Reported Earnings • Aug 11
Second quarter 2026 earnings released: EPS: €0.01 (vs €0.013 in 2Q 2025) Second quarter 2026 results: EPS: €0.01 (down from €0.013 in 2Q 2025). Revenue: €31.6m (up 7.2% from 2Q 2025). Net income: €1.43m (down 59% from 2Q 2025). Profit margin: 4.5% (down from 12% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Infrastructure industry in Europe. New Risk • Jun 01
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 95% Cash payout ratio: 149% Dividend yield: 5.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 95% Cash payout ratio: 149% 공고 • Apr 02
as Tallinna Sadam Proposes Dividend for 2026, Payable on May 20, 2026 AS Tallinna Sadam announced based on the dividend policy approved by the general meeting of shareholders to pay a dividend at least 70% of the profit, the management board, with the approval of the supervisory board, will propose to the general meeting of shareholders to pay a dividend of EUR 0.073 per share in 2026, totaling EUR 19.199 million. According to the draft resolution of the shareholders submitted to the general meeting, the list of shareholders entitled to receive dividends will be established as at 13 May 2026 at the end of the business day of Nasdaq CSD settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 12 May 2026. From that day the person acquiring shares will not have the right to receive dividends for the financial year 2025. Dividends shall be disbursed to the shareholders on 20 May 2026. 공고 • Feb 11
The Multifunctional Quay Built in Paldiski South Harbour Receives A Use Permit The new multifunctional quay of AS Tallinna Sadam was completed last year. The total investment was 64 million euros, of which 20 million euros were co-financed by the European Commission through the military mobility project EstMilMob. The new quay of Paldiski South Port is unique in the region – it is 310 meters long, the depth in front of the quay is 13.5 meters and the quay includes a 10-hectare hinterland area. The issuance of the use permit enables to start using the quay immediately, and the first planned vessel calls will bring components of the onshore wind farm being built in Latvia. The new quay will also allow to receive other oversized and heavy project goods. The new quay with a hinterland area built in Paldiski South Harbour is, in addition to military purposes, also necessary to increase the capacity of sea transport of goods and vehicles. Due to the favorable location of Paldiski South Harbour, the new quay creates the prerequisites for Tallinna Sadam to become an important partner in the construction and subsequent maintenance of wind farms both at sea and on land. The new quay ensures the ability to receive special-purpose vessels with large drafts in the port. The large hinterland area allows for various preparation works for manufacturing and storing generators and wind turbine blades. 공고 • Dec 16
The European Union Approves Funding for AS Tallinna Sadam The European Union approved funding for AS Tallinna Sadam (hereinafter: Tallinna Sadam) project PoTOPS (Port of Tallinn Onshore Power Supply), which aims to create onshore power supply for cruise ships at two quays in the Old City Port by 2030. The project, which will last more than three years, will include the construction of a power grid connection to the Elering main grid, a 110/10kV substation and onshore power supply infrastructure with connection equipment for cruise ships. The capacity of the substation will cover the need to supply two cruise ships with onshore power at quays no 26 and 27, as well as the needs of future hybrid and fully electric Ro-Pax ships. The estimated total cost of the PoTOPS project is 39.7 million euros and the amount up to 30% will be covered by the Connecting Europe Facility (CEF) Alternative Fuels Infrastructure measure (AFIF). The Council of Tallinna Sadam approved the investment, the planning and the works will begin as soon as possible. 공고 • Dec 11
TS Shipping OU Appoints Margus Raad as Management Board Member Responsible for International Business Development and Sales, Effective January 15, 2026 TS Shipping OU, a subsidiary of AS Tallinna Sadam, reported that the Supervisory Board decided on November 26 to appoint Margus Raad as a new Member of the Management Board, with a term of office of three years starting from January 15, 2026. Margus Raad will be responsible for international business development and sales. Margus Raad graduated from the Estonian Maritime Academy in 2003 with a degree in nautical sciences and subsequently worked for several years as an officer on various vessels. In 2007, he joined Tschudi Ship Management AS, a company providing vessel technical and crew management services, working as a quality and safety coordinator. Later, he served as deputy CEO of the same company, and since the end of 2012 he has been the CEO of Tschudi Ship Management AS. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: €0.03 (vs €0.021 in 3Q 2024) Third quarter 2025 results: EPS: €0.03 (up from €0.021 in 3Q 2024). Revenue: €32.0m (up 2.5% from 3Q 2024). Net income: €8.59m (up 54% from 3Q 2024). Profit margin: 27% (up from 18% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Infrastructure industry in Europe. New Risk • Nov 11
New major risk - Revenue and earnings growth Earnings have declined by 12% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 12% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (95% payout ratio). 공고 • Apr 05
AS Tallinna Sadam, Annual General Meeting, Apr 24, 2025 AS Tallinna Sadam, Annual General Meeting, Apr 24, 2025, at 14:00 FLE Standard Time. Location: in the atrium of head office of tallinna sadam, Estonia 공고 • Mar 01
AS Tallinna Sadam Proposes Dividend AS Tallinna Sadam Board proposes the Council to pay a dividend to shareholders for 2024 the minimum of 70% of the annual profit in accordance with the dividend policy. 
