Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q2 2023 Earnings Presentation
15 slides from Tallinna Sadam As's earnings presentation, Aug 10, 2023
Slide 1: Results of 2023 Q2 and 6 months
Results of 2023 Q2 and 6 months 10.08.2023
Slide 2: Main events in Q2 2023
Main events in Q2 2023 • Agreement to build a new quay in Paldiski South Harbour for constructing offshore windfarms • Icebreaker Botnica additional summer charter contract with Equinor • Additional trips of ferry Regula in summer 2023 • Talinna Sadam AGM and dividend payment • Change in the supervi
Slide 3: Trends in Q2 by business segments
Trends in Q2 by business segments • PASSENGERS – continuing growth in PAX numbers (+13%), decrease in PAX vessel calls (-7%) and revenue (-7%). New rental premises. • CARGO – decline in cargo volumes (-31%), ship calls (-8%) and revenue (-22%). EU sanctions to Russia and overall economic decline. •
Slide 4: Passengers and PAX ship calls
Passengers and PAX ship calls Q2 6 months 3 000 10000 4 +27% 3,5 10000 2 500 +13% 2150 8000 0,3 8000 3 2,8 1902 Thousand PAX 2 000 158 Million PAX 0,2 ship calls 6000 ship calls 129 6000 1 500 2 4000 3,1 4000 1 000 1865 1657 2,5 2 833 2 819 2000 1 500 1 537 2000 1 422 0 0 0 0 2022 2023 2022 2023 Tal
Slide 5: Cargo volume
Cargo volume Q2 6 months 12 3000 6000 1200 10 9,5 -31% 2500 Gneral cargo 5000 4683 1000 Million tons -31% Thousatnd tons Vessel calls 1,1 Vessel calls 4000 591 800 8 2000 Dry bulk 571 3251 1,3 6,6 3000 600 6 0,9 1500 Ro-ro 469 1872 515 3,5 1,0 2000 411 379 400 4 1000 Liquid bulk 760 1681 3,4 700 100
Slide 6: Ferries
Ferries Q2 6 months 800 1 200 700 671 1 021 632 1 000 955 600 Thousand PAX / vechicles Thousand PAX / vechicles 800 500 400 600 312 478 493 300 300 400 200 200 100 0 0 2022 2023 2022 2023 Passengers Vechicles Passengers Vechicles
Slide 7: Icebreaker Botnica
Icebreaker Botnica Q2 6 months 35 100% 140 100% 29 90% 119 90% 30 120 114 80% 80% 25 24 100 70% 70% 66% 60% 63% 60% 20 80 days days 50% 50% 15 40% 60 40% 32% 30% 30% 10 26% 40 20% 20% 5 20 10% 10% 0 0% 0 0% 2022 2023 2022 2023 charter days % utilisation rate charter days % utilisation rate
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 and maintenance fleet • Preparation of the real estate business model
Slide 9: Results of the Group
Results of the Group Q2 and 6 months In thousand EUR Q2 2023 Q2 2022 +/- 6M 2023 6M 2022 +/- Revenue 28 783 30 364 -5.2% 57 189 57 135 0.1% Adjusted EBITDA 11 715 15 389 -23.9% 25 279 28 871 -12.4% Adjusted EBITDA margin 40.7% 50.7% -10.0 44.2% 50.5% -6.3 Operating profit 5 758 9 111 -36.8% 12 555 1
Slide 10: Results by business segments
Results by business segments Q2 and 6 months Q2 segments (mEUR) 6 months segments (mEUR) Passenger H 5,7 10,0 Passenger H 9,3 18,0 6,3 10,7 8,8 16,7 Cargo H 3,1 7,7 Cargo H 6,6 15,6 5,1 9,9 10,2 19,5 Ferry 4,1 9,4 Ferry 8,0 17,8 3,9 8,8 7,2 16,2 Other -1,2 1,7 Other 1,4 5,8 0,1 1,0 2,7 4,6 -2 0 2 4
Slide 11: Cash Flow and Financial Position
Cash Flow and Financial Position Cash flow statement Financial position 700 In thousands 6M 2023 6M 2022 +/– 600 Cash from operating 500 22 475 30 106 –7 631 activities 381 369 EUR million Cash used in investing 400 –4 128 –4 591 463 activities 569 561 300 Free cash flow (FCF) 18 347 25 515 –7 168 2
Slide 12: Revenue generation
Revenue generation Passenger harbours Cargo harbours 50 50 38 39 40 40 8,1 9,9 30 30 MEUR MEUR 13,0 18 9,6 20 20 16 10,0 9,9 Total revenue 10 10,7 10 7,7 8,0 9,7 150 6,0 7,9 122 0 0 2022 2023 2022 2023 100 28,2 MEUR Ferry Other 36,3 57 50 50 50 30,4 28,8 40 35 40 28,4 26,8 8,3 0 MEUR 30 30 MEUR 18 2
Slide 13: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 25 25 20 19 20 17 2,3 15 15 3,2 MEUR MEUR 7,5 9 3,5 10 10 7 Total adj. EBITDA 5,7 5,1 5 6,3 5 3,1 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 23 20 20 15 12 18 15 13 14 15 MEUR MEUR 3,0 13 0 10 8 2022 2023 4,4 8
Slide 14: Q&A session
TALLINNA @ SADAM Q&A session
Slide 15: Thank You!
Thank You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee