Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q3 2021 Earnings Presentation
15 slides from Tallinna Sadam As's earnings presentation, Nov 10, 2021
Slide 1: Results of 2021 Q3 and 9 months
Results of 2021 Q3 and 9 months Webinar 10.11.2021
Slide 2: Presenters
Presenters Valdo Kalm Marju Zirel CEO Chairman of the Management Board Head of Investor Relations
Slide 3: Q3 2021 main events
Q3 2021 main events • Extension of Katoen Natie terminal in Muuga • HHLA new container cranes at the Muuga harbour • Opening of cruise terminal and promenade • Cruise terminal and promenade was awarded as Tallinn Development Project 2021 • Opening of the Admiral Bridge • Ferry Tõll incident in July
Slide 4: Trends in Q3 by business segments
Trends in Q3 by business segments • PASSENGERS – decline in PAX numbers (-16%) and revenue (-4%). Cruise returning and Stockholm line reopened. • CARGO – strong growth in volumes (+23%); and revenue (+5%) coming mainly from liquid bulk. Decline in margin. • FERRY– stable revenue (+3%) • OTHER segmen
Slide 5: COVID-19 main impacts
COVID-19 main impacts • Passenger H: strong downturn from March 2020, • Ferry: no significant financial impact reopening of cruise season and Tallinn-Stockholm • Other: no significant impact for Botnica. line in July 2021. Opening of new cruise terminal. Drop in Green Marine profitability, in 2021 p
Slide 6: Passenger volume
Passenger volume Q3 9 months 2 000 4 000 3 703 -16% 1 620 3 500 138 -37% 1 500 1 358 3 000 Thousand PAX Thousand PAX 2 500 2 327 105 1 000 2 000 3 401 1 518 1 500 500 1 075 1 000 1 953 500 0 0 2020 2021 2020 2021 Tallinn-Helsingi Tallinn-Stockholm Tallinn-Helsingi Tallinn-Stockholm Muuga-Vuosaari Cr
Slide 7: Cargo volume
Cargo volume Q3 9 months 8 20 +14% +23% 18 7 6,5 18 16 1 0,5 16 6 5,3 1 14 4 1,4 Million tons Million tons 5 0,5 12 3 4 1,4 1,6 10 5 8 4 3 1,4 6 2 3,0 4 7 7 1 1,9 2 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 8: Shipping volumes
Shipping volumes Ferries MPSV Botnica 2000 100% 100% 100% 1759 140 1800 1560 1600 120 80% Thousand PAX/vehicles 1400 76% 75% 100 92 92 1200 60% 80 days 1000 879 906 862 800 740 60 40% 600 389 407 40 400 20% 200 20 0 0 0% Q3 2020 Q3 2021 9M 2020 9M 2021 Q3 2020 Q3 2021 9M 2020 9M 2021 passengers vehi
Slide 9: Results of the Group
Results of the Group in Q3 In thousands Q3 2021 Q3 2020 +/- 9M 2021 9M 2020 +/- Revenue 32 263 31 766 1.6% 81 511 82 055 -0.7% Adjusted EBITDA 17 080 19 909 -14.2% 41 233 46 302 -10.9% Adjusted EBITDA margin 52.9% 62.7% -9.8 50.6% 56.4% -5.8 Operating profit 10 670 14 193 -24.8% 23 109 29 305 -21.1%
Slide 10: Results by business segments
Results by business segments in Q3 Q3 segments (mEUR) 9 months segments (mEUR) Passenger H 5,4 9,7 Passenger H 9,6 20,4 6,8 10,0 12,7 22,6 Cargo H 5,9 10,9 Cargo H 16,9 30,3 7,0 10,3 19,0 29,1 Ferry 3,7 8,6 Ferry 10,2 23,3 4,3 8,3 11,0 22,8 Other 2,1 3,1 Other 4,5 7,6 1,8 3,0 3,6 7,6 0 2 4 6 8 10 12
Slide 11: Cash Flow and Financial Position
Cash Flow and Financial Position Cash Flow statement Financial position 700 In thousands 9M 2021 9M 2020 +/– 600 Cash from operating 39 248 35 447 3 801 500 activities 375 374 Cash used in investing 400 –11 516 –24 788 13 272 activities 591 583 300 Free cash flow (FCF) 27 732 10 659 17 073 41 44 200
Slide 12: Revenue generation
Revenue generation Passenger harbours Cargo harbours 35 50 29 40 30 40 25 6,2 20 10,6 30 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 2020 2021 2020 2021 107 100 25,3 82 MEUR Ferry Other 31,8 32,3 40 10 9 50 22,4 24,3 30 1,6 8 8 30 23 27,9 25
Slide 13: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 20 30 15 25 15 6,4 2,5 20 17 MEUR 10 MEUR 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 12 41 MEUR Ferry Other 40 20 20 6 17 4 10 14 4 0,2 20 11 15 4 2,1 16 13 3,1 10 MEUR 1,8 0 10 MEUR 4
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