Unaudited half-year revenue amounted to €344.2m, a 7.1% decline year-on-year. EBITDA fell to €33.6m, compared to €81.1m during the same period last year.

AS Tallink Grupp transported a total of 1,488,128 passengers in the second quarter of 2025, marking a 2.5% increase compared to the same period last year, however the period ended with a loss of €2.5 million ($2.89m), which it said was influenced in part by dividend income tax.

Consolidated unaudited revenue for the quarter reached €207m.

Additionally, the company posted a net loss of €35.7m for the first half, contrasting with a net profit of €8.7m a year earlier.

“Tourism is a seasonal sector. The growth in passenger numbers during the second quarter reflects renewed trust and the recovery of people’s ability to travel. However, freight transportation remains more challenging,” said Paavo Nõgene, CEO of Tallink Grupp.

Nõgene continued: “Nevertheless, June’s result was somewhat better than last year’s. One reason for the losses has been idle vessels, although their number has decreased from four to two.

The sale of Star I and the chartering of Romantika help optimise asset utilisation, reduce running costs, and generate additional revenue. This is a positive development. The second-quarter result also includes a dividend income tax expense of €11 million.”

In terms of both on-board and onshore retail, Tallink Grupp was buoyed slightly by a 0.3% increase in revenue, with Q2 sales accounting for €102m, nearly half its sales revenue (€207m) in that quarter.

“The first half of the year has been challenging in many respects. Both passenger and freight volumes have declined due to clearly weakened demand,” Nõgene noted. “However, investments in vessel refurbishment and core business optimisation are laying the groundwork for potential profitability in future periods.”

“Tallink continues to actively reduce its debt load and invest in its fleet. We aim to maintain an optimal number of vessels on main routes, find utilisation options for idle ships, and remain a strong dividend stock for our shareholders,” Nõgene concluded.

READ MORE: Baltic Princess marks the start of a new reign at sea

READ MORE: Tallink Silja Line’s renewed Baltic Princess returns to service

READ MORE: Tallink Grupp sees ‘satisfactory’ 2024 against tough economic environment