Tallinna Sadam Reports Strong Financial Growth and Dividends
Tallinna Sadam's Impressive Financial Performance for 2024
The supervisory board of AS Tallinna Sadam, one of the leading port operators in the Baltic Sea region, has approved the audited annual report for 2024. This report is based on the comprehensive overview provided by the management board, with no discrepancies found in the final audited financial results compared to the unaudited interim report released earlier.
Revenue and Profit Highlights
In the fiscal year of 2024, the Tallinna Sadam group reported an annual revenue of EUR 119.6 million, reflecting a modest growth of 2.5%. A noteworthy aspect is the adjusted EBITDA, which rose to EUR 53.1 million, marking an 8% increase compared to the previous year. The group's profit also saw a significant jump, climbing 21% to reach EUR 19.2 million. Furthermore, the company made substantial investments totaling EUR 38.8 million, an impressive rise of 87%.
Dividend Proposal for 2025
In alignment with its dividend policy, the management board has proposed to pay a dividend of EUR 0.073 per share for the year 2025. This proposal, which totals around EUR 19.199 million, is subject to shareholder approval during the upcoming general meeting. The intention to maintain a stable dividend payout of at least 70% of the profit signifies the management's commitment to rewarding shareholders.
Ex-Dividend Date and Payment Details
According to the draft resolution set for the general meeting, the cutoff date for shareholders eligible to receive dividends will be established as of 9 May 2025. Consequently, the rights associated with the shares will change on 8 May 2025, marking the ex-dividend date. Shareholders purchasing shares after this date will not be entitled to dividends for the financial year of 2024. Payments will commence on 16 May 2025, enabling eligible shareholders to receive their distribution promptly.
Operational Success in 2024
Reflecting on the results, Valdo Kalm, the Chairman of the Board of Tallinna Sadam, expressed satisfaction with the company's achievements in 2024. The growth in both passenger and cargo segments was complemented by record-breaking volumes of passenger ferries. The year also saw the constant utilization of the multifunctional icebreaker Botnica, which underscores the diversified demands in shipping services. This success, combined with strong cash flow, has positioned Tallinna Sadam to sustain dividend payouts akin to those of the previous year.
Looking to the Future: Growth Projects
As Tallinna Sadam continues to navigate through various success stories and milestones, the company is already laying groundwork for future growth projects. The management emphasized the importance of ongoing operations optimization, which is crucial for sustaining competitive advantages in the sector. The organization extends gratitude to its employees, partners, and shareholders for their invaluable contributions towards achieving these remarkable results.
Overview of Tallinna Sadam Group
Tallinna Sadam operates one of the largest cargo and passenger port complexes in the Baltic Sea, providing essential services across passenger and freight transport. Additionally, through its subsidiaries, Tallinna Sadam has diversified its operations in the shipping sector. For instance, OÜ TS Laevad operates ferry services connecting the Estonian mainland with its major islands, while OÜ TS Shipping manages the icebreaker Botnica for various offshore and icebreaking tasks.
Contact Information
If you require more information or have queries regarding the financial report or other matters, please contact:
Andrus Ait
Chief Financial Officer
Tel: +372 526 0735
Frequently Asked Questions
What financial results did Tallinna Sadam report for 2024?
Tallinna Sadam reported an annual revenue of EUR 119.6 million, an adjusted EBITDA of EUR 53.1 million, and a profit of EUR 19.2 million for 2024.
What is the proposed dividend payout for shareholders?
The management board proposes a dividend of EUR 0.073 per share for the year 2025, amounting to approximately EUR 19.199 million.
When is the ex-dividend date set?
The ex-dividend date is scheduled for 8 May 2025, after which new shareholders will not be entitled to the 2024 dividends.
What growth initiatives are planned for the future?
Tallinna Sadam is preparing new growth projects and optimizing operations to maintain its competitive edge in the market.
How can shareholders get more information?
Shareholders can reach out to the Chief Financial Officer, Andrus Ait, at +372 526 0735 for additional queries and information.
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