Infortar (INF1T) Q1 2025 earnings summary

Executive summary

• Q1 revenue was €447.357m vs €372.584m YoY; EBITDA was €27.661m vs €74.004m, and net loss was €14.561m.

• Results reflected weak seasonal demand at Tallink and lower energy sales.

• Q1 investments totaled ~€22m; priorities included business growth and improved profitability.

• Proposed dividend was €3/share, with total distributions of ~€61m in two installments during 2025.

Financial highlights

• Revenue was €447.357m vs €372.584m; gross profit €26.068m vs €50.004m; EBIT -€0.655m vs €67.624m.

• EBITDA was €27.661m vs €74.004m; EBITDA margin was 6.2% vs 19.9%.

• Net loss was €14.561m vs net profit €62.062m; parent-attributable loss was €4.479m vs profit €62.167m; EPS was -€0.22 vs €14.62.

• Reported revenue included -€26.945m from hedging instruments vs +€31.832m; customer-contract revenue was €474.302m vs €340.752m.

Outlook and guidance

• Priorities were continued investment in business growth and improved profitability; management reaffirmed its dividend policy and cited balance-sheet and liquidity capacity to invest.

• Tallink’s outlook was more optimistic after its most challenging seasonal period; June–August is its peak revenue and profit season.

• Energy development pipeline was ~100 MW; projects include a Halinga biomethane plant and Latvian electricity storage investment, subject to market conditions and other factors.

• DEPO Lasnamäe retail development is scheduled for completion in autumn 2026; Rail Baltica Kangru–Saku works are planned through March 2028.