Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q2 2022 Earnings Presentation
15 slides from Tallinna Sadam As's earnings presentation, Aug 10, 2022
Slide 1: Results of 2022 Q2
Results of 2022 Q2 Webinar 10.08.2022
Slide 2: Presenters
Presenters Valdo Kalm Andrus Ait CEO CFO Chairman of the management board Member of the management board
Slide 3: Q2 2022 main events
Q2 2022 main events • Decision to build a new quay for wind farms in Paldiski South Harbour • Record volume of ro-ro cargo in 6 months • Termination of Worldwide Cargo Establishment’s contractual penalty lawsuit • Ferry Regula additional trips in summer 2022 • Voting of the general meeting resolutio
Slide 4: Trends in Q2 by business segments
Trends in Q2 by business segments • PASSENGERS – steep rise in PAX numbers (+219%) and revenue (+88%). Growth in rental fees. • CARGO – decline in volumes (-21%) but stable revenue. Change in the structure of cargo volumes – ro-ro passed liquid bulk. EU sanctions to Russia. • FERRY – revenue growth
Slide 5: Passenger volume
Passenger volume Q2 6 months 2 000 1 902 3 000 2 804 129 2 500 183 1 500 +219% +189% Thousand PAX Thousand PAX 2 000 1 000 1 500 1 657 969 2 465 596 1 000 500 545 500 878 0 0 2021 2022 2021 2022 Tallinn-Helsingi Tallinn-Stockholm Tallinn-Helsingi Tallinn-Stockholm Muuga-Vuosaari Cruise (traditional)
Slide 6: Cargo volume
Cargo volume Q2 6 months 7 12 11,2 -15% 5,9 -21% 6 10 0,9 9,5 0,5 5 4,7 2,4 1,1 1,3 8 Million tons Million tons 0,6 1,3 4 0,6 6 3,2 3 1,7 3,5 1,9 4 2 2,4 2 4,4 1 3,2 1,4 0 0 2021 2022 2021 2022 Liquid bulk Ro-Ro Dry bulk Liquid bulk Ro-Ro Dry bulk Containers General cargo Containers General cargo
Slide 7: Shipping volumes
Shipping volumes Ferries MPSV Botnica 1200 100% 140 1000 955 120 114 114 80% 853 Thousand PAX/vehicles 800 100 632 63% 60% 584 63% 80 days 600 455 478 60 40% 400 300 26% 26% 297 40 24 24 20% 200 20 0 0 0% Q2 2021 Q2 2022 6M 2021 6M 2022 Q2 2021 Q2 2022 6M 2021 6M 2022 passengers vehicles charter day
Slide 8: Future outlook by the end of 2022
Future outlook by the end of 2022 • Passenger business recovery better than expected. • Unpredicted impact from COVID-19 in autumn 2022. • Impact on results from sanctions against Russia and Belarus milder than expected. • Rising input costs – energy, labor, services, etc.
Slide 9: Results of the Group in Q2
Results of the Group in Q2 In thousands Q2 2022 Q2 2021 +/- 6M 2022 6M 2021 +/- Revenue 30 364 24 260 25.2% 57 135 49 248 16.0% Adjusted EBITDA 15 389 11 132 38.2% 28 871 24 153 19.5% Adjusted EBITDA margin 50.7% 45.9% 4.8 50.5% 49.0% 1.5 Operating profit 9 111 5 218 74.6% 16 328 12 439 31.3% Income
Slide 10: Results by business segments
Results by business segments in Q2 Q2 segments (mEUR) 6 months segments (mEUR) Passenger H 6,3 10,7 Passenger H 8,7 16,7 2,5 5,7 4,3 10,7 Cargo H 5,1 9,9 Cargo H 10,2 19,5 5,4 9,8 11,0 19,4 Ferry 3,9 8,8 Ferry 7,2 16,2 3,4 7,8 6,4 14,6 Other0,1 1,0 Other 2,7 4,6 -0,2 0,9 2,4 4,5 -5 0 5 10 15 0 5 10
Slide 11: Cash Flow and Financial Position
Cash Flow and Financial Position Cash Flow statement Financial position In thousands 6M 2022 6M 2021 +/– 700 Cash from operating 600 30 106 27 329 2 777 activities Cash used in investing 500 –4 591 –9 417 4 286 381 activities 368 EUR million 400 580 Free cash flow (FCF) 25 515 17 912 7 603 577 300 C
Slide 12: Revenue generation
Revenue generation Passenger harbours Cargo harbours 35 50 29 41 30 40 25 8,4 10,4 17 30 MEUR MEUR 20 15 9,7 10,9 20 20 10 10,7 9,8 9,9 Total revenue 5,7 10 5 150 5,0 6,0 9,6 9,7 0 0 107 2021 2022 2021 2022 100 28,5 MEUR Ferry Other 32,3 57 10 40 10 50 24,3 30,4 31 2,3 8 30 25,0 26,8 7,4 0 MEUR 6 3,
Slide 13: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 20 30 14 22 15 20 5,4 MEUR MEUR 4,0 9 10 5,9 10 5,4 10 Total adj. EBITDA 5 6,3 5,4 5,1 2,5 80 5,6 5,1 1,8 2,5 0 0 2021 2022 2021 2022 60 54 13 MEUR Ferry Other 40 17 29 20 6 6 1,1 20 11 15 15 13 4 13 13 MEUR 10 2,4 2,1 3 0,1 0 MEUR 3,7 7 2021 2022
Slide 14: Q&A session
PORT OF @ TALLINN Q&A session
Slide 15: Thank You!
Thank You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee