ESTONIA. Tallink Group today reported a -2.9% fall in shopping and restaurant revenues for the first six months of 2018, compared to the same period in 2017, with the figure reaching €246 million. Commercial revenues in Q2 dipped by -3.2% to €141 million.

The company said that competition on routes between Estonia and Finland had had an impact on its business, as did the removal from service (for repairs) of the Baltic Princess for 68 days.

How the Tallink Group shopping and restaurant segment performed in the half (above) and second quarter (below); click to enlarge.

The group, which operates Tallink and Silja Line ferries, transported 4.6 million passengers in the half, up by +0.8% versus the same period last year. There was notable growth of +11.4% on the Latvia-Sweden route, a +3.3% increase on the Estonia-Sweden route and +1.8% on the dominant Estonia-Finland route, which was most affected by price competition for tickets.

Overall revenue decreased by -2.6% in the first six months to €439.6 million. The net loss in the first half amounted to €4.3 million against €2.4 million in the same period in 2017).

*Tallink is ranked 23rd among the world’s travel retailers measured by 2017 sales, according to the latest figures from Moodie Davitt Research. Click here for our full Top 25 report and commentary.