Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q2 2024 Earnings Presentation
16 slides from Tallinna Sadam As's earnings presentation, Aug 12, 2024
Slide 1: Results of 2024 Q2 and 6 months
Results of 2024 Q2 and 6 months 12.08.2024
Slide 2: Main events in Q2 2024 (1)
Main events in Q2 2024 (1) • Stabile cargo volume • New shipping line X-press Feeder in Muuga • Winning the tender to provide ferry service in 2026–2033 • Icebreaker Botnica summer charter contract with Baffinland for 2024-2028 • Icebreaker Botnica summer charter contract with BP Exploration Operati
Slide 3: Main events in Q2 2024 (2)
Main events in Q2 2024 (2) • Talinna Sadam AGM and dividend payment • Unsecured loan agreement with Swedbank • Extension of powers of members of the Management Board in subsidiaries • Court rulings in relation to: - dispute with SLK and Väinamere Liinid - lawsuit against former members of the board
Slide 4: Trends in Q2 by business segments
Trends in Q2 by business segments • PASSENGERS – continuous growth in PAX numbers (+1%), slight increase in PAX vessel calls (+3%), revenue stayed at the same level. • CARGO – stabille cargo volumes (-1%), decrease in vessel calls (-6%), decline in revenue (-3%). Growth in containers and ro-ro, decr
Slide 5: Passenger volume
Passenger volume Q2 6 months 3 10000 4 3,5 +2,4% 3,6 10000 +0,7% 2,2 0,3 2,2 8000 0,3 8000 3 2 0,2 0,2 Million PAX Million Pax Ship calls Ship calls 6000 6000 2 Other 4000 3,1 3,2 4000 1 Cruise (trad) 1,9 1,9 1 2 819 2 745 Muuga-Vuosaari 2000 2000 1 378 1 419 Tallinn-Stockholm 0 0 0 0 Tallinn-Helsin
Slide 6: Cargo volume
Cargo volume Q2 6 months 4 1200 8 3000 -0,6% -0,3% 3,3 3,2 6,6 6,6 2500 1000 3 6 0,9 1,0 0,5 0,5 800 2000 Mixed Million tons 0,5 1,0 1,2 Ship calls Million tons 0,5 Ship calls Containers 2 600 4 1500 Dry bulk 1,7 1,8 400 3,4 3,5 1000 Ro-ro 379 357 1 2 700 686 Liquid bulk 200 500 Ship calls 0,5 0,3 1
Slide 7: Shipping volumes: ferry
Shipping volumes: ferry Q2 6 months 800 1 200 671 1 021 1 039 700 -0,5% 667 1 000 600 1,8% Thousand PAX/vechicles Thousand PAX/vechicles 800 500 400 600 316 493 507 312 300 1,3% 400 2,9% 200 200 100 0 0 2023 2024 2023 2024 Passengers Vehicles Passengers Vehicles
Slide 8: Shipping volumes: MPSV Botnica
Shipping volumes: MPSV Botnica Q2 6 months 60 100% 160 100% 54 145 90% 140 90% 50 80% 80% 80% 119 120 70% 70% 40 100 66% 60% 60% days 59% days 29 80 50% 30 50% 40% 60 40% 20 32% 30% 30% 40 20% 20% 10 20 10% 10% 0 0% 0 0% 2023 2024 2023 2024 Charter days Charter days % utilisation rate
Slide 9: Future outlook
Future outlook • Passenger business recovery continues • New ro-ro and container lines • Developers’ interest in offshore windfarms base harbour • Offshore windfarms base harbour development • Preparation of the real estate business model • Preparations for reducing the state's shareholding • Increa
Slide 10: Results of the Group Q2 and 6 months
Results of the Group Q2 and 6 months In thousands Q2 2024 Q2 2023 +/- 6M 2024 6M 2023 +/- Revenue 31 651 28 783 10.0% 59 582 57 189 4.2% Adjusted EBITDA 14 890 11 715 27.1% 27 606 25 279 9.2% Adjusted EBITDA margin 47.0% 40.7% 6.3 43.6% 44.2% -0.6 Operating profit 8 931 5 758 55.1% 15 932 12 555 26.
Slide 11: Results by business segments
Results by business segments Q2 and 6 months Q2 segments (mEUR) 6 months segments (mEUR) Passenger H 5,5 10,0 Passenger H 8,7 17,5 5,7 10,0 9,3 18,0 Cargo H 3,2 7,5 Cargo H 6,8 15,2 3,1 7,7 6,6 15,6 Ferry 4,2 9,6 Ferry 7,6 18,1 4,1 9,4 8,0 17,8 Other 1,9 4,6 Other 4,4 8,7 -1,2 1,7 1,4 5,8 -2 0 2 4 6
Slide 12: Cash Flow and Financial Position
Cash Flow and Financial Position Cash Flow statement Financial position 700 In thousands 6M 2024 6M 2023 +/– 600 Cash from operating 500 25 215 22 475 2 740 activities 368 378 EUR million 400 Cash used in investing -22 433 -4 128 -18 305 activities 564 576 300 Free cash flow (FCF) 2 782 18 347 -15 5
Slide 13: Revenue generation
Revenue generation Passenger harbours Cargo harbours Total revenue 50 50 150 40 38 40 8,8 31 MEUR 30 MEUR 30 130 8,0 20 10,7 18 20 15 117 7,2 10,0 10,0 7,7 7,4 110 10 10 8,0 7,5 7,9 7,8 28,0 0 0 90 2023 2024 2023 2024 MEUR 70 31,4 Ferry Other 60 50 50 37 50 40 40 28,8 31,7 8,5 MEUR MEUR 30 30 30 10,
Slide 14: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours Total adj. EBITDA 25 25 80 20 20 20 4,2 MEUR 15 MEUR 15 11 6,1 9 10 10 2,2 7 2,4 60 5 5,7 5,5 5 3,1 3,2 3,6 3,3 3,5 3,6 49 0 0 2023 2024 2023 2024 10 MEUR 40 Ferry Other 25 25 14 28 20 20 15 15 20 12 15 MEUR 15 MEUR 2,8 10 4,5 8 10 4,1 3 4 14 12 5
Slide 15: Q&A session
PORT OF & TALLINN Q&A session
Slide 16: Thank You!
Thank You! portoftallinn.com • ts.ee/en/investor • portoftallinn