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Tallink Grupp's profits dropped noticeably (traders.lt)

Pastebimai smuktelėjo Tallink Grupp pelnai (traders.lt)

Tallink Grupp, the company providing maritime transport services in Estonia, announced the results of the last quarter, which worsened, and especially the profits fell. During today's trading, the company's shares on the Tallinn Stock Exchange are rising: Tallink Grupp 0.593 (-1.66%) .

During the second quarter of this year, the mentioned group's income reached 210.047 million. euros compared to the same period before
year, is 8.6 percent less. The number of transported passengers fell by about six percent, while cargo increased by about two percent.

Since the cost of sales did not change during the mentioned period, and the administrative expenses grew, it is not surprising that the EBITDA profit fell by almost a third to 46.6 million. euros, and here the net profit shrank even 5.5 times to just 6.106 million. euros.

In total, after the first half of this year, Tallink Grupp's income reaches 370.449 million. euros, or about eight percent less than a year ago during the same period. EBITDA profit fell by more than fifteen percent to 81.1 million. euros, and the net profit shrank even 3.2 times to 8.678 million. euros.

Since the beginning of this year, Tallink Grupp's share price has fallen by about fourteen percent, and in the last one year – by 10.1 percent. For comparison, the value of the OMX Tallinn GI index fell by 1.6 percent and eight percent, respectively.

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