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Harju County Court started the proceedings on the claim filed by AS Tallink Grupp against AS Tallinna Sadam

Written by Customer Service on . Posted in Public Companies.

Harju County Court stared the proceedings on the claim filed by AS Tallink Grupp (hereinafter: „Tallink“) against AS Tallinna Sadam (hereinafter: „Tallinna Sadam“) for partial reimbursement of the port dues of EUR 15.4 million (plus accrued interest) unduly received or, alternatively, for compensation of damages. Tallink claims that Tallinna Sadam has imposed unfairly high port dues in the Tallinn Old City Harbour for passenger vessels sailing on international regular lines in the years 2017, 2018 and 2019; and thereby abused its dominant position in the market.

In the opinion of Tallinna Sadam, the claim filed by Tallink for compensation of allegedly unfair port dues is unreasonable and Tallinna Sadam intends to stand up for the sustainability of the company and the interests of its shareholders. Commentary on Tallink’s stock exchange announcement of the claim is presented in Tallinna Sadam’s 01.03.2021 announcement.

The claim does not have a direct impact on the financial results of Tallinna Sadam, as the management board of Tallinna Sadam considers the claim unjustified and no reserve has been formed to cover the claim.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which serves annually 10 million passengers and 20 million tons of cargo in average. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services. The group’s sales in 2020 totalled EUR 107.4 million, adjusted EBITDA EUR 58.4 million and profit EUR 28.5 million.

Additional information:

Marju Zirel
Head of Investor Relations
Tel. +372 5342 6591

m.zirel@ts.ee

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