AI assistant
Tallinna Sadam Earnings Release 2021
2227_ip_2021-05-10_7ded0ed1-35b3-4f60-a8f8-90e7a57f86a1.pdf
Earnings Release
Open in viewerOpens in your device viewer
Results of Q1 2021
Webinar 10.05.2021
Presenters
Valdo Kalm CEO Chairman of the Management Board
Marko Raid CFO Member of the Management Board
Q1 2021 main events (1/2)
- One year of pandemic restrictions
- MPSV Botnica 10-year agreement with the state (20.12.2022–20.04.2032)
- MPSV Botnica charter in summer 2021 confirmed
- Opening of parking house of passenger terminal D
- Dividend proposal EUR 0,077 per share, 20,251 mEUR in total (71% of 2020 profit)
Q1 2021 main events (2/2)
- Greenhouse gas emission study published
- Transition to green electricity consumption
- Tallink filed a claim for alleged overpricing (15 mEUR)
- Extension of Guldar Kivro's authorities as a management board member of TS Laevad
- New member in the nomination committee Merike Saks (ministry of finance)
- Nasdaq Baltic Award for best investor relations
Trends in Q1
by business segments
- PASSENGERS second wave restrictions and continuing decline in PAX numbers (–76%). No cruise, some lines closed.
- CARGO growth in volumes (+9.6%); and revenue (+2.9%) coming from dry bulk and ro-ro.
- FERRY– stable revenue.
- OTHER segment stable revenue, 100% utilization rate.
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: Continuous growth in volume, especially ro-ro and dry bulk in Q1
- Ferry: no significant financial impact
- Other: no significant impact for Botnica. Drop in Green Marine profitability, in Q1 partial recovery
Investments continue. Cooperation with institutions and partners, safeguard of employees.
Passenger and cargo volumes
Passengers
Cargo
Shipping volumes
Ferries
MPSV Botnica
Results of the Group
in Q1
| In thousands | Q1 2021 | Q1 2020 | +/– | % |
|---|---|---|---|---|
| Revenue | 24 988 | 27 890 | –2 902 | –10.4% |
| Adjusted EBITDA | 13 022 | 16 171 | –3 149 | –19.5% |
| Adjusted EBITDA margin | 52.1% | 58.0% | –5.9 | – |
| Operating profit | 7 221 | 10 514 | –3 293 | –31.3% |
| Profit for the period | 6 844 | 9 982 | –3 138 | –31.4% |
| Investments | 3 640 | 8 757 | –5 117 | –58.4% |
Results by business segments
in Q1
Q1 segments (mEUR)
Cash Flow and Financial Position
Cash Flow statement
| In thousands | Q1 2021 | Q1 2020 | +/– |
|---|---|---|---|
| Cash from operating activities |
15 015 | 18 208 | –3 193 |
| Cash used in investing activities |
–4 760 | –5 270 | –510 |
| Free cash flow (FCF) |
10 255 | 12 938 | –2 683 |
| Cash from/used in financing activities |
–3 491 | –3 516 |
25 |
| NET CASH FLOW | 6 764 | 9 422 | –2 658 |
| NET DEBT (at the end of the period) |
175 137 | 160 241 | 14 896 |
Financial position
Revenue generation
EBITDA generation
4,0 1,8 1,8 6,8 2,5 15 2 05 10 15 20 2020 2021 MEUR Passenger harbours
Ferry
Cargo harbours
Total adj. EBITDA
Q&A session
Thank You!
www.ts.ee • Marju Zirel (Head of IR), [email protected]
