London - According to the unaudited financial results, Tallink Grupp AS earned a record amount of EUR 967 million revenue in 2017. In addition, according to the figures released to the Stock Exchange today, the group’s highest ever number of passengers in one year – over 9.8 million – significantly increased the revenue of the group’s restaurants and shops to nearly 537 million euros, taking the Grupp’s net profit for 2017 to a total of EUR 49 million.
Compared to the previous financial year, the Grupp’s turnover increased by 3.1% and the net profit by 11.8%. The main drivers for the increased turnover in 2017 were positive developments on several of the Grupp’s routes and in a number of the Grupp’s segments during the year.
The launch of the Grupp’s newest vessel, Megastar, on the Tallinn-Helsinki route early in the year increased the capacity of this route and improved the efficiency. The most positive development in 2017 was the growth of the cargo business. The Cargo volumes increased in all geographical segments in total by 11.0%, the cargo revenues increased by 13.3% or EUR 13.8 million compared to last year and amounted to EUR 117.7 million in 2017. Growth on the Riga-Stockholm route was achieved through the addition of a second vessel on the route in December 2016 and the Tallinn-Stockholm route also saw some positive developments with more than a million passengers transported on the route for the first time ever. Commenting on the results, Janek Stalmeister, CEO of AS Tallink Grupp said: “2017 was a record year for Tallink Grupp in terms of passenger numbers and several other indicators. I am pleased that our big investment Megastar has been very successful and played an important role in the Grupp’s increased profits, despite increasingly tight competition. Our cargo business also saw considerable growth on all our routes last year, the positive impact of which on the year-end financial results cannot be underestimated.“ The increase in passenger numbers has had a positive impact on the revenue of the Grupp’s restaurants and shops, increasing it by EUR 15.3 million year on year to a total of EUR 536.7 million for the full year and the total ticket revenue by EUR 6.7 million to a total of EUR 242.7 million for the year. The Grupp’s total investments in 2017 amounted to EUR 219,3 million and the biggest investments were the financing of Megastar at the start of the year and the investments in the continuing ship renewal programme. In 2017 Tallink Grupp vessels completed a record number of 9,966 voyages in total. AS Tallink Grupp is the leading passenger and cargo transportation service provider in the Northern region of the Baltic Sea. The company owns 14 vessels and operates under the brands of Tallink and Silja Line on 6 different routes. AS Tallink Grupp employs more than 7,400 people in the region and over 9.8 million passengers travelled on its ferries in 2017. AS Tallink Grupp is listed on the Tallinn Stock Exchange.