LHV Institutional Baltic Insight, June 3rd, 2020
Please find attached today's edition of the Baltic Insight.* As a result of the preventive measures imposed by the Estonian, Finnish, and Latvian governments to curb the spread of the coronavirus, Tallink Grupp (‘TAL’ or the ‘Group’) serviced very limited PAX flows in May 2020, accompanied by a sluggish number of passenger vehicles transported.
* Additionally, declining economic activity in the Baltic Sea region and a lower number of departures of TAL have depressed TAL’s cargo flows, but the Group managed to somewhat improve its cargo traffic compared to April 2020 numbers.
* On a y-o-y basis, in May 2020, TAL’s monthly PAX number plummeted 91.2% to just 75,500, with total passenger cars dropping 75.1% to 23,400. TAL’s total cargo traffic declined 18.4% y-o-y to 28,900 units (+4.3% m-o-m). Please also refer to the table 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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