Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — AS Tallink Grupp — Q1 2023 Earnings Presentation
16 slides from Tallink Grupp As's earnings presentation, Apr 27, 2023
Slide 1: Q1 2023 AS Tallink Grupp Results Webinar
27 APRIL 2023 Q1 2023 AS TALLINK GRUPP RESULTS WEBINAR
Slide 2: Presenters
PRESENTERS PAAVO NÕGENE HARRI HANSCHMIDT CHAIRMAN 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 15 vessels (6 chartered out) • Six ferry routes (1 suspended) • Operated 4 hotels (1 suspended) KEY FACTS • Revenue of EUR 771.4 million in 2022
Slide 4: Q1 2023 Developments and Key Facts
Q1 2023 DEVELOPMENTS AND KEY FACTS OPERATING ENVIRONMENT • Consumer and business confidence in home markets improved compared to all time low in September 2022 • Slowdown of increase in global fuel and energy prices as well as prices of food products and materials • Rising interest rates • Geopoliti
Slide 5: Q1 2023 Overview
Q1 2023 OVERVIEW Q1 Selected Key Figures Q1 2022 Q1 2023 Change (financials in million euros) • Revenue EUR 171.2m (EUR +65.1m or 61.3% vs LY) Number of passengers 720,261 1,049,777 45.7% — Recovery in passenger numbers from COVID-19 related travel Number of cargo units 101,938 86,732 -14.9% restric
Slide 6: Q1 2023 Revenue Development by Operating Segments
Q1 2023 REVENUE DEVELOPMENT BY OPERATING SEGMENTS (EUR MILLION) Restaurant and shop sales onboard and onshore increased mainly due to higher number of passengers 200 Increase in ticket sales attributable to increased demand and -0.5 pricing 27.5 171.2 -1.2 Demand is driving the increase in accommoda
Slide 7: Q1 2023 Revenue Development by Geographical Segments
Q1 2023 REVENUE DEVELOPMENT BY GEOGRAPHICAL SEGMENTS (EUR MILLION) 200 171.2 Overall increase in demand and pricing 32.5 -0.7 Estonia-Finland Segment reflects operations of three shuttle vessels 150 10.0 7.1 16.1 Estonia-Sweden 106.1 Results reflect operations of two cargo vessels (Paldiski-Kapellsk
Slide 8: Results: Quarterly Seasonality Breakdown
RESULTS QUARTERLY SEASONALITY BREAKDOWN PASSENGERS (MILLIONS) CARGO (TH. UNITS) 10 410 400 360 369 96 8 82 101 300 Q4 5.5 102 6 92 91 Q3 3.7 1.3 200 4 3.0 109 Q2 1.9 87 92 87 1.3 1.1 100 2 1.0 Q1 1.1 1.6 100 85 102 87 1.6 0.7 1.0 0 0 (1) (1) 2020 2021 2022 2023 2020 2021 2022 2023 REVENUE (EUR MILLI
Slide 9: 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) 2020 net loss EUR 108m 2021 net loss EUR 57m 2022 net profit EUR 14m Q1 2023 net loss EUR 5m 70 50 30 38 10 17 6 -3 -5 -1 -10 -27 -24 -27 -24 -30 -34 -40 -30 -50 MOST OF THE PROFITS ARE TYPICALLY EARNED IN
Slide 10: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT (2) 2021 2022 Q1 2022 Q1 2023 (EUR million) Sales 477 771 106 171 Cost of sales (1) -455 -658 -126 -146 Marketing & administrative cost (1) -75 -87 -18 -23 Other operating items, net 16 11 4 0 EBITDA 58 136 -11 27 Margin (%) 12.2% 17.6% -10.3% 15.8% Net Result -57 14 -4
Slide 11: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT (1) (EUR million) 2021 2022 (1) Q1 2022 Q1 2023 Operating cash flow 59 144 -18 26 Capital expenditure -20 -203 -9 -12 Asset disposal 1 3 0 0 Free cash flow 40 -56 -27 15 Debt financing (net effect) 45 69 7 -25 Interests & other financial items -20 -25 -6 -8 Increase
Slide 12: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (EUR million) 31.12.2021 31.03.2022 30.12.2022 31.03.2023 (2) 1750 Cash Total assets 1,586 1,560 1,692 1,672 Intangibles Other liabilities Non-current assets 1,383 1,372 1,496 1,485 Other 1400 assets Current assets 203 188 196 187 - of which cash 128 101
Slide 13: Debt Structure
DEBT STRUCTURE LONG TERM BANK LOANS — EUR 726 million as at 31 March 2023 800 — 7 loan agreements outstanding: syndicated loans, EUR million amortizing project and working capital loans 700 — Maturities 0.6–12 years 600 16 — EUR denominated, fixed and EURIBOR floating 500 OVERDRAFTS (as at 31 March
Slide 14: Events After the Reporting Period & Outlook
EVENTS AFTER THE REPORTING PERIOD & OUTLOOK • Long-term bareboat charter agreement with Canadian entity Bridgemans Floatel LP/Bridgemans Services Group LP was signed for chartering the cruise vessel Isabelle from 1 July 2023. The multi- year charter agreement includes a purchase option. • Long-term
Slide 15: Questions & Answers
QUESTIONS & ANSWERS PAAVO NÕGENE HARRI HANSCHMIDT CHAIRMAN OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD 15 TALLINK GRUPP
Slide 16: Thank You
THANK YOU AS Tallink Grupp Sadama 5, 10111, Tallinn, Estonia www.tallink.com/investors investor@tallink.ee