Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q1 2023 Earnings Presentation
16 slides from Tallinna Sadam As's earnings presentation, May 10, 2023
Slide 1: Results of 2023 Q1
Results of 2023 Q1 10.05.2023
Slide 2: Main events in Q1 2023
Main events in Q1 2023 • Record vessel calls on Tallinn-Helsinki line (1124 vessel calls, +21%) • Icebreaker Botnica contract with Baffinland for 2023 summer • Positive court ruling to end the legal dispute with SLK and Väinamere Lines • MOU with OÜ Utilitas Wind for the development of offshore wind
Slide 3: Trends in Q1 by business segments
Trends in Q1 by business segments • PASSENGERS – continuing strong growth in PAX numbers (+55%), increase in PAX vessel calls (+8%) and revenue (+33%). • CARGO – decline in cargo volumes (-31%) and revenue (-18%). EU sanctions to Russia. Continuing growth in ro-.ro. • FERRY – revenue growth (+13%) f
Slide 4: Passenger volume Q1 2018-2022
Passenger volume Q1 2018-2022 1 800 12 10000 10,6 10,6 1 600 1 400 +55% 1 396 10 8000 1,0 0,9 102 Thousand PAX 1 200 8 700,0% Million PAX Vessel calls 1 000 902 5 898 6 111 6000 5 451 5 679 5 672 6 800 4,3 4000 600 1 256 4 8,8 8,8 3,5 400 807 620,0% 2 2000 4,0 200 3,0 0 0 0 2022 2023 2018 2019 2020
Slide 5: Cargo volume Q1 2018-2022
Cargo volume Q1 2018-2022 6 25 6000 22,4 20,6 21,3 4,8 19,9 1,9 5000 Vessel calls 5 -31% 20 1,8 Million tonnes 1,9 1,8 17,8 0,6 4,4 4,7 4000 4 15 3,9 4,5 2,1 0,7 3,4 Million tonnes 2,9 3000 3 0,5 5,3 5,6 6,5 1,7 10 5,4 0,5 6,9 2000 2 1754 1743 1637 1 654 1458 1,7 5 8,8 9,1 8,8 7,6 1000 1 1,7 5,2 0,5
Slide 6: Shipping volumes: ferry
Shipping volumes: ferry Q1 2018-2022 400 3,0 350 350 323 2,4 2,5 2,3 2,3 2,2 300 Million PAX/vehicles Thousand PAX/vechicles 2,0 2,0 250 200 178 181 1,5 1,1 1,1 150 1,0 1,0 1,0 1,0 100 0,5 50 0 0,0 2022 2023 2018 2019 2020 2021 2022 Passengers Vehicles Passengers Vehicles
Slide 7: Shipping volumes: MPSV Botnica
Shipping volumes: MPSV Botnica Q1 2018-2022 100 100% 100% 100% 300 100% 90 90 267 90 90% 261 90% 242 249 249 250 80 80% 80% 72% 73% 70 70% 68% 68% 70% 200 66% 60 60% 60% days Days 50 50% 150 50% 40 40% 40% 100 30 30% 30% 20 20% 20% 50 10 10% 10% 0 0% 0 0% 2022 2023 2018 2019 2020 2021 2022 Charter d
Slide 8: Future outlook
Future outlook • Passenger business recovery continues • Impact on results from sanctions against Russia and Belarus continues • New ro-ro and container lines • Offshore windfarms base harbour development • New contracts in shipping • Preparation of the real estate business model
Slide 9: Results of the Group in Q1
Results of the Group in Q1 In thousands Q1 2023 Q1 2022 +/- % Revenue 28 405 26 771 1 634 6.1% Adjusted EBITDA 13 564 13 482 82 0.6% Adjusted EBITDA margin 47.8% 50.4% -2.6 - Operating profit 6 797 7 217 -420 -5.8% Income tax 0 0 0 - Profit for the period 5 701 7 191 -1 489 -20.7% Investments 1 542
Slide 10: Revenue and profitability
Revenue and profitability 90% 140 131 80% 122 120 110 70% 107 100 60% 57% 54% 80 49% 50,4% 47,8% 50% 46% EUR million 74 40% 60 58 54 56 30% 40 27 28 20% 20 10% 13 14 0 0% 2019 2020 2021 2022 Q1 2022 Q1 2023 Revenue Adj. EBITDA Adj. EBITDA margin
Slide 11: Results by business segments
Results by business segments in Q1 Q1 segments (mEUR) Paasenger H 3,6 8,0 2,5 6,0 Cargo H 3,5 7,9 5,1 9,7 Ferry 3,9 8,4 3,2 7,4 Other 2,6 4,0 2,6 3,7 0 2 4 6 8 10 12 Adj. EBITDA 2023 Adj. EBITDA 2022 Revenue 2023 Revenue 2022
Slide 12: Cash Flow and Financial Position
Cash Flow and Financial Position Cash Flow statement Financial position 700 In thousands Q1 2023 Q1 2022 +/– 600 Cash from operating 500 13 399 14 871 -1 472 activities 381 387 EUR million Cash used in investing 400 –1 564 –5 339 3 775 563 activities 569 300 Free cash flow (FCF) 11 835 9 532 2 303 2
Slide 13: Revenue generation
Revenue generation Passenger harbours Cargo harbours 50 50 38 39 40 40 8,1 9,9 30 30 MEUR MEUR 13,0 9,6 20 20 8 9,9 8 Total revenue 10 10,7 10 8,0 9,7 150 6,0 7,9 122 0 0 2022 2023 2022 2023 100 28,2 MEUR Ferry Other 36,3 50 50 50 30,4 28 40 35 40 28,4 26,8 8,3 0 MEUR 30 30 MEUR 2022 2023 20 10,2 20
Slide 14: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 25 25 20 19 20 17 2,3 15 15 3,2 MEUR MEUR 7,5 3,5 10 10 Total adj. EBITDA 4 5,1 5 6,3 5 3 80 2,5 3,6 5,1 3,5 0 0 2022 2023 2022 2023 60 56 9 MEUR Ferry Other 40 18 25 25 20 20 20 15 14 15 13 14 15 15 MEUR MEUR 3,0 0 10 10 2022 2023 4,4 6 4 Q1 Q2 Q3
Slide 15: Q&A session
TALLINNA @ SADAM Q&A session
Slide 16: Thank You!
Thank You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee