According to the preliminary financial results for 2024, the Port of Tallinn’s revenue was EUR 120 million, up 2.5% year-on-year. Adjusted EBITDA increased by 8% to EUR 53 million, while net profit increased by 21% to EUR 19 million. Chairman of the Management Board Valdo Kalm noted that the success was due to the growth in cargo turnover and passenger traffic, as well as investments in the development of port infrastructure.
The total volume of cargo transportation increased by 4.4%, especially due to container cargo, bulk materials and Ro-Ro transportation. The passenger segment saw an increase of 3.6%, including due to the increase in the number of cruise ships and positive forecasts for the upcoming season. The ferry sector recorded an increase in passenger traffic of 2.1%, while the number of cars transported increased by 3.6%.
In 2024, the company invested EUR 38.8 million, an increase of 87% compared to the previous year. The largest project is the construction of a berth for offshore wind farms in the Port of Paldiski South. Other projects include the reconstruction of the berths in Muuga to accommodate large container ships, the modernization of Terminal A in the Old City Harbour and the improvement of the ferry infrastructure. The management plans to allocate at least 70% of the annual profit to dividends; the final decision will be made by the shareholders’ meeting.