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TSM1T - Tallinna Sadam AS News Story

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Market Cap £451.9m
Enterprise Value £611.6m
Revenue £92.7m
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AS Tallinna Sadam operational volumes for 2021 Q1

Fri 9th April, 2021 7:00am
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In 2021 Q1, 5.3 million tonnes of cargo and 373 thousand passengers passed
through the harbours of Tallinna Sadam. Compared to the same period of
previous year, the cargo volume increased by 10% and the number of passengers
decreased by 76%. The number of vessel calls grew by 6% to 1678 calls. The
number of passengers travelling between the Estonian mainland and the main
islands decreased by 11%, but the number of vehicles increased by 2% and the
number of charter days of the icebreaker Botnica stayed at the same level as
in the previous, utility rate of the vessel was 100%.

According to Valdo Kalm, chairman of the management board of Tallinna Sadam,
we can be pleased as the total cargo volume showed strong growth, which was
mainly supported by dry bulk and ro-ro cargo. "The growth of dry bulk was
mainly brought about by the handling of fertilizers and the launch of new
projects of the terminals handling other dry bulk cargo. The volume of ro-ro
cargo increased due to the increase in the number and frequency of liner
vessel calls, primarily on the Muuga-Vuosaari route and due to the growth in
demand of road transport.”

The volume of liquid bulk as the largest cargo type decreased slightly. "A
large part of liquid cargo passes through Russia's own ports, and for the rest
we are in close competition with many other ports," said Kalm. The volume of
container cargo in tonnes decreased slightly, but at the same time the number
of container units affecting the financial result increased, as temporary
disruptions in the global container flow caused by the pandemic dissipated and
empty containers reached Muuga harbour.

The decline in passenger numbers was due to continued restrictions on movement
related to the COVID-19 pandemic and a reduction in people's confidence and
travel due to the instable situation. "In the first 2.5 months of last year,
we had a normal situation in passenger service, we can see a comparison of the
coronavirus era from the second quarter," said Kalm.  

The operational volumes of Tallinna Sadam group for 2021 Q1:

                                            Q1 2021  Q1 2020  Change  Change %  
 Cargo volume by type of cargo (th tonnes)  5 275    4 815    461     9,6%      
 Liquid bulk                                2 068    2 161    -94     -4,3%     
 Ro-ro                                      1 542    1 333    209     15,7%     
 Dry bulk                                   1 102    767      335     43,6%     
 Containers                                 442      457      -14     -3,2%     
 in TEUs                                    52 106   50 509   1 597   3,2%      
 General cargo                              122      97       25      25,7%     
 Non-marine                                 0        0        0       100,0%    
 Number of passengers by routes (th)        373      1 552    -1 179  -76,0%    
 Tallinn-Helsinki                           334      1 394    -1 061  -76,1%    
 Tallinn-Stockholm                          0        136      -136    -100,0%   
 Muuga-Vuosaari                             30       15       15      97,9%     
 Tallinn-St.Petersburg                      0        0        0       -         
 Cruise (traditional)                       0        0        0       -         
 Other                                      10       7        3       42,1%     
 Number of vessel calls by vessel type      1 678    1 585    93      5,9%      
 Cargo vessels                              359      377      -18     -4,8%     
 Passenger vessels (incl. Ro-Pax)           1 319    1 208    111     9,2%      
 Cruise vessels (traditional)               0        0        0       -         
 Ferries* (Saaremaa and Hiiumaa lines)                                          
 Passengers (th)                            269      303      -34     -11,4%    
 Vehicles (th)                              158      155      4       2,3%      
 Icebreaker Botnica                                                             
 Charter days                               90       91       -1      -1,1%     
 Utility rate (%)                           100%     100%     0       -         

*Ferry traffic volumes show the general demand for the service, but do not
directly affect the financial results of the ferry segment, as the fee is
fixed in the service contract regardless of the number of passengers and
vehicles served.

More detailed statistics of passengers by nationality, gender and routes on
monthly basis, can be viewed on the Tallinna Sadam web page:
https://www.ts.ee/en/statistics/. We now also publish quarterly key figures in
xlsx format: https://www.ts.ee/en/investor/key-figures/
Detailed statistics on the number of passengers and vehicles on passenger
ferries: https://www.praamid.ee/wp/statistics/

Tallinna Sadam is one of the largest cargo- and passenger port complexes in
the Baltic Sea region, which serves annually 10 million passengers and 20
million tons of cargo in average. In addition to passenger and freight
services, Tallinna Sadam group also operates in shipping business via its
subsidiaries – OÜ TS Laevad provides ferry services between the Estonian
mainland and the largest islands, and OÜ TS Shipping charters its
multifunctional vessel Botnica for icebreaking and construction services in
Estonia and offshore projects abroad. Tallinna Sadam group is also a
shareholder of an associate AS Green Marine, which provides waste management
services. The group’s sales in 2020 totalled EUR 107.4 million, adjusted
EBITDA EUR 58.4 million and profit EUR 28.5 million.

Additional information:

Marju Zirel
Head of Investor Relations
Tel. +372 5342 6591


*     Tallinna Sadam volumes Q1 2021
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