Tallinna Sadam As · OMXTSE:TSM1T

Tallinna Sadam As — Investor Day (September 2022)

57 slides from Tallinna Sadam As's investor day presentation, Sep 14, 2022

  1. Slide 1: Investor Day "In the winds of the future"

    Investor Day “In the winds of the future” 14.09.2022

  2. Slide 2: Agenda

    Agenda • Andrus Ait, CFO Tallinna Sadam today • Valdo Kalm, CEO New business opportunities • Margus Vihman, CCO Offshore windfarms base at Paldiski • Ülo Eero, CEO of TS Shipping Offshore windfarms and shipping • Q&A • Tour in the cruise terminal

  3. Slide 3: Tallinna Sadam today

    Tallinna Sadam today Andrus Ait member of the management board/ CFO

  4. Slide 4: Where we operate

    Where we operate from harbours Ice-breaker Botnica to vessel operations Muuga Harbour Port of Tallinn doesn’t by far mean ports in the city limits Tallinn: of Tallinn. Old City Harbour & Old City Marina Port of Tallinn is a port complex with harbours Paldiski South Harbour located all over Estonia.

  5. Slide 5: Well balanced business profile

    Well balanced business profile Business segments PASSENGER HARBOURS CARGO HARBOURS International ferry lines, cruise, Cargo handling, PAX with ro-ro vehicles, industrial parks Tallinn Old City Harbour (main) Muuga Harbour Saaremaa Harbour Paldiski South Harbour OTHER FERRY Icebreaker Botnica Operati

  6. Slide 6: Revenue Structure & Main Customers

    Revenue Structure & Main Customers Passenger harbours Cargo harbours Revenue 2021 Regular lines Cruise Terminals Shipping lines 37% 26% (2) 9% 28% Adj. EBITDA 2021 Other Ferry 41% Botnica Ferry passengers 25% 23% Eesti Vabariik Republic of Estonia 11%

  7. Slide 7: Dividends

    Dividends Equity story Dividends paid (mln EUR) 120 500% 450% • Expectations of the State as the 100 105 397% 400% majority shareholder for continuous 350% stable dividends 80 300% 60 250% 200% DIVIDEND POLICY 40 144% 68% 150% 35 100% • starting 2021 at least 70% of net profit 20 30 71% 26 100% 20 5

  8. Slide 8: Number of passengers and ship calls

    12 9 000 10,6 10,6 10,6 8 000 10 1,0 1,0 0,9 7 000 8 6 039 5 898 6 111 6 000 5 679 Ship calls 5 451 Million PAX 5 000 6 4 000 4,3 8,8 8,8 8,8 3,5 4 0,1 2 833 3 000 0,2 2,8 2 000 0,2 2 4,0 3,0 2,5 1 000 0 0 2017 2018 2019 2020 2021 2022 6M Number of Tallinn-Helsinki Tallinn-Stockholm Muuga-Vuosaari p

  9. Slide 9: Cargo volume and ship calls

    25 7000 22,4 21,3 20,6 6000 19,9 20 19,2 6,5 5,6 5,3 5000 5,4 5,1 Ship calls 15 1,8 1,9 1,9 4000 Million tons 1,9 1,8 3,9 4,4 4,7 3000 10 9,5 4,1 4,5 3,5 2000 1677 1754 1743 1637 1 654 5 1,1 8,8 9,1 8,8 1,3 7,4 7,6 1000 760 Cargo 0 3,2 0 volume and 2017 2018 2019 2020 2021 2022 6K ship calls Liquid

  10. Slide 10: Shipping volumes

    Shipping volumes Ferry MPSV Botnica charter 3,0 300 100% 261 267 2,4 242 249 2,5 2,3 250 2,2 2,2 80% thousand 2,0 72% 73% 2,0 200 66% 68% 60% days 1,5 150 1,1 110 40% 1,0 1,0 1,0 1,0 1,0 1,0 100 30% 0,5 20% 0,5 50 0,0 0 0% 2017 2018 2019 2020 2021 2022 6M 2017 2018 2019 2020 2021 PAX Vehicles Charte

  11. Slide 11: Baltic Sea ports cargo turnover

    Baltic Sea ports cargo turnover 6 months Market volume 6M 2021 – 257.1 m tonnes; 6M 2022 – 259.8 m tonnes 70 60 58,4 50 Million tonnes 40 30,5 30,3 30 21,5 21,4 20 13,7 12,3 11,3 9,5 10 7,9 7,7 7,3 7,2 4,7 4,4 3,9 2,8 2,4 1,2 1,2 0,9 0,8 0,5 0,4 0,4 0,4 0,05 0 2021 2022

  12. Slide 12: Passenger flows

    Passenger flows 6 months Market volume 6M 2021 – 4.1 million PAX ; 6M 2022 – 11.8 million PAX 3500 3232 3110 3000 2793 2500 Thousand PAX 2000 1500 1145 1000 500 418 259 130 115 81 80 36 25 0 0 2021 2022

  13. Slide 13: Ukrainian war impact

    Ukrainian war impact • Direct impact on cargo business and restructuring of supply chains • Decrease in liquid bulk and fertilizer volumes related to Russia • New opportunities – increase in ro-ro and container volumes • Financial impact smaller than expected in 2022

  14. Slide 14: Revenue and profitability

    Revenue and profitability 140 100% 131 131 121 90% 120 107 110 80% 100 70% 60% EUR million 80 55% 57% 57% 54% Revenue 49% 51% 50% 57 Adjusted EBITDA 60 40% Adjusted EBITDA margin 40 30% 74 74 67 58 54 20% 20 29 10% 0 0% 2017 2018 2019 2020 2021 2022 6K

  15. Slide 15: Results by segments

    Results by segments Passenger harbours Cargo harbours 60 100% 60 100% 50 80% 50 63,9% 80% 40 50 65,8% 52,6% 40 47,6% 60% 55,5% 54,8% 60% 30 52,8% 30 40 40 41 52,2% 33 40% 40% 20 29 29 20 25 20% 22 22 20 20% 10 15 14 17 9 10 10 0 0% 0 0% 2019 2020 2021 2022 6M 2019 2020 2021 2022 6M Revenue mEUR Adj.

  16. Slide 16: New business opportunities

    New business opportunities Valdo Kalm CEO

  17. Slide 17: Äristrateegia / Meie visioon

    Äristrateegia • Leida kestlikke kasvuvõimalusi kõigis neljas ärivaldkonnas Meie visioon • Tagada stabiilne omanikutulu, täita dividendipoliitikat Tallinna Sadama visioon on saada Läänemere • Vastutustundlik äri- ja uuendusmeelseimaks organisatsioonikultuur sadamaks, luues klientide jaoks parima kesk

  18. Slide 18: Sustainable solutions

    Sustainable solutions • Tallinna Sadam consumes renewable energy • Dues discount for environment friendly vessels based on ESI index • Auto-mooring system and on- shore power supply (OPS) for regular line vessels in Old City Harbour • Planning on-shore power supply for cruise vessels in Old City Har

  19. Slide 19: Sustainable solutions

    Sustainable solutions • Waste water reception in Old City Harbour • ship generated waste reused in the circular economy • Collection of waste from underwater cleaning of ships • Electrification of ferry fleet • Solar panels, seawater-powered heating and cooling system • Conservation of biodiversity

  20. Slide 20: Future vision

    TALLINNA £ SADAM Future vision

  21. Slide 21: Maritime megatrends and vision

    Maritime megatrends and vision MEGATRENDS VISION 2030+ Changes in global supply chains • Near-shoring • Consolidation • Alternative fuels, electrified or hybrid ships Environmentally friendly and sustainable • Sustainable port as ecosystem solutions • Production and storage of alternative energy, of

  22. Slide 22: Port 2030+

    Port 2030+ • Marine Single Window 4.0 • Intelligent port partner platform Smart Port 4.0 • Automated management of port infrastructure • Port digital twin • Alternative energy sources • Climate neutral Port of Tallinn • Value proposition based marketing and sales

  23. Slide 23: Cargo

    Cargo • Multimodal port • Rail Baltic and North-South stream • Construction and maintenance base of wind farms • Alternative fuels’ terminals • Automated mooring and OPS on regular lines • Near-shoring and new trade logistics • Production of technological components in Muuga and Paldiski industrial

  24. Slide 24: Passengers

    Passengers • Tallinn-Helsinki green corridor • Passenger ships on alternative fuels • Pollution free ships at the port (green fuel or OPS) • Modern and sustainable passenger terminals • Intelligent, ticket-free, multimodal travel service and border crossing • OPS for cruise ships

  25. Slide 25: Real estate and new urban space

    Real estate and new urban space • Sustainable development criteria • Renewable energy use • Energy efficient and smart buildings • Circular economy in waste management • Planning 15-minute city • New level mobility service • New tram line • Cycling and pedestrian paths • Reduced parking, car sharing

  26. Slide 26: Shipping

    Shipping • Off-shore wind farms maintenance • Hybrid and electric vessels • Hydrogen vessels • Management of unmanned vechicles at the port and on a ship • Smart ticket-free service

  27. Slide 27: Digital Port 4.0

    Smart supply Port area Digital Port 4.0 chain management - Single Window (EMDE) - Digital twin (incl. GIS, BIM) - Just in Time, Flexport - Development, management, maintenance - Partnerplatform (Smart Port): works and management (incl. AllDevice) · Port Community System - IoT, sensor net, building a

  28. Slide 28: Growth projects

    Growth projects • Base harbor for offshore wind farms in Paldiski - construction and maintenance • Rail Baltic Muuga freight station • Alternative fuels – hydrogen, LNG and other sources • Old City Harbour real estate development Masterplan 2030+

  29. Slide 29: Base harbor for offshore wind farms in Paldiski

    Base harbor for offshore wind farms in Paldiski • Additional quay investment EUR 53M, incl. EU funding EUR 20M • Three MOUs signed • Sketch design 2021 • Tender for design and construction 2022 • Construction completed 2025 • Value proposition with industrial park areas and maintenance fleet

  30. Slide 30: Rail Baltic freight station and Amber Train

    Rail Baltic freight station and Amber Train North-South trade • Loading options from maritime, road and rail • Design completed 2022 (Sweco Projekt AS) transport • Construction planned 2023-2025 • Annual capacity 4-5 million tonnes of cargo • Co-financed by EU from CEF I programme • Serves both 1435

  31. Slide 31: Green energy and alternative fuels

    Green energy and alternative fuels LNG, hydrogen and other sources • Baltic Sea green fuel corridor • OPS from hydrogen to cruise ships • Gdynia-Hamburg-Rönne-Rotterdam-Tallinn • Hydrogen import-export terminal at Paldiski • Hydrogen Valley Estonia and/or Muuga • Ferries to hydrogen power

  32. Slide 32: Terminal A and cruise terminal

    Terminal A and cruise terminal Northern part Southern part Terminal D Admirality basin

  33. Slide 33: Offshore wind farms base at Paldiski

    Offshore wind farms base at Paldiski Margus Vihman Chief Commercial Officer

  34. Slide 34: Construction of offshore wind farms – new market EUR 100 bn

    Construction of offshore wind farms – new market EUR 100 bn

  35. Slide 35: Baltic Sea eastern part has no infrastructure

    Baltic Sea eastern part has no infrastructure

  36. Slide 36: Paldiski South Harbour

    PALDISKI SOUTH HARBOUR Great potential regional harbour • Ro-ro • General cargo • Dry bulk • Liquid bulk Port land area 119 ha Water area 147 ha Total quay line 1,85 km Quays 10 Max depth 14,5 m Max length of vessel 230 m

  37. Slide 37: Value proposition Paldiski 1/4

    Offshore wind farm infrastructure: Assembly Installation Logistics and/or production • Custom-built multi-functional quay for installation vessels Value proposition for the wind farm (to be built according to the existing Paldiski 1/4 detailed plan) • Loading and unloading area directly behind the q

  38. Slide 38: Paldiski South Harbour industrial park

    Paldiski South Harbour industrial park Development and plans Industrial park area 23 ha Industrial part area 16 ha

  39. Slide 39: Value proposition Paldiski 2/4

    Three existing quays Tallinna Sadam Stividor with ro-ro ramps and subsidiary Esteve (long term lo-lo equipment (total TS Shipping operating partner in Paldiskis), length ca 600 m and depth icebreaker and specialized to handle 9 to 12 m) offshore support vessel oversized cargo Botnica Regular weekly

  40. Slide 40: Value proposition Paldiski 3/4

    • Construction materials for offshore construction (concrete, filling material, metal) • Professional diving services • Construction of offshore foundations • Metal structures for offshore construction • Large-scale industrial production and assembly • Production and logistics of electrical and elec

  41. Slide 41: Value proposition Paldiski 4/4

    Training Instruction R&D Support Value proposition Paldiski 4/4 • Ship repair and maintenance (with partner BLRT ship repair) • Training, education and R&D related to offshore activities (cooperation with the Estonian Maritime Academy)

  42. Slide 42: Offshore wind farms and shipping

    Offshore wind farms and shipping Ülo Eero CEO of TS Shipping OÜ

  43. Slide 43: Offshore wind farms and shipping

    Offshore wind farms and shipping • Experience working in offshore wind farms • Ice-breaking experience • Full-scale offshore vessel technical management and maintenance • Crewing of an offshore vessel • Ensuring certification Business plan • Shipbuilding experience • Technical maintenance of ferries

  44. Slide 44: Botnica's work in German wind farms in the North Sea

    Botnica's work in German wind farms in the North Sea

  45. Slide 45: Planned offshore wind farms

    Planned offshore wind farms PALDISKI SADAM 100 KM Offshore wind farms planned for Estonian sea areas SAAREMAA SADAM Possible Tallinna Sadam offshore wind farms base and maintenance ports

  46. Slide 46: Construction stages of offshore wind farms

    Construction stages of offshore wind farms • Possible participation of TS Shipping and TS • Participating in construction process of wind generators Laevad in the construction and maintenance • Maintenance of wind turbines of offshore wind farms • Underwater diver and ROV work

  47. Slide 47: Offshore windfarm maintenance harbour

    Offshore windfarm maintenance harbour • Production port • Port of assembly • Port of mobilization THE NETHERLANDS ____________ • Offshore port EEMSHAVEN windfarms base port

  48. Slide 48: Offshore windfarm maintenance harbour

    Offshore windfarm maintenance harbour EXAMPLE: WINDFARM WITH 100 - 150 GENERATORS Three/four 12-seat CTV type vessels are used • Generator maintenance • Underwater research / diver work • Base / towers / blade inspection • Reliability analyzes / studies with drones • Maintenance of electrical distri

  49. Slide 49: Offshore wind farms installation and maintenance fleet

    Offshore wind farms installation and maintenance fleet • Potential jobs • Ships' crews and shore personnel CTV vessels SOV vessels (ice class & helideck) Hovercraft for harsh winters

  50. Slide 50: Offshore wind farms SOV vessels

    Offshore wind farms SOV vessels KONGSBERG ACTA MARINE POLAND MMC DESIGN ST ENGINEERING / BATTERY POWERED SEARENERGY ULSTEIN WÄRTSILA SKIBSTEKNIK DAMEN

  51. Slide 51: Aircraft in offshore wind farms

    Aircraft in offshore wind farms • Use of helicopters for year-round maintenance • Helicopter crews • Use of helicopters in rescue operations • Aircraft shore personnel • Difficult access to offshore wind turbines due to icy conditions • Drone operators • Drone technicians

  52. Slide 52: Offshore wind farms CTV vessels

    Offshore wind farms CTV vessels

  53. Slide 53: Ice conditions Baltic Sea February 2011

    Ice conditions Baltic Sea February 2011

  54. Slide 54: Ice conditions Baltic Sea 1720-2022

    Ice conditions Baltic Sea 1720-2022

  55. Slide 55: Questions and answers

    Questions and answers

  56. Slide 56: Esitluse kasutamise tingimused

    Esitluse kasutamise tingimused Esitlus on koostatud üksnes ja ainult informatiivsel eesmärgil. Esitluse mis tahes osa Lisaks sellele, isegi kui Tallinna Sadama tegevustulemused ning finantsolukord ning avamise, allalaadimise, lugemise või muul moel endale tervikuna või osaliselt selle ärisektori are

  57. Slide 57: Thank you!

    Thank you! www.ts.ee investor@ts.ee portoftallinn

Tallinna Sadam — Investor Day (September 2022) on 6ix