Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — Q1 2022 Earnings Presentation
16 slides from Tallink Grupp As's earnings presentation, Apr 28, 2022
Slide 1: Q1 2022 Tallink Grupp AS Results Webinar
28 APRIL 2022 Q1 2022 TALLINK GRUPP AS RESULTS WEBINAR
Slide 2: Presenters
PRESENTERS PAAVO NÕGENE HARRI HANSCHMIDT JOONAS JOOST CHAIRMAN OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD FINANCIAL DIRECTOR 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 14 vessels • Seven ferry routes (1 suspended) • Operating four hotels (1 closed) KEY FACTS STRONG BRANDS • Revenue of EUR 477 million in 2021 • S
Slide 4: 2022 Q1 Developments and Key Facts
2022 Q1 DEVELOPMENTS AND KEY FACTS OPERATING ENVIRONMENT • Impact of Omicron variant in the beginning of the quarter • Lifting of travel restrictions in Group’s home markets in Sweden, Finland and Estonia from February and March contributing to the increase in number of bookings • Geopolitical situa
Slide 5: Events After the Reporting Period & Outlook
EVENTS AFTER THE REPORTING PERIOD & OUTLOOK Pilt? • Short-term chartering of cruise ferry Isabelle Riga-Stockholm route not operated in 2022 • Disposal of the cargo vessel Sea Wind • Continuously exploring options for chartering out vessels • The new dual fuel (LNG, MGO) shuttle vessel MyStar is exp
Slide 6: Current State of Burger King Operations
CURRENT STATE OF BURGER KING OPERATIONS Pilt? • First Burger King restaurant opened in May 2020 in Estonia, 2021 the first full year period of Burger King operations • Located mainly in shopping malls in the largest towns in Estonia, Latvia and Lithuania • By the end of 2022, the Group intends to op
Slide 7: Q1 2022 Overview – COVID-19 & Travel Restrictions
Q1 2022 OVERVIEW – COVID-19 & TRAVEL RESTRICTIONS Q1 Selected Key Figures 2022 2021 Change (financials in million euros) Number of passengers 720 261 267 224 169.5% • Revenue EUR 106.1m (EUR +52.4m or 97.5% vs LY) Number of cargo units 101 938 85 156 19.7% — Impact of COVID-19 Omicron variant in the
Slide 8: Q1 Revenue Development by Operating Segments
Q1 REVENUE DEVELOPMENT BY OPERATING SEGMENTS (EUR MILLION) Restaurant and shop sales on-board and onshore increased mainly due to higher number of passengers 120 Increase in ticket sales attributable to increased demand and 106.1 increased supply of overnight routes to and from Stockholm High compet
Slide 9: Q1 Revenue Development by Geographical Segments
Q1 REVENUE DEVELOPMENT BY GEOGRAPHICAL SEGMENTS (EUR MILLION) 120 106.1 Revenues of all routes negatively affected by COVID-19, 6.1 -0.4 100 but less than a year ago. Overall increase in demand and increased supply of overnight routes to and from Stockholm 22.8 Estonia-Finland 80 The results effecti
Slide 10: Results: Quarterly Seasonality Breakdown
RESULTS QUARTERLY SEASONALITY BREAKDOWN PASSENGERS (MILLIONS) CARGO (TH. UNITS) 10 9.8 400 380 369 360 2.3 8 94 82 101 300 Q4 6 3.0 93 92 91 Q3 3.7 200 4 3.0 Q2 2.7 100 87 92 1.3 1.1 100 2 Q1 1.9 1.1 93 100 85 102 1.6 0.7 0 0 2019 2020 2021 2022 2019 2020 2021 2022 REVENUE (EUR MILLION) EBITDA (EUR
Slide 11: 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 Q1 net result -40 70 50 30 55 10 15 5 6 -3 -10 -25 -27 -24 -27 -24 -30 -34 -40 -30 -50 MOST OF THE PROFITS ARE TYPICALLY EARNED IN THE SUMMER, TH
Slide 12: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT (3) 2020 2021 Q1 2021 Q1 2022 (EUR million) Sales 443 477 54 106 Cost of sales (1) (486) (455) (74) (126) Marketing & administrative cost (1) (86) (75) (15) (18) Other operating items, net (2) 37 16 5 4 EBITDA 8 58 (6) (11) Margin (%) 1.8% 12.2% (11.7%) (10.3%) Net Resu
Slide 13: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT (1) (EUR million) 2020 2021 Q1 2021 Q1 2022 Operating cash flow (7) 59 (22) (18) Capital expenditure (100) (20) (4) (9) Asset disposal 0 1 0 0 Free cash flow (107) 40 (26) (27) Debt financing (net effect) 112 44 19 7 Interests & other financial items (16) (19) (5) (6
Slide 14: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (EUR million) 31.12.2020 31.03.2021 31.12.2021 31.03.2022 (2) Total assets 1 516 1 493 1 586 1 560 1500 Cash Other Intangibles liabilities Non-current assets 1 427 1 410 1 383 1 372 Current assets 89 83 203 188 Other Assets Share- - of which cash 28 15 12
Slide 15: Debt Structure
DEBT STRUCTURE LONG TERM BANK LOANS Total EUR 675 million long-term bank loans and used overdrafts as — EUR 663 million as at 31.03.2022 at 31.03.2022 — 7 loan agreements outstanding: syndicated loans, 900 EUR million amortizing project and working capital loans 800 — Maturities 1-8 years 700 — EUR
Slide 16: Thank You
THANK YOU AS Tallink Grupp Sadama 5, 10111, Tallinn, Estonia investor@tallink.ee www.tallink.com/investors