In Q2 2025, Tallink Grupp transported a total of 1,488,128 passengers, an increase of 2.5 percent compared to the same period last year. Despite a positive trend in passenger traffic, the group reported a loss of 2.5 million euros for the quarter, partly due to tax expenses related to dividends.
In the second quarter, the number of passenger vehicles transported increased by 1.4 percent to 212,782 units, while the number of freight units transported decreased by 22.8 percent to 67,038 units.
– Tourism is a seasonal industry, and the increase in passenger numbers shows that people have regained both the confidence and the opportunity to travel. At the same time, challenges remain in the freight segment, says Paavo Nõgene, CEO of Tallink Grupp.
The group's consolidated revenue for the quarter amounted to EUR 207 million and EBITDA to EUR 37.4 million.
The result has been affected by several vessels being out of operation. However, it is pleasing that the number of inactive vessels has decreased from four to two. The sale of Star I and the charter agreement for Romantika contribute to more efficient resource utilisation, lower operating costs, and strengthened revenue. The quarterly result is also affected by a tax cost of 11 million euros related to dividend distribution. Despite the challenges, June showed a slightly better result than the same month last year, Nõgene continues.
For the first half of 2025, the group transported a total of 2.5 million passengers, representing a decrease of 3.8 percent compared to the corresponding period in 2024. Revenue amounted to EUR 344.2 million, a decrease of 7.1 percent. EBITDA amounted to EUR 33.6 million, compared to EUR 81.1 million in the previous year. The result for the half-year was a loss of EUR 35.7 million, compared to a profit of EUR 8.7 million during the same period in 2024.
The first half of the year has been challenging in many ways, and has been characterised by reduced demand in both the passenger and freight segments. At the same time, investments in ship renovations and the streamlining of core operations are creating the conditions for future profitability, says Nõgene.
Maintenance work was carried out on Baltic Princess and Silja Serenade at the beginning of the year, meaning the ships were out of service for a total of 68 days. Investments of €22 million have been made to extend the ships' lifespan and improve the passenger experience. The result was further weakened by tax costs related to dividends, as well as loan repayments and interest costs.
– Tallink Grupp continues to actively reduce its debt burden and invest in its fleet. Our goal is to maintain optimal vessel capacity on our key routes, find uses for vessels temporarily without operations, while simultaneously maintaining our position as a strong dividend stock for our shareholders, Nõgene concludes.
According to the press release.
