First quarter 2010 net profit of Port of Tallinn EEK 163 million (EUR 10.4 million)

The unaudited estimates show the consolidated return on sales of Port of Tallinn for the first three months of 2010 to be a total of EEK 340 million (EUR 21.7 million), which compared to the same period of 2009 indicates a EEK 10 million (EUR 0.64 million) or a 3% growth, and the consolidated net profit to be EEK 163 million (EUR 10.4 million), exceeding the indicators from the comparative period of last year by EEK 12 million (EUR 0.77 million) or by 8%.

The first three months of 2010 were successful for the Port of Tallinn. The cargo volume reached 8.5 million tons, which indicates a growth of 0.9 million tons or by 12%. The leading article driving the growth was solid bulk goods, however, the container and rolling stock, decreasing throughout the whole 2009, have finally started to show growth tendencies and secured the highest level for the past five quarters. Due to the increase in cargo volume, the Port of Tallinn was able to maintain the third placement in the comparison of cargo volumes of the Eastern ports of the Baltic Sea, ranking right below Primorsk and St. Petersburg and outranking the ports of Klaipeda, Ventspils, and Riga.

Despite of the complicated economic environment and the drop in consumption rates, also the number of passengers continued to grow in the first three months of 2010, reaching the total of 1.45 million passengers, which in comparison to the same time period of 2009, signifies an increase of 83 thousand passengers or by 6%.