Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — AS Tallink Grupp — Q2 2025 Earnings Presentation
32 slides from Tallink Grupp As's earnings presentation, July 2025
Slide 1: AS Tallink Grupp
AS Tallink Grupp July 2024 ¥ TALLINK | SILJA LINE /®
Slide 2: Key facts about Tallink Grupp
Tallink Grupp KEY FACTS ABOUT TALLINK GRUPP as at end of Q2 2025 The leading European provider of leisure and business travel and sea transportation services in the Baltic 13 vessels 5 regular routes Sea region. 11 passenger vessels on the Baltic Sea 2 cargo vessels 3 vessels in charter 3.4 million
Slide 3: Strategic plan
Strategic plan LONG TERM OBJECTIVES TOWARDS INCREASING THE COMPANY VALUE AND PROFITABILITY • Strive for the highest level of customer satisfaction • Improve profitability and strengthen the leading position on our home markets • Develop a wide range of quality services directed at different customer
Slide 4: Operations
Operations Restaurant operations — BURGER KING of Fistand—Sneden QD . = Sree srecthoim QD 0 FH Finlond —Cermony @Y ——_— . @ 20010 —sw0sen . @Esonio Friend fe e Hotel operations 1 1 1 8 Baltic Queen 1 © 1 1 | Bolte Princess ElatesS Superstor Megastor Stor MyStor Secondary sting on Private Nosdg Plece
Slide 5: Fleet by routes and chartered vessels end of Q2 2025
Fleet by routes and chartered vessels end of Q2 2025 Tallinn - Helsinki Helsinki - Stockholm Chartered In lay-up Megastar Silja Symphony Galaxy I Regal Star Vessel type High-speed ro-pax Vessel type Cruise ferry Vessel type Cruise ferry Vessel type Ro-ro passenger vessel Built/renovated 2017 Built/r
Slide 6: Routes & passengers
Routes & passengers Passengers in 2024 Finland 47% Estonia 23% Europe 10% Sweden 7% Asia 4% Latvia 2% Lithuania 2% Other 5% 6
Slide 7: Passenger operations market share
Passenger operations Turku - Stockholm market share 46% 45% 42% 49% 60% 71% Northern Baltic passenger market 75% ~14 million passenger in 2024 54% 55% 58% 51% 40% 29% 25% 2018 2019 2020 2021 2022 2023 2024 Tallinn - Helsinki Helsinki - Stockholm 7% Tallink 17% 17% 17% 17% 21% 21% 24% 27% 27% 29% 28%
Slide 8: Cruise ferry
Cruise ferry 927 cabins, 2800 passengers Buffet Nightclub Tango lounge Conference Shops, pubs, restaurants Show bar
Slide 9: Shuttle vessel
Shuttle vessel _J--—._ SS ee. > “" "“TALLINK S-7e ————— SERVICE & SHOP SERVICE & PROVISION PASSENGERS RORO Wi
Slide 10: Business model
Business REVENUE STRUCTURE 2024 model Product offering Cargo 11% RETAIL AND LEISURE SIDE Restaurant & shop sales Accommodation • Onboard Catering 48% 2% • Onboard Tax-Free Shopping Charter • Hotel & Travel Packages 8% INFRASTRUCTURE SIDE Other 2% • Overnight Cruises & Passenger Trasnportation • Carg
Slide 11: Position in the global ferry market
Position in the global ferry market THE WORLD'S TOP DUTY FREE & TRAVEL RETAIL SHOPS FERRY OPERATOR BY GROSS TONS Rank Company Gross tons 1 Grimaldi Group 1,199,747 Ranking by actual retail sales in 2023 2 Stena Line 973,572 3 Grand Navi Veloci 831,514 Rank Location Country Turnover (€m) 4 Onorato Ar
Slide 12: Retail brands on board
WeSAINTAURENT BALLY Pau: Bor VERSACE CLARINS aituas... ESTEE LAUDER FERY CAROLINA HERRERA SENSAT victorivox DOICEsGABBANA Paco rabanne ianectredale SD Jo MALONE Dior MARMARA Boss THE SKINCARE MAKEUP™ SLFJAKOBS LINDBERGH Alexander McQUEEN ElizabethArden =SHLVEIDO , POLO TOMFORD MICHAEL KORS CS AK Tom
Slide 13: Dining concepts on our vessels
Dining concepts on our vessels Our brands and international premium brands BUFFET RESTAURANTS FINE DINING RESTAURANTS À LA CARTE RESTAURANTS QUICK SERVICE RESTAURANTS 13
Slide 14: Safety, security and environmental protection are a high priority
Safety, security and environmental protection are a high priority
Slide 15: Sustainability focus areas and goals
Sustainability focus areas and goals 15
Slide 16: Focus on Innovation
Focus on Innovation Tallink Grupp is investing in innovation and TOTAL CO2 EMISSIONS technology for the Baltic Sea including: 1200 • 0.5 billion euros in eco-friendly vessels 1000 and • 20 million euros in green technologies. 800 The 62% reduction in CO2 emissions has been achieved by investing in:
Slide 17: Policies and certifications
Policies and certifications • ISO 14001:2015 Environmental Certificate by Lloyds Register • International Anti-Fouling System Certificate • MARPOL International Energy Efficiency Certificate • MARPOL International Sewage Pollution Prevention Certificate • MARPOL International Air Pollution Preventio
Slide 18: Employees of Tallink Grupp
Employees of Tallink Grupp As of December 31, 2024 Emplyee split by countries 3005 w — 4h uy 953 Empl + ae = L847 ou wy w? 7.8 Average years spent in the company Employees iH on-shore 1760 & Employees on-board 3087 VY TALLINK | SILJA LINE /2 Gender split Women men 55% | 45% oOo Average age of employ
Slide 19: FY2024 revenues
FY2024 revenues Selected Key Figures 2023 2024 Change (financials in million euros) • Revenue EUR 785.8m (EUR -10.2m or -5.3% vs LY) Number of passengers 5,705,600 5,580,016 -2.2% — Strong result from Estonia-Sweden routes (EUR +6.6m Number of cargo units 323,990 303, 234 -6.4% or 7.3% vs LY) Number
Slide 20: Full year cost breakdown
Full year cost breakdown Net finance cost⁴ 3.7% (EUR millions) 2023 2024 Change Depreciation and amortisation 12.9% Cost of goods 170.6 163.9 -3.9% Cost of goods 21.6% Staff costs 131.7 142.8 8.4% Marketing & Administration (1)(2) 83.0 85.5 3.0% Other costs³ 2.1% Port & Stevedoring 69.9 73.3 4.8% Sh
Slide 21: Q2 2025 revenues
Q2 2025 revenues Selected Key Figures • Revenue EUR 207.0m (EUR -3.1m or -1.5% vs LY) Q2 2024 Q2 2025(1) Change (financials in million euros) — Strong accommodation and ticket revenue as well as Number of passengers 1,451,768 1,488,128 2.5% stable onboard sales offset majority of the decline in Numb
Slide 22: Sales & results by geographical segments Q2 2025
Sales & results by SEGMENT SALES (in million euros) geographical 240 210 2 0.1 -2.9 1.8 -2.2 0.1 207 200 segments Q2 2025 2 160 120 ESTONIA-FINLAND 80 The segment reflects operations of two shuttle vessels – 40 MyStar and Megastar and the cruise ferry Victoria I. 0 ESTONIA-SWEDEN Q2 Estonia Estonia
Slide 23: Sales by operational segments Q2 2025
Sales by REVENUE STRUCTURE Q2 2025(1) operational Restaurant & shop sales Cargo 10% segments Q2 2025 49% Accommodation 3% Charter 6% • Chartering revenues impacted by less Other vessels on charter in April and May 2025 3% compared to the same period a year ago. Chartering of the cruise ferry Romanti
Slide 24: Dynamics of seasonality
Dynamics of seasonality Passengers (millions) Cargo (th. units) 500 10 410 8 400 96 324 303 6 5.5 5.7 5.6 300 76 Q4 102 65 1.3 1.3 1.3 4 200 76 67 Q3 1.9 1.8 1.7 2.5 109 125 85 87 Q2 2 1.5 1.5 1.5 100 67 1.6 1.0 1.1 1.0 102 87 85 Q1 0 58 0 2022 2023 2024 2025 2022 2023 2024 2025 Revenue (in million
Slide 25: Dynamics of seasonality
Dynamics of seasonality Quarterly net result (in million euros) 2022 2023 2024 1H2025(1) net profit 14M€ net profit 79M€ net profit 40M€ net loss 36M€ 70 50 30 49 38 33 37 10 17 6 2 3 -5 -5 -3 -10 -33 -40 -30 -50 Notes: (1) 2025 unaudited Most of profits are typically earned in summer, the high seas
Slide 26: Consolidated income statement
Consolidated income statement In million euros 2023 2024 Q2 2024 Q2 2025(2) Sales 835 786 210 207 Cost of sales (1) -631 -632 -163 -168 Marketing & administrative cost (1) -95 -97 -25 -24 Other operating items, net 4 21 1 0 Result from operating activities 113 77 22 15 Income tax 1 -9 -9 -11 EBITDA
Slide 27: Consolidated cash flow statement
Consolidated cash flow statement In million euros 2023 2024 Q2 2024 Q2 2025(1) Operating cash flow 203 158 56 60 Capital expenditure -28 -22 -4 -8 Asset disposal 1 25 0 65 Interest received 1 1 0 0 Free cash flow 177 162 51 117 Debt financing (net effect) -213 -106 -21 -90 Interests & other financia
Slide 28: Consolidated statement of financial position
Consolidated statement of financial position In million euros 31.12.2023 31.12.2024 31.03.2025(2) 30.06.2025(2) 30.06.2025(2) Total assets 1,555 1,463 1,471 1,414 Non-current assets 1,432 1,356 1,350 1,267 1400 Cash Intangibles Current assets 123 108 121 147 Other Other liabilities - of which cash 4
Slide 29: Loan portfolio structure
Loan portfolio Long-term bank loans structure LONG-TERM BANK LOANS 700 84.2 90 80 600 16 • EUR 405 million as at 30 June 2025 70 • 3 loan agreements outstanding: syndicated 500 loan and two ship building loans 60 • Maturing 3 – 9 years 400 8 746 50 • EUR denominated, fixed and EURIBOR floating 663 4
Slide 30: 38,164 shareholders and FDR-holders
38,164 shareholders and FDR-holders incl. 29,940 on Tallinn Stock Exchange (TAL1T) and 8,224 on Helsinki Stock Exchange (FI4000349378) as at 30 June 2025
Slide 31: Shareholders and share performance
Shareholders and share performance Infortar AS 68.5% Nordea Bank Abp / Clients FDR 3.2% Mersok OÜ 1.5% Clearstream Banking AG 1.1% Retail investors Luksusjaht AS 1.0% 12% Citibank (New York) / Government of Norway 0.9% Institutional Enn Pant 0.9% investors Unicredit Bank Austria AG 0.8% 8% AB SEB Ba
Slide 32: — eee ee
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