Tallink Grupp AS · OMXTSE:TAL1T
Tallink Grupp AS — Investor Presentation (March 2012)
24 slides from Tallink Grupp AS's investor presentation, March 2012
Slide 1: Company presentation March 2012
Company presentation 2012 March
Slide 2: Tallink
Tallink Tallink is the leading European provider of leisure and business travel and sea transportation services in the Baltic Sea Fleet of 19 vessels Operating five hotels Revenue EUR 908 million EUR 1.8 billion asset base 6 651 employees Over 9 million passengers annually Over 280 thousand cargo un
Slide 3: Tallink business model
Tallink business model Product offering 1-2 overnight cruises & passenger transportation Conferences Revenue structure (2011 January-December) 49,6% Other 7% 24,9% Cargo On-board Tax-Free Shopping City break 12% Restaurant & shop sales 54% Hotel & travel packages Cargo Transportation Ticket sales 27
Slide 4: Cruise ferry
Cruise ferry 927 cabins, 2800 passengers Buffet Nightclub Tango lounge Conference Sauna Shops, pubs, restaurants Car deck Show bar 4
Slide 5: Tallink's passenger market share is 48% of the Northern Baltic Sea
Tallink’s passenger market share is 48% of the Northern Baltic Sea Revenue by routes Fin-Ger 4% Lat-Swe 6% Swe-Est 11% Fin-Swe 40% Other 7% Fin-Est 32% (908 MEUR) Passangers RUS Northern Baltic passenger market LIT Other 20 5% 19 million passengers LAT 8% 2% 18 Other 3% 16 Eckerö 14 Finnish Viking 1
Slide 6: Market shares
Market shares Passenger operations Est - Fin / Tallinn - Helsinki 3% 5% 6% 5% 5% 6% 6% 7% 7% 5% 5% 4% 7% 8% 7% 7% 14% 13% 13% 21% 19% 13% 10% 19% 20% 19% 18% 20% 25% 13% 15% 15% 25% 24% 10% 10% 10% 25% 12% 11% 14% 15% On Estonia-Sweden & 12% 22% Latvia-Sweden routes 22% 19% 19% 23% 22% 22% 20% 15% 1
Slide 7: Highlights and milestones
Highlights and milestones Finland-Sweden OPERATIONS Riga-Stockholm St. Petersburg Finland-Germany Estonia-Sweden Estonia-Finland Hotel operations Newbuilt vessels € 1020 m Silja Line Baltic Queen Acquisitions € 780 m Superfast ferries SuperstarBaltic Princess Private Placement IPO Star Galaxy Victor
Slide 8: Tallink's position in the global ferry market
Tallink´s position in the global ferry market The World's top Duty free & Travel Retail Shops 2010 Ranking by actual and estimated retail sales in US$ millions. Ferry operator by gross tons Rank Company Gross tons Rank Location Remarks 1 Stena Line 826 323 Sales> US$ 1,000.0 million 2 Grimaldi Lines
Slide 9: Strategic plan
Strategic plan Tallink’s vision is to be the market pioneer in Europe by offering excellence in leisure and business travel and sea transportation services Long term objectives toward increasing the company value and profitability: - Strive for the highest level of customer satisfaction - Increase v
Slide 10: Results: quarterly seasonality breakdown
Results quarterly seasonality breakdown Q4 Q3 Q2 Q1 Sep - Aug Jan - Dec Sep - Aug Jan - Dec Sep - Aug Jan - Dec Sep - Aug Jan - Dec 10
Slide 11: The dynamics of high seasonality on the profit level
The dynamics of high seasonality on the profit level Net result by quarters Sep – Aug Financial Year Sep – Aug Financial Year 2011 Jan - Dec EUR million 50 Net loss -8M Net profit 22M Net profit 38M 40 40 30 20 42 32 10 14 1 0 -3 -2 -1 -10 -17 -16 -17 -21 -20 -30 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 12: Passenger traffic
Passenger traffic Passenger number quarterly development Sep – Aug Financial Year Sep – Aug Financial Year Sep – Aug Financial Year 2011 Jan - Dec 3.0 Millions 2.5 2.84 2.70 2.72 2.0 2.36 2.34 2.16 2.11 1.98 1.5 1.79 1.81 1.83 1.81 1.51 1.57 1.63 1.62 1.0 0.5 0.0 Passenger revenues Revenue per pax E
Slide 13: Cargo traffic
Cargo traffic Cargo units & revenues Revenue in EUR m 80 Sep – Aug Financial Year Sep – Aug Financial Year Sep – Aug Financial Year 2011 Jan - Dec 100 70 Units in th 92 60 80 85 79 50 75 76 76 68 69 70 71 60 67 67 44 60 40 40 57 59 39 54 37 35 30 40 28 29 25 24 25 26 26 25 23 24 20 20 20 10 0 0 Q1 Q
Slide 14: Passengers, revenue and result by segments
Passengers, revenue and result by segments 12 months 2011 400 4.4 Passengers in millions Revenue and result in EUR millions 350 3.4 300 250 2.4 200 4.3 366.4 150 283.1 3.2 1.4 100 Operations discontinued 108.7 since August 2011 50 84.7 0.9 0.4 0.7 63.6 69.5 33.6 12.2 12.2 0.0 16.4 0 -8.0 -1.7 Finlan
Slide 15: Consolidated Income Statement
Consolidated Income Statement (in EUR million) 2007/2008 2008/2009 2009/2010 2011(2) Sales 787 792 814 908 Cost of sales (1) (622) (627) (646) (715) Marketing, general & admin (1) (111) (101) (94) (101) EBITDA 126 133 145 163 Margin (%) 16.0% 16.8% 17.8% 17.9% Net Profit 19 (8.2) 22 38 EPS 0.03 (0.0
Slide 16: Costs breakdown
Costs breakdown 2010(2) 2011(2) Jan-Dec Jan-Dec share % share % Cost of goods 22% -176 761 22% -195 294 Staff costs 15% -120 731 15% -127 439 Marketing & Admin (1) 11% -88 052 11% -93 345 Port & stevedoring costs 12% -95 562 10% -90 320 Fuel cost 14% -118 026 16% -141 075 Ship operating expenses 8%
Slide 17: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement (in EUR million) 2007/2008 2008/2009 2009/2010 2011 (1) Operating cash flow 109 146 164 160 Capital expenditure (271) (163) (6) (9) Asset disposal 29 1 7 0 Free cash flow (133) (16) 165 151 Debt financing 171 59 (107) (76) Equity financing 4 0 0 0 Interests & other f
Slide 18: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (in EUR million) 31.08.2008 31.08.2009 31.08.2010 31.12.2011(2) Total assets 1,898 1,947 1,871 1,800 Non-current assets 1,723 1,815 1,741 1,657 Current assets 175 132 130 143 - of which cash - 67 50 57 75 Total liabilities 1,247 1,304 1,203 1,094 Interest
Slide 19: Loan agreements have aggressive repayment schedules
Tallink’s loan agreements have aggressive repayment schedules, the vessels useful life is however longer Loan balance according to the current repayment schedules Million EUR 1750 Fleet value 1500 1250 1000 750 500 250 0 Aug 31. Aug 31. Aug 31. Aug Aug 31. Aug 31. Aug 31. Aug 31. Aug 31. Aug 31. Aug
Slide 20: Age of fleet
Age of fleet Tallink Grupp ships age (value-weighted average): Tallink + Silja core fleet – 8.6 years Superfast fleet – 9.6 years Ships out of core operations and cargo vessels – 22.3 years World-wide ships age*: Ferries – 23.6 years Cruise – 12.3 years * - source: ShipPax Market:11 Statistics, 2011
Slide 21: Tallink's Fleet
Tallink’s Fleet Baltic Queen Victoria I Built: 2009 Built: 2004 Length 212.1m Length 193.8m Passengers: 2800 Passengers: 2500 Tallinn-Stockholm Lane meters: 1130 Tallinn-Stockholm Lane meters: 1000 Baltic Princess Superfast VII/VIII/IX Built: 2008 Built: 2001/2002 Length 212.1m Length 203.3m Passeng
Slide 22: Tallink's Fleet
Tallink’s Fleet Superstar Star Built: 2008 Built: 2007 Length 175.1m Length 186m Passengers: 2080 Passengers: 1900 Tallinn-Helsinki Lane meters: 1930 Tallinn-Helsinki Lane meters: 2000 Silja Serenade Silja Symphony Built: 1990 Built: 1991 Length 202.9m Length 202.9m Passengers: 2852 Passengers: 2852
Slide 23: Ownership structure
Ownership structure Shareholders of AS Tallink Grupp Ten largest shareholders on 31.08.2010 in the end of Q4 Infortar 40% ING Luxemburg S.A 10% Nordea Bank Finland PLC / non-resident legal entities 10% Citigroup Venture Capital International Jersey Ltd 7% Skandinaviska Enskilda Banken AB Clients (Ea
Slide 24: Safety, security and environmental protection are a high priority
Safety, security and environmental protection are a high priority Safety and Security Policy Environmental Policy ISO 14001:2004 Environmental Certificate by Lloyds Register MARPOL Sewage Pollution Prevention Certificate MARPOL Air Pollution Prevention Certificate International Anti-Fouling System C
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