LHV Institutional Baltic Insight, April 7th, 2021
* Tallink Grupp’s (TAL1T ET or the ‘Group’) PAX flows continued to deteriorate in March 2021, following the additional travel limitations imposed by Finland from 27th January. The current travel and movement restrictions reflect a large number of new COVID-19 infections in the Baltics as well as the Nordic countries.* On the cargo side there are some encouraging signs in terms of the traffic dynamics. Although the total cargo flow still declined y-o-y in March 2021, the monthly traffic reached the highest level since September 2020, while improving substantially in comparison with the previous months of this year. TAL’s total cargo traffic decreased 10.2% y-o-y to 31,500 units in March, but the figure increased 19.2% compared to February, with volumes expanding on all routes that are currently open.
* TAL’s monthly PAX number dropped 74.2% y-o-y (-2.9% m-o-m) to 72,000, with total passenger cars declining 53.1% y-o-y (+5.8% m-o-m) to 19,700. Please also refer to the tables in the attachment.
Tallink Grupp AS is a ferry operator providing mini-cruise and passenger transport services in the Baltic Sea region. The Company also offers cargo services on the various routes between Finland-Sweden, Estonia-Finland, Estonia-Sweden, Finland-Germany, and Latvia-Sweden under the brand names of Tallink and Silja Line. In addition, the Group operates four hotels in Tallinn and one in Riga. As of March 28, 2013, the Company's major shareholder was Infortar AS with a stake of 35.81%.
LHV Bank is an independent pan-Baltic bank, based on Estonian capital. The company was founded in 1999 by two founders of Hansapank (today’s Swedbank in the Baltics) and has been offering a full range of investment services for 15 years. In May 2009, LHV received a credit institution licence allowing it to provide all banking services.
The head office is situated in Tallinn, Estonia. Cross-border services are offered in Vilnius, Lithuania and in Riga, Latvia. LHV provides brokerage (institutional and retail), asset management, banking and capital markets services. Compared to other banks, we are more innovative and have more solid experience in investment and entrepreneurship.
The Bank, together with the Group asset management company employs over 320 people. LHV Group shares are listed on Nasdaq Tallinn.
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