1H 2014 Profits of Port of Tallinn Up 16%

By Joseph R. Fonseca
Friday, August 01, 2014
Port of Tallinn


Port of Tallinn earned an unaudited half-year net profit of 20.2 million euros with company’s turnover reaching 59 million euros. Compared to last year the turnover increased by 7% and the net profit by 16%.

“The first half of this year introduced the best ever figures for Port of Tallinn, both financially and concerning the record number of passengers,” said Ain Kaljurand, the Chairman of the Management Board of AS Tallinna Sadam.
The turnover of state-owned Port of Tallinn increased by 7% to 59 million euros, while the operating expenses had a raise of 3.3% and reached 26.4 million euros during the same period.
“The best ever turnover and profit were accomplished due to the revenue of traditional port activities as well as employing the icebreaker Botnica at the offshore-duties during the summer navigation periood,” added Kaljurand.
Compared to the previous year the volume of cargo handled in the ports of Port of Tallinn increased by 2% to 15.2 million tonnes. The number of passengers raised by 5% to a record of 4.4 million people, lead by the constant growth on the Tallinn-Helsinki route.
During the first half-year period Port of Tallinn transmitted to Estonian state budget a record amount of dividends – 42 million euros. In addition to the dividend payment an income tax of 11.2 million euros was provided.
In May 2014 Port of Tallinn opened a new 9.34 million euro cruise ship quay in Vanasadam. The quay enables Tallinn to moor cruise ships up to 340 metres in length, up to 42 metres in width, and with the draft of up to nine metres.
The operator finished the installation of terminal devices in Muuga Harbor’s container terminal infrastructure and the terminal operated as planned by the end of the first 6 months of this year.
In six months the ports of Port of Tallinn were visited by cargo ships 1051 times and cruise ships 2327 times.

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