17 October (BNS)

The Estonian Tallink Grupp shipping line earned 54 million euros net profit in the period from June to August, 27% more than in the same period last year. The Q4 sales proceeds grew 8.7% to 295.9 million euros.

Overall in the past 12 months the sum total of Tallink's revenues was 897.2 million and the net profit 38.4 million euros. The revenues grew 10% and the net profit 76%. The gross revenue of Tallink during the past 12 months grew 11% to 187 million euros and the operating profit before depreciation (EBITDA) grew 9% to 159 million euros.

In twelve months Tallink served a record 9.1 million passengers and carried 287,865 cargo units.

Similar to previous quarters, the biggest influence to expenditures of the group was rise in fuel costs by seven million euros or 22% compared with the previous year. In the calculation of the 12 months of the financial year the expenditures on fuel increased by 28 million euros or 26%.

As of the end of August Tallink had financial means of 95 million euros, nearly 38 million euros more than the year ago. Additonally, it has an overdraft limit of 47 million euros.

Tallink's financial year will last until the end of the calendar year and will be 16 months long as a result. In the future the financial year will coincide with the calendar year.

According to the opinion of Tallink's leadership, improvement of results will continue in the last four months of the financial year but the growth in the number of passengers and sales proceeds would not be as aggressive as in fall 2010.