Port of Tallinn freight and passenger volumes grow in Q2 2018
The freight volume of the ports under the auspices of part state-owned Port of Tallinn (AS Tallinna Sadam) saw an increase of 2.5% year-on-year (y-o-y) to 5.1 million tonnes in the second quarter of 2018, it is reported.
This announced rise in freight volume follows the floating of the company on the Estonian stock exchamge, and is accompanied by a reported increase in passenger numbers of 0.2 percent (to 2.9 million in total) over the same period.
First half of 2018
In the first six months of 2018, the cargo volume of the Port of Tallinn reportedly totalled 10.1 million tonnes, which also represented an increase y-o-y, of 1.4%, the company informed the stock exchange
As regards passenger volume, 4.8 million passengers visited the harbours run by the Port of Tallinn in the first half of 2018, a small rise of 02.% y-o-y.
Port of Tallinn owns one of the largest cargo and passenger port complexes in the Baltic Sea region, which in 2017 serviced 10.6 million passengers and 19.2 million tonnes of cargo.
The Port of Tallinn group's sales in 2017 totalled €121.3 million, adjusted for Earnings Before Interest, Taxes, Depreciation and Amortization
(EBITDA) was €66.5 million with net profit reaching €26.4 million. Shares in AS Tallinna Sadam were listed on the main list of Nasdaq Tallinn from June 13 this year, following the floatation.
Following this IPO, the Republic of Estonia is now the biggest shareholder of AS Tallinna Sadam with a stake of 67%.
Editor: Andrew Whyte