Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q4 2021 Earnings Presentation
18 slides from Tallinna Sadam As's earnings presentation, Feb 28, 2022
Slide 1: Results of 2021 Q4 and 12 months
Results of 2021 Q4 and 12 months Webinar 28.02.2022
Slide 2: Presenters
Presenters Valdo Kalm Andrus Ait Marju Zirel CEO CFO Chairman of the Management Board Member of the Management Board Head of Investor Relations
Slide 3: Main events business in 2021
Main events business in 2021 • Record cargo volume of last 6 years • Extension of Katoen Natie terminal in Muuga • HHLA new container cranes at the Muuga harbour • MPSV Botnica 10-year agreement with the state (20.12.2022–20.04.2032) • Ferry Tõll incident in July
Slide 4: Main events business in 2021
Main events business in 2021 • Cruise returning and Stockholm line reopened • Opening of cruise terminal and promenade • Opening of the Admiral Bridge • Opening of parking house of passenger terminal D • Dispute with Tallink over port dues. Compromise agreement reached in Q1 2022 • Changes in the Ma
Slide 5: Main events CSR in 2021
Main events CSR in 2021 • Transition to green electricity consumption • Stricter environmental measures adopted for vessels • Automated mooring service in the Old City Harbour started in December • Ships at 5 quays connected to OPS • Started reporting on CDP (Carbon Disclosure Project) platform • GH
Slide 6: Recognitions 2021
Recognitions 2021 • Nasdaq Baltic Awards 2021 – Investor Relations of the Year • Silver level in Estonian Responsible Business Forum’s Corporate Social Responsibility Index, both Tallinna Sadam and TS Laevad • Cruise terminal and promenade was awarded as grand prix of architecture award, “Tallinn De
Slide 7: Trends in Q4 by business segments
Trends in Q4 by business segments • PASSENGERS – steep rise in PAX numbers (+93%) and revenue (+36%). Travel restrictions lifted • CARGO – decline in volumes (-19%); and revenue (-2%) coming mainly from liquid bulk and dry bulk. Impact by high energy prices. Decline in profitability • FERRY – revenu
Slide 8: Passenger volume
Passenger volume Q4 Full year 5 000 1 400 1 215 4 333 -18% 1 200 +93% 4 000 140 3 542 103 Thousand PAX Thousand PAX 1 000 3 000 208 800 630 600 2 000 3 987 1 059 400 3 012 586 1 000 200 0 0 2020 2021 2020 2021 Tallinn-Helsingi Tallinn-Stockholm Tallinn-Helsingi Tallinn-Stockholm Muuga-Vuosaari Cruis
Slide 9: Cargo volume
Cargo volume Q4 Full year 7 25 +5% 22,4 5,8 -19% 21,3 6 1,9 0,5 20 1,8 5 4,7 4,7 1,3 4,4 Million tons Million tons 0,5 15 4 1,0 6,5 1,5 5,6 3 10 1,7 2 2,5 5 9,1 8,8 1 1,4 0 0 2020 2021 2020 2021 Liquid bulk Ro-Ro Dry bulk Liquid bulk Ro-Ro Dry bulk Containers General cargo Containers General cargo
Slide 10: Shipping volumes
Shipping volumes Ferries MPSV Botnica 2500 300 100% 2204 267 249 1976 250 2000 80% Thousand PAX/vehicles 66% 200 73% 1500 68% 60% days 1100 150 46% 963 1000 40% 100 416 445 61 500 42 20% 223 238 50 0 0 0% Q4 2020 Q4 2021 2020 2021 Q4 2020 Q4 2021 2020 2021 passengers vehicles charter days utilizatio
Slide 11: Future outlook
Future outlook Affecting factors • Continuing COVID-19 (impact on passenger business) • Sanctions against Russia • Sanctions against Belarus cargo • Energy prices and climate change action
Slide 12: Results of the Group in Q4
Results of the Group in Q4 In thousands Q4 2021 Q4 2020 +/- 2021 2020 +/- Revenue 28 540 25 303 12.8% 110 051 107 358 2.5% Adjusted EBITDA 12 813 12 121 5.7% 54 046 58 423 -7.5% Adjusted EBITDA margin 44.9% 47.9% -3.0 49.1% 54.4% -5.3 Operating profit 6 649 6 257 6.3% 29 758 35 562 -16.3% Income tax
Slide 13: Results by business segments in Q4
Results by business segments in Q4 Q4 segments (mEUR) Full year segments (mEUR) Passenger H 4,0 8,4 Passenger H 13,7 28,8 2,5 6,2 15,1 28,8 Cargo H 5,4 10,4 Cargo H 22,3 40,7 6,4 10,6 25,4 39,7 Ferry 2,4 7,4 Ferry 12,5 30,7 3,1 6,9 14,1 29,7 Other 1,1 2,3 Other 5,6 9,9 0,2 1,6 3,8 9,2 0 2 4 6 8 10 1
Slide 14: Cash Flow and Financial Position
Cash Flow and Financial Position Cash Flow statement Financial position 700 In thousands 2021 2020 +/– 600 Cash from operating 50 162 49 516 646 500 activities 375 381 Cash used in investing 400 –12 191 –30 033 17 842 activities 580 591 300 Free cash flow (FCF) 37 971 19 483 18 488 41 45 200 Cash fr
Slide 15: Revenue generation
Revenue generation Passenger harbours Cargo harbours 35 50 29 29 40 41 30 40 25 6,2 8,4 10,6 10,4 30 MEUR MEUR 20 10,0 10,3 10,9 15 9,7 20 10 4,6 9,4 9,8 Total revenue 5,7 10 5 7,9 150 5,0 9,3 9,6 0 0 107 110 2020 2021 2020 2021 100 25,3 28,5 MEUR Ferry Other 31,8 32,3 10 40 10 9 50 22,4 24,3 30 31
Slide 16: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 20 30 25 15 22 15 14 6,4 2,5 20 5,4 MEUR MEUR 4,0 10 7,0 5,9 6,8 5,4 10 5,2 Total adj. EBITDA 5 1,8 5,4 2,5 6,7 80 4,0 5,6 0 1,8 0 58 2020 2021 2020 2021 60 54 12 13 MEUR Ferry Other 40 20 20 17 6 6 20 10 15 14 1,1 11 13 4 0,2 16 3,1 4 13 MEUR 2,4
Slide 17: Q&A session
PORT OF @ TALLINN Q&A session
Slide 18: Thank You!
Thank You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee