TAL1T EE3100004466

Report

Delayed Nasdaq Tallinn - 08:59:48 2023-01-27 am EST
0.5380	EUR		0.00%

01/17	As Tallink Grupp : Tallink Grupp's vessels Silja Serenade and Silja Symphony head to Naantali, Finland for regular dry-docking	PU
01/03	As Tallink Grupp : Tallink Grupp's 2022 annual passenger figure bounces back after COVID years and nearly doubles compared to 2021	PU
01/03	Tallink's Passenger Traffic Climbs 29% in December 2022; Cargo Numbers Fall 7%	MT

Financials

Valuation

Fiscal Period: December	2016	2017	2018	2019	2020	2021
Capitalization¹	612	837	680	654	494	439
Enterprise Value (EV)¹	1 101	1 314	1 109	1 193	1 172	1 091
P/E ratio	13,9x	18,0x	17,0x	13,2x	-4,56x	-7,24x
Yield	3,29%	2,40%	4,93%	-	-	-
Capitalization / Revenue	0,65x	0,87x	0,72x	0,69x	1,12x	0,92x
EV / Revenue	1,17x	1,36x	1,17x	1,26x	2,65x	2,29x
EV / EBITDA	7,37x	8,21x	7,77x	7,65x	-26,1x	39,9x
Enterprise Value (EV) / FCF	32,4x	-14,7x	20,6x	16,1x	-11,0x	34,1x
FCF Yield	3,09%	-6,80%	4,84%	6,23%	-9,05%	2,94%
Price to Book	0,75x	1,00x	0,79x	0,79x	0,69x	0,63x
Nbr of stocks (in thousands)	669 882	669 882	669 591	669 882	669 882	743 569
Reference price (EUR)	0,91	1,25	1,02	0,98	0,74	0,59
Announcement Date	04/26/2017	04/24/2018	04/25/2019	04/20/2020	04/29/2021	04/05/2022
¹ EUR in Million

Income Statement Evolution (Annual data)

Fiscal Period: December	2016	2017	2018	2019	2020	2021
Net sales¹	938	967	950	949	443	477
EBITDA¹	149	160	143	156	-44,9	27,4
Operating profit (EBIT)¹	71,5	73,7	63,4	74,8	-129	-50,7
Operating Margin	7,63%	7,62%	6,68%	7,88%	-29,2%	-10,6%
Pre-Tax Profit (EBT)¹	44,8	50,7	44,6	57,2	-111	-59,0
Net income¹	44,1	46,5	40,0	49,7	-108	-56,6
Net margin	4,70%	4,81%	4,22%	5,24%	-24,5%	-11,9%
EPS²	0,07	0,07	0,06	0,07	-0,16	-0,08
Free Cash Flow¹	34,0	-89,3	53,7	74,3	-106	32,0
FCF margin	3,63%	-9,24%	5,65%	7,83%	-23,9%	6,72%
FCF Conversion	22,8%	-55,8%	37,6%	47,6%	236%	117%
Dividend per Share²	0,03	0,03	0,05	-	-	-
Announcement Date	04/26/2017	04/24/2018	04/25/2019	04/20/2020	04/29/2021	04/05/2022
¹ EUR in Million ² EUR

Income Statement Evolution (Quarterly data)

Fiscal Period: December

2021 Q2

2021 Q3

2021 Q4

2022 Q2

2022 Q3

2022 Q4

Net sales¹

86,1

170

167

206

256

200

EBITDA

4,40

35,1

25,1

28,7

67,7

Operating profit (EBIT)

-19,4

11,5

0,88

Operating Margin

-22,5%

6,72%

0,53%

Pre-Tax Profit (EBT)

-24,5

5,30

-5,10

Net income

-24,3

5,52

-3,34

Net margin

-28,3%

3,24%

-2,00%

EPS

-0,04

0,01

0,00

Dividend per Share

Announcement Date

07/29/2021

10/28/2021

02/22/2022

07/28/2022

10/27/2022

¹ EUR in Million

Previous period

Next period

Estimates

Balance Sheet Analysis

Fiscal Period: December	2016	2017	2018	2019	2020	2021
Net Debt¹	489	477	429	539	677	652
Net Cash position¹	-	-	-	-	-	-
Leverage (Debt / EBITDA)	3,28x	2,98x	3,01x	3,46x	-15,1x	23,8x
Free Cash Flow¹	34,0	-89,3	53,7	74,3	-106	32,0
ROE (Net Profit / Equities)	5,39%	5,65%	4,73%	5,92%	-14,1%	-8,04%
Shareholders' equity¹	819	823	847	840	769	703
ROA (Net Profit / Asset)	2,90%	2,97%	2,59%	3,08%	-5,29%	-2,04%
Assets¹	1 518	1 564	1 546	1 614	2 046	2 769
Book Value Per Share²	1,21	1,25	1,28	1,23	1,07	0,93
Cash Flow per Share²	0,12	0,13	0,12	0,06	0,04	0,17
Capex¹	68,6	219	36,0	60,9	100	20,2
Capex / Sales	7,32%	22,7%	3,79%	6,42%	22,6%	4,23%
Announcement Date	04/26/2017	04/24/2018	04/25/2019	04/20/2020	04/29/2021	04/05/2022
¹ EUR in Million ² EUR

Key data

Capitalization (EUR)	400 040 156
Capitalization (USD)	434 259 831
Net sales (EUR)	476 937 000
Net sales (USD)	517 734 477
Number of employees	4 916
Sales / Employee (EUR)	97 017
Sales / Employee (USD)	105 316
Free-Float	40,0%
Free-Float capitalization (EUR)	159 856 046
Free-Float capitalization (USD)	173 530 228
Avg. Exchange 20 sessions (EUR)	79 447
Avg. Exchange 20 sessions (USD)	86 243
Average Daily Capital Traded	0,02%

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

AS TALLINK GRUPP