Baltic Sea Shipping Company Increases Profits in Q1 2012

AS Tallink Grupp announce unaudited net profit in second quarter 2012 increased by 47%.

AS Tallink Grupp is one of the largest ferry companies in the region, operating six routes between Finland, Sweden, Estonia and Latvia. The company has over 9 million passengers annually (2010/2011) and employs 6800 people.

The leading shipping company on the Baltic Sea, AS Tallink Grupp announce that the company has increased the unaudited net profit of second quarter by 47 percent, reaching 20 million Euros. The revenue of the second quarter of the current financial year increased by almost 7 million Euros or 3 percent to total 244.8 million Euros.

Steady growth despite of the adverse weather, unstable macroeconomic climate and volatile fuel prices describe the second quarter (1st of April – 30th of June) operations of AS Tallink Grupp and its subsidiaries. The Group carried a total of 2.4 million passengers in the second quarter of 2012 which is nearly 2 percent more than in the same period the last year. Market share of the company improved overall.

The Group’s unaudited consolidated revenue for the second quarter of 2012 financial year increased by 6.8 million Euros or 3 percent to 244.8 million Euros.
Total unaudited Gross profit for the second quarter amounted to 57.3 million Euros, which is 13.6 percent of increase and EBITDA amounted to 46.2 million Euros, more than 9.6 percent more than in the same period of last year.

In the second quarter of 2012 the Group’s unaudited net profit was 20 million Euros compared to 13.6 million Euros last year. The total cumulative net profit for the six months of the 2012 financial year amounts to 1 million Euros compared to net loss of 3.5 million Euros a year ago.