Q1 2026 Tallinna Sadam AS Earnings Call Transcript
Key Points
- Tallinna Sadam AS (OTSE:TSM1T) signed a long-term agreement to use their regular vessel until the end of 2028, which is expected to be beneficial for the company.
- The new quay in Paldiski South Harbour is operational, receiving its first ship calls and serving as a multifunctional facility.
- The cruise season started early, with a positive outlook for a 20% increase in passenger numbers, supporting passenger volumes.
- There is a positive trend in the RoRo cargo segment, which is the largest cargo segment for the company.
- The company received EU grant money for an onshore power supply project, contributing positively to cash flow.
- Revenue decreased slightly by less than 1% due to fewer vessel calls, impacted by severe ice conditions and docking works.
- Adjusted EBITDA decreased by 17%, primarily due to higher fuel and electricity costs.
- Passenger numbers decreased due to docking works of regular ships, impacting revenue from passenger fees.
- The liquid bulk cargo segment experienced a significant decline, affecting overall cargo volumes.
- The company faced increased operating costs, including higher personnel expenses and repair works.
Welcome to our webinarum. My name is Valdo Kalm. There is Andrew Seit, our CFO. I would like to start then summary from Q1 and the main events. Q1 was quite tough. Revenue remained at the same level, but. But some volume degrees due to the heavy winter and also many docks on passenger vessels.
Also, there was a cost increase, mainly due to the high energy and fuel cost. And then in Q1, there was. On positive influence from last year by one of insurance payment for Poitnika repair works, almost EUR1 million. But then to the main events. As I mentioned, there was decrease in volumes mainly in.
Cargo segment to the winter conditions and we saw the degrees in the bulk and then we had several free docks of passenger vessels. But we signed agreement to use our very regular. Until the end of 2028. That means that we have to invest a bit. But all in all, the agreement is good for us. That means that Egola will be in operation till the end of 2028.
We finished our new quay in Paldeski South
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