Tallink's 1st Quarter Loss Rises to 23 Million Euros (2)
Ferry operator Tallink had an operating loss of 23 million euros in the first quarter. The first quarter is normally a low season for the company, but the loss was one-third larger than the loss in the first quarter of last year.
Tallink's quarterly turnover fell by 1.2 percent to 188 million euros, uudised.err.ee reported today.
Not unlike the previous year, several ships underwent scheduled maintenance in the first quarter, but the results were also affected by the maintenance and upgrading of the cruise ship Silja Serenade. Also, the usually busy period of Easter fell in the second quarter this year.
In 2013, Tallink earned a profit of 43.3 million euros in total, buoyed by the tourist season, and the return on sales remained on the level of the previous year with 942 million euros. However, Tallink's net profit last year was 23 percent less than that of 2012, and the company admitted that the results did not meet their expectations.