Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — Q3 2022 Earnings Presentation
16 slides from Tallink Grupp As's earnings presentation, Oct 27, 2022
Slide 1: Q3 2022 Tallink Grupp AS Results Webinar
27 OCTOBER 2022 Q3 2022 TALLINK GRUPP AS RESULTS WEBINAR
Slide 2: Presenters
PRESENTERS PAAVO NÕGENE HARRI HANSCHMIDT MARGUS SCHULTS CHAIRMAN OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD 2 TALLINK GRUPP
Slide 3: Tallink Grupp
TALLINK GRUPP The leading European provider of leisure and business travel and sea transportation services in the Baltic Sea region. OPERATIONS • Fleet of 14 vessels • Seven ferry routes (1 suspended) • Operating four hotels (1 closed) KEY FACTS STRONG BRANDS • Revenue of EUR 477 million in 2021 • S
Slide 4: 2022 Q3 Developments and Key Facts
2022 Q3 DEVELOPMENTS AND KEY FACTS OPERATING ENVIRONMENT • Geopolitical situation and war in Ukraine since February • High inflation of global fuel and energy prices as well as prices of food products and materials • Raising interest rates • Consumer and business confidence in home markets in declin
Slide 5: Q3 2022 Overview – Recovery from COVID-19 Restrictions
Q3 2022 OVERVIEW – RECOVERY FROM COVID-19 RESTRICTIONS Q3 Selected Key Figures 2022 2021 Change (financials in million euros) Number of passengers 1 893 603 1 144 092 65.5% Number of cargo units 102 399 90 538 13.1% • Revenue EUR 255.6m (EUR +85.1m or 49.9% vs LY) Number of passenger cars 277 747 22
Slide 6: Recent Performance vs Pre-Pandemic
RECENT PERFORMANCE VS PRE-PANDEMIC PASSENGER VOLUME RELATIVE TO 2019 100% Selected Key Figures Last 12 2021 2020 2019 (financials in million euros) months 90% Number of passengers 5 288 930 2 961 975 3 732 102 9 763 210 80% Number of cargo units 415 203 369 170 359 811 379 634 70% Revenue 734.3 476.
Slide 7: Events After the Reporting Period & Outlook
EVENTS AFTER THE REPORTING PERIOD & OUTLOOK • Continuously exploring options for chartering out vessels • The new dual fuel (LNG, MGO) shuttle vessel MyStar is expected to be delivered and start operations on the Tallinn-Helsinki route in November 2022 • Successful launch of new cruise concept on Tu
Slide 8: Q3 Revenue Development by Operating Segments
Q3 REVENUE DEVELOPMENT BY OPERATING SEGMENTS (EUR MILLION) 300 Restaurant and shop sales on-board and onshore increased 2.0 255.6 mainly due to higher number of passengers 11.4 2.8 2.4 250 Increase in ticket sales attributable to increased demand and 31.6 increased supply of overnight services 200 H
Slide 9: Q3 Revenue Development by Geographical Segments
Q3 REVENUE DEVELOPMENT BY GEOGRAPHICAL SEGMENTS (EUR MILLION) 300 -1.7 255.6 Overall increase in demand and increased supply of overnight 250 18.6 services 4.9 32.9 Estonia-Finland 200 The segment reflects operations of two shuttle vessels, a cruise ferry, 170.5 30.3 and a cargo vessel 150 Estonia-S
Slide 10: Results: Quarterly Seasonality Breakdown
RESULTS QUARTERLY SEASONALITY BREAKDOWN PASSENGERS (MILLIONS) CARGO (TH. UNITS) 10 9.8 400 380 369 360 2.3 8 94 82 101 300 Q4 6 3.0 102 93 92 91 Q3 3.7 200 4 3.0 109 Q2 2.7 1.9 100 87 92 1.3 1.1 100 2 Q1 1.1 1.6 93 100 85 102 1.9 1.6 0 0.7 0 (1) (1) 2019 2020 2021 2022 2019 2020 2021 2022 REVENUE (E
Slide 11: The Dynamics of High Seasonality on the Profit Level
THE DYNAMICS OF HIGH SEASONALITY ON THE PROFIT LEVEL NET PROFIT BY QUARTERS (EUR MILLION) (1) 2019 net profit 50 2020 net loss -108 2021 net loss -57 2022 Q3 net profit 38 70 50 30 55 38 10 15 5 6 -3 -1 -10 -25 -27 -24 -27 -24 -30 -34 -40 -30 -50 MOST OF THE PROFITS ARE TYPICALLY EARNED IN SUMMER, T
Slide 12: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT (2) 2020 2021 Q3 2021 Q3 2022 (EUR million) Sales 443 477 170 256 Cost of sales (1) (486) (455) (140) (190) Marketing & administrative cost (1) (86) (75) (20) (22) Other operating items, net 37 16 1 (1) EBITDA 8 58 35 68 Margin (%) 1.8% 12.2% 20.6% 26.5% Net Result (108
Slide 13: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT (1) (EUR million) 2020 2021 Q3 2021 Q3 2022 Operating cash flow (7) 59 24 60 Capital expenditure (100) (20) (4) (6) Asset disposal 0 1 0 0 Free cash flow (107) 40 21 55 Debt financing (net effect) 112 44 55 (36) Interests & other financial items (16) (19) (6) (7) Inc
Slide 14: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (EUR million) 31.12.2020 30.09.2021 31.12.2021 30.09.2022(2) Total assets 1 516 1 617 1 586 1 535 1500 Other Cash Intangibles liabilities Non-current assets 1 427 1 389 1 383 1 338 Current assets 89 227 203 197 Other Assets - of which cash 28 143 128 103
Slide 15: Debt Structure
DEBT STRUCTURE LONG TERM BANK LOANS Total EUR 593 million long-term bank loans and used overdrafts as — EUR 593 million as at 30.09.2022 at 30.09.2022 — 6 loan agreements outstanding: syndicated loans, 900 EUR million amortizing project and working capital loans 800 — Maturities 0.25 – 7.3 years 700
Slide 16: Thank You
THANK YOU AS Tallink Grupp Sadama 5, 10111, Tallinn, Estonia www.tallink.com/investors investor@tallink.ee