Tallink is the leading short cruise and ferry operator

Tallink is the leading short cruise and ferry operator

Tallink is the leading short cruise and ferry operator
OVERNIGHT CRUISE &
PASSENGER TRANSPORTATION
ONBOARD
TAX-FREE SHOPPING
ONBOARD ENTERTAINMENT
5 HOTELS
AS Tallink Grupp | Sadama 5/7 | Reg. Nr.:10238429 | Phone: +372 640 9800 | Fax: +372 640 9810 | E-mail: [email protected]
March 2015
Investor Relations | E-mail: [email protected] | Phone: +372 640 8981
We operate 6 routes
1957
1965
Other
Prague
Helsinki-Tallinn
Helsinki-Tallinn
Superstar
Built: 2008
Length: 177m
Passengers: 2080
Lanemeters: 1930
Turku-Stockholm
Baltic Princess
Built: 2008
Length: 212m
Passengers: 2800
Lanemeters: 1130
Tallinn-Helsinki
Baltic Queen
Built: 2009
Length: 212m
Passengers: 2800
Lanemeters: 1130
Tallinn-Stockholm
Victoria I
Built: 2004
Length: 193m
Passengers: 2500
Lanemeters: 1030
Tallinn-Stockholm
Romantika
Built: 2002
Length: 193m
Passengers: 2500
Lanemeters: 1030
8.9 million
passengers
8
Tallink
6
4
2
One vessel
2011
2012
2013
Management
buyout
1996
166 th
passengers
2002
Tallinn-Stockholm First newbuilt
route
cruise ferry
Chartered out
Silja Europa
Built: 1993
Length: 202m
Passengers: 3123
Lanemeters: 932
IPO
2003 2004 2005
Hotel
operation
starts
Rights Issue
2006
Tallink and Silja 7M passengers
Line merged
reached
Turku-Stockholm
Galaxy
Built: 2006
Length: 212m
Passengers: 2800
Lanemeters: 1130
Chartered out
Silja Festival
Built: 1986
Length: 171m
Passengers: 2023
Lanemeters: 885
Helsinki-Stockholm
Helsinki-Stockholm
Silja Serenade
Built: 1990
Length: 203m
Passengers: 2852
Lanemeters: 950
Tallinn-Helsinki
Sea Wind
Built: 1972
Length: 155.0m
Passengers: 260
Lanemeters: 1100
Chartered out
Regina Baltica
Built: 1980
Length: 145m
Passengers: 1500
Lanemeters: 840
Paldiski-Kapellskär
Regal Star
Built: 1999
Length: 157m
Passengers: 80
Lanemeters: 2087
Chartered out
Atlantic Vision
Built: 2002
Length: 203.3m
Passengers: 728
Lanemeters: 1900
Chartered out
Stena Superfast VIII
Built: 2001/2002
Length: 203m
Passengers: 717
Lanemeters: 1900
Chartered out
Stena Superfast VII
Built: 2001/2002
Length: 203m
Passengers: 717
Lanemeters: 1900
Riga-Stockholm
Isabelle
Built: 1989
Length: 171m
Passengers: 2480
Lanemeters: 850
e 35 %
Market &
Admin
11%
t 11
r
o
13 % P
Tallink Hotel
Riga
2009
2010
8M passengers reached
2011
2014
9M passengers 1.3M
Club One members
1.7M Club One
members
We operate 5 Hotels (1300 rooms)
Tallink City
25+
years
16-25
years
1-10 years
Swe-Est
11%
11
Over 1.3 billion euros
invested during the fleet
investment program
2008
Swe-Lat
6%
Other
13%
Amortization
9%
Other 3%
F ue l
Age of fleet by value
Silja Symphony
Built: 1991
Length: 203m
Passengers: 2852
Lanemeters: 950
6%
COST
STRUCTURE
2014
Private
placement
2001
Sw
ni -
%
Viking
line
10
0
ff 1
Ship
operating Financial
9%
4%
Eckerö
CZECH REPUBLIC
REPUBLI
REVENUE
BY LINES
%
FRANCE
Sta
Paris
19.3 million
passengers
Our fleet consists of 18 ice class ships and has a value of 1.5 billion EUR
Star
Built: 2007
Length: 186 m
Passengers: 1860
Lanemeters: 2000
Other 4%
BELGIUM
BELGIU
1989 1990
Tallinn-Helsinki
route
ra n
stau t & sho
e
R
NETHERLANDS
NETHERLAND
S
12
Finnish
Service between Service between
Steamship
Turku &
Helsinki &
Co founded
Stockholm
Stockholm
Leases 5%
24 %
18
2%
25
t
e
Tick
POLAND
POLAN
D
14
Tallink
founded
Vilnius
Accom
REVENUE
STRUCTURE
od s
o
G
20
P/E2 1
ROA4.1%
ROE3.6%
Equity Ratio
46%
EBITDA Margin
16%
Book value per share 1.16 EUR
1928
LITHUANIA
Fin - Est 35
Ca
r
%
London
2.0 m
LATVIA
p
53%
Amsterdam
The passenger
market share of Tallink is
46%
Warsaw
Berlin
Brussels
in the northern Baltic Sea
High safety level &
environmental standards
Silja Line
established
1910
ESTONIA
ESTONI
Riga
GERMANY
GERMANY
Rostock
Key information 2014, unaudited
History 1883
9.6 m
2.9 m
16
Passengers
8 881 732
Sales
921 mil EUR
EBITDA
151 mil EUR
Net Profit
27 mil EUR
Average number of employees
6 952
EPS
0.06
Stockholm
DENMARK
DENMAR
K
Copenhagen
Swedish
13%
Current strategic cornerstones and competitive advantages:
Strong market share
& brand awareness
St. Petersburg
Tallinn
RUSSIA
Paldiski 1.3 m
Kapellskär
NORWA
NORWAY
PASSENGERS Finnish
48%
2014
Estonian
20%
Current focus is on core operations to realize past investments. Along with the
optimal fleet deployment the emphasis is on the profitability improvement and
deleveraging.
Wide route
network
Oslo
11%
go
Long term objectives toward increasing the company value and profitability:
- Strive for the highest level of customer satisfaction
- Increase volumes and strengthen the leading position on our home markets
- Develop a wide range of quality services directed to different customers and pursue new growth opportunities
- Manage the optimal debt level that will allow sustainable dividends
FINLAND
Turku 5.5 m
Mariehamn
Helsinki
SWEDEN
Other
RUS
9%
LIT
3%
LAT 3%
4%
Tallink’s vision is to be the market pioneer in Europe by offering excellence in leisure
and business travel and sea transportation services
Most modern
fleet
CARGO
TRANSPORTATION
CITY BREAK
F
Key points
www.tallink.com
Tallinn
Rooms: 332
Conference
Nightclub
Pirita Top Spa
Tallinn
Tallink Express
Tallink Spa &
Conference
Rooms: 163
Express Cafe
Rooms: 275
Aqua Spa
11-15
years
Tallinn
Tallinn
Tallink Hotel
Riga
World-wide ships age
Ferry ships 24.4 years
Cruise 12.5 years
Riga
Rooms: 267
Wellness &
MediSPA
National Heritage
Rooms: 256
Conference
GYM
60% of the hotel guests
arrive with Tallink ships
Corporate factsheet
2013
2014
Revenue
944
942
921
Cost of sales
743
752
740
Marketing & GA expanses
109
108
112
EBITDA
166
156
151
18%
17%
16%
56
43
27
163
168
151
9
43
49
119
46
51
66
72
65
Total assets
1 741
1 722
1 686
Ships
1 510
1 479
1 451
Interest bearing loans
840
794
743
Shareholders' equity
761
771
778
EBITDA margin
Net Profit
Cash flow from operations
Investments
Loan repayments
Cash position
Ferry operator by gross tons
Cash
Intangibles
Other
1600
1400
Shareholders
Equity
1200
1000
800
Ships
600
Loans
400
200
0
Assets
The world's top duty free & travel retail shops 2013
Rank Company
Gross tons
1
Stena Line
878 919
2
Grimaldi Lines
750 089
3
Tallink
537 232
4
P&O Ferries
436 092
5
Scandlines
363 341
Ferry operator by beds
Rank Company
Beds
1
Tallink
24 428
2
Viking Line
16 562
3
Stena Line
15 619
4
Tirrenia
10 442
5
Grand Navi Veloci
10 434
Ferry operator by revenues (mEUR)
Rank Company
Revenue
1 625
1
DFDS Group
2
Stena Line
1 090
3
942
Tallink
4
Scandlines
564
505
5
Finnlines
Other
Liabilities &
Equity
Rank Location
Sales> US$ 1,000.0 million
1
Dubai International Airport, U.A.E.
2
Seoul - Incheon Int'l Airport
3
Singapore - Changi Airport
4
London - Heathrow Airport / All Shops, UK
5
Bangkok - Suvarnabhumi Airport, Thailand
6
Hong Kong - Hong Kong International Airport
Sales> US$ 800.0 million
7
Shanghai - Pudong Airport, China P.R.
8
Beijing - Capital Airport, China P.R
Sales> US$ 600.0 million
9
Paris - Charles de Gaulle Airport, France
10 Frankfurt – Frankfurt-Main Airport, Germany
11 Tallink/Silja Line
Finland-Sweden
Passengers
3
60.0
84.3
33.3
40.0
31.7
275
325
2011
8.4
8
7
4
3
2.1
2.1
8.9
300
259
2.1
2.8
283
284
71
70
302
79
310
2.7
2.8
2.7
2.6
200
1.6
2.3
2.4
2.4
2.4
100
70
54
69
76
400
76
72
80
0
1.8
09/10
214
Million
2013
2011
2.0
2012
1.9
2013
68
1.9
2014
0
09/10
67
2011
73
2012
67
2013
79
944
942
223
224
921
224
150
145
282
278
263
100
2014
163
166
31
32
156
30
0
09/10
Q4
245
249
246
50
183
2011
194
2012
191
2013
188
250
77
Q3
73
2014
0
09/10
150
100
30
27
300
200
78
10
181
151
64
238
Chairman of the Management Board, CEO
Vice Chairman of the Management Board
Member of the Management Board
Member of the Management Board
Member of the Management Board
Quarterly seasonality
78
202
158
77
2014
Janek Stalmeister
Andres Hunt
Lembit Kitter
Peter Roose
Kadri Land
EBITDA
200
2.0
11075 shareholders
41
272
2014
Baltic Cruises Holding 17%
Nordea Bank Finland PLC /
non-resident legal entities %
ING Luxemburg S.A. 7%
State Street Bank and Trust Omnibus fund 2%
Skandinaviska Enskilda Banken S.A. 2%
JP Morgan Chase London Clients account,
Vanguard Marketing Corporation 1%
Firebird Republics fund Ltd. 1%
Skandinaviska Enskilda Banken Finnish Clients 1%
Luksusjaht AS 1%
23%
24%
11 930 shareholders
Ticket
272
77
2
1
800
814
600
69
2.2
908
78
67
6
5
2.1
9.1
2012
Revenue
Million EUR
9.1
Thousand units
9
2013
Tallink has been a leading stock on the Baltic market in liquidity, market capitalization and has
a retail shareholder base over 11 000 shareholders
Quarterly passenger spending, highs and lows
Cargo units
9.3
2012
29.7
0.0
375
Million EUR
225
The segment result is the result before administrative expenses, financial expenses and taxes
10
0.25
AIRPORT SHOPS
AIRPORT SHOPS
AIRPORT SHOPS
High season
Million Eur
Passengers
0.35
AIRPORT SHOPS
FERRIES
AIRPORT SHOPS
Onboard
10.0
27
175
0.45
AIRPORT SHOPS
51.6
20.0
125
0.55
81.3 Total
52.6
30.5
30.0
676 676
1
75
0.65
AIRPORT SHOPS
AIRPORT SHOPS
Infortar 36%
53.1
50.0
50.0
973 254
5
25
0.75
70.0
4 518 013
83
TAL1T
0.85
Ownership & Management
83.6
83.3
90.0
2 713 789
Estonia-Finland
-25
0.95
Source: Generation Research 2014
80.0
Others
1.05
EUR
Result
1.15
AIRPORT SHOPS
AIRPORT SHOPS
AIRPORT SHOPS
AIRPORT SHOPS
AIRPORT SHOPS
AIRPORT SHOPS
Passenger revenue
Sales
Latvia-Sweden
Remarks
12 Taipei - Taoyuan International Airport, Taiwan
Sales> US$ 300.0 million
13 Sao Paulo - Guarulhos Int'l Airport
14 Amsterdam - Schipol Airport, Netherlands
15 Oslo - Gardermoen Airport
Source: ShipPax MARKET: 14
Segment result by routes 2014
Estonia-Sweden
Share price development
Our position in the world
1800
EUR
2012
Million EUR
Million EUR
Financials
www.tallink.com
238
272
214
183
245
282
223
194
249
278
224
191
247 263
188
224
50
42
46
11
10
7
2011
2012
2013
47
41
4
2014
Q2
Q1
0
-50
Revenue
Q1
Q2
Q3
Q4
2011
Q1
Q2
Q3
Q4
2012
Net profit
Q1
Q2
Q3
Q4
2013
Q1
Q2
Q3
Q4
2014
Typical to the Tallink business model is that most of the result is made in in the summer high
season