AS Tallink Grupp (TAL1T) investor relations material

Executive summary

• 2025 was a challenging year due to economic recession, weak consumer confidence, and geopolitical instability, especially in Finland and Estonia, but internal measures such as vessel sales and charters helped optimize costs and maintain dividend payments.

• Despite early-year losses and declining passenger and cargo volumes, the year closed with an EBITDA of €130.1 million and net profit of €17.3 million, down from €40.3 million in 2024.

• Management proposes a dividend of €0.06 per share for 2026, aiming to position the company as a stable dividend stock.

• Significant loan repayments and dividend payments were executed, reflecting active capital management.

Financial highlights

• Full-year revenue was €765.3 million, with 5.53 million passengers, 245,000 cargo units, and 760,000 passenger cars transported.

• EBITDA for the year was €130.1 million; net profit was €17.3 million.

• Q4 2025 revenue rose 2.4% year-over-year to €188.0 million; Q4 net profit was €12.2 million, reversing a €5.2 million loss in Q4 2024.

• Q4 2025 EBITDA was €27.6 million, with a margin improvement of nearly 1%.

• Interest-bearing debt decreased by €110.5 million; net debt at year-end was €432.4 million.

Outlook and guidance

• No plans to purchase or build new vessels in the next three years, pending clarity on future maritime fuels.

• Management remains optimistic for 2026, expecting moderate recovery in cargo volumes and continued focus on cost efficiencies.

• Dividend policy remains a priority, supported by low investment needs and a healthy balance sheet.

• Consumer confidence and cargo sales remain key uncertainties for future performance.