AS Tallinna Sadam (TSM1T) Earnings Call Transcripts

AS Tallinna Sadam's Latest Earnings Call - Q1 FY2026

In Q1 2026, AS Tallinna Sadam reported revenue of EUR 28.2 million, a slight decline of less than 1% year-over-year, primarily due to decreased vessel calls and adverse winter conditions. Adjusted EBITDA fell by 17% to EUR 11.6 million, impacted by higher energy costs and a lack of one-off insurance payments seen in the previous year. Management maintained a cautious outlook, signaling potential growth in passenger volumes and cargo through new agreements and improved operational efficiencies, while also highlighting ongoing negotiations for new shipping lines and increased utilization of the multifunctional quay in Paldiski.

Reported metrics

Guidance from management

Management anticipates a slight increase in passenger numbers and cargo volumes, particularly in the ro-ro segment, but did not raise guidance for the year. They are focused on negotiating new shipping lines and optimizing the use of the new quay in Paldiski.

What management said

Next question regarding the drop in lease income. We can explain it to the fact that the drop was caused mainly because of the fact that we got back the land -- the same land from the Muuga AgroProduction where we arranged a new competition or tender. And last year, we recorded this income in revenues and immediately estimated it like uncollectible. So there wasn't any impact on EBITDA level. But this year, we got ...

Are there any new developments regarding Kazakh grain? Yes, there was one important event. The big delegation -- high-level delegation visited Muuga Harbour. There was also president of the company, it's the state-owned company from Kazakh with whom we signed the agreement and they studied the possibilities of our grain terminal and the port, and I would say it went very successfully, but no cargo yet.

What analysts pressed on

Analysts expressed concerns regarding the impact of rising fuel and electricity costs on future profitability. There were also questions about the effectiveness of ongoing negotiations for new shipping lines and the potential for cargo volume recovery in the coming quarters.

Main topics on the call

• Revenue Stability — Revenue remained stable at EUR 28.2 million, reflecting a decrease of less than 1%. Management noted, "The decrease came mainly from the vessel dues because we had less vessel calls," indicating challenges in the cargo s...
• EBITDA Decline — Adjusted EBITDA decreased by 17% to EUR 11.6 million, attributed to higher fuel and electricity costs. CFO Andrus Ait stated, "Price conditions caused higher fuel consumption and also the fuel price went up," which negat...
• Cruise Season Outlook — Management expressed optimism about the cruise season, forecasting a 20% increase in both the number of ships and passengers. Valdo Kalm noted, "Overall prognosis for cruise season is very good," which could support futu...
• Investment in Infrastructure — The completion of the multifunctional quay in Paldiski South Harbour is expected to enhance operational capacity. Management highlighted, "We received first ship calls... carrying elements of wind farms," indicating dive...

Read the full AS Tallinna Sadam transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 AS Tallinna Sadam earnings call transcripts on record, spanning February 28, 2020 to August 10, 2026. Based on this history, AS Tallinna Sadam reports quarterly. The most recent call on file is dated August 10, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

TSM1T

Exchange

TLSE

Country

EE

Sector

Industrials

Industry

Transportation Infrastructure

Calls on record

25

First call

February 28, 2020

Most recent

August 10, 2026

Reporting cadence

quarterly