From GlobeNewswire: 2024-05-10 01:00:00

Tallinna Sadam earned 27.9 million euros in revenue and 5.2 million euros in profit in the first quarter. Despite a decrease in revenue, EBITDA, and profit compared to last year, the company maintained a 46% EBITDA margin and invested 18.0 million euros in the quarter.

The company saw stable growth in passenger business and stabilization in cargo business in Q1. While revenue declined in some segments due to planned dock work on ships and increased fuel costs for passenger ships, investments mainly focused on developing wind turbine docks.

Tallinna Sadam will discuss financial results in web seminars on May 10 at 10:00 and 11:00, with first seminar in Estonian and second in English. Key financial figures for Q1 2024 include a revenue of 27.9 million euros, EBITDA of 12.7 million euros, 7.0 million euros in operating profit, and 5.2 million euros in profit.

Revenue decreased in Q1 2024 by 0.5 million euros (1.7%), with drops in all areas except passenger and cargo fees. EBITDA decreased by 0.8 million euros, mainly due to reduced revenue and higher costs overall. Despite investment growth, profit fell by 0.5 million euros (8.9%) compared to the previous year.

Investments in Q1 2024 totaled 18.0 million euros, significantly higher than the previous year, focusing on wind turbine dock construction and regular maintenance of passenger ships. Tallinna Sadam operates one of the largest ports in the Baltic Sea and provides various maritime services through subsidiaries.



Read more at GlobeNewswire:: ASi Tallinna Sadam 2024 I kvartali majandustulemused