Net sales in Q2 came in close to our expectations, but adjusted EBITDA was below our forecast. The adjusted EBITDA margin in Q2 was 46% compared to our forecast of 47%. However, part of the cost increases were related to one-off items that do not burden...
Group net sales was EUR 31.1m in Q2 (Nordea est. EUR 31.0m). Harbour calls by vessels declined by 3.1% y/y. The amount of passengers decreased 1.1% in Q2 y/y meanwhile Cargo segment’s volumes decreased by 2.3%. Adjusted EBITDA was EUR 14.2m in Q2 (Nordea...
The share price has declined by 14% since the Q1 report. Elevated fuel prices, combined with declining cargo volumes in H1, are the main reasons behind the share price development. Demand for a new quay in Paldiski may have also been lower than the company...
Tallinna Sadam's net sales were close to our expectations, but adjusted EBITDA came in below our forecast in Q1. The adjusted EBITDA margin was 41% (49%). Weakness came especially from the Ferry segment, in which icy conditions increased fuel consumption...
Group net sales was EUR 28.2m in Q1 (Nordea est. EUR 28.1m). Harbour calls by vessels declined by 7% y/y. The amount of passengers decreased 3% in Q1 y/y meanwhile Cargo segment’s volumes decreased even by 8%. Adjusted EBITDA was EUR 11.6m in Q1 (Nordea...
Operational volumes were weaker than we expected in Q1, and we therefore lower our net sales estimates for the quarter. Earnings growth this year could be sensitive to utilisation rates for the new quay in Paldiski, but no major tenant has been announced...