Tallink Grupp AS · OMXTSE:TAL1T
Tallink Grupp AS — AS Tallink Grupp — Investor Presentation (April 2011)
25 slides from Tallink Grupp AS's investor presentation, April 2011
Slide 1: Company presentation April 2011
Company presentation April 2011
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 Revenues EUR 814 million EUR 1.9 billion asset base 6612 employees Over 8.4 million passengers annually 258 thousand cargo units
Slide 3: Tallink business model
Tallink business model Product offering 1-2 overnight cruises & passenger transportation Conferences Revenue structure (Financial year 2009/10) 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 2
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 46% of the Northern Baltic Sea
Tallink’s passenger market share is 46% of the Northern Baltic Sea (814M) Northern Baltic passenger market 18.2 million passengers 18 Other 16 Eckerö line 14 12 Viking line (8.4M) 10 8.4 million passengers 8 6 Tallink 4 2 0 05/06 06/07 07/08 08/09 09/10 5
Slide 6: Market shares
Market shares Passenger operations Est - Fin / Tallinn - Helsinki 3% 6% 6% 5% 6% 5% 7% 7% 5% 7% 8% 5% 4% 7% 7% 14% 13% 21% 19% 13% 10% 19% 20% 20% 25% 19% 18% 13% 15% 15% 10% 10% 10% 25% 25% 12% 11% 14% 15% 12% 22% 22% 22% 19% 19% 23% 22% 20% 15% 15% 16% On Estonia-Sweden & +3%* -12%* Latvia-Sweden
Slide 7: Highlights and milestones
Highlights and milestones Finland-Sweden OPERATIONS Riga-Stockholm St. Petersburg Finland-Germany Tallinn-Stockholm Estonia-Finland Hotel operations Newbuilt vessels € 1020 m Silja Line Baltic Queen Acquisitions € 780 m Superfast ferries SuperstarBaltic Princess Private Placement IPO Star Galaxy Vic
Slide 8: Tallink's position in the global ferry market
Tallink´s position in the global ferry market The World's top 25 Duty free & Travel Retail Shops 2009 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 759 748 Sales> US$ 1,000.0 million 2 Tallink 598
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: Future actions
Future actions The Group’s focus is on the core operations to realize past investments. No significant investments are planned. Aggressive sales and marketing activities are directed to the home markets. Strategic development towards key markets. Follow and adjust according to the clients expectatio
Slide 11: Results
Results quarterly seasonality breakdown Passengers (millions) Cargo (th. units) Revenue (EUR millions) EBITDA (EUR millions) 360 9 792 814 159 350 800 787 8.43 331 761 150 145 8.12 8 89 133 7.07 300 75 272 126 6.87 237 255 7 2.84 227 2.70 252 258 84 600 250 Q4 6 78 2.36 67 100 49 2.33 95 59 85 74 5
Slide 12: The dynamics of high seasonality on the profit level
The dynamics of high seasonality on the profit level in EUR million Net profit/loss by quarters 50 Net loss 8M Net profit 22M Summer 40 30 42 20 32 10 1 0 Autumn Winter Spring -3 -2 -1 -9 -17 -16 -10 -21 -20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 -30 08/09 09/10 10/11 Typical to the Tallink business mo
Slide 13: Passenger traffic
Passenger traffic Passenger number quarterly development 3.0 Millions 2.5 2.70 2.84 2.0 2.36 2.16 1.99 2.00 1.5 1.79 1.81 1.83 1.81 1.51 1.57 1.63 1.62 1.0 0.5 0.0 8 8 8 8 9 9 9 9 0 0 0 0 1 /0 /0 /0 /0 /0 /0 /0 /0 /1 /1 /1 /1 /1 07 07 07 07 08 08 08 08 09 09 09 09 10 1 2 3 4 1 2 3 4 1 2 3 4 2 Passen
Slide 14: Cargo traffic
Cargo traffic Cargo units & revenues Revenue in EUR m 80 100 Units in th 70 92 60 80 85 79 76 77 75 50 60 68 69 67 64 40 44 60 59 40 39 57 54 40 37 35 30 28 30 25 24 25 26 20 23 23 20 20 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 07/08 07/08 07/08 07/08 08/09 08/09 08/09 08/09 09/10 09/10 09/1
Slide 15: Consolidated Income Statement
Consolidated Income Statement Full year September - August 6 months September - February (in EUR million) 2008/2009 2009/2010 2009/2010 2010/2011 Sales 792 814 339 392 Cost of sales (1) (627) (646) (292) (332) Marketing, general & admin (1) (101) (94) (46) (50) EBITDA 133 145 37.4 45.7 Margin (%) 16
Slide 16: Costs breakdown
Costs breakdown Structure Costs in EUR(th) 2008/2009 2009/2010 2008/2009 2009/2010 change Cost of goods 22% 21% -174 145 -169 981 -2% Staff costs 15% 15% -119 029 -118 048 -1% Marketing & Administrative expenses (1) 12% 11% -91 893 -86 012 -6% Port & stevedoring costs 11% 12% -90 947 -91 546 1% Fuel
Slide 17: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Full year September - August 6 months September - February (in EUR million) 2008/2009 2009/2010 2009/2010 2010/2011 Operating cash flow 146 164 45 44 Capital expenditure (163) (6) (4) (4) Asset disposal 1 7 6 0 Free cash flow (16) 165 47 40 Debt financing 59 (107) (3
Slide 18: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (in EUR million) 31.08.2008 31.08.2009 31.08.2010 28.02.2011 Total assets 1,898 1,947 1,871 1,822 Non-current assets 1,723 1,815 1,741 1,710 Current assets 175 132 130 112 - of which cash - 67 50 57 40 Total liabilities 1,247 1,304 1,203 1,163 Interest be
Slide 19: Loan repayment schedules versus fleet value
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 Aug 31. Aug 31. Aug 31. Aug 31. Aug 31. Aug 31. Aug 31. Aug 31. Aug
Slide 20: Age of fleet
Age of fleet Age of fleet by value (EUR m) Tallink Grupp ships age (value-weighted average): Tallink + Silja core fleet – 7.7 years Superfast fleet – 8.3 years 20+ years Ships out of core operations and 11-20 years cargo vessels – 23.5 years 1-5 years World-wide ships age*: Ferries – 21.2 years 6-10
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 in onthe 31.08.2010 end of Q2 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 (Eas
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
Slide 25: Contacts
Contacts Janek Stalmeister Andres Hunt Harri Hanschmidt CFO, Member of the Management Board Vice Chairman of the Management Board Advisor to the Management Board, AS Tallink Grupp AS Tallink Grupp Head of Investor Relations Sadama 5/7, 10111 Tallinn, Estonia Sadama 5/7, 10111 Tallinn, Estonia AS Tal
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