Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q2 2021 Earnings Presentation
16 slides from Tallinna Sadam As's earnings presentation, Aug 10, 2021
Slide 1: Results of 2021 Q2 and 6 months
Results of 2021 Q2 and 6 months Webinar 10.08.2021
Slide 2: Presenters
Presenters Valdo Kalm Marko Raid CEO CFO Chairman of the Management Board Member of the Management Board
Slide 3: Q2 2021 main events (1/2)
Q2 2021 main events (1/2) • Record volume of ro-ro and 10 year record of dry bulk cargo • The state decided to change the financing of the construction of a new ferry • Additional trips by the ferry Regula in summer 2021 • Voting on the resolutions of the annual general meeting on 18 – 24 May 2021 •
Slide 4: Q2 2021 main events (2/2)
Q2 2021 main events (2/2) • Extension of Margus Vihman’s authorities as a management board member of AS Tallinna Sadam • Silver level in Estonian Responsible Business Forum’s Corporate Social Responsibility Index, both Tallinna Sadam and TS Laevad • Stricter environmental measures adopted for vessel
Slide 5: Trends in Q2 by business segments
Trends in Q2 by business segments • PASSENGERS – growth in PAX numbers (+12%) and revenue (+23%) but still at a low level. No cruise, some lines closed • CARGO – growth in volumes (+9%); and revenue (+4%) coming from dry bulk and ro-ro • FERRY– stable revenue • OTHER segment – stable revenue and uti
Slide 6: COVID-19 main impacts
COVID-19 main impacts • Passenger H: strong downturn from March 2020, • Ferry: no significant financial impact reopening of cruise season and Tallinn-Stockholm • Other: no significant impact for Botnica. line in July 2021. Opening of new cruise terminal. Drop in Green Marine profitability, in 2021 p
Slide 7: Passenger volume
Passenger volume Q2 6 months 700 +12% 2 500 596 2 083 600 531 32 2 000 136 -54% 500 28 Thousand PAX Thousand PAX 400 1 500 300 969 545 1 000 1 883 489 200 500 878 100 0 0 2020 2021 2020 2021 Tallinn-Helsingi Tallinn-Stockholm Tallinn-Helsingi Tallinn-Stockholm Muuga-Vuosaari Tallinn-St Petersburg Mu
Slide 8: Cargo volume
Cargo volume Q2 6 months +9% 5893 +9% 6 000 12 000 11 168 5421 483 10 235 5 000 432 10 000 926 1259 888 947 2361 4 000 8 000 1714 Million tons Million tons 3 000 1349 1677 6 000 2682 3219 2 000 4 000 2555 2352 4716 4420 1 000 2 000 0 0 2020 2021 2020 2021 Liquid bulk Ro-Ro Dry bulk Liquid bulk Ro-Ro
Slide 9: Shipping volumes
Shipping volumes Ferries MPSV Botnica 900 853 100% 140 800 681 120 115 114 80% 700 Thousand PAX/vehicles 584 600 100 63% 60% 500 455 63% 80 days 400 377 351 297 60 40% 300 26% 26% 197 40 200 24 24 20% 100 20 0 0 0% Q2 2020 Q2 2021 6M 2020 6M 2021 Q2 2020 Q2 2021 6M 2020 6M 2021 passengers vehicles c
Slide 10: Results of the Group in Q2
Results of the Group in Q2 In thousands Q2 2021 Q2 2020 +/- 6M 2021 6M 2020 +/- Revenue 24 260 22 399 8.3% 49 248 50 289 -2.1% Adjusted EBITDA 11 132 10 222 8.9% 24 153 26 394 -8.5% Adjusted EBITDA margin 45.9% 45.6% 0.3 49.0% 52.5% -3.5 Operating profit 5 218 4 598 13.5% 12 439 15 113 -17.7% Income
Slide 11: Results by business segments in Q2
Results by business segments in Q2 Q2 segments (mEUR) 6 months segments (mEUR) Passenger H 2,5 5,7 Passenger H 4,3 10,7 1,8 4,6 5,9 12,5 Cargo H 5,4 9,8 Cargo H 11,0 19,4 5,2 9,4 12,0 18,7 Ferry 3,4 7,8 Ferry 6,4 14,6 3,5 7,4 6,7 14,4 -0,2 Other 0,9 Other 2,4 4,5 -0,3 0,9 1,8 4,6 -2 0 2 4 6 8 10 12
Slide 12: Cash Flow and Financial Position
Cash Flow and Financial Position Cash Flow statement Financial position 700 In thousands 6M 2021 6M 2020 +/– 600 Cash from operating 27 329 26 610 719 500 activities 375 364 Cash used in investing 400 –9 417 –13 257 –3 840 activities 591 587 300 Free cash flow (FCF) 17 912 13 353 4 559 41 47 200 Cas
Slide 13: Revenue generation
Revenue generation Passenger harbours Cargo harbours 35 50 29 40 30 40 25 6,2 10,6 30 MEUR MEUR 20 10,0 11 10,3 19 15 20 10 4,6 9,4 9,8 Total revenue 5,7 10 5 7,9 150 5,0 9,3 9,6 0 0 2020 2021 2020 2021 107 100 25,3 MEUR Ferry Other 31,8 49 40 10 9 50 22,4 24,3 30 8 1,6 30 27,9 25,0 6,9 0 MEUR 6 3,0
Slide 14: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 20 30 15 25 15 6,4 2,5 20 MEUR MEUR 10 7,0 11 6,8 10 Total adj. EBITDA 4 5,2 5,4 5 1,8 2,5 6,7 80 4,0 5,6 0 1,8 0 58 2020 2021 2020 2021 60 12 MEUR Ferry Other 40 20 20 6 24 4 0,2 20 10 15 14 11 4 16 13 3,1 2 MEUR 1,8 0 10 MEUR 4,3 6 2 2020 2021 2,
Slide 15: Q&A session
PORT OF @ TALLINN Q&A session
Slide 16: Thank You!
Thank You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee