Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q1 2021 Earnings Presentation
15 slides from Tallinna Sadam As's earnings presentation, May 10, 2021
Slide 1: Results of Q1 2021
Results of Q1 2021 Webinar 10.05.2021
Slide 2: Presenters
Presenters Valdo Kalm Marko Raid CEO CFO Chairman of the Management Board Member of the Management Board
Slide 3: Q1 2021 main events (1/2)
Q1 2021 main events (1/2) • One year of pandemic restrictions • MPSV Botnica 10-year agreement with the state (20.12.2022–20.04.2032) • MPSV Botnica charter in summer 2021 confirmed • Opening of parking house of passenger terminal D • Dividend proposal EUR 0,077 per share, 20,251 mEUR in total (71%
Slide 4: Q1 2021 main events (2/2)
Q1 2021 main events (2/2) • Greenhouse gas emission study published • Transition to green electricity consumption • Tallink filed a claim for alleged overpricing (15 mEUR) • Extension of Guldar Kivro’s authorities as a management board member of TS Laevad • New member in the nomination committee – M
Slide 5: Trends in Q1 by business segments
Trends in Q1 by business segments • PASSENGERS – second wave restrictions and continuing decline in PAX numbers (–76%). No cruise, some lines closed. • CARGO – growth in volumes (+9.6%); and revenue (+2.9%) coming from dry bulk and ro-ro. • FERRY– stable revenue. • OTHER segment – stable revenue, 10
Slide 6: COVID-19 main impacts
COVID-19 main impacts • Passenger H: strong downturn from March 2020, • Ferry: no significant financial impact no cruise calls. Temporary restrictions for • Other: no significant impact for Botnica. passenger movement, ro-ro cargo keeps ROPAX Drop in Green Marine profitability, in Q1 partial vessels
Slide 7: Passenger and cargo volumes
Passenger and cargo volumes Passengers Cargo 6 1 800 1552 +10% 5,3 1 600 4,8 0,1 5 0,4 136 1 400 0,5 0,1 4 1,1 1 200 0,8 –76% Thousand PAX Million tons 1 000 3 1,3 1,5 800 1 394 600 2 373 400 1 2,2 2,1 200 334 0 0 2020 Q1 2021 Q1 2020 Q1 2021 Q1 Tallinn-Helsinki Tallinn-Stockholm Muuga-Vuosaari Liqu
Slide 8: Shipping volumes
Shipping volumes Ferries MPSV Botnica 350 100 100% 303 100% 100% 300 90 269 91 90 80 80% Thousand PAX/vehicles 250 70 200 60 60% Days 155 158 50 150 40 40% 100 30 20 20% 50 10 0 0 0% 2020 Q1 2021 Q1 2020 Q1 2021 Q1 passengers vehicles charter days utilization rate
Slide 9: Results of the Group in Q1
Results of the Group in Q1 In thousands Q1 2021 Q1 2020 +/– % Revenue 24 988 27 890 –2 902 –10.4% Adjusted EBITDA 13 022 16 171 –3 149 –19.5% Adjusted EBITDA margin 52.1% 58.0% –5.9 – Operating profit 7 221 10 514 –3 293 –31.3% Profit for the period 6 844 9 982 –3 138 –31.4% Investments 3 640 8 757
Slide 10: Results by business segments in Q1
Results by business segments in Q1 Q1 segments (mEUR) Passenger H 1,8 5,0 4,0 7,9 Cargo H 5,6 9,6 6,7 9,3 Ferry 3,0 6,8 3,2 7,0 Other 2,6 3,6 2,1 3,7 0 2 4 6 8 10 12 Adjusted EBITDA 2021 Adjusted EBITDA 2020 Revenue 2021 Revenue 2020
Slide 11: Cash Flow and Financial Position
Cash Flow and Financial Position Cash Flow statement Financial position 700 In thousands Q1 2021 Q1 2020 +/– 600 Cash from operating 15 015 18 208 –3 193 500 activities 375 382 Cash used in investing 400 –4 760 –5 270 –510 activities 589 591 300 Free cash flow (FCF) 10 255 12 938 –2 683 41 43 200 Ca
Slide 12: Revenue generation
Revenue generation Passenger harbours Cargo harbours 35 50 29 40 30 40 25 6,2 10,6 30 MEUR MEUR 20 10,0 10,3 15 20 10 4,6 9,4 10 Total revenue 5 10 5 7,9 150 5,0 9,3 9,6 0 0 2020 2021 2020 2021 107 100 25,3 MEUR Ferry Other 31,8 40 10 9 50 22,4 25 30 8 1,6 30 27,9 25,0 6,9 0 MEUR 6 3,0 MEUR 20 8,3 4
Slide 13: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 20 30 15 25 15 6,4 2,5 20 MEUR MEUR 10 7,0 6,8 10 5,2 Total adj. EBITDA 5 1,8 6 2 6,7 80 4,0 5,6 0 1,8 0 70 58 2020 2021 2020 2021 60 50 12 MEUR Ferry Other 40 20 20 6 30 4 0,2 20 10 13 15 14 4 10 16 13 3,1 3 MEUR 1,8 0 10 MEUR 4,3 2 2020 2021 2,6
Slide 14: Q&A session
PORT OF @ TALLINN Q&A session
Slide 15: Thank You!
Thank You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee