Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — AS Tallink Grupp — Q4 2022 Earnings Presentation
18 slides from Tallink Grupp As's earnings presentation, Feb 22, 2023
Slide 1: Q4 2022 AS Tallink Grupp Results Webinar
22 FEBRUARY 2023 Q4 2022 AS TALLINK GRUPP RESULTS WEBINAR
Slide 2: Presenters
PRESENTERS PAAVO NÕGENE HARRI HANSCHMIDT MARGUS SCHULTS CHAIRMAN OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD 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 15 vessels • Six ferry routes (1 suspended) • Operating four hotels (1 closed) KEY FACTS STRONG BRANDS • Revenue of EUR 771.4 million in 2022 • S
Slide 4: Q4 2022 Developments and Key Facts
Q4 2022 DEVELOPMENTS AND KEY FACTS OPERATING ENVIRONMENT • Geopolitical situation and war in Ukraine since February • High inflation of global fuel and energy prices as well as prices of food products and materials • Increasing interest rates • Consumer and business confidence in home markets improv
Slide 5: Q4 2022 Overview
Q4 2022 OVERVIEW Q4 Selected Key Figures Q4 2021 Q4 2022 Change (financials in million euros) • Revenue EUR 203.7m (EUR +37.0m or 22.2% vs LY) Number of passengers 1,122,892 1,296,047 15.4% — Recovery in passenger numbers from COVID-19 related travel Number of cargo units 101,486 96,052 -5.4% restri
Slide 6: Q4 2022 Revenue Development by Operating Segments
Q4 2022 REVENUE DEVELOPMENT BY OPERATING SEGMENTS (EUR MILLION) 300 Restaurant and shop sales on-board and onshore increased mainly due to higher number of passengers Increase in ticket sales attributable to increased demand and 250 increased supply of overnight services -0.6 203.7 19.3 -2.9 1.5 Hig
Slide 7: Q4 2022 Revenue Development by Geographical Segments
Q4 2022 REVENUE DEVELOPMENT BY GEOGRAPHICAL SEGMENTS (EUR MILLION) 250 24.5 -0.9 203.7 Overall increase in demand and increased supply of overnight 200 services 2.2 166.6 9.5 1.9 Estonia-Finland Segment reflects operations of two shuttle vessels 150 Estonia-Sweden Results reflect operations of two c
Slide 8: Results: Quarterly Seasonality Breakdown
RESULTS QUARTERLY SEASONALITY BREAKDOWN PASSENGERS (MILLIONS) CARGO (TH. UNITS) 10 9.8 410 400 380 360 369 2.3 96 8 94 82 101 300 Q4 6 3.0 5.5 102 93 92 91 Q3 3.7 1.3 200 4 3.0 109 Q2 2.7 1.9 100 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 (1) (1) 2019 2020 2021 2022 2019 2020 2021
Slide 9: 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 net profit 14 70 50 30 55 38 10 17 15 5 6 -3 -1 -10 -25 -27 -24 -27 -24 -30 -34 -40 -30 -50 MOST OF THE PROFITS ARE TYPICALLY EARNED IN SUMMER, T
Slide 10: 2022 Overview
2022 OVERVIEW Selected Key Figures 2021 2022 Change • Revenue EUR 771.4m (EUR +294.5m or 61.7% vs LY) (financials in million euros) — Recovery in passenger numbers from COVID-19 related travel Number of passengers 2,961,975 5,462,085 84.4% restrictions Number of cargo units 369,170 409,769 11.0% — 1
Slide 11: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT (2) (2) 2021 2022 Q4 2021 Q4 2022 (EUR million) Sales 477 771 167 204 Cost of sales (1) -455 -658 -147 -162 Marketing & administrative cost (1) -75 -87 -22 -24 Other operating items, net 16 11 3 6 EBITDA 58 136 25 50 Margin (%) 12.2% 17.6% 15.1% 24.8% Net Result -57 14
Slide 12: Full Year Costs Breakdown
FULL YEAR COSTS BREAKDOWN (5) (EUR thousands) 2021 2022 Change Cost of goods 110,451 160,556 45.4% Net finance cost Depreciation and 3.2% Staff costs 86,101 120,018 39.4% amortisation 12.8% Marketing & Administration (1)(2) 62,075 74,262 19.6% Cost of goods 20.9% Port & Stevedoring 62,998 77,198 22.
Slide 13: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT (1) (1) (EUR million) 2021 2022 Q4 2021 Q4 2022 Operating cash flow 59 144 28 57 Capital expenditure -20 -203 -9 -180 Asset disposal 1 3 0 0 Free cash flow 40 -56 18 -122 Debt financing (net effect) 45 69 -30 141 Interests & other financial items -20 -25 -4 -7 Increa
Slide 14: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (2) (EUR million) 31.12.2020 31.12.2021 30.09.2022 31.12.2022 (2) 2000 Total assets 1,516 1,586 1,535 1,692 Non-current assets 1,427 1,383 1,338 1,496 Cash Other Intangibles liabilities Current assets 89 203 197 196 1500 Other assets - of which cash 28 12
Slide 15: Debt Structure
DEBT STRUCTURE LONG TERM BANK LOANS Total EUR 746 million long-term bank loans and used overdrafts as — EUR 746 million as at 31.12.2022 at 31.12.2022 — 7 loan agreements outstanding: syndicated loans, 900 EUR million amortizing project and working capital loans 800 — Maturities 0.8–12 years 700 — E
Slide 16: Events After the Reporting Period & Outlook
EVENTS AFTER THE REPORTING PERIOD & OUTLOOK • Continuously exploring options for chartering out vessels • New 4-year collective agreement signed with the Estonian Seamen’s Independent Union on 6 February 2023 • Extension of short-term charter agreement for Silja Europa until 19 June 2023 • In Januar
Slide 17: Questions & Answers
QUESTIONS & ANSWERS PAAVO NÕGENE HARRI HANSCHMIDT MARGUS SCHULTS CHAIRMAN OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD 17 TALLINK GRUPP
Slide 18: Thank You
THANK YOU AS Tallink Grupp Sadama 5, 10111, Tallinn, Estonia www.tallink.com/investors investor@tallink.ee