Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q1 2024 Earnings Presentation
15 slides from Tallinna Sadam As's earnings presentation, May 10, 2024
Slide 1: Results of 2024 Q1
Results of 2024 Q1 10.05.2024
Slide 2: Main events in Q1 2024
Main events in Q1 2024 • Stabilization of cargo volume • Submission of the tender to provide ferry service in 2026–2033 • Announcement of a competition to develop vacant areas in Muuga Harbour • Reorganisation proceedings for MPG AgroProduction OÜ initiated by the court • Positive judgment in the ju
Slide 3: Trends in Q1 by business segments
Trends in Q1 by business segments • PASSENGERS – continuing growth in PAX numbers (+5%), decline in PAX vessel calls (-7%) and revenue (-6%). • CARGO – stabilization in cargo volumes (0%), increase in vessel calls (+3%), decline in revenue (-2%). Gross tonnage of vessels decreased. Growth in contain
Slide 4: Passenger volume
Passenger volume Q1 2019-2023 1 800 12 12000 1 600 10,6 1 465 1 396 10 10000 1 400 99 0,9 1 200 7,9 Thousand PAX +5% 8 7,0 8000 Vessel calls Million PAX 1 000 0,5 6 6 111 800 5 451 5 679 5 672 5 646 6000 1 317 4,3 600 1 256 8,8 3,5 4 4000 6,2 7,0 400 200 2 4,0 2000 3,0 0 0 0 2023 2024 2019 2020 2021
Slide 5: Cargo volume
Cargo volume Q1 2019-2023 4 25 6000 22,4 21,3 3,4 0% 3,4 19,9 1,9 5000 20 1,8 17,8 3 0,5 1,8 4,7 0,5 4,4 4000 Million tonnes Vessel calls 4,5 2,1 15 0,5 0,7 12,6 Million tonnes 2,9 5,6 6,5 3000 2 1,9 10 5,4 6,9 2,2 2000 1,7 1743 1637 1 654 1,7 1458 1380 1 5 9,1 6,4 7,6 8,8 1000 5,2 0,5 0 1,7 0 0,3 0
Slide 6: Shipping volumes: ferry
Shipping volumes: ferry Q1 2019-2023 400 372 3,0 350 350 6% 2,4 2,4 2,5 2,3 2,2 300 Million PAX/vehicles Thousand PAX/vechicles 2,0 2,0 250 200 181 191 1,5 6% 1,0 1,0 1,1 1,1 1,1 150 1,0 100 0,5 50 0 0,0 2023 2024 2019 2020 2021 2022 2023 Passengers Vehicles Passengers Vehicles
Slide 7: Shipping volumes: MPSV Botnica
Shipping volumes: MPSV Botnica Q1 2019-2023 100 100% 100% 100% 300 100% 90 91 267 90 90% 261 90% 249 249 250 231 80 80% 80% 70 70% 72% 73% 70% 200 68% 68% 60 60% 63% 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% 2023 2024 2019 2020 2021 2022 2023 Charter d
Slide 8: Future outlook
Future outlook • Passenger business recovery continues • New ro-ro and container lines, X-Press Feeder • Increasing interest in offshore windfarms base harbour • Offshore windfarms base harbour development • In shipping, growing demand in the offshore market , Botnica summer charter contract for fiv
Slide 9: Results of the Group in Q1
Results of the Group in Q1 In thousands Q1 2024 Q1 2023 +/- % Revenue 27 931 28 405 -475 -1.7% Adjusted EBITDA 12 716 13 564 -849 -6.3% Adjusted EBITDA margin 45.5% 47.8% -2.3 - Operating profit 7 001 6 797 203 3.0% Income tax 0 0 0 - Profit for the period 5 193 5 701 -509 -8.9% Investments 17 953 1
Slide 10: Results by business segments
Results by business segments in Q1 Q1 segments (mEUR) Paasenger H 3,3 7,5 3,6 8,0 Cargo H 3,6 7,8 3,5 7,9 Ferry 3,3 8,6 3,9 8,4 Other 2,5 4,1 2,6 4,0 0 1 2 3 4 5 6 7 8 9 10 Adj. EBITDA 2024 Adj. EBITDA 2023 Revenue 2024 Revenue 2023
Slide 11: Cash Flow and Financial Position
Cash Flow and Financial Position Cash Flow statement Financial position 700 In thousands Q1 2024 Q1 2023 +/– 600 Cash from operating 500 16 104 13 399 2 705 activities 378 383 EUR million 400 Cash used in investing –18 372 –1 564 –16 808 activities 564 576 300 Free cash flow (FCF) –2 268 11 835 –14
Slide 12: Revenue generation
Revenue generation Passenger harbours Cargo harbours Total revenue 50 50 150 40 38 40 8,8 31 30 30 130 MEUR MEUR 8,0 10,7 117 20 20 7,2 10,0 8 7,7 8 110 10 10 28,0 8,0 7,5 7,9 7,8 0 0 90 2023 2024 2023 2024 MEUR 31,4 Ferry Other 70 50 50 37 50 40 40 28,8 30 8,5 28 MEUR 30 MEUR 30 10,4 20 20 9,4 9 12
Slide 13: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours Total adj. EBITDA 25 25 80 20 20 20 4,2 15 15 MEUR 11 MEUR 6,1 10 10 2,2 2,4 60 5 5,7 3 5 3,1 4 3,6 3,3 3,5 3,6 49 0 0 2023 2024 2023 2024 10 MEUR 40 Ferry Other 25 25 14 20 20 15 15 15 20 12 MEUR 2,8 MEUR 12 10 4,5 10 5 4,1 3 3 14 12 5 3 3,9 3,3 0
Slide 14: Q&A session
PORT OF & TALLINN Q&A session
Slide 15: Thank You!
Thank You! portoftallinn.com • ts.ee/en/investor • portoftallinn
Tallinna Sadam AS (Port of Tallinn) — Q1 2024 Earnings Presentation on 6ix