Estonia, EU – Baltic States, Port, Transport

International Internet Magazine. Baltic States news & analytics Monday, 23.05.2022, 05:05

The net profit of the Tallinn Port grew by over 20% in 2008

Juhan Tere, BC, Tallinn, 27.02.2009.Print version
EPL Online: the net profit earned by AS Tallinna Sadam during the financial year of 2008 grew by 81 million kroons to 417 million kroons, writes LETA.

The enterprise's sales revenue remained at the same level as in 2007, amounting to 1.17 billion kroons.

 

The financial results of the Port of Tallinn were positively affected by the biggest increase in the number of passengers in the company's history. The total number of passengers through the Port of Tallinn reached 7.25 persons. The factors that favored this trend were Estonia's accession to the Schengen visa area in December 2007, use of newer route vessels and growing popularity of the Baltic Sea region in the cruise tourism segment.

 

The adverse impact was had by the declining global trade volumes in the second half of 2008 as well as the abrupt decline in trade volumes that started in spring 2007 already.

 

The Port of Tallinn’s Chairman of the Supervisory Board Neinar Seli stated that the maintaining of the company's revenue base and growth in profits indicate, regardless of the decline in cargo volumes, that the enterprise has the ability to manage risks linked to the changed market environment and fruitful work of the management board in improving the company's efficiency.






Search site