In June 2024 Harju County Court terminated the criminal proceedings towards former member of the management board of AS Tallinna Sadam (hereinafter: “Tallinna Sadam”) Ain Kaljurand, Allan Kiil and other defendants due to expiration of the limitation period for the criminal case, released the properties from seizure and partially ordered procedure expenses. The county court agreed that the defendants had participated in corrupt agreements but considered them to be cases of private sector corruption, in which the statute of limitations for the offenses is shorter compared to the situation of taking a bribe by an official person. The termination of the criminal proceedings resulted in the non-examination of the civil claim of the victims, Tallinna Sadam and TS Laevad OÜ. Tallinna Sadam and OÜ TS Laevad, as parties to the legal proceedings, filed an appeal with the Tallinn Circuit Court and asked the court to annul certain points of the resolution of the Harju County Court's decision of 27 June 2024. The victims found that the former members of the board of Tallinna Sadam should be treated as official persons and therefore the civil claim should be resolved on its merits.

In the first quarter of 2025, sales revenue of Tallinna Sadam group amounted to 28 million euros showing growth of +1.5%, adjusted EBITDA was 14 million euros increasing by +18% and profit 7 million euros increasing by +31% compared to the same period last year. The adjusted EBITDA margin was 49% and the volume of investments was close to 4 million euros.

For the year 2024 AS Tallinna Sadam will pay dividends of 0.073 euros per share, in the total amount of 19,199,000 euros. The list of shareholders entitled to receive dividends will be established as at 9 May 2025 at the end of the business day of the settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 8 May 2025. From that day the person acquiring shares will not have the right to receive dividends for the financial year 2024. Dividends shall be disbursed to the shareholders on 16 May 2025.

AS Tallinna Sadam invites all the stakeholders to join its investor conference webinar, introducing the unaudited results for Q1 2025. The webinar is scheduled for 12 May 2025.

In 2025 Q1, 3.3 million tons of cargo and 1.4 million passengers passed through the harbours of Tallinna Sadam. Compared to the same period previous year, the number of passengers decreased by 3.6% i.e. 52 thousand passengers, while the cargo volume remained at similar level decreasing 0.7% i.e. 24 thousand tons. However, the number of vessel calls increased by 4,8%. The number of passengers travelling between the Estonian mainland and the main islands decreased by 2,1%, the number of vehicles increased by 2,1%. The number of charter days of the icebreaker Botnica stayed at the same level as previous year, utility rate of the vessel was 100%.

Dear shareholder!

The supervisory board of AS Tallinna Sadam (hereinafter: “Tallinna Sadam”) approved the audited annual report for 2024 presented by the management board. Compared to the unaudited interim report published on 28 February, there are no differences in the audited financial results.

AS Tallinna Sadam (hereinafter: Tallinna Sadam) has concluded on 31 March 2025 an agreement with the Ministry of Climate, the state asset manager and representative of the Republic of Estonia, for the transfer of land related to the construction of the Rail Baltica Muuga railway station. According to the offer of the Land and Spatial Development Board and the agreement between the parties, the total amount of the transaction is 4,884,711 euros, which includes the payment for the immovables, the incentive fee and compensation for the costs related to the preparation of the transaction. Eight properties of various sizes, a total of approximately 165 thousand m², are transferred to the state. The sale of land has a positive impact on 2025 financial results of Port of Tallinn.