Tallinna Sadam AS (OTCPK:TSMTF)

$ 1.50931 0 (0%) Market Cap: 312.43 Mil Enterprise Value: 473.75 Mil PE Ratio: 15.06 PB Ratio: 0.74 GF Score: 66/100

Q3 2022 Tallinna Sadam AS Earnings Call Transcript

Nov 10, 2022 / 09:00AM GMT

Release Date Price: $1.51

Transcript

Valdo Kalm

Tallinna Sadam AS - Chairman of the Management Board and CEO

Good morning, ladies and gentlemen, dear investors. Welcome to our webinar. My name is Valdo Kalm, I am the CEO of Port of Tallinn. And Andrus Ait is our CFO.

As usually, we will start with main events from last quarter. And I would like to start with the continuous growth and, let's say, rapid recovery of passenger business. I will come back to the numbers later, but Q3 was quite successful. And also, nine-month recoveries is better than we prognosed.

Then we closed operations finally in Paljassaare harbor. Before, we sold out our quays; after that, the infrastructure; now in Q3, we also stopped the administration of the port. Therefore, Paljassaare is totally closed. Just for -- to remind you that it wasn't possible to do business there as cargo; therefore, I guess, it was very reasonable to sell the assets and close the costs.

Also important for us -- for the port is that the Competition Authority terminated supervision proceeding regarding the penalties of Worldwide Cargo Establishment. And before

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