Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Port of Tallinn — Q4 2019 Earnings Presentation
15 slides from Tallinna Sadam As's earnings presentation, Feb 28, 2020
Slide 1: Results of 2019: Q4 and 12 months
Results of 2019 Q4 and 12 months Webinar 28.02.2020
Slide 2: Presenters
Presenters Valdo Kalm Marko Raid CEO CFO Chairman of the Management Board Member of the Management Board 2
Slide 3: Highlights of Q4 2019
Highlights of Q4 2019 • PAX record and cruise record – 10.64 mln PAX, incl. 660th cruise PAX • Agreement for building new cruise terminal • Opening 1st stage of passenger terminal D • Icebreaker Botnica charter for summer 2020 confirmed • All detail plans of the Old City Harbour areas initiated • Co
Slide 4: Trends in Q4 by business segments
Trends in Q4 by business segments • PASSENGERS – PAX numbers growth 1.2%, cruise annual record • CARGO – strong growth in liquid bulk (26%) and dry bulk (14%) • FERRY– increase in revenue due to indexation (as in 2018) • OTHER segment – MPSV Botnica ice management charter to Baffinland in Canada (as
Slide 5: Main influences in 2019
Main influences in 2019 • PAX record despite of the docks in Q1 • Muuga-Vuosaari line rapid development, incl. new vessel • Volatility and general decline of liquid bulk • Dry bulk growth, good grain season • Icebreaker Botnica longer charter period in northern Canada • Additional ferry for summer o
Slide 6: Cargo volume
Cargo volume Q4 12 months 6 +12.3% 25 5.6 -3.3% 5.0 0,4 0,1 20.6 5 19.9 0,1 20 0,6 0,5 1,9 1,3 1,8 0,6 4 3,9 1,1 15 4,5 Million tons Million tons 3 1,3 1,3 5,4 10 5,4 2 2,5 5 1 2,0 8,8 7,6 0 0 2018 Q4 2019 Q4 2018 2019 Liquid bulk Ro-Ro Dry bulk Containers General cargo Liquid bulk Ro-Ro Dry bulk Co
Slide 7: Passenger volume
Passenger volume Q4 12 months +1.2% 12000 +0.2% 2500 2314 7 10 619 10 639 12 2342 19 55 64 216 14 218 10000 638 660 11 85 70 2000 23 1009 35 933 114 9 36 8000 Thousand PAX Thousand PAX 1500 6000 1000 2040 2051 8797 8798 4000 500 2000 0 0 2018 Q4 2019 Q4 2018 2019 Tallinn-Helsinki Tallinn-Stockholm M
Slide 8: Results of the Group
Results of the Group In thousands Q4 2018 Q4 2019 +/- 2018 2019 +/- Revenue 29 572 30 005 1.5% 130 635 130 536 -0.1% Adjusted EBITDA 14 683 14 841 1.1% 74 380 74 292 -0.1% Adjusted EBITDA margin 49.7% 49.5% -0.2 56.9% 56.9% 0.0 Operating profit 9 011 9 081 0.8% 52 075 51 679 -0.8% Income tax 51 0 -1
Slide 9: Cash Flow and Financial Position
Cash Flow and Financial Position Financial position Cash Flow statement 700 In thousands 2018 2019 600 500 Cash from operating activities 57 113 63 419 368 377 400 Cash used in investing activities -12 325 -28 244 573 579 300 Free cash flow (FCF) 44 788 35 175 42 41 200 Cash from/used in financing a
Slide 10: Results by segments
Results by segments Q4 segments (mEUR) 12M segments (mEUR) Passenger H 5,6 10,4 Passenger H 32,8 49,8 5,2 10,1 32,4 49,9 Cargo H 5,2 10,4 Cargo H 22,2 40,1 5,8 10,7 24,1 41,7 Ferry 3,3 7,1 Ferry 13,9 30,8 3,0 6,9 13,0 30,1 Other 0,7 2,1 Other 5,3 9,8 0,6 1,9 4,8 8,9 0 2 4 6 8 10 12 0 10 20 30 40 50
Slide 11: Revenue generation
Revenue generation Passenger harbours Cargo harbours 60 50 50 60 50 50 42 10,1 10,4 40 40 40 10,0 10,4 MEUR MEUR 30 16,7 17,1 30 10,6 9,8 20 20 Total revenue 14,2 14,1 10,0 10,0 10 10 140 131 131 8,8 8,2 10,5 10,0 0 0 120 29,6 30,0 2018 2019 2018 2019 100 80 38,9 39,2 Ferry Other MEUR 60 40 12 9,8 4
Slide 12: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 40 30 32 33 24 25 22 30 5,2 5,6 5,8 20 5,2 MEUR MEUR 20 12,1 12,3 15 5,9 5,1 10 5,7 5,8 Total adj. EBITDA 10 9,6 9,7 5 80 74 74 5,5 5,2 6,7 6,1 0 0 14,7 14,8 2018 2019 2018 2019 60 24,0 23,7 Ferry Other MEUR 40 15 13 14 6 5 5 18,1 18,8 0,6 0,7 20 3
Slide 13: Tallinn City Hall comment
Tallinn City Hall comment • Adding value to the Old City Harbour real estate development • MOU, not agreement • Time horizon 5-10Y • Largest risk for port development is traffic management and needed port area • Preparing for competition, new opportunities/operators Initial vision of the Tallinn Cit
Slide 14: Q&A session
PORT OF @ TALLINN Q&A session
Slide 15: Thank You!
Thank You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee • portoftallinn