The Estonian shipping company Tallink Silja Line recorded a slight increase in passenger numbers in the second quarter of 2025, but had to accept a net loss.
According to the company, 1.49 million passengers were transported in the period from April to June. This corresponds to an increase of 2.5% compared to the previous year. However, the net loss amounted to € 2.5 million, mainly due to a dividend income tax of € 11 million.
Tallink Silja says freight business under pressure – car transportation stable
“The increase in passenger numbers reflects the regained confidence and the recovery in the willingness to travel,” says Paavo Nõgene, CEO of Tallink Grupp. At the same time, the freight sector remains challenging: while car transport increased slightly by 1.4% to 212,782 units, the number of freight units fell significantly by 22.8% to 67,038. Meanwhile, unaudited revenue for the second quarter amounted to €207 million and EBITDA to €37.4 million. The company positively emphasizes the reduced number of unused ships. The chartering of the “Romantika” to Algeria and the sale of the “Star I” should improve capacity utilization and generate additional income.
Investments weigh on earnings in the first half of the year
In the first half of 2025, the company carried 2.5 million passengers, a decline of 3.8% compared to the previous year. Revenue fell by 7.1% to € 344.2 million, while EBITDA dropped from € 81.1 million to € 33.6 million. The bottom line is a net loss of € 35.7 million, following a profit of € 8.7 million in the same period of the previous year.
Additional charges were incurred due to 68 days of shipyard time for the “Baltic Princess” and “Silja Serenade” as well as investments of € 22 million for their modernization. According to CEO Nõgene, these expenses should contribute to profitability in the long term. Reducing the debt burden and targeted investments in the fleet remain key objectives for the company.
The company owns 14 ships and operates many different routes under the Tallink Silja Line brand. In total, the company employs almost 5,000 people in Estonia, Finland, Sweden, Latvia, Lithuania and Germany. The shipping company is listed on the Tallinn Stock Exchange and the Nasdaq Helsinki Stock Exchange.
