Estonia, EU – Baltic States, Tourism, Transport

In the first quarter (1 January- 31 March) of the 2013 financial year AS Tallink Grupp and its subsidiaries’ results were impacted by operational events. In the first quarter, which is low season, several of the Group’s vessels went through scheduled maintenance works resulting in fewer voyages and hence lower passenger and cargo volumes compared to the previous years when there have been typically less vessels out of service. In addition, the cruise ferries Silja Europa and Baltic Princess changed their operating routes resulting temporarily in fewer sailings due to the change.

The group carried 1.9 million passengers in the first quarter which is 4.5% less compared to the same period last year. The group’s consolidated revenue in the first quarter was EUR 190.6 million, being 1.7% or EUR 3.2 million less than a year ago. Through more effective dynamic pricing the average ticket revenue per passenger increased 11% in same period resulting in a 6% increase in total ticket revenue, despite the lower passenger volumes.

In the first quarter of 2013 financial year the group’s gross profit amounted to EUR 16.2 million and EBITDA to EUR 7.0 million being respectively EUR 2.6 million and EUR 3.2 million less compared to the same period last year. The group’s vessels sailed 3.5% trips less compared to the first quarter of 2012. Switching the cruise ferries Silja Europa and Baltic Princess on their routes required nearly EUR 1 million in one off costs.

In the first quarter positive development continued on the Latvia-Sweden route where revenue increased nearly 18% driven by 8% growth in passenger volume and increase in revenue per passenger.