Slides
Page 1
Results of 2026 Q2 10.08.2026 PORT OF TALLINN The Port of Good News
Page 2
Results of the Q2 • Revenue increased by 5.4% - influenced by increase in charter days of icebreaker Botnica, in cruise ship visits and sale of electricity services • Operating expenses increased mainly due to higher fuel costs and extraordinary ship repairs necessitated by ice conditions, with the total increase of 1.6 million euros • Q2 results of the last year were positively influenced by one-off profit of 0.9 million euros from the sale of land in Muuga
Page 3
Main events in Q2 • Decrease in volumes • Annual general meeting and distribution of dividends • Adoption of two detail plans by Tallinn City Council • Icebreaker Botnica works in the North Sea • Additional trips of the ferry Regula in summer 2026 • Signing loan agreement with OP bank • 5th rank among the most reputable employers in Estonia
Page 4
Trends in Q2 by business segments • PASSENGERS – decrease in PAX numbers (–1.1%) and PAX vessel calls (–4.4%), increase in revenue (+5.1%) • CARGO – decrease in cargo volumes (–2.3%), in vessel calls (–1.3%), and in revenue (–2.7%) • FERRY – increase in revenue (+3.0%), in number of vehicles (+2.8%), number of passengers (+1.8%) and number of trips (+1.2%) • OTHER segment – charter days and utilisation rate doubled.
Page 5
Passenger volume 1 972 1929 143 136 2 247 2 221 1 427 1 364 0 500 1000 1500 0 500 1000 1500 2000 2500 3000 2025 2026 PAX vessel calls Thousand PAX Q2 2025/2026 –1.1% 7,0 7,2 7,3 3,2 3,2 0,5 0,5 0,6 0,5 0,2 7,9 8,2 8,3 3,7 3,6 5 548 5 585 5 584 2 781 2 647 0 1000 2000 3000 4000 5000 0 1 2 3 4 5 6 7 8 9 10 2023 2024 2025 2025 6M 2026 6M PAX vessel calls Million PAX 2023-2026 Tallinn-Helsinki Tallinn-Stockholm Muuga-Vuosaari Cruise Other PAX vessel calls –2.0%
Page 6
Cargo volume 0,4 0,4 1,7 1,7 0,6 0,6 0,5 0,5 3,5 3,4 373 368 0 200 400 600 800 1000 1200 0 1 2 3 4 2025 2026 Cargo vessel calls Million tonnes Q2 2025/2026 –2.3% 1,7 1,4 2,0 1,0 0,7 6,4 6,6 6,4 3,3 3,3 2,2 2,6 2,7 1,2 1,2 1,9 2,1 2,1 1,0 1 12,6 13,1 13,8 10,2 10,2 1380 1435 1418 724 676 0 200 400 600 800 1000 1200 1400 1600 1800 2000 0 5 10 15 20 25 2023 2024 2025 2025 6M 2026 6M Cargo vessel calls Million tonnes 2023-2026 Liquid bulk Ro-ro Dry bulk Containers General cargo Cargo vessel calls –5.0%
Page 7
2023-2026 2,4 2,5 2,5 1,0 1,11,1 1,2 1,2 0,5 0,5 0,0 0,5 1,0 1,5 2,0 2,5 3,0 2023 2024 2025 2025 6M 2026 6M Million PAX/vehicles Passengers Vehicles Q2 2025/2026 683 693 327 336 0 100 200 300 400 500 600 700 800 2025 2026 Thousand PAX/vechicles Passengers Vehicles Shipping volumes: ferry segment +2.8% +1,8%
Page 8
231 221 179 110 130 63% 60% 49% 61% 72% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0 50 100 150 200 250 2023 2024 2025 2025 6M 2026 6M Charter days 2023-2026 Charter days % utilisation rate 20 40 22% 44% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0 5 10 15 20 25 30 35 40 45 2025 2026 Charter days Q2 2025/2026 Charter days % utilisation rate Shipping volumes: MPSV Botnica
Page 9
Future outlook • Cruise vessel calls and passenger numbers increase • New ro-ro and container lines • Development of new maritime transport corridors • Industrial park campaign (eastern part of the Muuga development area) • Preparation of the real estate business, RE tender and development of Old City Harbour area • Increasing efficiency
Page 10
Results of the Group Q2 and 6 months In thousands Q2 2026 Q2 2025 +/- 6M 2026 6M 2025 +/- Revenue 31 092 29 508 5.4% 59 262 57 862 2.4% Adjusted EBITDA 14 196 15 888 –10.7% 25 769 29 805 –13.5% Adjusted EBITDA margin 45.7% 53.8% –8.1 43.5% 51.5% –8.0 Operating profit 7 883 10 028 –21.4% 13 578 18 286 –25.7% Income tax –5 415 –5 415 0% –5 415 –5 415 0% Profit for the period 1 426 3 475 –59.0% 5 999 10 286 –41.7% Investments 2 270 8 416 –73.0% 3 529 12 020 –70.6%
Page 11
Results by business segments Q2 and 6 months 0,9 9,7 8,2 10,8 1,9 10,0 7,9 11,3 -0,3 4,0 5,7 6,5 0,3 3,4 4,0 6,5 -2 3 8 Other Ferry Cargo H Passenger H Q2 segments (mEUR) Adj. EBITDA 2026 Adj. EBITDA 2025 Revenue 2026 Revenue 2025 4,9 18,3 16,3 18,4 5,9 18,6 15,8 18,9 3,3 7,7 9,1 9,8 3,1 5,9 7,3 9,6 0 5 10 15 20 Other Ferry Cargo H Passenger H 6 months segments (mEUR) Adj. EBITDA 2026 Adj. EBITDA 2025 Revenue 2026 Revenue 2025
Page 12
In thousand euros 6M 2026 6M 2025 +/– Cash from operating activities 18 151 26 293 –8 142 Cash used in investing activities –399 19 999 –20 398 Free cash flow (FCF) 17 752 46 292 –28 540 Cash from/used in financing activities –22 129 –23 407 1 278 NET CASH FLOW –4 377 22 885 –27 262 NET DEBT (at the end of the period) 145 764 143 664 2 100 Cash Flow statement 32 28 9 15 581 573 174 173 67 74 381 368 0 100 200 300 400 500 600 700 31.12.25 31.12.25 30.06.26 30.06.26 EUR million Cash Other current assets Non-current assets Debt Other liabilities Equity Financial position Cash Flow and Financial Position
Page 13
7,6 7,6 10,8 11,3 12,0 9,1 40 19 0 10 20 30 40 50 2025 2026 MEUR Passenger harbours 8,1 7,9 8,2 7,9 8,1 9,1 33 16 0 10 20 30 40 50 2025 2026 MEUR Cargo harbours 28,4 28,2 29,5 31,1 31,7 29,2 119 59 -10 10 30 50 70 90 110 130 150 2025 2026 MEUR Total revenue 8,6 8,6 9,7 10,0 10,7 8,8 38 19 0 10 20 30 40 50 2025 2026 MEUR Ferry Q1 Q2 Q3 Q4 4,0 4,0 8 6 0 10 20 30 40 50 2025 2026 MEUR Other Q1 Q2 Q3 Q4 Revenue generation
Page 14
3,3 3,1 6,5 6,5 7,2 3,9 21 10 0 5 10 15 20 25 2025 2026 MEUR Passenger harbours 3,4 3,3 5,7 4,0 3,9 3,9 17 7 0 5 10 15 20 25 2025 2026 MEUR Cargo harbours 3,6 2,5 4,0 3,4 4,6 3,0 15 6 0 5 10 15 20 25 2025 2026 MEUR Ferry Q1 Q2 Q3 Q4 13,9 11,6 15,9 14,2 15,5 11 57 26 0,0 20,0 40,0 60,0 80,0 2025 2026 MEUR Total adj. EBITDA Q1 Q2 Q3 Q4 3,7 2,7 4 3 -5 0 5 10 15 20 25 2025 2026 MEUR Other Q1 Q2 Q3 Q4 EBITDA generation
Page 15
Q&A session
Page 16
portoftallinn.com • ts.ee/en/investor • portoftallinn Image result for facebook icon white png Thank You! Related image