The Group’s investments in 2024 amounted to €22.4 million, with the majority allocated to ship maintenance and repairs, including technical upgrades and passenger area renovations, as well as investments in IT development.

AS Tallink Grupp has published its unaudited financial results for the 2024 financial year, revealing nearly 5.6 million passengers travelled on Tallink’s vessels during the year, with total revenue for 2024 amounting to €786 million and net profit reaching €40.3 million. 

Paavo Nõgene, CEO of AS Tallink Grupp, commented: “The past few years have been challenging for the tourism and transport sector, and 2024 was no exception. We focused primarily on cost control, the successful operation of our main routes, and flexible opportunities to generate additional revenue. Considering the difficult economic environment across all our home markets, and the lowest consumer confidence levels in a decade, last year’s results were still satisfactory.

We sincerely thank all our passengers and business partners, whose support has enabled us to provide jobs for nearly 5,000 people and contribute to the Estonian state budget through taxes. We are also pleased to once again offer dividends to our shareholders, at €0.06 per share, as decided by the Group’s Management and Supervisory Boards,” commented.

Loan and interest payments totalled €116 million and as of the end of the financial year, the Group operated 14 vessels.

Three vessels were chartered out during the year, while two ships remained awaiting deployment decisions. The number of transported cargo units exceeded 303,000, and passenger vehicles transported totaled 777,000.

“Ships must sail, not remain idle—long-term docked vessels only generate costs for the company. A volatile economic environment challenges us to be more flexible and implement new business models. This year, we will closely monitor the performance of our main routes and seek chartering opportunities for vessels not currently in use on these routes. In this context, we are pleased that the Tallinn-Helsinki route has seen strong recovery following the crisis years. We are also optimistic about growth on the Paldiski-Kapellskär route, where the return of the Star I ferry has significantly improved the travel experience for car passengers. Additionally, we remain hopeful that the number of Swedish travelers on the Baltic Sea will start increasing again,” added Nõgene.

The total number of passengers in 2024 reached 5.6 million, with Finnish passengers accounting for nearly half. Approximately a quarter of the passengers traveled from Estonia, while Swedish travelers made up less than ten percent which is even fewer than those from other European countries.

Revenue from the Group’s most successful segment, the Estonia-Finland routes, increased by nearly €15 million compared to the previous financial year, reaching almost €313 million. The segment’s overall result also improved to €81 million.”From a sustainable business perspective, it is important to highlight that we have significantly reduced our debt burden. The repayment of €87 million in loans in 2024 is a remarkable achievement that supports stability in our core operations. Our primary goal as a Management Board remains clear—to maintain our position as a stable, dividend-paying listed company,” Nõgene concluded.

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