Tallink ferry operator cuts H1 loss by a third

• Published date: 28 July 2022
• Publication title: LETA

TALLINN, July 28 (LETA--BNS) - The group of Estonian ferry operator Tallink closed the first half of this year with an unaudited net loss of EUR 40.66 million, which shrank by 30.1 percent from the same period a year ago, when the shipping group's loss was EUR 58.758 million, according to the company's financial statements.

In January-June 2022, Tallink Grupp carried 2.3 million ferry passengers, which is an increase of 227 percent against the first half of last year, while revenue grew 123.2 percent to EUR 312.2 million.

Unaudited EBITDA for the six months totaled EUR 17.7 million, compared with EUR 1.9 million in the first six months of 2021.

In the first half of 2022, Tallink's operations were affected mainly the suspension of ferry operations due to Covid-19 restrictions, as well as a steady increase in demand for travel following after the end of the restrictions. Repairs and maintenance of several vessels, as well as the war in Ukraine and steep rise in fuel prices also impacted the shipper's operations.

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