Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — AS Tallink Grupp — Q4 2023 Earnings Presentation
23 slides from Tallink Grupp As's earnings presentation, February 2024
Slide 1: Q4 & 12 months 2023 AS Tallink Grupp
Q4 & 12 months 2023 AS Tallink Grupp February 2024
Slide 2: Presenters
Presenters PAAVO NÕGENE HARRI HANSCHMIDT MARGUS SCHULTS KATRI LINK CHAIRMAN OF THE MANAGEMENT MEMBER OF THE MANAGEMENT MEMBER OF THE MANAGEMENT GROUP HEAD OF BOARD BOARD BOARD COMMUNICATIONS AND ESG 2
Slide 3: Tallink Grupp key facts as at 31 Dec 2023
Tallink Grupp KEY FACTS ABOUT TALLINK GRUPP as at 31 DEC 2023 The leading European provider of 15 vessels 5 regular routes leisure and business travel and sea 13 passenger vessels on the Baltic Sea 2 cargo vessels transportation services in the Baltic Sea region. 5 vessels in charter 3.1 million Bot
Slide 4: Tallink Grupp in 2023
Tallink Grupp in 2023 • Revenue of EUR 835.5 million • EBITDA of EUR 214.5 million • Net profit of EUR 78.9 million • Served 5.7 million passengers • Transported 324 thousand cargo units • Operated EUR 1.6 billion asset base • 4,912 employees at the end of FY 2023 • 3.1 million loyalty program membe
Slide 5: Key takeaways
Key takeaways WRAP-UP OF THE YEAR – Q4 2023 • EBITDA of EUR 36.8 million • Net debt to EBITDA ratio 2.8 • Impact of low fuel market prices set off partly by high logistics cost component in fuel price, interest rates and inflation • Chartering of vessels supporting stable cash flows. As at 31 Decemb
Slide 6: Fleet by routes and chartered vessels
Fleet by routes and chartered vessels 6
Slide 7: Q4 2023 revenues
Q4 2023 revenues Selected Key Figures • Revenue EUR 193.7m (EUR -9.9m or -4.9% vs LY) Q4 2022 Q4 2023(1) Change (financials in million euros) — 39.0% decrease in chartering revenues due to less Number of passengers 1,296,047 1,338,921 3.3% vessels on charter Number of cargo units 96,052 76,198 -20.7
Slide 8: Sales & results by geographical segments Q4 2023
Sales & results by SALES (in million euros) geographical 240 200 204 8 9.3 -0.3 -11.0 -8.1 0.2 194 segments Q4 2023 160 120 ESTONIA-FINLAND 80 The segment reflects operations of two shuttle vessels – 40 MyStar and Megastar and the cruise ferry Victoria I 0 since October 2023 Q4 Estonia Estonia Finla
Slide 9: Sales by operational segments Q4 2023
Sales by REVENUE STRUCTURE Q4 2023(1) operational Cargo 11% segments Q4 2023 Accommodation 2% Restaurant & shop sales Charter 50% 10% Other • As at the end of Q4 2023 total of 5 vessels 3% on charter compared to 6 vessels in Ticket sales Q4 2022 24% • High competition in cargo transportation market
Slide 10: FY2023 revenues
FY2023 revenues Selected Key Figures 2022 2023(1) Change (financials in million euros) • Revenue EUR 835.3m (EUR +63.9m or 8.3% vs LY) Number of passengers 5,462,085 5,705,600 4.5% — 53.7% increase in chartering revenues Number of cargo units 409,769 323,990 -20.9% — Strong result in accommodation a
Slide 11: Dynamics of seasonality
Dynamics of seasonality Passenger (millions) Cargo (th. units) 9.8 500 8 410 5.7 400 380 360 369 6 3.0 5.5 96 324 94 82 101 1.3 1,3 300 76 Q4 3.7 102 4 93 92 91 2.7 3.0 1.9 1.8 200 76 Q3 1.3 1.1 100 87 109 2 1.5 92 85 Q2 1.6 100 1.9 1.1 1.6 1.0 93 100 85 102 87 Q1 0 0 2019 2020 2021 2022 2023 2019 2
Slide 12: Dynamics of seasonality
Dynamics of seasonality Quarterly net result (in million euros) 2019 2020 2021 2022 2023(1) net profit 50M€ net loss 108M€ net loss 57M€ net profit 14M€ net profit 79M€ 70 50 30 55 49 38 33 10 17 15 2 5 6 -3 -5 -10 -24 -27 -25 -30 -27 -24 -34 -40 -30 -50 Notes: (1) 2023 unaudited Most of profits are
Slide 13: Sales & results by geographical segments FY2023
Sales & results by SALES (in million euros) geographical 1000 1 771 -17 49 -1 853 14 segments FY2023 3 20 800 600 400 ESTONIA-FINLAND The segment reflects operations of two shuttle vessels – 200 MyStar and Megastar and the cruise ferry Victoria I since October 2023. The cruise ferry Silja Europa has
Slide 14: Sales by operational segments FY2023
Sales by REVENUE STRUCTURE 2023(1) Cargo Accommodation operational 11% 2% Restaurant & segments FY2023 shop sales Charter 47% 12% Other 2% • Chartering of vessels supporting stability Ticket sales of revenues 26% • High competition in cargo transportation 1000 market 835 -12 4 35 -1 771 13 26 800 •
Slide 15: Consolidated income statement
Consolidated income statement In million euros 2022 2023(2) Q4 2022 Q4 2023(2) Sales 771 835 204 194 Cost of sales (1) -658 -631 -162 -159 Marketing & administrative cost (1) -87 -95 -24 -26 Other operating items, net 11 4 6 3 EBITDA 136 215 50 37 Margin (%) 17.6% 23.8% 24.8% 19.0% Net Result 14 79
Slide 16: Full year cost breakdown
Full year cost breakdown (EUR millions) 2022 2023(5) Change Net finance cost⁴ 4.7% Depreciation and Cost of goods 160.6 170.6 6.2% amortisation 13.3% Cost of goods Staff costs 120.0 131.7 9.8% 22.4% Marketing & Administration (1)(2) 74.3 83.0 11.7% Port & Stevedoring 77.2 69.9 -9.4% Other costs³ 2.5
Slide 17: Consolidated cash flow statement
Consolidated cash flow statement In million euros 2022 2023(2) Q4 2022 Q4 2023(2) Operating cash flow 144 203 57 34 Capital expenditure -203 -28 -180 -6 Asset disposal 3 1 0 0 Free cash flow -56 177 -122 29 Debt financing (net effect) 69 -213 141 -40 Interests & other financial items -25 -37 -7 -11
Slide 18: Consolidated statement of financial position
Consolidated statement of financial position In million euros 31.12.2021 31.12.2022 30.09.2023 31.12.2023(2) 31.12.2023(2) Total assets 1,586 1,692 1,597 1,555 Cash Intangibles Other Non-current assets 1,383 1,496 1,447 1,432 1400 liabilities Other Current assets 203 196 150 123 assets - of which ca
Slide 19: Loan portfolio structure
Loan portfolio structure 900 90 84.2 LONG-TERM BANK LOANS 800 80 700 70 • EUR 555 million as at 31 December 2023 • 3 loan agreements outstanding: syndicated 600 16 60 loan and two ship building loans 500 50 • Maturing 5 – 11 years • EUR denominated, fixed and EURIBOR 400 40 floating 746 663 300 587
Slide 20: Proposed dividend of 6 cents per share for 2023
Concorded with the Supervisory Board of the Group, the Management Board has decided to prepare a proposal to the General Meeting of Shareholders to pay a dividend of 6 cents per share in 2024 for the financial year of 2023
Slide 21: ESG focus areas in 2024
ESG focus areas in 2024 TOTAL CO2 EMISSIONS 1 200 000 • 2023 and 2024 focus on achieving compliance with CSRD requirements and new reporting standards 1 000 000 960 123 924 185 861 991 • First CSRD compliant ESG report published in 771 116 785 978 2025 with limited audit assurance 800 000 743 899 66
Slide 22: Q&A
Q&A PAAVO NÕGENE CHAIRMAN OF THE MANAGEMENT BOARD 22
Slide 23: a — ee ;
a — ee ; — __ | SILJA LIN