Sadam down 10% to EUR 32.8 mln in 2012

In 2012, net profit of AS Tallinna Sadam fell by 10% to EUR 32.8 mln. According to the company’s press center, consolidated unaudited sales revenue declined by 0.7% to EUR 88.6 mln. 

EBITDA fell by 1.2% to EUR 59.7 mln. The financial result is explained by the port’s lower cargo throughput and higher operating expenses (up EUR 2.5 mln, or 5.3%). However the company paid the record high dividends for 2012 - EUR 33.8 mln. 

AS Tallinna Sadam is a stevedoring company at the port of Tallinn. It was incorporated in 1996. The company’s only stakeholder is the Republic of Estonia. In 2012, the company’s throughput fell by 19% to 29.5 mln tons.