Tallinna Sadam As · OMXTSE:TSM1T
Tallinna Sadam As — Q4 2023 Earnings Presentation
16 slides from Tallinna Sadam As's earnings presentation, Feb 28, 2024
Slide 1: Results of 2023 Q4 and 12 months
Results of 2023 Q4 and 12 months 28.02.2024
Slide 2: Main events in 2023 (1/2)
Main events in 2023 (1/2) • Recovery to 8 million passengers, Victoria I back on the Finnish route • Start of the construction of the Paldiski offshore wind farm quay • Contract with Estonian Stockpiling Agency on operating LNG quay in Pakrineeme harbour • Completion of double-ramp for ro-ro in Muug
Slide 3: Main events in 2023 (2/2)
Main events in 2023 (2/2) • Architectural design competition for passenger terminal A • FIN-EST Green Corridor agreement • Crevex2023 evacuation exercise at Muuga • Responsible Business Index gold label • TOP3 in Tourism Developer of the Year 2023 • Nasdaq closing bell ceremony in New York Author: M
Slide 4: Trends in Q4 by business segments
Trends in Q4 by business segments • PASSENGERS – continuing growth in PAX numbers (+5%), PAX vessel calls (+8%) and revenue (+8%). • CARGO – decline in cargo volume (-21%), vessel calls (-4%) and revenue (-19%). EU sanctions to Russia and overall economic decline. • FERRY – revenue growth (+2%) from
Slide 5: Passengers and PAX ship calls
Passengers and PAX ship calls Q4 2019-2023 2 500 2500 +5% 12 10,6 10000 10 8000 2 000 2000 0,9 1771 7,9 1690 PAX ship calls 8 7,0 Million PAX 6 111 Thousand PAX 125 6000 125 5 451 5 679 5 672 5 646 1 500 1500 Ship calls 1 380 6 1 273 4,3 4000 4 8,8 3,5 1 000 1000 7,0 6,2 1522 1596 2 2000 4,0 3,0 500
Slide 6: Cargo volume
Cargo volume Q4 2019-2023 25 6000 5000 800 22,4 21,3 700 19,9 1,9 5000 3874 -21% 20 1,8 4000 1,8 17,8 4,7 Ship calls 600 4,4 4000 Ship calls 472 2,1 4,5 Million tons 3052 15 Thousand tons 500 2,9 12,6 3000 3000 765 473 5,6 6,5 400 1,9 10 5,4 372 595 6,9 2,2 2000 2000 314 300 1743 1 654 1637 1458 165
Slide 7: Ferries
Ferries Q4 2019-2023 600 10 000 3,0 40 000 500 2,5 2,4 2,4 447 457 8 000 2,3 2,2 30 000 Thousand PAX / vehicles Million PAX / vehicles 2,0 400 2,0 6 000 22 842 22 972 21 518 Trips 300 5047 5085 1,5 21 010 20 118 20 000 225 231 1,1 1,1 1,1 4 000 1,0 1,0 200 1,0 10 000 2 000 100 0,5 0 0 0,0 0 2022 202
Slide 8: Icebreaker Botnica
Icebreaker Botnica Q4 2019-2023 70 100% 300 100% 90% 60 62 250 267 80% 261 80% 249 249 50 72% 73% 231 70% 68% 68% 67% 200 60% 63% 60% days days 40 43 50% 150 47% 30 40% 40% 100 20 30% 20% 20% 50 10 10% 0 0% 0 0% 2022 2023 2019 2020 2021 2022 2023 charter days % utilisation rate
Slide 9: Future outlook
Future outlook • Ongoing cost efficiency management • Passenger business recovery continues • New ro-ro and container lines • Increasing interest in offshore windfarms base harbour • In shipping, growing demand in the offshore market • New contract period for ferries or alternatives in foreign marke
Slide 10: Results of the Group
Results of the Group Q4 and 12 months In thousands Q4 2023 Q4 2022 +/- 2023 2022 +/- Revenue 28 030 28 243 -0,8% 116 646 121 703 -4,2% Adjusted EBITDA 10 374 8 941 16,0% 49 170 55 817 -11,9% Adjusted EBITDA margin 37,0% 31,7% 5,3 42,2% 45,9% -3,7 Operating profit 4 627 2 615 76,9% 24 630 30 787 -20,
Slide 11: Results by business segments
Results by business segments Q4 and 12 months Q4 segments (mEUR) 12 months segments (mEUR) Passenger H 4,2 8,8 Passenger H 19,6 37,5 2,3 8,1 18,6 37,9 Cargo H 2,2 8,0 Cargo H 11,3 30,8 3,2 9,9 16,8 38,8 Ferry 2,8 8,5 Ferry 15,3 36,6 3,0 8,3 14,6 34,8 Other 1,1 2,8 Other 3,0 11,7 0,5 1,9 5,7 10,3 0 5
Slide 12: Cash Flow and Financial Position
Cash Flow and Financial Position Cash flow statement Financial position 700 In thousands 2023 2022 +/– 600 Cash from operating 500 43 959 52 137 –8 178 activities 381 EUR million 400 378 Cash used in investing –17 181 –114 –17 067 activities 569 564 300 Free cash flow (FCF) 26 778 52 023 –25 245 200
Slide 13: Revenue generation
Revenue generation Passenger harbours Cargo harbours 50 50 38 38 39 40 40 Total revenue 8,1 8,8 9,9 31 30 30 MEUR MEUR 9,6 8,0 13,0 10,7 140 20 20 7,2 122 9,9 117 10,7 10,0 7,7 120 10 10 8,0 9,7 28,2 6,0 7,9 100 28,0 0 0 2022 2023 MEUR 2022 2023 80 36,3 31,4 60 Ferry Other 40 30,4 28,8 50 50 40 35 3
Slide 14: EBITDA generation
EBITDA generation Passenger harbours Cargo harbours 25 25 19 20 20 20 17 Total Adj. EBITDA 2,3 4,2 15 15 3,2 MEUR MEUR 11 80 7,5 6,1 3,5 10 10 2,2 5,7 5,1 2,4 5 6,3 5 3,1 3,6 5,1 60 56 2,5 3,5 0 0 49 9 2022 2023 2022 2023 10 MEUR 40 18 Ferry Other 14 25 23 20 15 12 20 18 15 15 15 13 14 MEUR 13 MEUR
Slide 15: Ask your question in Q&A
TALLINNA @ SADAM Ask your question in Q&A
Slide 16: Thank You!
Thank You! www.ts.ee • Marju Zirel (Head of IR), m.zirel@ts.ee