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Port of Tallinn's H1 operating profit grows to EUR 40.4 mln

The operating profit of the Estonian state owned port company Port of Tallinn in the first six months of 2017 was 40.4 million euros, 7% bigger than in the same period in 2016, informs LETA/BNS.

Freight handled by the ports of Port of Tallinn declined seven% on year to 9.9 million tons while passenger numbers climbed four% to 4.82 million.

Revenues of the group rose primarily as a result of the addition of the operation of ferry services as a new line of business. In freight, the reduction happened as a result of smaller amounts of liquid fuels passing through the ports, whereas the amount of other cargoes grew.

The number of passengers served in international passenger traffic grew by 197,000 year over year to 4.82 million passengers. The biggest increases were registered in passengers on the Tallinn-Helsinki route and cruise passengers.

In passenger traffic between the mainland and Estonia's big western islands, the Port of Tallinn subsidiary TS Laevad carried 941,000 passengers and 408,000 vehicles during the first six months of the year.  

According to tentative figures, revenue of the Port of Tallinn group in January-June grew by 16.4 million euros or 31% on year to 68.6 million euros. The increase in revenue was mainly a result of the addition of the operation of ferry services as a new line of business.

The Port of Tallinn (Tallinna Sadam) group is made up of the parent company of the same name and the companies TS Energia, TS Shipping and TS Laevad.


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