Tallink at a loss once again

Even though cash flow and profit per passenger increased in its third quarter, Tallink Group had to accept loss by 144% compared to last year.

Tallink announced that the profit on sales in its third quarter this year is 209,5 million euros, which is 3,5% higher in comparison with last year, profit on tickets per one voyage increased by 1,9 euros and the restaurants and stores on board profited 1,1 euros per passenger.

But despite all this, increase in profits did not exceed that of losses, resulting in financial damage. Among other issues, rise in fuel prices had the biggest impact on the increase in losses, costing Tallink 10,3 million euros more than last year.

Within the last nine months, Tallink has earned 15,6 million euros of net income, whereas last year the number was 20,6 million euros.

The amount of passengers in the third quarter was 2 098 356, which is 2,7% less than year ago. The managing board explained the drop in numbers with difference in tactics of campaigns and offers between second and third quarter.

As of May 31st, the company has money and equivalents worth of 49,93 million euros and account receivable from clients is 42,34 million euros. The enterprise has short-time interest carrying debt obligations worth 118 million euros and debts to suppliers reach 94 million euros.

Long-time debt obligations with interest are worth 916 million euros. Undivided profits reach 173 million euros.