EU – Baltic States, Port, Tourism, Transport

The unaudited net profit for the second quarter of the 2014 financial year was EUR 6.1 million or EUR 0.01 per share compared to the net profit of EUR 9.3 million or EUR 0.01 per share in the same period last year.

The group’s consolidated revenue in the second quarter was EUR 246.5 million, being 1.0% or EUR 2.6 million less than a year ago. In the second quarter of the 2014 financial year, the group’s gross profit amounted to EUR 51.0 million and EBITDA to EUR 41.1 million, being respectively EUR 6.0 million and EUR 5.7 million less compared to the same period last year.

In the second quarter (1 April – 30 June) of the 2014 financial year AS Tallink Grupp and its subsidiaries’ carried nearly 2.4 million passengers which is 0.5% more compared to the same period last year. The number of cargo units transported decreased by 1.0% and the number of passenger vehicles transported increased by 0.7% for the same period as last year.

The decline in the group’s results is related to maintenance and upgrade works on the vessels Star, Galaxy and Baltic Princess. In the second quarter there were less trips due to ships being out of the operation when compared to the same period in the last year.

Tallink said that the unstable macro-economic situation in Europe has had a negative impact to the group's operations. In the first six months of the financial year a noticeable drop in passenger numbers from the Russian market has been observed.