AS Tallink Grupp (TAL1T) investor relations material

Executive summary

• Q3 revenue rose 5.8% to €246.7m; net profit increased to €43.8m from €40.8m, while EBITDA eased to €67.9m from €68.9m.

• Q3 passengers increased 2.8% to 1.816m and cargo units rose 7.8% to 64,980; passenger vehicles declined 1.1% to 249,100.

• 9M revenue grew 4.5% to €603.0m and net profit reached €19.4m versus €5.1m.

Financial highlights

• Q3 gross profit was €69.8m versus €67.2m; EBIT rose to €49.1m from €45.9m, and EPS increased to €0.059 from €0.055.

• 9M EBITDA was €104.3m versus €102.5m; EBIT increased to €46.7m from €33.3m.

• Q3 operating cash flow was €39.4m versus €50.3m; total net cash flow was negative €17.9m, leaving €21.8m cash at quarter-end.

• 9M operating cash flow was €103.8m and free cash flow €79.0m.

• Q3 capex was €3.4m versus €5.5m; 9M capex was €25.0m versus €27.2m.

Outlook and guidance

• Priorities include cost efficiency, profitable core-route operations, flexible vessel deployment and reliable service; low-season measures include charters, alternative vessel use and evaluating non-core asset divestments.

• Q4 fuel costs depend on prices, consumption and cost management; higher costs may not be fully passed through to ticket prices.

• No further route suspensions are planned; restoring Paldiski–Kapellskär is considered unlikely under current fuel prices, though the option remains under review.

• Romantika charter opportunities are being pursued, targeting work in Q4 or by Q1; low-season regular-service deployment is considered unlikely.

• Cargo growth continued into early Q4; low-season passenger activity and cost control remain priorities.