Estonia, Port, Tourism, Transport

International Internet Magazine. Baltic States news & analytics Tuesday, 25.09.2018, 20:53

Port of Tallinn nets EUR 26.8 mln in 9 months

BC, Riga, 14.11.2017.Print version
The net profit of the state owned Estonian port company Port of Tallinn in the first nine months of 2017 totaled 26.8 million euros, being 11.4% smaller than in the same period last year as a result of a bigger income tax liability, writes LETA/BNS.

The company's total revenue meanwhile grew to 99.3 million euros.


The reduction in net profit resulted from increases by respectively 3.3 million euros in the income tax paid on dividend and by 1 million euros in financial costs, it appears from the interim report.


Financial costs increased as a result of the completion of passenger ferries, the interest costs from the period of constriction of which were capitalized.


Sales revenue in the nine months totaled 83.3 million euros, marking an increase of 10.1% over the same period last year. Total revenue amounted to 99.3 million euros as a result of other revenue in the amount of 16 million euros. Total revenue increased by 29% year over year.


Freight handled by the ports of Port of Tallinn during the nine months totaled 14.3 million tons, 9% less than the amount handled in January-September 2016. The reduction was a result of smaller amounts of liquid cargoes handled, whereas in other cargoes a certain improvement was registered.


The number of passengers in the nine months grew by 4.3% to 8.2 million passengers. Increases were registered in passenger numbers on the Tallinn-Helsinki route, in cruise passengers, and on the Tallinn-Stockholm route. The passenger numbers do not include the passengers served by the subsidiary TS Laevad in ferry services between the mainland and Estonia's big western islands.


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