AS Tallinna Sadam has strong financial results in 2024 Q2 and 6, showing revenue and profit growth.

From GlobeNewswire: 2024-08-12 01:00:00

Tallinna Sadam earned 32 million euros in sales revenue and 4 million euros in profit in the second quarter. Revenue for six months reached 60 million euros with a profit exceeding 9 million euros. Investment volume increased to 7 million euros in the second quarter and reached 25 million euros year-to-date. Sales revenue, adjusted EBITDA, and profit showed year-on-year increases in the second quarter and on a semiannual basis. Operating costs decreased, resulting in positive changes for adjusted EBITDA (9%) and profit (32%). The financial results were positively affected by increased passenger numbers and stabilized cargo volumes, with growth seen in ferries and the icebreaker Botnica. The group’s operations will benefit from winning a ferry services tender and signing a contract for the Botnica for the next five years. Key financial figures for the second quarter and six months showed growth in revenue, adjusted EBITDA, and profit. Revenue increased by 2.4 million euros due to higher revenues from the icebreaker MSV Botnica and ferry services. Adjusted EBITDA grew by 2.3 million euros and profit by 2.4 million euros year-on-year. Investments reached 25 million euros in the first half of 2024. The company will detail financial results in webinars on August 12.



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