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

Q4 2022 Tallinna Sadam AS Earnings Call Transcript

Feb 28, 2023 / 12:00PM GMT

Release Date Price: $1.51

Transcript

Valdo Kalm

Tallinna Sadam AS - Chairman of the Management Board & CEO

Good afternoon, dear investors. My name is Valdo Kalm, I'm in charge of the group of Port of Tallinn, and Andrus Ait, our CFO. And we would like to present results from Q4 but also yearly based results. And I would like to start with main event from last year.

Although we had quite a tough year, we managed to increase the revenue and EBITDA level, and that's very much because of growth of passenger volumes. The volumes doubled and reached 7 million, and we had quite a good trend or doubling from Helsinki route, from Stockholm route, and also from cruise.

The increase of passenger volumes helped us a lot to compensate the decrease of cargo business due to the sanctions to Russia and Belarus. Here we had a decrease of revenues of around 20%, but I will come back to that.

Then in the beginning of summer, our supervisory board made a decision to invest to Paldiski harbour wind-farm quay. That's important decision; that's decision for the future growth. And we see really that we entering to the new business

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