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In the second quarter (1 April – 30 June) of the 2020 financial year, Tallink Grupp AS and its subsidiaries (the Group) carried 388 thousand passengers, which is 85.4% less than in the second quarter last year. The number of cargo units transported decreased by 12.8% in the same comparison. The Group’s unaudited consolidated revenue decreased by 74.6% or EUR 191.1 million to a total of EUR 65.0 million. Unaudited EBITDA was EUR 2.4 million (EUR 50.7 million in Q2 2019) and unaudited net loss was EUR 27.4 million (net profit of EUR 14.9 million in Q2 2019). In the second quarter, the Group’s revenue and operating results were impacted by the following operational factors: * Covid-19 and related travel restrictions. * 978 trips less due to suspended operations. * Restrictions on maximum capacity.Impact of Covid-19 and travel restrictionsDue to the global outbreak of Covid-19, the state of emergency was declared in most of the Group’s home markets in mid-March together with imposing travelling and movement restrictions. The restrictions were gradually removed starting from mid-May. However, the restrictions remain in force for international passenger traffic to and from Sweden. The impact of the Covid-19 on the Group’s second quarter operations and results has been very extensive. The combined passenger volume of April and May was down by 93% compared to last year. There was a slight recovery in June following Finland lifting its travel restrictions. Still, the number of passengers carried in the month was 72% lower compared to June 2019. Customer profiles changed from a mix of home and foreign markets to mainly home. In the situation of extensive travel restrictions and lower demand, the focus was shifted to cost and cash flow management to ensure the sustainability of the Group’s core business. Thus, non-critical costs and investments were scaled down and several operational changes were made. * Operations of the Tallinn-Stockholm route with vessels Victoria I and Baltic Queen has been suspended since 15 March. * Daily operations of the Riga-Stockholm route with vessels Romantika and Isabelle has been suspended since 16 March. * Operations of the Tallinn-Helsinki route cruise ferry Silja Europa were suspended from 17 March to 12 June and shuttle vessel Star from 18 March to 14 May. * Operations of the Helsinki-Stockholm route with vessels Silja Serenade and Silja Symphony has been suspended since 19 March. * Operations of Tallink Hotel Riga and Tallink Spa & Conference Hotel, which were suspended from 18 March, were reopened on 1 and 12 June, respectively. Tallink Express Hotel in Tallinn remained open in limited capacity in the second quarter. Tallink City Hotel has remained closed since 18 March. Throughout the quarter our vessels have been flexibly rerouted to other routes. * In cooperation with Estonian Ministry of Economic Affairs and Communication, the shuttle vessel Star was rerouted to the Paldiski-Sassnitz route from 19 March to 18 April to ensure continuing transportation of goods between the Baltic and the Nordics and western Europe. * The cruise ferry Victoria I was rerouted to the Tallinn-Helsinki route from 7 June and the cruise ferry Baltic Queen to the Tallinn-Mariehamn route to perform 2 special cruises in June. * The cruise ferry Romantika operated 6 special return trips in the second quarter on the Riga-Stockholm route to transport cargo and commuters. The cruise ferry Isabelle was rerouted to the Paldiski-Kapellskär route from 7 June. * The cruise ferry Silja Serenade was rerouted to the Helsinki-Riga route from 26 June.The Estonia-Finland routes shuttle vessel Megastar and cargo vessel Seawind, the Paldiski-Kapellskär route cargo vessel Regal Star and the Turku-Stockholm route cruise ferries Baltic Princess and Galaxy continued operating to ensure international movement of cargo. Changes concerning workload and remuneration of personnel Due to the Covid-19 situation the following changes relating to personnel were in force in the second quarter of 2020: * The workload and remuneration of all Estonian personnel was reduced to 70% for three months. * Most of the Finnish personnel were on unpaid leave, except the staff on duty. * The workload of Swedish personnel was reduced to 40% in April and to 20% in May and June, except for the staff on duty on vessels. * The workload and remuneration of all Latvian personnel was reduced to 70% for two months. * The Members of Supervisory Board of Tallink Grupp AS waived their remuneration for three months. * The Chairman of the Management Board requested his salary to be reduced to 50% and other Management Board Members’ salaries were reduced to 70% for three months.During the reporting period, collective redundancies process was carried out, including among others hotel personnel and onboard personnel. To date the redundancies have affected approximately 500 employees. Additional collective redundancies process has commenced in the second quarter, which potentially affects another 700 employees by the end of the third quarter.The average number of employees during the quarter and the number of employees at the end of quarter were, respectively, 10.7% and 15.0% lower compared to the same period a year ago.Combination of changes relating to personnel and salary compensation support measures offered by the states resulted in a decrease by EUR 29.7 million in personnel expenses in the second quarter of 2020 compared to same period last year.Support measures Starting from March the Group has received a total of EUR 17 million in various direct financial support. Majority of the support was received in the second quarter of 2020. The Group used temporary salary compensation measures offered by the states. From 19 March to 18 June, the operations of Megastar on the Tallinn-Helsinki route and the Turku-Stockholm route two vessels were backed by Finland’s National Emergency Supply Agency’s to ensure the cargo supply. The support was of crucial help in covering the operating expenses, which were already reduced to minimum, and thereby reducing the operating losses.Estonian parliament approved the change in legislation granting exemption from ships’ fairway dues for twelve months starting from April 2020. Activities to improve liquidity The Supervisory Board proposed to the shareholders’ annual general meeting not to pay dividends from net profit for 2019.An instalment for the construction of the shuttle vessel MyStar, originally scheduled for the second quarter of 2020, was postponed to the third quarter of 2020 after negotiations with the shipyard.In order to relieve the liquidity issues caused by the Covid-19 situation, the Group’s companies were allowed to postpone the tax payments. At the end of the second quarter, the postponed tax liability amounted to EUR 11.1 and will be paid in even amounts until autumn 2021.During the quarter the Group negotiated with existing and new financial institutions financing and payment terms including waivers of loan covenants, deferral of loan principal repayments for the year 2020 and new loan agreements. As a result, the Group’s liquidity improved in great extent and therefore the financial report has been prepared according to going concern principle.Sales and segments In the second quarter of 2020, the Group’s total revenue decreased by EUR 191.1 million to EUR 65.0 million. Total revenue in the second quarter of 2019 and 2018 was EUR 256.1 million and EUR 255.4 million, respectively. Revenue from route operations (core business) decreased by EUR 179.5 million to EUR 56.4 million. The passenger operations and segment results on all routes were significantly affected by Covid-19 situation and travel restrictions.The number of passengers carried on the Estonia-Finland routes decreased by 76.7% compared to last year and the number of transported cargo units decreased by 6.9%. Estonia-Finland routes’ revenue decreased by EUR 61.3 million to EUR 33.6 million. The segment result decreased by EUR 23.9 million to EUR -2.4 million. The Estonia-Finland routes’ results include also the operations of the Paldiski-Sassnitz and the Tallinn-Mariehamn routes. The Finland’s National Emergency Supply Agency support to partially cover the operating expenses of the shuttle vessel Megastar is reported as other operating income.The number of passengers carried on the Finland-Sweden routes decreased by 93.0%, while the number of transported cargo units decreased only by 8.7%. The route’s revenue decreased by EUR 73.4 million to EUR 16.2 million and the segment result decreased by EUR 27.6 million to EUR -18.4 million. Finland-Sweden results include also the operations of the Helsinki-Riga route as well as the expenses related to the suspended Helsinki-Stockholm route. The Finland’s National Emergency Supply Agency support to partially cover the operating expenses of the Turku-Stockholm route operations is reported as other operating income.On the Estonia-Sweden routes the number of passengers carried decreased by 96.9% and the number of transported cargo units decreased by 25.1%. The segment revenue decreased by EUR 26.1 million to EUR 5.2 million and the segment result decreased by EUR 7.2 million to EUR -4.9 million. Estonia-Sweden routes’ results reflect the operations of the Paldiski-Kapellskär route and the expenses related to the suspended operations of the Tallinn-Stockholm route.There were no daily operations on the Latvia-Sweden route during the quarter. The results reflect 6 return trips performed with permission from the authorities as well as incurred operating expenses of the suspended route. The number of transported passengers and cargo units decreased by 98.5% and 89.4%, respectively. The route’s revenue decreased by EUR 18.7 million compared to last year and amounted to EUR 1.3 million. The segment result decreased by EUR 4.5 million to EUR -4.2 million.Revenue from the segment other decreased by a total of EUR 13.5 million and amounted to EUR 8.7 million. The decrease was mainly driven by the suspended operations of 3 hotels, which resulted in 95.8% lower accommodation sales, and significantly lower revenue from services provided at the hotels. The segment revenue was positively impacted by a significant increase in online shop sales, opening of the first four Burger King restaurants and revenue from providing mooring services at the Tallinn Old City Harbour.EarningsIn the second quarter of 2020, the Group’s gross profit decreased by EUR 82.5 million compared to the same period last year, amounting to EUR -21.9 million. EBITDA decreased by EUR 48.3 million and amounted to EUR 2.4 million.The Group’s second quarter financial result was impacted by the following factors: * Significant cut in operating expenses, including significant decrease in personnel expenses as a result of collective redundancies, state support measures and remuneration cuts. * Positive impact from support measures. * Positive impact from the absence of dividend payment related corporate income tax expense in the amount of EUR 8.1 million as in the second quarter last year. Amortisation and depreciation expense increased by EUR 1.8 million to EUR 25.2 million compared to last year. Net finance costs increased by EUR 0.2 million compared to the second quarter last year.The Group’s unaudited net loss for the second quarter of 2020 was EUR 27.4 million or EUR 0.041 per share compared to a net profit of EUR 14.9 million or EUR 0.022 per share in 2019 and net profit of EUR 15.3 million or EUR 0.023 per share in 2018.Results of the first 6 months of 2020In the first 6 months (1 January – 30 June) of the 2020 financial year the Group carried 2.0 million passengers which is 56.6% less compared to the same period last year. The Group’s unaudited revenue for the period decreased by 49.4% and amounted to EUR 219.9 million. Unaudited EBITDA for the first 6 months was EUR 1.2 million (EUR 54.5 million, 6 months 2019) and unaudited net loss was EUR 57.6 million (EUR 10.4 million, 6 months 2019 net loss).The financial result of the first 6 months of 2020 was impacted by following factors: * Suspended operations of vessels and hotels due to the Covid-19 situation and the travel restrictions from mid-March. * Dockings of six ships totalling 79 days (total of 121 docking days in the first 6 months of 2019) InvestmentsThe Group’s investments in the second quarter of 2020 amounted to EUR 14.4 million with the majority arising from the EUR 8.5 million purchase of a ro-pax vessel Sailor. Investments were made in the ships’ technical maintenance, including works performed during Silja Serenade 10 docking days in April.Investments were also made in the development of the online booking and sales systems as well as other administrative systems and in relation to the opening of four Burger King restaurants.DividendsDue to a deteriorated operating environment and considering the Company’s long-term interests, the Supervisory Board proposed to the shareholders’ annual general meeting not to pay dividends from net profit for 2019. On 30 July 2020 (third quarter), the shareholders’ annual general meeting decided not to pay dividends from net profit for 2019.Financial positionIn the second quarter, the Group’s net debt increased by EUR 19.2 million to EUR 593.8 million and the net debt to EBITDA ratio was 5.0 at the reporting date. At the end of the second quarter, total liquidity buffer (cash, cash equivalents and unused overdraft facilities) amounted to EUR 104.9 million (EUR 123.1 million at 30 June 2019). At 30 June 2020, the Group’s cash and cash equivalents amounted to EUR 21.9 million (EUR 67.1 million at 30 June 2019) and the Group had EUR 83.0 million in unused overdraft facilities (EUR 56.0 million at 30 June 2019).Economic EnvironmentThe Group considers Finland, Sweden, Estonia and Latvia its home markets with the most exposure to the economic developments in Finland. The Group has also high exposure to the economic developments in Estonia and Sweden.In the second quarter of 2020 the Group’s economic environment was dominated by the Covid-19 pandemic outbreak and the related restrictions set by governments. According to the OECD data, the confidence of both the consumers and the businesses plummeted across all our home markets during the quarter, particularly in Estonia and Latvia. For the Group the weaker consumer confidence reflected mainly in the lower demand for travelling. The demand was also hindered by the imposed travelling and movement restrictions. The international travel restrictions and reduced air traffic also effectively meant the absence of demand from the customers from outside our home markets. The Covid-19 situation improved enough for gradually lifting the majority of the restrictions on all our other home markets, except for Sweden, allowing to restart of some of our passenger operations toward the end of the quarter. The state-level travelling and border-crossing restrictions effectively allowed to offer only international cargo operations to and from Sweden. Although the cargo market fared somewhat better relative to the passenger business the Covid-19 impact is felt in this area too. Along with the tight competition, the decreased business confidence materialised as decline both in the number of cargo units and in the average revenue per unit. Measured in euros the global fuel prices declined, on average, by 54% in the second quarter of 2020 compared to a year ago. The Group’s overall fuel cost declined by 56% compared to the same period last year. In addition to the change in the fuel market price, the change in the cost was affected by the number and timing of trips as well as an existing fuel price agreement with the price fixed above the market level. For the foreseeable future, the key risk has to do with global and regional developments with the Covid-19 situation and related restrictions on travel and other economic activities, its economic damage and its impact on local and international trade.Events in Q2Start of construction of the new shuttle vessel MyStar The physical production process of MyStar started on 6 April 2020 in Rauma shipyard in Finland with a traditional steel cutting ceremony.Changes in the Audit Committee Luke Staniczek was recalled from the Audit Committee and from 17 April, the Audit Committee continued with three members including Meelis Asi (Chairman of the Audit Committee), Ain Hanschmidt and Mare Puusaag.Changes in the Group structure In April 2020, TLG Agent OÜ, a wholly-owned subsidiary of the Group, was renamed LNG Shipmanagement OÜ. The main activity of the subsidiary is to provide crewing service.In June 2020, Tallink Latvija AS, a wholly-owned subsidiary of the Group, registered a wholly-owned subsidiary in Latvia – SIA BK Properties. The purpose of founding the subsidiary is acquisition and holding of real estate properties for the operation of Burger King restaurants in Latvia.Charter agreement extension In May 2020, Baltic SF IX Limited, a wholly-owned subsidiary of the Group, and Marine Atlantic Inc, a Canadian company with the state participation therein, concluded to extend the current charter agreement of MV Atlantic Vision (ex. Superfast IX) for two years, until November 2022. The vessel has been on the long-term bareboat charter since 14 November 2008.Increase of overdraft limit In the second quarter, the Group extended its existing overdraft facility with Danske Bank A/S by EUR 20.0 million and Nordea Bank Abp by EUR 20.0 million. After the reporting date, in July 2020, extension of overdraft facility with SEB Pank AS by EUR 20.0 million was finalized. The increase of the overdraft facilities helps to improve the Group’s liquidity.Changes in loan agreements Amendments to loan facility agreements signed by Tallink Grupp AS and all its lending banks whereby loan principal repayments in the amount of EUR 61 million for the year 2020 are deferred and added to the last payment of each respective loan facility came into force on 29 May 2020. The loans' final maturities and interest margins remained unchanged. Request for waivers of loan covenants were also approved.The repayment rescheduling improved significantly the Group's liquidity position and increased flexibility to maintain sufficient working capital in challenging economic environment.Signing of the loan agreement On 8 June 2020, Tallink Grupp AS and KredEx SA signed a working capital loan agreement. The total amount of the loan limit is EUR 100 million and the loan can be drawn in EUR 10-40 million tranches. The interest rate of the three-year maturity loan is 12-month Euribor +2%.The loan is secured by mortgages on five vessels ranking after the existing creditors.Purchase of ro-pax vessel Sailor On 30 June 2020, Baltic SF VIII Ltd, a subsidiary of the Group purchased a ro-pax vessel Sailor from Navirail OÜ. The ship is registered in the Cyprus Ship Registry and is going to sail under the Estonian flag. The purchase of the ro-pax vessel will strengthen the Group fleet’s cargo capacity.Fuel price risk management In the first quarter of 2020, the Group entered into agreements with its main fuel suppliers and fixed the purchase price of fuel equivalent to about 65% of its total estimated fuel volume for 2020. Due to the Covid-19 situation, more flexible terms were negotiated and agreed with one of the fuel suppliers in April.Opening of Burger King restaurants The Group opened its first three Burger King restaurants in Tallinn on 20 May 2020. The fourth restaurant was opened on 15 June 2020. The Group has secured the locations of its first Burger King restaurants in Latvia and Lithuania, to be opened in the second half of 2020.Events after the reporting period and outlookPrepayment for the new shuttle vessel MyStar The last prepayment instalments for the new shuttle vessel MyStar in the total amount of EUR 49.4 million will be made in the third quarter of 2020.Dividends On 30 July 2020, the shareholders’ general meeting decided not to pay dividend from net profit for 2019. Renovation of Tallink City Hotel Tallink City Hotel in Tallinn will undergo a full-scale renovation from September 2020. The renovation works are estimated to be finalised by the end of May 2021 and the hotel reopened in June next year.Earnings The Group’s earnings are not generated evenly throughout the year. The summer period is the high season in the Group’s operations. In management’s opinion and based on prior experience most of the Group’s earnings are generated during the summer (June-August).Due to the ongoing Covid-19 situation the earnings outlook for 2020 has become uncertain and will be largely subject to external factors such as the states’ decisions regarding the timing of lifting of the travel restrictions, allowing passenger traffic as well as the duration of the recovery period. In the opinion of the Management Board the Group will not earn profits in 2020 financial year.Research and development projects Tallink Grupp AS does not have any substantial ongoing research and development projects. The Group is continuously seeking opportunities for expanding its operations in order to improve its results.The Group is continuously looking for innovative ways to upgrade the ships and passenger area technology to improve its overall performance through modern solutions. The most recent project, in collaboration with ports in the Baltic Sea area and supported by the Connecting Europe Facility (CEF) fund, involves making preparations for the use of high-voltage shore connection during the vessels’ port stays. Another ongoing collaboration project with Tallinn University of Technology (TalTech) involves the development of smart car deck solutions.In addition, the Group is participating in a programme, funded by the European Space Agency, with a goal to develop techniques for autonomous navigation for ships, using a combination of different sensors, machine learning and artificial intelligence.Risks The Group’s business, financial position and operating results could be materially affected by various risks. These risks are not the only ones we face. Additional risks and uncertainties not presently known to us, or that we currently believe are immaterial or unlikely, could also impair our business. The order of presentation of the risk factors below is not intended to be an indication of the probability of their occurrence or of their potential effect on our business. * Covid-19 situation and developments * Accidents, disasters * Macroeconomic developments * Changes in laws and regulations * Relations with trade unions * Increase in the fuel prices and interest rates * Market and customer behaviour Key figuresFor the periodQ2 2020Q2 2019Change % Revenue (million euros)65.0256.1-74.6% Gross profit/loss (million euros)-21.960.6-136.1% EBITDA¹ (million euros)2.450.7-95.2% EBIT¹ (million euros)-22.727.4-183.0% Net profit/loss for the period (million euros)-27.414.9-283.8% Depreciation and amortisation (million euros)188.8.131.52% Capital expenditures¹ ²(million euros)14.418.5-22.0% Weighted average number of ordinary shares outstanding669 882 040669 882 0400.0% Earnings/loss per share¹-0.0410.022-283.8% Number of passengers388 2122 651 843-85.4% Number of cargo units86 75599 546-12.8% Average number of employees6 5787 363-10.7% As at30.06.202031.03.2020Change % Total assets (million euros)1 505.91 517.8-0.8% Total liabilities (million euros)740.5724.52.2% Interest-bearing liabilities (million euros)615.7591.04.2% Net debt¹ (million euros)593.8574.53.3% Net debt to EBITDA¹5.03.545.7% Total equity (million euros)765.3793.2-3.5% Equity ratio¹ (%)51%52% Number of ordinary shares outstanding669 882 040669 882 0400.0% Equity per share¹1.141.18-3.5% Ratios¹Q2 2020Q2 2019 Gross margin (%)-33.7%23.7% EBITDA margin (%)3.7%19.8% EBIT margin (%)-35.0%10.7% Net profit/loss margin (%)-42.1%5.8% ROA (%)1.3%4.0% ROE (%)0.3%4.1% ROCE (%)1.5%4.9% 1 Alternative performance measures based on ESMA guidelines are disclosed in the Alternative Performance Measures section of this Interim Report. 2 Does not include additions to right-of-use assets.EBITDA: result from operating activities before net financial items, share of profit of equity-accounted investees, taxes, depreciation and amortization EBIT: result from operating activities Earnings per share: net profit / weighted average number of shares outstanding Equity ratio: total equity / total assets Shareholder’s equity per share: shareholder’s equity / number of shares outstanding Gross margin: gross profit / net sales EBITDA margin: EBITDA / net sales EBIT margin: EBIT / net sales Net profit margin: net profit / net sales Capital expenditure: additions to property, plant and equipment – additions to right-of-use assets + additions to intangible assets ROA: earnings before net financial items, taxes 12-months trailing / average total assets ROE: net profit 12-months trailing / average shareholders’ equity ROCE: earnings before net financial items, taxes 12-months trailing / (total assets – current liabilities (average for the period)) Net debt: interest-bearing liabilities less cash and cash equivalents Net debt to EBITDA: net debt / EBITDA 12-months trailing Consolidated statement of profit or loss and other comprehensive incomeUnaudited, in thousands of EURQ2 2020Q2 2019Jan-Jun 2020Jan-Jun 2019 Revenue (Note 3)64 962256 103219 892434 973 Cost of sales-86 857-195 469-241 959-363 840 Gross loss/profit-21 89560 634-22 06771 133 Sales and marketing expenses-7 320-19 212-21 268-36 254 Administrative expenses-9 605-14 443-23 029-29 511 Other operating income16 13843917 6701 163 Other operating expenses-57-11-79-25 Result from operating activities-22 73927 407-48 7736 506 Finance income (Note 4)09311 095 Finance costs (Note 4)-4 588-4 506-8 700-9 837 Loss before income tax-27 32722 994-57 472-2 236 Income tax -44-8 104-97-8 129 Net loss for the period-27 37114 890-57 569-10 365 Net loss for the period attributable to equity holders of the Parent-27 37114 890-57 569-10 365 Other comprehensive income Items that may be reclassified to profit or loss Exchange differences on translating foreign operations-50425781422 Other comprehensive income for the period-50425781422 Total comprehensive loss for the period-27 87515 147-57 488-9 943 Total comprehensive loss for the period attributable to equity holders of the Parent-27 87515 147-57 488-9 943 Loss per share (in EUR, Note 5)-0.0410.022-0.086-0.015 Consolidated statement of financial positionUnaudited, in thousands of EUR30.06.202030.06.201931.12.2019 ASSETS Cash and cash equivalents21 89267 07038 877 Trade and other receivables22 43453 27037 606 Prepayments10 64112 1346 805 Prepaid income tax04667 Inventories37 03539 32637 255 Current assets92 002171 846120 610 Investments in equity-accounted investees403407403 Other financial assets and prepayments1 8663261 619 Deferred income tax assets18 67417 93418 674 Investment property300300300 Property, plant and equipment (Note 6)1 349 7331 373 4201 347 093 Intangible assets (Note 7)42 89845 64044 264 Non-current assets1 413 8741 438 0271 412 353 TOTAL ASSETS1 505 8761 609 8731 532 963 LIABILITIES AND EQUITY Interest-bearing loans and borrowings (Note 8)130 066108 19089 198 Trade and other payables86 951107 62698 926 Payables to owners633 4966 Income tax liability108 0490 Deferred income37 90146 63533 314 Current liabilities254 934303 996221 444 Interest-bearing loans and borrowings (Note 8)485 593495 970488 682 Non-current liabilities485 593495 970488 682 Total liabilities740 527799 966710 126 Share capital (Note 9)314 844361 736314 844 Share premium663663663 Reserves68 66670 89369 608 Retained earnings381 176376 615437 722 Equity attributable to equity holders of the Parent765 349809 907822 837 Total equity765 349809 907822 837 TOTAL LIABILITIES AND EQUITY1 505 8761 609 8731 532 963 Consolidated statement of cash flowsUnaudited, in thousands of EURQ2 2020Q2 2019Jan-Jun 2020Jan-Jun 2019 CASH FLOWS FROM OPERATING ACTIVITIES Net loss for the period-27 37114 890-57 569-10 365 Adjustments29 08436 13358 47165 377 Changes in: Receivables and prepayments related to operating activities9 649-11 56911 294-15 521 Inventories2 417-3 021220-3 585 Liabilities related to operating activities-9 78214 154-7 54521 704 Changes in assets and liabilities2 284-4363 9692 598 Cash generated from operating activities3 99750 5874 87157 610 Income tax repaid/paid-33-136-20-218 NET CASH FROM OPERATING ACTIVITIES3 96450 4514 85157 392 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant, equipment and intangible assets (Notes 6, 7)-14 344-18 456-41 414-43 718 Proceeds from disposals of property, plant, equipment36447142 Interest received0011 NET CASH USED IN INVESTING ACTIVITIES-14 341-18 392-41 366-43 575 CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from loans received (Note 8)0015 0000 Repayment of loans received (Note 8)0-14 834-14 667-31 334 Change in overdraft (Note 8)19 7479 15232 00519 009 Payments for settlement of derivatives000-1 029 Payment of lease liabilities (Note 8)-999-3 667-4 914-7 134 Interest paid-2 941-3 415-7 689-8 434 Payment of transaction costs related to loans00-2050 NET CASH FROM/USED IN FINANCING ACTIVITIES15 807-12 76419 530-28 922 TOTAL NET CASH FLOW5 43019 295-16 985-15 105 Cash and cash equivalents at the beginning of period16 46247 77538 87782 175 Change in cash and cash equivalents5 43019 295-16 985-15 105 Cash and cash equivalents at the end of period21 89267 07021 89267 070 Veiko Haavapuu Financial DirectorAS Tallink Grupp Sadama 5 10111 Tallinn, Estonia E-mail email@example.comAttachments * Tallink Grupp 2020 Q2 ENG * Tallink Grupp 2020 Q2 Presentation * Tallink Grupp 2020 Q2 Financial Data
Bacillus Calmette-Guérin (BCG) vaccination may reduce the risk of a range of infectious diseases, and if so, it could protect against coronavirus disease 2019 (COVID-19). Here, we compared countries that mandated BCG vaccination until at least 2000 with countries that did not. To minimize any systematic effects of reporting biases, we analyzed the rate of the day-by-day increase in both confirmed cases (134 countries) and deaths (135 countries) in the first 30-day period of country-wise outbreaks. The 30-day window was adjusted to begin at the country-wise onset of the pandemic. Linear mixed models revealed a significant effect of mandated BCG policies on the growth rate of both cases and deaths after controlling for median age, gross domestic product per capita, population density, population size, net migration rate, and various cultural dimensions (e.g., individualism). Our analysis suggests that mandated BCG vaccination can be effective in the fight against COVID-19.
ROBIT PLC PRESS RELEASE 4 AUGUST 2020 AT 2.30 P.M. ROBIT INITIATES EMPLOYEE COOPERATION NEGOTIATIONS IN FINLAND Robit initiates employee cooperation negotiations in its subsidiary, Robit Finland Ltd, in relation to possible changes and actions to ensure and strengthen the company’s long-term profitability and cash flow. Robit disclosed the temporary lay-offs carried out in its Finnish units with a press release on 2 April 2020 as a part of preparing for COVID-19 situation.”In the present business environment, we are obliged to carry out also permanent cost savings based on profitability reasons, preparing at the same time for a longer duration of COVID-19 effects,” states Group CEO, Tommi Lehtonen.Employee cooperation negotiations cover senior salaried personnel of Robit Finland Ltd. Negotiations may result in terminations based on financial or production-related reasons and may lead at most to a termination of five employees.Employee cooperation negotiations start on 10 August 2020 and last for two weeks, at most.ROBIT PLC Tommi LehtonenFurther information: Robit Plc Tommi Lehtonen, Group CEO +358 40 724 9143 firstname.lastname@example.orgDistribution: Nasdaq Helsinki Ltd Key media www.robitgroup.comRobit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 9 of its own sales and service points throughout the world as well as an active sales network in 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.
This business traveler has taken 33 flights and spent 160 nights in hotels in 2020 has been on the road for approximately 75% of 2020. To avoid contracting the coronavirus, he has adopted a specific regimen to staying safe on airplanes, in airports and in hotels. This what he does.
The recommendation is motivated not so much by the epidemiological situation in Finland, but rather the overall situation and signs of a second wave of infections worldwide, tells Mika Salminen, the head of health security at the Finnish Institute for Health and Welfare (THL).
The flag of Finland was raised at the International Vaccine Institute (IVI) Headquarters today during a ceremony welcoming the country's accession to IVI. Finland joined the Seoul-based international organization dedicated to vaccines for global health in response to the COVID-19 pandemic, committing an annual contribution of 500,000 EUR during the period of 2020 - 2025 to support IVI's core operations and 500,000 EUR for COVID-19 vaccine research and development this year.
Finland was praised in the US media as the ‘prepper nation of the Nordics’. It has been stockpiling emergency supplies since the Cold War. So, as the coronavirus struck, it was the envy of its neighbours, assumed to be well supplied with medical and survival gear. Yet, it soon became obvious that the preparations were not enough.
NOKIA, Finland — Nokian Tyres P.L.C. reported double-digit declines in half-year sales and earnings, as the COVID-19 pandemic continues to take its toll on business.Sales for the first six months of the year fell 27.2% to $607 million, due mainly to reduced demand caused by global lockdowns…
To reduce losses following the COVID-19 crisis, primary Finnish airline company Finnair has suspended many of its loss-making domestic flights to eastern and western Finland. One possible way to save the suspended domestic flight routes would be for the government to provide direct state aid to airlines that wish to operate them. However, such state aid would require EU Commission notification and approval.
Finnish tyre maker Nokian reported a smaller-than-expected second-quarter loss on Tuesday amid a drop in global car and tyre demand due to the coronavirus pandemic, though the smaller loss helped lift shares about 4% in afternoon trading. Nokian's operating loss was 22.8 million euros (20.58 million
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The Center for COVID-19 Situation Administration reported two new patients of the coronavirus disease 2019 who arrived from other countries and were quarantined. Please Support Pattaya Mail One of them is a Serbian football player aged 29 who arrived on July 19. He first tested negative and was brought to alternative local quarantine in Buri […]
The Finnish government has decided to reimpose internal border controls with another three countries in the Schengen Area starting from Monday, August 10, as a way to preserve the situation in the country related to the Coronavirus pandemic. During its session of August 6, the cabinet decided that border controls for arrivals from Andorra, Belgium […]
World Health Organization officials Wednesday urged young people to fight the urge to go parties and other gatherings to help prevent new outbreaks of COVID-19. During a virtual question and answer session from WHO headquarters in Geneva, WHO health emergencies chief Mike Ryan and WHO epidemiologist Maria Van Kerkhove said young people need to play a role in helping to slow or stop the spread of virus. FILE PHOTO: Executive Director of the World Health Organization's emergencies program Mike Ryan speaks at a news conference on the novel coronavirus in Geneva, Feb.
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