Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — Q2 2022 Earnings Presentation
16 slides from Tallink Grupp As's earnings presentation, Jul 28, 2022
Slide 1: Q2 2022 Tallink Grupp AS Results Webinar
28 JULY 2022 Q2 2022 TALLINK GRUPP AS RESULTS WEBINAR
Slide 2: Presenters
PRESENTERS PAAVO NÕGENE MARGUS SCHULTS JOONAS JOOST CHAIRMAN OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD FINANCIAL DIRECTOR 2 TALLINK GRUPP
Slide 3: Tallink Grupp
TALLINK GRUPP The leading European provider of leisure and business travel and sea transportation services in the Baltic Sea region. OPERATIONS • Fleet of 14 vessels • Seven ferry routes (1 suspended) • Operating four hotels (1 closed) KEY FACTS STRONG BRANDS • Revenue of EUR 477 million in 2021 • S
Slide 4: 2022 Q2 Developments and Key Facts
2022 Q2 DEVELOPMENTS AND KEY FACTS OPERATING ENVIRONMENT • COVID-19 related restrictions lifted on home markets • Geopolitical situation and war in Ukraine since February • High inflation of global fuel prices and prices of food products and materials ACTIVITIES AND EVENTS • Romantika in long-term c
Slide 5: Q2 2022 Overview – COVID-19 & Travel Restrictions
Q2 2022 OVERVIEW – COVID-19 & TRAVEL RESTRICTIONS Q2 Selected Key Figures 2022 2021 Change (financials in million euros) Number of passengers 1 552 174 427 767 262.9% • Revenue EUR 206.0m (EUR +120.0m or 139.4% vs LY) Number of cargo units 109 380 91 990 18.9% — COVID-19 related travel restrictions
Slide 6: Recent Performance vs Pre-Pandemic
RECENT PERFORMANCE VS PRE-PANDEMIC PASSENGER VOLUME RELATIVE TO 2019 Selected Key Figures Last 12 80% 2021 2020 2019 (financials in million euros) months 70% Number of passengers 4 539 419 2 961 975 3 732 102 9 763 210 Number of cargo units 403 342 369 170 359 811 379 634 60% Revenue 649.3 476.9 442
Slide 7: Events After the Reporting Period & Outlook
EVENTS AFTER THE REPORTING PERIOD & OUTLOOK Pilt? • Short-term chartering of three cruise ferries: Victoria I, Silja Europa and Galaxy • Continuously exploring options for chartering out vessels • The new dual fuel (LNG, MGO) shuttle vessel MyStar is expected to be delivered and start operations on
Slide 8: Q2 Revenue Development by Operating Segments
Q2 REVENUE DEVELOPMENT BY OPERATING SEGMENTS (EUR MILLION) Restaurant and shop sales on-board and onshore increased mainly due to higher number of passengers 250 Increase in ticket sales attributable to increased demand and increased supply of overnight services 206.0 High competition in cargo trans
Slide 9: Q2 Revenue Development by Geographical Segments
Q2 REVENUE DEVELOPMENT BY GEOGRAPHICAL SEGMENTS (EUR MILLION) 250 206.0 No COVID-19 restrictions in 2022 vs high restrictions and limited operations in 2021. Overall increase in demand and increased 200 12.8 -1.1 supply of overnight services 57.8 Estonia-Finland The segment reflects operations of tw
Slide 10: Results: Quarterly Seasonality Breakdown
RESULTS QUARTERLY SEASONALITY BREAKDOWN PASSENGERS (MILLIONS) CARGO (TH. UNITS) 10 9.8 400 380 369 360 2.3 8 94 82 101 300 Q4 6 3.0 93 92 91 Q3 3.7 200 4 3.0 109 Q2 2.7 100 87 92 1.3 1.1 100 2 Q1 1.1 1.6 93 100 85 102 1.9 1.6 0 0.7 0 2019 2020 2021 2022 2019 2020 2021 2022 REVENUE (EUR MILLION) EBIT
Slide 11: The Dynamics of High Seasonality on the Profit Level
THE DYNAMICS OF HIGH SEASONALITY ON THE PROFIT LEVEL NET PROFIT BY QUARTERS (EUR MILLION) (1) 2019 net profit 50 2020 net loss -108 2021 net loss -57 2022 Q2 net result -1 70 50 30 55 10 15 5 6 -3 -1 -10 -25 -27 -24 -27 -24 -30 -34 -40 -30 -50 MOST OF THE PROFITS ARE TYPICALLY EARNED IN THE SUMMER,
Slide 12: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT (3) 2020 2021 Q2 2021 Q2 2022 (EUR million) Sales 443 477 86 206 Cost of sales (1) (486) (455) (95) (181) Marketing & administrative cost (1) (86) (75) (17) (22) Other operating items, net (2) 37 16 7 2 EBITDA 8 58 4 29 Margin (%) 1.8% 12.2% 5.1% 13.9% Net Result (108)
Slide 13: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT (1) (EUR million) 2020 2021 Q2 2021 Q2 2022 Operating cash flow (7) 59 30 45 Capital expenditure (100) (20) (3) (9) Asset disposal 0 1 0 3 Free cash flow (107) 40 27 38 Debt financing (net effect) 112 44 0 (44) Interests & other financial items (16) (19) (4) (5) Incr
Slide 14: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (EUR million) 31.12.2020 30.06.2021 31.12.2021 30.06.2022(2) Total assets 1 516 1 525 1 586 1 550 1500 Cash Other Intangibles liabilities Non-current assets 1 427 1 407 1 383 1 356 Current assets 89 118 203 195 Other Assets - of which cash 28 38 128 91 Sh
Slide 15: Debt Structure
DEBT STRUCTURE LONG TERM BANK LOANS Total EUR 636 million long-term bank loans and used overdrafts as — EUR 618 million as at 30.06.2022 at 30.06.2022 — 7 loan agreements outstanding: syndicated loans, 900 EUR million amortizing project and working capital loans 800 — Maturities 0.5-7 years 700 — EU
Slide 16: Thank You
THANK YOU AS Tallink Grupp Sadama 5, 10111, Tallinn, Estonia www.tallink.com/investors investor@tallink.ee