Aktsiaselts Infortar Unaudited Consolidated Interim Report for third quarter of 2025

Aktsiaselts Infortar (Infortar) will organize a webinar for introducing third quarter 2025 results today. Please join the webinar via the following links:

3. November at 12.00 (EET) 

3. November at 14.00 (EET) 

Infortar’s sales volume grew by one-third in the third quarter, reaching 468 million euros, EBITDA amounted to 105 million euros, and net profit to 72 million euros. Over the first nine months, the Group’s revenue increased to 1.4 billion euros, and total investments reached 96 million euros.

“We delivered a strong quarterly result, with all business segments contributing more significantly than a year ago. The considerable growth in sales volumes has had a positive impact on profitability, higher revenues have translated into increased profit. Tallink has successfully adapted to the regional economic challenges and market environment, increasing passenger numbers. Following a mild winter, Elenger expanded its market share in Finland and the Baltic region to a record 30% over the summer months. In the real estate and construction segment, we continue work on several large infrastructure projects, including the construction of the main line of Rail Baltica,” said Ain Hanschmidt, Chairman of the Management Board of Infortar.

“The Group companies Tallink and Elenger have jointly taken a significant step towards sustainability – Tallink’s newest shuttle vessel, MyStar, began using bio-LNG fuel in the third quarter, with the aim of transitioning both MyStar and Megastar fully to bio-LNG. Tallink is setting an example for other operators and helping to reduce the environmental footprint across the Baltic Sea,” Hanschmidt added.

“Major changes are also taking place in onshore gas consumption. In Estonia, the share of locally produced biomethane – derived from cattle manure and biowaste – has already grown to nearly 10% of the country’s total gas consumption, thereby strengthening our overall energy independence. In the transport sector, imported fossil gas has already been replaced by locally produced green gas, transforming what was once a fossil fuel into a renewable and domestic source of energy,” Hanschmidt noted.

Major Events

Maritime transport

In the third quarter of 2025 Tallink transported a total of 1 766 335 passengers and 60 306 cargo units. The third quarter was strong for the Tallink Group. supported by increased passenger numbers during the summer months and improved profitability. In the maritime transport segment. all vessels are now back in operation and the company has demonstrated strong adaptability and sustained financial stability in a challenging economic environment.

Energy

Elenger Grupp. the largest private energy company in the Finnish and Baltic region. sold a total of 3.8 TWh of energy. Sales in Estonia accounted for 11% of the energy sales of the total volume. The company´s market share increased to 30.5% in the third quarter. confirming Elenger’s strong position in the regional energy market.

The construction of Rimi's logistics centre and the new Pärnu bridge are going according to the schedule. In July. the bridge arch was installed. introducing new engineering solutions to Estonia.

Real estate and infrastructure

INF Infra continued the construction of Rail Baltica’s mainline on the Kangru-Saku section. The contract value is EUR 67.2 million. and the work is planned to continue until March 2028. Construction on a 40.000 square-meter commercial space for Depo (DIY Store) in Lasnamäe continued. The project is scheduled for completion in the fall of 2026.  

Key financial figures

Notes: *EPS (in euros) is calculated as: profit/loss attributable to the owners of the parent * 1000 / number of shares of which own shares are excluded. ** Investment loans / EBITDA. annualized. For comparability actual EBITDA of Tallink Grupp for the relevant period has been used.

Revenue

During the first nine months of 2025. Infortar's consolidated revenue increased by €493. 955 million reaching €1 419.6 million compared to €925.607 million in the same period in 2024. A positive impact came from the addition of new companies to the consolidation group compared to the previous year.

EBITDA and Segment Reporting

In the nine months of the 2025 financial year the EBITDA of the maritime transport segment amounted to EUR 102.5 million (9 months 2024: EUR 149.5 million).

Energy Segment: Nine-month EBITDA for 2025 was €76.5 million down from €79.5 million in 2024.

Real Estate Segment: EBITDA for real estate in the first nine months of 2025 reached €11 million. up from €11 million in the same period of 2024. In the real estate segment. the assessment of profitability takes into account the EBITDA of separate real estate companies.

Net Profit

Consolidated net profit for the first nine months of 2025 was €57.828 million compared to €187.339 million for the same period in 2024. The previous year results included a one-time profit from the Tallink acquisition.

Financing

Loan and lease obligations totalled €1 035.4 million for the first nine months of 2025 down from €1 166.2 million in 2024 mainly due to the consolidation of Tallink liabilities. The net debt EBITDA is 4.2.

STATEMENT OF FINANCIAL POSITION

INCOME STATEMENT

CASH FLOW STATEMENT

Infortar operates in seven countries. the company's main fields of activity are maritime transport. energy and real estate. Infortar owns a 68.47% share in Tallink Grupp. a 100% share in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141.000 m2. In addition to the three main areas of activity. Infortar also operates in agriculture, engineering, construction minerals, printing sector, services and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates Infortar employs 6558 people.

Additional information:

Kadri Laanvee

Investor Relations Manager

Phone:

e-mail:

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