Estonian shipping company AS Tallink Grupp reported a 2.3% increase in passengers transported in September 2023, reaching a total of 401,520 passengers compared to the same month the previous year. This growth is aligned with the InvestingPro Tip that Tallink has seen a high return over the last year. The company's market cap, as per InvestingPro Data, stands at a robust $545.88 million, indicating a healthy financial position. However, the number of cargo units fell by 24.4% to 25,823 units, while passenger vehicles remained steady at 61,602 units.
In contrast, the third quarter of 2023 (July-September) saw a decrease in passenger numbers by 6.2%, with the company transporting 1,775,821 passengers. This decline was primarily attributed to the chartering of vessels including Silja Europa and Galaxy I (formerly Galaxy), which had transported approximately 200,000 passengers in Q3 of 2022. Cargo units also saw a decrease of 26.1% to 75,701 units during this period, and passenger vehicles decreased by 1.5% to 273,514 units. Despite this, Tallink's revenue growth in LTM2023.Q2 was a notable 32.47%, according to InvestingPro Data.
The Finland-Sweden route results for Q3 reflect the operation of the Helsinki-Stockholm and Turku-Kapellskär/Turku-Stockholm routes. The cruise ferry Galaxy I, which had been operating on the Turku-Stockholm route, stopped operations in September 2022 due to a charter agreement. It's worth noting here that Tallink's stock generally trades with low price volatility, as per InvestingPro Tips, which may be indicative of the company's stable operations.
For the Estonia-Finland route, Q3 results were influenced by the operations of shuttle services MyStar and Megastar. The cruise ferry Silja Europa ceased operations on the Tallinn-Helsinki route in August 2022 because of a charter agreement. Interestingly, Tallink's P/E Ratio is at an attractive 6.04, suggesting the company is trading at a low earnings multiple as highlighted by InvestingPro Tips.
The Estonia-Sweden route's Q3 results reflect operations of the Tallinn-Stockholm and Paldiski-Kapellskär routes with one cruise ferry and two cargo vessels. Notably, the cruise ferry Baltic Queen didn't operate for 12 days due to planned dry docking from September 3-15, 2023.
The InvestingPro Fair Value of AS Tallink Grupp's stock is estimated at $0.82, indicating potential for growth. For more insights like these, readers can explore additional tips at InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.