“2025 was full of challenges, ranging from the generally unfavorable economic climate in the region to weak consumer confidence. Our results are particularly affected by the situation in our largest market, Finland. Taking all these factors into account, the outcome for 2025 was satisfactory with reservations,” commented Paavo Nõgene, CEO of AS Tallink Grupp. “Internal decisions helped us adapt flexibly to the situation. The sale of three vessels has optimized our cost base, some ships have been chartered out, and we have remained a reliable dividend stock for investors,” Nõgene added.

Across all routes, Tallink carried a total of 5,531,132 passengers in 2025, which is 0.9% fewer than in 2024. Compared to 2024, passenger numbers increased by 1.8% on the Finland–Estonia route, but decreased by 2.4% on the Finland–Sweden routes. On the Estonia–Sweden routes, passenger numbers declined by 12.5%; the decrease is due to the fact that two vessels operated on the route during the summer of 2024.

The total number of cargo units was 245,004, a decrease of 19.2% compared to the previous year. Cargo volumes declined across all company routes in 2025, most notably on the Finland–Sweden routes, 22.8%, and the Estonia–Finland route, 20%. On the Estonia–Sweden route, the decrease was 11.5%.

“In terms of cargo transport, it should be noted that the decline has gradually eased compared to the early months of 2025. This may be a sign of recovery in our home markets,” Nõgene remarked.

For 2026, Tallink has set the goal of maintaining its market position and increasing revenues.

“Enhancing the sustainability of all routes and improving the company’s profitability is an ambitious task, but we are ready for it. Although some economic recovery is expected, the lack of state support for the shipping sector in Estonia makes the situation more difficult compared to neighboring countries. We also need to account for the full volume of CO2 quotas, which we are required to purchase starting this year. On the other hand, our shuttle vessels are expected to fully transition to biomethane fuel, which is environmentally friendly and helps reduce emission costs,” said Nõgene. “Social partnerships reflect our responsibility to give back to society, and supporting culture and sports also helps attract additional tourists to Estonia, benefiting society as a whole,” he added.

Several vessels are scheduled for maintenance during the year, bringing technical upgrades and improved efficiency. In January, the maintenance began for the Finland–Sweden route cruise ferry SILJA SYMPHONY, which celebrates its festive 35th anniversary this year.