In the first quarter of the 2016 financial year AS Tallink Grupp and its subsidiaries carried 2.0 million passengers which is 8.9% more compared to the first quarter last year. The Group’s unaudited revenue for the first quarter increased by EUR 2.7 million or 1.4% to the total of EUR 192.8 million. Unaudited EBITDA decreased by EUR 3.2 million or 16.3% to the total of EUR 16.3 million, unaudited net result improved by EUR 1.3 million or 9.9% compared to the same period last year and net loss amounted to EUR 12.0 million.
In the first quarter, which is also the low season, the number of passengers increased in all operated routes. The Group also increased the total revenue mainly from higher on-board sales despite less departures due to maintenance and lower revenue from the chartering activity. Compared to the same period last year the first quarter result was affected by noticeably lower revenues from chartering related to the sale of vessels Regina Baltica and Silja Festival, and termination of cruise ferry Silja Europa charter. However, the Group was able to exceed the reduction of charter revenues with higher revenues from main routes. The first quarter profitability was influenced also by onetime expenses from cruise ferry Silja Europa start of operations on Estonia-Finland route. The fast ferry Superstar sale and charter back transaction will impact the result of the current financial year. As a result of these operational changes, in the first quarter there are lower amortization and finance costs but higher operating costs, which resulted lower EBITDA and improved net result.
The revenue from the leases of vessels has reduced by EUR 6.8 million or 43.2% in the first quarter due to fewer ships are chartered out, compared to the same period last year.
In the first quarter of the 2016 financial year the Group’s gross profit amounted to EUR 26.5 million which is on level compared to the same period last year and EBITDA decreased by EUR 3.2 million to the total of EUR 16.3 million. The first quarter profitability was impacted by lower total fuel cost but also higher marketing costs, cost of charter of the fast ferry Superstar and onetime costs related to changes in operations. Onetime costs from operations were related to preparations of the cruise ferry Silja Europa return to the route and launching of the Group operated Tallink Logistics Center.
The unaudited net loss for the first quarter of the 2016 financial year was EUR 12.0 million or EUR 0.018 per share compared to the net loss of EUR 13.3 million or EUR 0.020 per share in the same period last year.