Tallink Grupp Posts Higher Third-Quarter Profit Despite Rising Costs

Tallink Grupp presented its results for the third quarter of 2026, posting a higher net profit than a year earlier thanks to strong summer performance in passengers and cargo, despite rising operating costs. The Estonian shipping company also announced the payment of a dividend to its shareholders.

According to Baird Maritime, net profit for the July-September quarter reached EUR 43.8 million (USD 49.2 million), up 7.4% from EUR 40.8 million (USD 45.8 million) in the same period of 2025, with revenue of EUR 246.7 million (USD 277.2 million). Portal Portuario, meanwhile, placed net profit at USD 49.1 million and unaudited consolidated revenue at USD 276.7 million, compared with USD 261.5 million in the third quarter of 2025. The number of passengers carried grew 2.8% to 1,816,174 and cargo units increased 7.8% to 64,980, while passenger vehicles fell 1.1% to 249,100, according to Portal Portuario.

Gross operating profit edged down to EUR 67.9 million (USD 76.3 million) from EUR 68.9 million (USD 77.4 million), according to Baird Maritime. Both that source and Portal Portuario agreed that fuel costs rose 45.5% year-on-year, attributed to geopolitical tensions, particularly in the Middle East, which generated volatility in energy markets. Baird Maritime further noted that costs under the European Emissions Trading System (ETS) grew 64.3% to EUR 5.9 million (USD 6.6 million), as the proportion of emissions subject to the surrender obligation rose to 100%, up from 70% in 2025.

On the Finland-Sweden route, operated by the vessels Silja Serenade and Silja Symphony between Helsinki and Stockholm and by Baltic Princess between Turku and Stockholm, cargo grew 20.5% and passengers 5.3%, with a revenue increase of EUR 5.8 million (USD 6.5 million) according to Baird Maritime, although the segment's result fell by EUR 1 million (USD 1.1 million) to EUR 11.2 million (USD 12.6 million) according to that source, or USD 12.5 million according to Portal Portuario. On the Estonia-Finland route, served by the shuttle vessels MyStar and Megastar and the ferry Victoria I, cargo rose 15.9%. On the Estonia-Sweden route, however, cargo plunged 50.1% following the closure of the Paldiski-Kapellskär route, after the Superfast IX (now St Patrick) was chartered for 36 months starting May 1. The Romantika added extra departures between Tallinn and Stockholm before being chartered for accommodation during the Mediterranean Games in Italy, and was laid up at the close of the quarter.

In the first nine months of 2026, Tallink Grupp carried 4,307,304 passengers, up 2% from a year earlier, with unaudited revenue of USD 676 million (USD 577.3 million in the same period of 2025) and unaudited net profit of USD 21.7 million, according to Portal Portuario. Baird Maritime noted that net debt stood at EUR 398.6 million (USD 447.9 million) as of September 30, with a trailing twelve-month net debt/EBITDA ratio of 3.0, and quoted the Chairman of the Management Board, Peep Jalakas, who stated that the third quarter is the company's most important period of the year and that the summer confirmed solid demand for its services. Tallink itself separately announced the payment of a dividend alongside these quarterly results.