• 2022 April 29 10:31

  Tallink Grupp’s unaudited consolidated revenue in QI'22 was EUR 106.1 million, up 97.5% YoY

  

  Tallink Grupp has published its 2022 Q1 financial results to the stock exchange.

  The group’s unaudited consolidated revenue in the first quarter (1 January – 31 March) of 2022 was EUR 106.1 million, up by 97.5% compared to Q1 2021 (total revenue in Q1 2021 was EUR 53.7 million). Despite increased passenger numbers and revenue compared to the same period in 2021, the company’s net loss in the first quarter of 2022 amounted to EUR 40.0 million (net loss of EUR 34.4 million in Q1 2021).  The group’s unaudited EBITDA in Q1 2022 was EUR -11.0 million (EUR -6.3 million in Q1 2021). Compared to Q1 2021 the fuel cost increased by EUR 17.1 million in the first quarter of 2022. 

  With high expectations for the end of the COVID pandemic and in preparation of the 2022 summer high season, the company carried out technical maintenance of several vessels in its fleet in Q1 2022 with the majority of the company’s EUR 8.9 million in investments in the quarter dedicated to the maintenance and repairs of its vessels (total investments in Q1 2021 amounted to EUR 4.2 million). 

  As at 31 March 2022, the Group’s cash and cash equivalents amounted to EUR 101.0 million (EUR 14.8 million at 31 March 2021) and the Group had EUR 123.4 million in unused credit lines (EUR 81.7 million at 31 March 2021). The total liquidity buffer (cash, cash equivalents and unused credit facilities) amounted to EUR 224.4 million (EUR 96.4 million at 31 March 2021).

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