Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — AS Tallink Grupp — Q1 2025 Earnings Presentation
33 slides from Tallink Grupp As's earnings presentation, April 2025
Slide 1: Q1 2025 AS Tallink Grupp
Q1 2025 AS Tallink Grupp April 2025
Slide 2: Key facts about Tallink Grupp
Tallink Grupp KEY FACTS ABOUT TALLINK GRUPP as at end of Q1 2025 The leading European provider of 14 vessels 5 regular routes leisure and business travel and sea 12 passenger vessels on the Baltic Sea 2 cargo vessels transportation services in the Baltic Sea region. 2 vessels in charter 3.4 million
Slide 3: Strategic plan
Strategic plan LONG TERM OBJECTIVES TOWARDS INCREASING THE COMPANY VALUE AND PROFITABILITY • Strive for the highest level of customer satisfaction • Improve profitability and strengthen the leading position on our home markets • Develop a wide range of quality services directed at different customer
Slide 4: Highlights and milestones
Highlights and milestones Operations St. Petersburg Bn . Siac siocthoin — + Finions- Germany 2 —————_ sf Fintond sweden BD @ Estonia —Finiond fe Bi esoria Suede QD Hotel operations 2002 2003 »=«200h +2005 2006. -~=« «2007/2008 «= 2009S 2010200122013 20th 201016207 aoe 202020» 20m =a . i Newbuilt ves
Slide 5: Fleet by routes and chartered vessels end of Q1 2025
Fleet by routes and chartered vessels end of Q1 2025 Tallinn - Helsinki Helsinki - Stockholm Chartered In lay-up Megastar Silja Symphony Galaxy I Romantika Vessel type High-speed ro-pax Vessel type Cruise ferry Built/renovated 2017 Vessel type Cruise ferry Vessel type Cruise ferry Built/renovated 19
Slide 6: Routes & passengers
Routes & passengers Passengers in 2024 Finland 47% Estonia 23% Europe 10% Sweden 7% Asia 4% Latvia 2% Lithuania 2% Other 5% 6
Slide 7: Passenger operations market share
Passenger operations Turku - Stockholm market share 46% 45% 42% 49% 60% 71% Northern Baltic passenger market 75% ~14 million passenger in 2024 54% 55% 58% 51% 40% 29% 25% 2018 2019 2020 2021 2022 2023 2024 Tallinn - Helsinki Helsinki - Stockholm 7% Tallink 17% 17% 17% 17% 21% 21% 24% 27% 27% 29% 28%
Slide 8: Cruise ferry
Cruise ferry 927 cabins, 2800 passengers Buffet Nightclub Tango lounge Conference Shops, pubs, restaurants Show bar
Slide 9: Shuttle vessel
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Slide 10: Technology
Technology hoya tte AP P
Slide 11: Business model
Business REVENUE STRUCTURE 2024 model Product offering Cargo 11% RETAIL AND LEISURE SIDE Restaurant & shop sales Accommodation • Onboard Catering 48% 2% • Onboard Tax-Free Shopping Charter • Hotel & Travel Packages 8% INFRASTRUCTURE SIDE Other 2% • Overnight Cruises & Passenger Trasnportation • Carg
Slide 12: Position in the global ferry market
Position in the global ferry market THE WORLD'S TOP DUTY FREE & TRAVEL RETAIL SHOPS FERRY OPERATOR BY GROSS TONS Rank Company Gross tons 1 Grimaldi Group 1,199,747 Ranking by actual retail sales in 2023 2 Stena Line 973,572 3 Grand Navi Veloci 831,514 Rank Location Country Turnover (€m) 4 Onorato Ar
Slide 13: Retail brands on board
WesSaInTAURENT BALLY Pau: Bor VERSACE CLARINS aituaus... ESTEE LAUDER YOY CAROLINA HERRERA SENSAI © victoriox DOICEsGABBANA PACO rabanne THE SKINCARE MAKEUP™ SIFJAKOBS LINDBERGH Alexander MCQUEEN ElizabethArden = SHUEIDO POLO ToMFoRD MICHAEL KORS cCS3ANI7T. TOMMY BHILFIGER BURBERRY cameu scrve)<=] M
Slide 14: Dining concepts on our vessels
Dining concepts on our vessels Our brands and international premium brands BUFFET RESTAURANTS FINE DINING RESTAURANTS À LA CARTE RESTAURANTS QUICK SERVICE RESTAURANTS 14
Slide 15: Safety, security and environmental protection are a high priority
Safety, security and environmental protection are a high priority
Slide 16: Sustainability focus areas and goals
Sustainability focus areas and goals 16
Slide 17: Focus on Innovation
Focus on Innovation Tallink Grupp is investing in innovation and TOTAL CO2 EMISSIONS technology for the Baltic Sea including: 1200 • 0.5 billion euros in eco-friendly vessels 1000 and • 20 million euros in green technologies. 800 The 62% reduction in CO2 emissions has been achieved by investing in:
Slide 18: Policies and certifications
Policies and certifications • ISO 14001:2015 Environmental Certificate by Lloyds Register • International Anti-Fouling System Certificate • MARPOL International Energy Efficiency Certificate • MARPOL International Sewage Pollution Prevention Certificate • MARPOL International Air Pollution Preventio
Slide 19: Employees of Tallink Grupp
Employees of Tallink Grupp As of December 31, 2024 Emplyee split by countries 3005 w — 4h uy 953 Empl + ae = L847 ou wy w? 7.8 Average years spent in the company Employees iH on-shore 1760 & Employees on-board 3087 VY TALLINK | SILJA LINE /2 Gender split Women men 55% | 45% oOo Average age of employ
Slide 20: Q1 2025 revenues
Q1 2025 revenues Selected Key Figures • Revenue EUR 137.3m (EUR -23.1m or -14.4% vs LY) Q1 2024 Q1 2025(1) Change (financials in million euros) — Dry docking of two cruise ferries from Finland-Sweden Number of passengers 1,102,738 970,359 -12.0% routes, Silja Serenade and Baltic Princess, in total o
Slide 21: Sales & results by geographical segments Q1 2025
Sales & results by SEGMENT SALES (in million euros) geographical 200 2 160 -8.4 -1.6 -6.7 segments Q1 2025 160 1 -6.6 0.2 137 120 80 ESTONIA-FINLAND The segment reflects operations of two shuttle vessels – 40 MyStar and Megastar and the cruise ferry Victoria I. 0 ESTONIA-SWEDEN Q1 Estonia Estonia Fi
Slide 22: Sales by operational segments Q1 2025
Sales by Cargo REVENUE STRUCTURE Q1 2025(1) operational 14% Accommodation 2% segments Q1 2025 Restaurant & shop sales 49% Charter 8% Other 2% • As at the end of Q1 2025 a total of 2 Ticket sales 25% vessels on charter, compared to 4 vessels in Q1 2024 • Revenues impacted by dry docking of two REVENU
Slide 23: Dynamics of seasonality
Dynamics of seasonality Passengers (millions) Cargo (th. units) 9.8 500 10 410 2.3 400 380 360 369 8 324 96 5.7 94 303 5.5 5.6 300 82 101 6 3.0 76 65 Q4 102 3.7 1.3 1.3 1.3 93 92 91 4 200 76 67 Q3 3.0 1.9 1.8 1.7 109 2.7 100 87 1.3 1.1 92 85 87 Q2 2 1.6 1.5 1.5 1.0 100 58 1.9 1.1 93 100 102 1.6 1.0
Slide 24: Dynamics of seasonality
Dynamics of seasonality Quarterly net result (in million euros) 2019 … 2022 2023 2024 2025(1) net profit 50M€ net profit 14M€ net profit 79M€ net profit 40M€ net loss 33M€ 70 50 30 55 49 38 33 37 10 15 17 6 2 3 5 -5 -5 -10 -25 -33 -40 -30 -50 Notes: (1) 2025 unaudited Most of profits are typically e
Slide 25: Consolidated income statement
Consolidated income statement In million euros 2023 2024 Q1 2024 Q1 2025(2) Sales 835 786 160 137 Cost of sales (1) -631 -632 -147 -142 Marketing & administrative cost (1) -95 -97 -23 -23 Other operating items, net 4 21 19 1 Result from operating activities 113 77 10 -27 EBITDA 215 175 34 -4 EBITDA
Slide 26: Consolidated cash flow statement
Consolidated cash flow statement In million euros 2023 2024 Q1 2024 Q1 2025(1) Operating cash flow 203 158 17 -9 Capital expenditure -28 -22 -6 -13 Asset disposal 1 25 24 0 Interest received 1 1 0 0 Free cash flow 177 162 35 -22 Debt financing (net effect) -213 -106 -21 25 Interests & other financia
Slide 27: Consolidated statement of financial position
Consolidated statement of financial position In million euros 31.12.2023 31.12.2024 31.03.2025(2) 31.03.2025(2) Total assets 1,555 1,463 1,471 Cash Intangibles Non-current assets 1,432 1,356 1,350 1400 Other Current assets 123 108 121 Other liabilities assets - of which cash 42 19 16 Total liabiliti
Slide 28: Loan portfolio structure
Loan portfolio structure LONG-TERM BANK LOANS 700 84.2 90 16 80 600 • EUR 435 million as at 31 March 2025 70 • 3 loan agreements outstanding: syndicated 500 loan and two ship building loans 60 • Maturing 4 – 10 years 400 746 50 • EUR denominated, fixed and EURIBOR floating 663 40 300 587 555 476 469
Slide 29: 38,190 shareholders and FDR-holders
38,190 shareholders and FDR-holders incl. 29,961 on Tallinn Stock Exchange (TAL1T) and 8,229 on Helsinki Stock Exchange (FI4000349378) as at 31 March 2025
Slide 30: Shareholders and share performance
Shareholders and share performance Infortar AS 68.5% Nordea Bank Abp / Clients FDR 3.2% Mersok OÜ 1.5% Clearstream Banking AG 1.1% Retail investors Luksusjaht AS 1.0% 12% Citibank (New York) / Government of Norway 0.9% Institutional Enn Pant 0.9% investors Unicredit Bank Austria AG 0.8% 8% AB SEB Ba
Slide 31: Management board
Management board Paavo Nõgene Born in 1980 CEO since May 2018 Elise Nassar Harri Hanschmidt Piret Mürk-Dubout Margus Schults Born in 1991 Born in 1982 Born in 1970 Born in 1966 Member of Management Board Member of Management Board Member of Management Board Member of Management Board since March 202
Slide 32: Supervisory board
Supervisory board Enn Pant Born in 1965 Chairman of Supervisory Board since 2015 CEO of AS Tallink Grupp in 1996-2015 Ain Hanschmidt Toivo Ninnas Eve Pant Kalev Järvelill Raino Paron Born in 1961 Born in 1940 Born in 1968 Born in 1965 Born in 1965 with the Supervisory Board with the Supervisory Boar
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