The Baltic ferry and mini-cruise group, Tallink, enjoyed a more than doubling of net profit in 2015 helped substantially by a €20M reduction in bunker costs compared to 2014
These stellar results have been attributed to reduced operating costs as well as a growth in passenger income and higher charter revenues.
The average fuel price for the Group’s average was 5% lower in 2015 compared to 2014.
Whilst there had been concern that the adoption of the European Emission Control Area on 1 January 2015 would cause a soar in bunker prices, Tallink commented “The previously highlighted risk of increasing fuel cost did not materialise”
Added to this, the Group has managed to make a 13% reduction in total annual fuel consumption.
Put together this resulted in a €20 million reduction in fuel costs as compared to the previous year.
Tallink 2015 The Numbers:
9.0 million passengers carried- 1.1% more compared to the year before.
The Group’s revenue increased by 2.6% to EUR 945.2 million
Net profit of EUR 59.1 million- more than doubled compared to 2014
Cash flow from operating activities increased by EUR 41.2 million to EUR 191.9 million.
