Estonian ferry operator Tallink reported a net profit of €40.8 million ($47.4 million) for the third quarter of 2025, driven by a strong summer season with revenues reaching €233.1 million.
Passenger numbers for the quarter increased by three per cent compared to the same period last year, reaching 1.77 million. However, the cumulative results for the first nine months of the year were impacted by the overall economic situation and vessel lay-ups.
For the first nine months of 2025, the group generated €577.3 million in revenue, a decrease of 4.2 per cent compared to the same period in 2024. Net profit fell significantly to €5.1 million, down from €45.5 million a year earlier, while EBITDA amounted to €102.5 million, which was €47 million less than the previous year.
Paavo Nõgene, CEO of Tallink, stated, “The third quarter was strong for us – the summer months brought the expected growth in passenger numbers and profitability. At the same time, we cannot ignore the fact that the full-year results highlight the complexity of the economic environment and the impact of ongoing geopolitical tensions on the sector.”
Nõgene added that the nine-month period was overshadowed by low consumer and business confidence, geopolitical tensions, and maintenance periods for two cruise ships, Baltic Princess and Silja Serenade, which significantly affected volumes. Results were also impacted by up to four idle vessels.
Looking ahead, Nõgene affirmed the company's focus remains on cost control, maintaining profitability on core routes, and mitigating low-season risks.
