Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — AS Tallink Grupp — Q4 2025 Earnings Presentation
17 slides from Tallink Grupp As's earnings presentation, February 2026
Slide 1: Q4 2025 AS Tallink Grupp
Q4 2025 AS Tallink Grupp February 2026
Slide 2: Presenters
Presenters PAAVO NÕGENE MARGUS SCHULTS HARRI HANSCHMIDT CHAIRMAN OF THE MANAGEMENT MEMBER OF THE MANAGEMENT MEMBER OF THE MANAGEMENT BOARD BOARD BOARD 2
Slide 3: Tallink Grupp in glance as at the end of 2025
Tallink Grupp TALLINK GRUPP in glance as at the end of 2025 The leading European provider of leisure and business travel and sea transportation services in the Baltic 11 vessels incl 5 regular routes Sea region. 9 passenger & on the Baltic Sea 2 shuttle vessels 3 vessels in charter incl 3.5 million
Slide 4: Fleet composition & deployment
Fleet composition & deployment Tallinn - Helsinki Tallinn - Stockholm Helsinki - Stockholm Megastar Baltic Queen Silja Symphony Vessel type High-speed ro-pax Built/renovated 2017 Vessel type Cruise ferry Vessel type Cruise ferry Route Estonia-Finland Built/renovated 2009 Built/renovated 1991 Other i
Slide 5: Q4 2025 and FY25 highlights
Q4 2025 and FY25 highlights Selected Key Figures — Challenging year due to low consumer confidence and (financials in million Q4 2024 Q4 2025(1) QoQ% 2024 2025(1) YoY% uncertain market environments. euros) Number of passengers 1,310,014 1,306,310 -0.3% 5,580,016 5,531,132 -0.9% — Q4 2025 results pos
Slide 6: Sales & results by geographical segments Q4 2025
Sales & results by SEGMENT SALES (in million euros) geographical 200 184 6 1.4 1.3 0.0 1.6 0.0 188 segments Q4 2025 160 120 80 • The Group accounts for 48% of passenger traffic between Estonia-Finland and 36% 40 between Finland-Sweden. 0 • The Group is the only operator providing Q4 Estonia Finland
Slide 7: Sales by operational segments Q4 2025
Sales by Ticket sales Cargo REVENUE STRUCTURE Q4 2025(1) operational 25% 10% Accommodation 2% segments Q4 2025 Charter 8% Other • Weak consumer confidence continues to 6% impact share of wallet spent on free time. Restaurant & shop sales • Sale of cargo transportation that remains 49% challenging du
Slide 8: Dynamics of seasonality
Dynamics of seasonality Passengers (millions) Cargo (th. units) 5.7 5.6 500 6 5.5 5.5 410 1.3 1.3 1.3 1.3 400 96 324 303 4 300 Q4 1.9 1.8 1.7 1.8 102 76 65 245 200 76 67 60 Q3 2 1.5 1.5 109 60 1.6 1.5 85 87 100 Q2 67 1.0 1.1 1.0 102 87 85 Q1 0 58 0 2022 2023 2024 2025 2022 2023 2024 2025 Revenue (in
Slide 9: Dynamics of seasonality
Dynamics of seasonality Quarterly net result (in million euros) 2022 2023 2024 2025(1) net profit 14M€ net profit 79M€ net profit 40M€ net profit 17M€ 70 50 30 49 38 37 41 33 10 17 6 2 3 12 -5 -5 -3 -10 -33 -40 -30 -50 Notes: (1) 2025 unaudited Most of profits are typically earned in summer, the hig
Slide 10: Consolidated income statement
Consolidated income statement In million euros 2024 2025 Q4 2024 Q4 2025(2) Sales 786 765 184 188 Cost of sales (1) -632 -622 -158 -146 Marketing & administrative cost (1) -97 -96 -25 -27 Other operating items, net 21 3 1 2 Result from operating activities 77 50 1 17 Income tax -9 -12 0 0 EBITDA 175
Slide 11: Full year cost breakdown
Full year cost breakdown (in million euros) 2024 2025(4) Change Net finance cost Cost of goods 163.9 160.5 -2.1% Depreciation and 2.9% amortisation 10.7% Staff costs 142.8 150.2 5.1% Cost of goods 21.6% Marketing & Administration (1)(2) 85.5 85.7 0.3% Other costs³ 2.3% Port & Stevedoring 73.3 75.0 2
Slide 12: Consolidated cash flow statement
Consolidated cash flow statement In million euros 2024 2025 Q4 2024 Q4 2025(1) Operating cash flow 153 127 31 25 Capital expenditure -22 -33 -6 -6 Asset disposal 25 79 0 8 Interest received 1 0 0 0 Free cash flow 156 173 25 27 Debt financing (net effect) -106 -112 -32 -19 Interests & other financial
Slide 13: Consolidated statement of financial position
Consolidated statement of financial position In million euros 31.12.2024 30.09.2025(2) 31.12.2025(2) 31.12.2025(2) Total assets 1,464 1,359 1,331 1400 Cash Non-current assets 1,356 1,239 1,225 Other liabilities Current assets 108 120 106 Other assets - of which cash 19 32 13 1050 Total liabilities 6
Slide 14: Loan portfolio structure
Loan portfolio Long-term bank loans structure 800 84.2 90.0 700 80.0 • Long-term bank loans of EUR 371.7 million as at 31 December 2025: 70.0 600 16 — 3 loan agreements outstanding: 60.0 syndicated loan and two ship 500 building loans; 50.0 400 746 3 40.0 — Maturing 3 – 9 years; 663 300 587 555 30.0
Slide 15: Proposed dividend of 6 cents per share in 2026
With the approval of the Supervisory Board, the Management Board has resolved to propose to the General Meeting of Shareholders the payment of a dividend of 6 cents per share in 2026
Slide 16: Q&A
Q&A PAAVO NÕGENE CHAIRMAN OF THE MANAGEMENT BOARD 16
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