Results of Q4 and 2020
Webinar 26.02.2021
Presenters
Valdo Kalm CEO Chairman of the Management Board
Marko Raid CFO Member of the Management Board
2020 highlights (1/2)
- COVID-19 pandemic restrictions
- 5 year record cargo volume
- Passenger terminal D and parking house
- Muuga cargo check-in building
- Dredging works in Paldiski South harbour
- Start of Rail Baltica freight terminal designing
2020 highlights (2/2)
- Hybrid ferry Tõll started service
- First ship connected to on-shore power
- Mapping ecological footprint (GHG emission)
- Environmental campaigns
- Investor days
- First electronic AGM
Recognitions 2020
Prolog: Supply Chain Maker 2020
Nasdaq Baltic Awards 2021:
"Investor Relations of the Year"
Estonian Digital Construction Cluster: "Act of the Year" and "Organization of the Year"
Trends in Q4 by business segments
- PASSENGERS second wave restrictions and continuing decline in PAX numbers (-73%). No cruise, some lines closed.
- CARGO growth in volumes (+2.5%) and revenue (2.1%), but lower margins.
- FERRY– stable revenue
- OTHER segment shorter summer charter period of MPSV Botnica and decline in revenue
COVID-19 main impacts
- PASSENGER H: strong downturn from March 2020, no cruise calls. Temporary restrictions for passenger movement, ro-ro cargo keeps ROPAX vessels moving
- CARGO H: 5 years record volume, stable ro-ro, temporary lines in Paldiski
- FERRY: no significant impact
- OTHER: no significant impact for Botnica, drop in Green Marine profitability
Investments continue. Hold-back in repairs and personnel costs
Passenger volume
Full year
Cargo volume
Shipping volumes
Ferries MPSV Botnica 464 416 2396 1976 217 223 1046 963 0 500 1000 1500 2000 2500 3000 2019 Q4 2020 Q4 2019 2020 Thousand PAX/vehicles passengers vehicles
Results of the Group
| In thousands |
Q4 2020 |
Q4
2019 |
+/- |
2020 |
2019 |
+/- |
| Revenue |
25 303 |
30 005 |
-15.7% |
107 358 |
130 536 |
-17.8% |
| Adjusted EBITDA |
12 121 |
14 841 |
-18.3% |
58 423 |
74 292 |
-21.4% |
| Adjusted EBITDA margin |
47.9% |
49.5% |
-1.6 |
54.4% |
56.9% |
-2.5 |
| Operating profit |
6 257 |
9 081 |
-31.1% |
35 562 |
51 679 |
-31.2% |
| Income tax |
0 |
0 |
- |
-4 913 |
-5 764 |
-14.8% |
| Profit/loss for the period |
5 723 |
8 457 |
-32.3% |
28 518 |
44 404 |
-35.8% |
| Investments |
8 212 |
10 671 |
-23.0% |
37 138 |
29 484 |
26% |
|
|
|
|
|
|
|
Cash Flow and Financial Position
Cash Flow statement
| In thousands |
2020 |
2019 |
|
| Cash from operating activities |
49 516 |
63 419 |
|
| Cash used in investing activities |
-30 033 |
-28 244 |
|
Free cash
flow
(FCF) |
19 483 |
35 175 |
|
| Cash from/used in financing activities |
-27 987 |
-42 555 |
|
| NET CASH FLOW |
-8 504 |
-7 380 |
|
NET DEBT (at the
end of the
period) |
184 901 |
172 663 |
|
|
|
|
|
Financial position
Results by segments
2,1 7,1 10,4 10,4 1,6 6,9 10,6 6,2 0,7 3,3 5,2 5,6 0,2 3,1 6,4 2,5 0 2 4 6 8 10 12 Other Ferry Cargo H Passenger H Q4 segments (mEUR) Adjusted EBITDA 2020 Adjusted EBITDA 2019 Revenue 2020 Revenue 2019
Full year segments (mEUR)
Revenue generation
Ferry
EBITDA generation
Q1 Q2 Q3 Q4
Q1 Q2 Q3 Q4
Ferry
3,2 3,2
2019 2020
Q1 Q2 Q3 Q4
05
10
MEUR
15
3,6 3,5
3,9 4,3
3,3 3,1
14 14
Passenger harbours
Q&A session
Thank You!
www.ts.ee • Marju Zirel (Head of IR), [email protected] portoftallinn