Tallink: Strong Q3, Challenges Reflected in First Nine Months

AS Tallink Grupp reported a net profit of €40.8 million for the third quarter of 2025. The strong summer season is reflected in the revenue of €233.1 million. Passenger numbers increased by 3% compared to the same period last year, reaching 1.77 million. However, the cumulative results for the first nine months of the year reflect the overall economic situation, the lay-ups of vessels at the beginning of the year, and the maintenance days.

“The third quarter was strong for us – the summer months brought the expected growth in passenger numbers and profitability,” said Paavo Nõgene, CEO of Tallink Grupp. “At the same time, we cannot ignore the fact that the full-year results highlight the complexity of the economic environment and the impact of ongoing geopolitical tensions on the sector,” he added.

During the first nine months of the year, the group generated €577.3 million in revenue, a decrease of 4.2% compared to the same period in 2024. Net profit fell to €5.1 million, down from €45.5 million a year earlier. EBITDA amounted to €102.5 million, €47 million less than last year. The company made loan and related interest payments totaling €96.2 million.

“The period as a whole was overshadowed by low consumer and business confidence in our home markets and continued geopolitical tensions. Two of our cruise ships, Baltic Princess and Silja Serenade, underwent maintenance for 68 days last winter. This significantly affected both passenger and cargo volumes, especially on the Finland–Sweden routes. Results were also impacted by up to four idle vessels, which have now found new owners or been redeployed elsewhere in the world,” Nõgene added.

Tallink Grupp continues to adapt its operations to market conditions. The company is actively seeking new opportunities to keep its vessels in operation and to implement innovative solutions to improve financial performance and reduce environmental impact.

“As we plan for the new year, our focus remains on cost control, maintaining profitability on core routes, and mitigating low-season risks. We feel a strong responsibility toward our shareholders and are committed to maintaining stability, reliability, and being a solid dividend stock for investors in these volatile times,” Nõgene affirmed.