Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — AS Tallink Grupp — Q3 2023 Earnings Presentation
16 slides from Tallink Grupp As's earnings presentation, October 2023
Slide 1: Q3 2023 Results Webinar
Q3 2023 Results Webinar AS Tallink Grupp October 2023
Slide 2: Presenters
PRESENTERS PAAVO NÕGENE MARGUS SCHULTS CHAIRMAN OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD 2
Slide 3: Tallink Grupp Operations at 30 Sept 2023
TALLINK GRUPP OPERATIONS AT 30 SEPT 2023 The leading European • Fleet of 15 vessels (5 chartered out) provider of leisure and • Six ferry routes (1 suspended) business travel and sea transportation services in • Four hotels (3 in Tallinn and 1 in Riga) the Baltic Sea region. KEY FACTS 9 MONTHS 2023
Slide 4: Key Takeaways Q3 – The High Season
KEY TAKEAWAYS Q3 – THE HIGH SEASON • EBITDA of EUR 82.1 million • Net debt to EBITDA ratio 2.7 • 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: — 5 vessels on charter a
Slide 5: Fleet by Routes and Chartered Vessels
FLEET BY ROUTES AND CHARTERED VESSELS AS AT 30 SEPT 2023 (1) CHARTERED Long-term Short-term Atlantic Vision Galaxy I Isabelle Silja Europa Oscar Wilde (ex. Star) Notes: (1) Victoria I operates on Tallinn-Helsinki route from October 2023 5
Slide 6: Q3 2023 Overview
Q3 2023 OVERVIEW Selected Key Figures Q3 2022 Q3 2023(1) Change (financials in million euros) Number of passengers 1,893,603 1,775,821 -6.2% • Revenue EUR 240.7m (EUR -14.9m or 5.8% vs LY) Number of cargo units 102,399 75,701 -26.1% — Less vessels in operations and lower number of trips Number of pa
Slide 7: Q3 2023 Sales & Results by Geographical Segments
Q3 2023 SALES & RESULTS BY GEOGRAPHICAL SEGMENTS SALES (in million euros) 280 255.6 2.0 -10.0 Estonia-Finland -7.1 0.6 240.7 240 -0.3 The segment reflects operations of two shuttle vessels 200 – MyStar and Megastar. The cruise ferry Silja Europa 160 has been chartered out since August 2022. 120 80 E
Slide 8: Q3 2023 Sales by Operational Segments
Q3 2023 SALES BY OPERATIONAL SEGMENTS IN MILLION EUROS 280 255.6 -9.6 0.6 0.6 -3.2 -4.6 1.3 240.1 Revenue Structure in Q3 2023 240 200 Accommodation 160 2% Cargo 120 9% 80 40 Charter 9% 0 (1) Restaurant & Other Q3 2022 Restaurant & Ticket Sales of Accommo- Income from Other Q3 2023 shops sales 2% sh
Slide 9: Dynamics of Seasonality
DYNAMICS OF SEASONALITY PASSENGERS (millions) CARGO (th. units) 9.8 500 8 410 400 380 360 369 6 3.0 5.5 96 94 82 101 1.3 4.4 300 248 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 2020 20
Slide 10: Dynamics of Seasonality
DYNAMICS OF SEASONALITY QUARTERLY NET RESULT (IN MILLION EUROS) 2019 2020 2021 2022 2023(1) 70 net profit 50M€ net loss 108M€ net loss 57M€ net profit 14M€ net profit 77M€ 50 30 55 49 38 33 10 17 15 5 6 -3 -5 -10 -25 -24 -27 -24 -30 -27 -34 -40 -30 -50 MOST OF PROFITS ARE TYPICALLY EARNED IN SUMMER,
Slide 11: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT IN MILLION EUROS 2021 2022 Q3 2022 Q3 2023(2) Sales 477 771 256 241 Cost of sales (1) -455 -658 -190 -163 Marketing & administrative cost (1) -75 -87 -22 -22 Other operating items, net 16 11 -1 -1 EBITDA 58 136 68 82 Margin (%) 12.2% 17.6% 26.5% 34.1% Net Result -57 14
Slide 12: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT IN MILLION EUROS 2021 2022 Q3 2022 Q3 2023(1) Operating cash flow 59 144 60 60 Capital expenditure -20 -203 -6 -6 Asset disposal 1 3 0 0 Free cash flow 40 -56 55 54 Debt financing (net effect) 45 69 -36 -39 Interests & other financial items -20 -25 -7 -8 Increase of
Slide 13: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION IN MILLION EUROS 31.12.2021 30.09.2022 31.12.2022 30.09.2023(2) 1750 Total assets 1,586 1,535 1,692 1,597 Cash Other Intangibles liabilities Non-current assets 1,383 1,338 1,496 1,447 Other 1400 assets Current assets 203 197 196 150 - of which cash 128 10
Slide 14: Loan Portfolio Structure
LOAN PORTFOLIO STRUCTURE LONG-TERM BANK LOANS • EUR 591 million as at 30 September 2023 900 84.2 90 • 7 loan agreements outstanding: syndicated loans, 800 80 amortizing project and working capital loans 700 70 • Maturities 13 months – 11 years 600 16 60 • EUR denominated, fixed and EURIBOR floating
Slide 15: Q&A
Q&A PAAVO NÕGENE CHAIRMAN OF THE MANAGEMENT BOARD 15
Slide 16: Thank You
THANK YOU AS Tallink Grupp Sadama 5, 10111, Tallinn, Estonia www.tallink.com/investors investor@tallink.ee 16