ESTONIA. Tallink Group today reported full-year results for 2017, with revenues from shops and restaurants climbing by +2.9% year-on-year to €536.7 million. Total revenues hit a record €967 million (+3.1%), with net profit at €49 million (+11.8%). The company had a record 9.8 million passengers in the year.
Tallink Group said: “The main drivers for the increased turnover in 2017 were positive developments on several routes and in a number of segments. The launch of the newest vessel, Megastar, on the Tallinn-Helsinki route early in the year increased the capacity of this route and improved efficiency.
“Growth on the Riga-Stockholm route was achieved through the addition of a second vessel on the route in December 2016 and the Tallinn-Stockholm route also saw some positive developments with more than a million passengers transported on the route for the first time ever.”
AS Tallink Group CEO Janek Stalmeister said: “2017 was a record year for Tallink in terms of passenger numbers and several other indicators. I am pleased that our big investment Megastar has been very successful and played an important role in increased profits, despite increasingly tight competition. Our cargo business also saw considerable growth on all our routes last year, the positive impact of which on the year-end financial results cannot be underestimated.“
The company owns 14 vessels and operates under the brands of Tallink and Silja Line on six routes.
