Tallink Grupp AS reported a net loss in Q1 2025 due to decreased passenger and cargo volumes.

From GlobeNewswire: 2025-04-24 02:00:00

Tallink Grupp AS presented its 2025 Q1 results on an English webinar. In Q1, they carried 970,359 passengers, down 12% from the previous year. Cargo units decreased by 31.9%, while car transports dropped by 10.9%. Revenue decreased by 14.4%, resulting in an EBITDA loss of €3.8 million and a net loss of €33.2 million.

The demand was affected by low consumer and business confidence, economic challenges in key markets, and geopolitical tensions. The company operated 14 ships, closed restaurants in Tallinn and Riga, invested €13.3 million, and focused on cost-saving measures. The net debt stood at €569.1 million, with interest and loan repayments totaling €20.8 million in Q1.

The consolidated revenue for Q1 2025 decreased by €23.1 million to €137.3 million. Operating revenue from ferry routes dropped by €16.7 million, resulting in a segment loss of €13.4 million. Passenger and cargo volumes declined on different routes, impacting revenue and profitability. The company invested €13.3 million mainly in cruise ship upgrades during the quarter.

The company reported a gross loss of €4.7 million in Q1 2025, compared to a profit in the same period last year. EBITDA was €3.8 million, down from €34.5 million in Q1 2024. Net financial expenses decreased by €1.4 million, while the net debt increased to €569.1 million. The company plans to pay a dividend of €0.06 per share in 2025.



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