Tallinna Sadam AS (FRA:K9B)

Q3 2025 Tallinna Sadam AS Earnings Call Transcript

Nov 10, 2025 / 09:00 AM GMT

Release Date Price: €1.15

Transcript

Key Points

Positve

Cargo volumes increased by approximately 8%, indicating strong performance in this segment.
Passenger numbers showed growth, with a notable increase in cruise business activity.
The Icebreaker Botnica's profitability improved due to reduced maintenance and repair costs.
Revenue increased by 1.5% in Q3, driven by higher vessel and passenger fees.
Adjusted EBITDA increased by almost 17%, reflecting improved operational efficiency and cost management.

Negative

Revenue from the charter fee decreased due to Botnica being chartered out for five fewer days compared to last year.
Sale of electricity revenue was slightly lower due to reduced volumes, particularly in cargo ports.
Nine-month period revenue decreased by 1.4%, primarily due to lower Botnica operations in Q2.
Income tax expenses increased due to the abolition of a lower tax rate exception for regularly paid dividends.
The market for offshore wind power construction is volatile, leading to a postponed decision on new vessel orders.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TSM1T.TL - Tallinna Sadam AS
Q3 2025 Tallinna Sadam AS Earnings Call
Nov 10, 2025 / 09:00AM GMT

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Conference Call Participants
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* Valdo Kalm
Tallinna Sadam AS - Chairman of the Management Board, Chief Executive Officer
* Andrus Ait
Tallinna Sadam AS - Chief Financial Officer

=====================
Presentation
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Valdo Kalm, Tallinna Sadam AS - Chairman of the Management Board, Chief Executive Officer [1]
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Good morning, dear investors. My name is Valdo Kalm, and our CFO, Andrus Ait, is there, and we are ready to introduce our Q3 and nine-month results.

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Andrus Ait, Tallinna Sadam AS - Chief Financial Officer [2]
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