Tallink’s profits drop while owners top the rich list

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Tallink’s profits drop while owners top the rich list

Nov 05, 2008
By Matt Withers

NEW BOAT: Tallink claims that the purchase of two new vessels skews the company’s profit margins.

TALLINN - Estonia’s largest ferry company has reported unaudited profits of 318 million kroons (20.3 million euros) in the last financial year, representing a 70 percent decline year-on-year. The Tallink Group has denied that they are feeling heat from the global financial crisis, claiming that, aside from the interest rate decrease over last summer, the company remains largely unaffected by the downturn. Company representatives said their loans average a 10 year maturity and are being paid u ...

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