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

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