Tallink turnover decreases 3% in second quarter, profit by more than half

Tallink ships pictured at port together with a cruise ship. (Siim Lõvi/ERR)
8/11/2016 11:27 AM
Category: Business

During Q2 of 2016, Tallink Group earned a net income of 9.8 million euros with a turnover of 245.2 million euros.

Compared to the same period last year, revenue decreased by nearly 9 million euros, or 3.4 percent, and profit by 18.7 million euros, or 66 percent, data from an unaudited interim report show.

According to the company, profitability was affected by a decline in turnover due to a change in income structure, lower fuel consumption, but also sales and marketing expenses, the chartering costs of high-speed craft MS Superstar as well as increased ship operating expenses.

"The second quarter's net sales and operating profits were lower than during the same period last year in connection with the sale of the MS Regina Baltica and MS Silja Festival as well as the expiration of the MS Silja Europa charter party," noted Tallink.

Q2 ship charter revenues decreased by 11.8 million euros compared to the same period in 2015, as fewer ships were chartered out.

The overall number of passengers, however, increased 2.8 percent to 2.42 million during Q2.

Editor: Aili Sarapik

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