Tallink Group reveals retail and F&B revenue rise in 2017
By Andrew Pentol |
Baltic ferry and cruise operator Tallink Group has revealed revenue from shops and restaurants of €536.7m ($661.5m) in 2017 up from €521.5m ($642.8m) in 2016.
Total revenue amounted to €967m ($1.19bn) from €938m ($1.16bn) in 2016.
In the 2017 financial year (1 January to 31 December), Tallink Group and its subsidiaries carried a record 9.8m passengers, an increase of 3.2% from 2016.
Tallink, which recently acquired the right to operate international fashion brand Esprit’s franchise stores in Estonia commented: “The main drivers for the increased turnover in 2017 were positive developments on several of the group’s routes and in a number of the group’s segments during the year.
“The launch of the group’s newest vessel, Megastar, on the Tallinn-Helsinki route early in the year increased the capacity of this route and improved the efficiency.”
Group investments reached €219.2m ($270.2m) last year.
The largest investment was the purchase of the Shuttle ferry Megastar in January 2017.
A number of investments were also made to upgrade restaurants, shops and cabins on its various other vessels.
Tallink Group CEO Janek Stalmeister said: “2017 was a record year for Tallink in terms of passenger numbers and several other indicators. I am pleased that our big investment Megastar has been very successful and played an important role in the group’s increased profits, despite increasingly tight competition.”
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