ESTONIA. Leading cruise ferry company Tallink Grupp today (23 July) reported half-year results with shop and restaurant revenues climbing +1.4% year-on-year to €170.6 million. Retail traditionally accounts for around three-quarters of the combined shopping and dining business.
The commercial performance broadly mirrored passenger traffic growth of +1.3% year-on-year to 2.49 million in the half.
Group revenue grew +3.5% to €356.4 million, with EBITDA rising +8.5% to €36.4 million and net losses narrowing to €24.5 million from €36 million a year ago.
In Q2, shop and restaurant sales dipped -1% year-on-year to €101 million on a -2.2% decline in passenger traffic to 1.45 million.
Tallink Grupp Chairman of the Management Board Peep Jalakas said, “Looking at the first half of the year as a whole, we see clear signs of improvement – both revenue and EBITDA have grown.
“However, geopolitical tensions and volatility in energy markets continue to affect our operations. Developing our services, investing in fleet upgrades and optimising our core operations will create the conditions needed for profitability to improve in the periods ahead.”
The Group invested €21.5 million during the first half of the year, with much of this allocated to maintenance and upgrades to Silja Symphony, Baltic Queen and Victoria I vessels. 🛳️
