Estonia: Tallink Grupp’s revenue up, profit down in H1/2023

The Estonian shipping group, Tallink Grupp, posted unaudited revenue of EUR 400.9mn in the first half of 2023, which was up 28.4% from EUR 312.2mn in the same period of 2022, GlobeNewswire reports. Six-month EBITDA amounted to EUR 95.6mn (EUR 17.7mn) and net profit to EUR 28.0mn (EUR 40.7mn). In the second quarter of 2023, Tallink’s revenue totalled EUR 229.7mn, which was up 11.5% from EUR 206.0mn a year earlier. Quarterly EBITDA amounted to EUR 68.5mn (EUR 28.7mn) and net profit to EUR 33.4mn (EUR -0.7mn). Tallink carried 2.59mn passengers in the first half of 2023 (up 14.0%) and 1.54mn passengers in the second quarter of 2023 (down 0.7%). The company carried 172,091 cargo units in the first six months of 2023 (down 18.6%) and 85,359 cargo units in the second quarter of 2023 (down 22%).