AS Tallink Grupp has published its audited annual report of the 2017 financial year.
In 2017, the Group carried a record number, a total of 9.8 million passengers, which is 3.2% more than in 2016. The number of cargo units transported increased by 11% compared to the previous financial year. The Group’s consolidated revenue amounted to EUR 967.0 million (EUR 937.8 million in 2016). EBITDA increased by EUR 8.9 million and amounted to EUR 158.3 million (EUR 149.5 million in 2016), net profit for the financial year was EUR 46.5 million or EUR 0.069 per share (EUR 44.1 million or EUR 0.066 per share in 2016).
The period’s biggest milestone for the Group was the launch of the new LNG-powered shuttle vessel Megastar. The ship carried more than 2 million passengers in its first year on the Tallinn-Helsinki route. This is the highest-ever number of passengers carried by any of the Group’s vessels on the Baltic Sea per year. Megastar improved the efficiency of the Group’s shuttle operations and the Group was able to increase the result of the Estonia – Finland segment despite tighter competition in the market.
The most positive development in 2017 was the growth of the cargo business. Cargo volumes increased in all geographical segments by 11.0% in total, while cargo revenues increased by 13.3% or EUR 13.8 million compared to the previous year and amounted to EUR 117.7 million. In order to be better positioned to serve our cargo customers and capture increasing cargo volumes, the cargo ship Sea Wind going in between Estonia and Finland, previously operating from Tallinn Old City Harbour, started operating from Muuga Harbour to Vuosaari in October.
The key highlights of the 2017 financial year were the following:
- All-time high annual passenger number and higher revenue
- New LNG fast ferry Megastar started shuttle service on the Tallinn - Helsinki route
- New passenger terminal opened in Helsinki
- Lower chartering revenues
- Scheduled maintenance of five ships during the Q1 low season
- Increased competition on the Tallinn – Helsinki route
- Lower operating costs from the termination of the charter of fast ferry Superstar
- Effects from the re-routing of vessels in December 2016
- Renovated cruise ferry Silja Europa returned to the Tallinn – Helsinki route
- Two ships on the Riga – Stockholm route
- Sale of two Superfast vessels in December 2017
- Group-wide ship renovation programme continued