Tallink Grupp today released its unaudited financial results for the first quarter of 2025 (1.1.-31.3.2025), reporting a net loss of 33.2 million euros.
– The first quarter was undeniably challenging for the company. Consumer and business confidence remains at a low level, and the economic situation in our home markets, along with ongoing geopolitical tensions worldwide, creates uncertainty in the operating environment. Additionally, the extended dry-docking periods early in the year and the absence of four vessels from operations significantly impacted our results, says Paavo Nõgene, CEO of Tallink Grupp.
– On the other hand, if the impact of non-operating vessels is excluded, our results are in line with the first quarter of 2019. We are continuously working to resolve the situation with idle vessels, and for example, our ship Star I has now been sold and handed over to its new owner, Nõgene adds.
The Group’s revenue in the first quarter was 137.3 million euros. The operating result before interest, taxes, and depreciation (EBITDA) was -3.8 million euros, and the net loss was 33.2 million euros. Investments totaled 13.3 million euros, with the majority allocated to planned refurbishment works for the Baltic Princess and Silja Serenade. The 68-day maintenance period affected both passenger and cargo volumes on routes between Finland and Sweden. Loan repayments and related interest expenses during the early part of the year amounted to 20.8 million euros.
– The first-quarter dry-dockings can also be seen as investments in technology and customer experience. A clear improvement is already visible on the route between Finland and Sweden; feedback on the refurbished Baltic Princess has been very positive. Special cruises are planned on all our routes. We are actively working at all levels to ensure that the upcoming high season, spring and summer, meets our expectations, Nõgene states.
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