Port of Tallinn forecasts 41 mln euros of profit in 2015

Estonian state-owned port operator AS Tallinna Sadam (Port of Tallinn) Council approved the company's 2015 budget, according to which the expected operating income will be 111 million and net profit of 41.3 million euros, LETA/Public Broadcasting reports.

The volume of cargo to be handled the next year is, according to the forecast, 27.9 million tonnes and expected passenger number 9.66 million.

As compared to the year 2014, the projected passenger number grows by 1% and cargo volume falls by 1%.

Tallinna Sadam expects to pay in 2015 to the owner, the Estonian state, a dividend of 31.2 million euros, plus income tax expense of EUR 7.8 million.

Next year's budgeted operating income is EUR 111 million, by EUR 0.1 million more than this year.

Next year's biggest investment is financing the construction of four ferries, with which Tallinna Sadam will start operating island ferry traffic in the autumn of 2016.

(Baltic Course, http://www.baltic-course.com/eng/good_for_business/?doc=100344)

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