In the second quarter of 2025, AS Tallinna Sadam earned €29.5 million in sales revenue, down 6.8% from the same period last year, and posted a profit of €3.5 million, a 15.2% decrease, according to the company's release.
Adjusted EBITDA increased by 6.7% to €15.9 million, with the margin rising from 47.0% to 53.8%.
The company invested €8.4 million during the quarter, 18.8% more than a year earlier.
For the first six months of 2025, revenue decreased by 2.9% to €57.9 million, while profit grew by 10.7% to €10.3 million.
Adjusted EBITDA rose by 8.0% to €29.8 million, with the margin up from 46.3% to 51.5%. Investments totalled €12.0 million, down 52.0% compared to the previous year, mainly directed to the construction of an offshore wind quay at Paldiski South Harbour, vessel maintenance, IT, and quay improvements.
Passenger numbers grew by 3.8% and cargo volumes by 8.0% in the second quarter, while vessel calls increased by 2.1%.
The ferry segment saw a 2.4% increase in passengers and a 3.4% rise in vehicles, despite a 1.5% decline in trips. The icebreaker Botnica was chartered for 22% of the time, down 63% from a year earlier.
The company attributed the drop in revenue mainly to a 41.4% decline in charter fees, reflecting fewer charter days for Botnica and the absence of project-based work after the icebreaking season.
Other revenue streams, including vessel dues, cargo charges, and operating lease income, recorded growth.
Profit was negatively affected by an increase in the dividend income tax rate.
AS Tallinna Sadam is a public limited company registered in Estonia, operating as a major port authority and infrastructure manager in the Baltic Sea region. It oversees cargo and passenger port facilities in Estonia and maintains compliance with national maritime regulations.