Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Shareholder Meeting (April 2022)
58 slides from Tallinna Sadam As's shareholder meeting presentation, Apr 6, 2022
Slide 1: Tallinna Sadam AGM webinar
Tallinna Sadam AGM webinar Webinar 10.05.2021 06.04.2022
Slide 2: Resolutions of the shareholders and overview of the activities of the supervisory board
Resolutions of the shareholders and overview of the activities of the supervisory board Aare Tark Chairman of the supervisory board
Slide 3: Resolutions of the shareholders
Resolutions of the shareholders 1. Approval of the Annual Report 2021 2. Profit allocation 3. Amendment of the Articles of Association 4. Approval of the remuneration principles of the supervisory board and the management board 5. Election of the members of the supervisory board
Slide 4: Activities of the supervisory board in 2021
Cash Flow and Financial Position Activities of the supervisory board in 2021 • No changes in the composition of the supervisory board • 8 meetings of the supervisory board, participation 100% • 7 meeting of the audit committee, participation 100% • Foundation of the remuneration committee – 2 meetin
Slide 5: Main aspects of the strategy
Main aspects of the strategy • We will become the most innovative port in the Baltic Sea, because innovation creates a competitive advantage • We meet owners' expectations for efficiency and profitability and deliver on our dividend promise • We are growing moderately in all four business areas • Ou
Slide 6: Additional focus of the strategy
Cash Flow and Financial Position Additional focus of the strategy Environmentally friendly and sustainable solutions • The port offers modern infrastructure for bunkering alternative fuels, the group's fleet uses environmentally friendly fuels and the port and the companies operating in it follow th
Slide 7: Management board
Management board Valdo Kalm Andrus Ait Margus Vihman Chairman of the management board member of the management member of the management board / CFO board / CCO
Slide 8: Supervisory board
sõltumatu Supervisory board Aare Tark Ahti Kuningas Maarika Liivamägi Raigo Uukkivi (chairman of the SB, (remuneration committee) (audit committee) (audit committee) chairman of the remuneration committee) Urmas Kaarlep Üllar Jaaksoo Riho Unt Veiko Sepp (chairman of the audit committee) (remuneratio
Slide 9: Successful year - recognitions 2021
Successful year- recognitions 2021 • Nasdaq Baltic Awards 2021 –Investor relations of the year • Among the top ten most valuable companies in Estonia by Prudentia Advisory and Nasdaq Tallinn • Responsible Business Award Silver Labels for Port of Tallinn and TS Laevad • Environmental awards of the ye
Slide 10: Annual review and future outlook
Annual review and future outlook Valdo Kalm Chairman of the management board
Slide 11: Main events and influencers of 2021
Main events and influencers of 2021 • Record cargo volumes in 6 years • Restart of cruises and Tallinn-Stockholm ferry line • The continuing impact of COVID-19 on passenger numbers • Completed urban development investments at old City harbour – landmarks of the area • The continuation of investments
Slide 12: Passengers Development projects
Passengers Development projects
Slide 13: Cruise terminal with the promenade
Cruise terminal with the promenade completed in July 2021 • Open public space and greenery • Restorant and promenade for everyone • Multifunctional building
Slide 14: Admiral bridge
Admiral bridge SIA WITTEVEEN + BOS LATVIA, Arhitect: Plein06 / Design contest 2017 Completed in August 2021 • Connecting the shores and districts (Pirita and Kalamaja) and passenger terminal areas • Landmark of the area
Slide 15: D-terminal parking house
D-terminal parking house Arhitect: R-Konsult Completed in February 2021
Slide 16: D-terminal square 2021-2022
D-terminal square 2021-2022 • Renewed urban environment - terminal service areas • Intertwined with the city park
Slide 17: Kick-off the new A-terminal 2022+
Kick-off the new A-terminal 2022+ International architectural competition
Slide 18: New tram line
New tram line • The route is approved • Ready by 2024 • EU funding EUR 26 million
Slide 19: Real Estate Development projects 2022+
Real Estate Development projects 2022+
Slide 20: Restaurant building at the Admiralty basin
Restoran building at the Admirality basin 2022-2024 Laeva 5
Slide 21: Areas of Old City Harbour's detail planning
Areas of Old City Harbour’s detail planning
Slide 22: Versatile urban space
Versatile urban space • A new level of mobility service • A new tram line • bike paths-sidewalks • reduced parking, car sharing services • 15-minute city planning • Use of renewable energy sources, including district heating-cooling based on seawater • Energy efficient buildings • Implementation of
Slide 23: Industrial parks
Industrial parks Want to access 480 million consumers within 72 hours? Bring your project of the future to Port of Tallinn Muuga harbour industrial park 76ha Paldiski South harbour industrial park 39ha • Good location, immediate closeness of the harbour • Good access to berths and terminals • Great
Slide 24: Cargo Development projects
Cargo Development projects
Slide 25: Katoen Natie extension
Katoen Natie extension 10 000 m² new storage space
Slide 26: HHLA TK post-panamax cranes 2021-2022
HHLA TK post-panamax cranes 2021-2022 Ensuring to serve all container ships passing through the Danish Straits
Slide 27: Rail Baltica freight terminal
Rail Baltica freight terminal Loading options from sea, road and rail transport. Design 2020-2022 (Sweco Projekt AS) Capacity of 4-5 million tons per year. Planned construction by 2023-2025 Serves 1435 mm and 1520 mm wide railways. Funded by the Connecting Europe Facility (CEF I) resourc
Slide 28: Future building and servicing base of off-shore wind farms
Future building and servicing base of off-shore wind farms • Paldiski South harbour – perfect base for building and maintenance of wind farms • Building an additional berth • Pre-design project 2021 • Design 2022
Slide 29: Map of off-shore wind farms servicing ports
Map of off-shore wind farms servicing ports • The concentration is at North Sea, nothing at the shores of Baltic sea.
Slide 30: LNG and hydrogen opportunities in maritime and logistics
LNG and hydrogen opportunities in maritime and logistics • Hydrogen storage sites, possible LNG and hydrogen terminals on Pakri peninsula, Paldiski South harbour and Muuga harbour • Upgrade of the port auxiliary fleet
Slide 31: Shipping
Shipping
Slide 32: TS Shipping
TS Shipping • 2021 - a successful year • Agreement of the new period (20.12.2022-20.04.2032) with the Estonian state • Opportunities with offshore wind farms
Slide 33: TS Laevad
TS Laevad • Recovery of volumes 2021 • Ferry Tõll accident 2021 and continuation as hybrid ship 2022 • Electrification of ferries • Preparing for the procurement of the new period 2026-2036 • Looking for growth opportunities • Customer and employee satisfaction
Slide 34: Sustainability
Sustainability
Slide 35: Tallinna Sadam Group's greenhouse gas emissions
Tallinna Sadam Group’s greenhouse gas emissions Scope 1-2 30000 26 909 25000 24 150 23 216 20000 Heat consumption tonnes CO2 ekv 15000 20562 Movable equipment 18783 20644 10000 Vessels owned by Tallinna Sadam Electricity consumption 5000 4903 4016 0 987 2019 2020 2021
Slide 36: Reducing the carbon footprint
Reducing the carbon footprint • Port of Tallinn consumes renewable electricity • Discounts on port fees for environmentally friendly ships (based on Environmental Shipping Index) • Automooring equipment and onshore power for regular ferries at the Old City Harbour • Electrification of passenger ferr
Slide 37: Green maritime corridors in Northern Europe and the Baltic Sea
Green maritime corridors in Northern Europe and the Baltic Sea • Possible routes, ship types and fuels • Technical, regulatory and commercial feasibility of routes
Slide 38: Cooperation and community projects
Cooperation and community projects • Tallinn – European Green Capital 2023 • Green Tiger Creating a clean future together • Seabin – for cleaner oceans • Sea starts here Preventing cigarette butt littering • World Clean Up Day
Slide 39: Financial results and dividend proposal
Financial results and dividend proposal Andrus Ait Member of the management board / CFO
Slide 40: Passengers and PAX vessel calls
Passengers and PAX vessel calls 12 10000 10,6 Other 10,6 10,6 9000 10 0,6 0,7 0,7 8000 Cruise 1,0 1,0 0,9 7000 8 Tallinn-St. Petersburg millions of passengers 6039 5898 6111 6000 5451 5679 vessel calls 6 5000 Muuga-Vuosaari 4,3 4000 8,8 8,8 8,8 Tallinn-Stockholm 4 3,5 3000 2000 Tallinn-Helsinki 2 4,
Slide 41: Cargo and cargo vessel calls
Cargo and cargo vessel calls 25 3500 22,4 21,3 Ro-ro 20,6 19,9 3000 20 19,2 5,6 6,5 Containers 5,3 5,4 2500 5,1 15 1,9 1,8 1,9 2000 General cargo million tons vessel calls 1,9 1,8 1 677 1 754 1 743 1 654 1 637 1500 10 3,9 4,4 4,7 4,5 Dry bulk 4,1 1000 5 8,8 9,1 8,8 Liquid bulk 7,4 7,6 500 0 0 Cargo
Slide 42: Shipping: ferry segment operating volumes and Botnica charter
Shipping Ferry segment's operating volumes MPSV Botnica charter 3,0 300 100% 2,5 2,3 2,4 2,2 2,2 250 80% millions of passengers/vehicles 2,0 72% 73% 2,0 200 66% 68% 60% days 1,5 150 1,0 1,0 1,1 1,0 1,0 40% 1,0 100 30% 20% 0,5 50 0,0 0 0% 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Passengers V
Slide 43: Future affecting aspects and possibilities
Future affecting aspects and possibilities • Continuing effect of COVID-19 pandemic on passenger business • Russian-Ukrainian war • Sanctions on Russia • Restructuring of supply chains • Ensuring energy security in Europe • War refugees • Unstable global economic situation • Increasing input cost ba
Slide 44: Results of the Group
Results of the Group in Q1 Financial results tuh EUR 2021 2020 +/- Revenue 110 051 107 358 2.5% Adjusted EBITDA 54 046 58 423 -7.5% Adjusted EBITDA margin 49.1% 54.4% -5.3 Operating profit 29 758 35 562 -16.3% Income tax -3 275 -4 913 -33.3% Profit for the period 25 612 28 518 -10.2% Investments 14
Slide 45: Revenue and profitability
Results of the Group in Q1 Revenue and profitability 140 131 131 100% 121 90% 120 107 110 80% 100 70% Revenue 60% 57% 57% EUR million 80 55% 54% 49% 50% Adjusted EBITDA 60 40% Adjusted EBITDA margin 40 30% 67 74 74 58 54 20% 20 10% 0 0% 2017 2018 2019 2020 2021
Slide 46: Results of the segments
Results of the Group in Q1 Results of the segments (EUR million) Passenger H 13,7 28,8 15,1 28,8 Cargo H 22,3 40,7 25,4 39,7 Ferry 12,5 30,7 14,1 29,7 Other 5,6 9,9 3,8 9,2 0 5 10 15 20 25 30 35 40 45 Adjusted EBITDA 2021 Adjusted EBITDA 2020 Revenue 2021 Revenue 2020
Slide 47: Dividend proposal
Cash Flow and Financial Position Dividend proposal • Dividend policy: Dividends paid 40 200% • To pay out annually at least 70% of its previous 35 180% year’s profit 35 30 160% • Dividend proposal EUR 0.097 per share 30 144% 26 140% (EUR 25.511 million in total) 25 120% 20 EUR million • Change of di
Slide 48: Amendment of the Articles of Association; Remuneration principles
Amendment of the Articles of Association Remuneration principles of the supervisory board and the management board Erly Lüdig Head of the legal department
Slide 49: Amendment of the Articles of Association
Cash Flow and Financial Position Amendment of the Articles of Association Pursuant to the amendment to 81 (1) p 31 of the State Assets Act, which entered into force on 1 January 2022, the exercise of the shareholder's rights shall ensure that the articles of association of a state-owned company prov
Slide 50: Remuneration principles of the supervisory board and the management board
Cash Flow and Financial Position Remuneration principles of the supervisory board and the management board • Bring the remuneration of members of the supervisory bodies into conformity with the State Assets Act, i.e. up to 25% of the supervisory board member remuneration • Remuneration of the manage
Slide 51: Introduction of the new supervisory board
Introduction of the new supervisory board Ando Leppiman Chairman of Tallinna Sadam nomination committee, Secretary General of the Ministry of Economic Affairs and Communications
Slide 52: Tallinna Sadam nomination committee
Cash Flow and Financial Position Tallinna Sadam nomination committee • Committee members: Representatives of Estonian state: Ando Leppiman (chairman), Merike Saks, Kaido Padar Representatives of minority shareholders: Ian Brown (EBRD), Gert Vilms (SEB) • Main task is to propose to the general me
Slide 53: Selection process
Cash Flow and Financial Position Selection process • Considering the strategy and challenges of Tallinna Sadam • Assessment of the actions taken of the current supervisory board, including self-assessment of the supervisory board • Discussion of the selection principles and essential competences of
Slide 54: Principles of selection of the candidates
Cash Flow and Financial Position Principles of selection of the candidates • Tallinna Sadam strategy, potential and risks affecting its development • Protection of the expectations and interests of the shareholders • Conditions for the profile of the supervisory board Complete coverage of the rele
Slide 55: Proposal of the nomination committee
Cash Flow and Financial Position Proposal of the nomination committee • To elect 7 members to the supervisory board, including 3 existing members • Term of office 3 years starting 01.07.2022, representative of ministry of finance from 26.04.2022 • To appoint Riho Unt as chairman of the supervisory b
Slide 56: Candidates of the supervisory board
Candidates of the supervisory board Riho Unt Veiko Sepp Maarika Honkonen Ain Tatter (chairman candidate) independent Kaur Kajak Risto Mäeots Marek Helm
Slide 57: Disclaimer
Disclaimer The presentation has been prepared for informational purposes only. By opening, downloading, In addition, even if the results and financial condition of the Port of Tallinn and the reading or otherwise making available any part or all of the presentation in whole or in part, development o
Slide 58: Thank you for your time!
Thank you for Thank your time! You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee