AS Tallinna Sadam (TSM1T) AGM 2025 summary

Opening remarks and agenda

• The meeting was held at the main building, emphasizing its historical significance and outlining procedural rules for participation and voting.

• The agenda included a video greeting from the Minister of Infrastructure, reports from the Supervisory and Management Boards, financial results, and voting on key resolutions.

• Voting was conducted using remote devices, with pre-meeting votes included in the quorum.

Financial performance review

• Passenger numbers reached 8.2 million, a 3.6% increase, with growth across all main lines.

• Cargo volumes reversed previous declines, with growth in all categories except liquid bulk due to sanctions.

• Adjusted EBITDA grew by 8% to EUR 53.1 million, with an EBITDA margin of 44.4%.

• Operating profit increased by 18%, and net profit rose over 20% to EUR 19.1 million.

• Investments totaled nearly EUR 39 million, focusing on wind farm quay, terminal design, and vessel upgrades.

Board and executive committee updates

• The Supervisory Board held 11 meetings, focusing on strategy, risk management, and innovation.

• New members were appointed to the Supervisory Board, with terms and competencies aligned to strategic needs.

• The board emphasized stable dividend policy and a balanced business model.