Published: 2019-06-18 15:05:00 CEST
Tallinna Sadam
Company Announcement

Harju County Court started the proceedings on the claim filed by Saaremaa Laevakompanii and Väinamere Liinid against the subsidiaries of Tallinna Sadam

In 17 June 2019, Harju County Court stared the proceedings on the claim filed by AS Saaremaa Laevakompanii (in bankruptcy) (hereinafter: „SLK“) and Väinamere Liinid OÜ (hereinafter: „Väinamere Liinid“) in 28 March 2019 against the subsidiaries of AS Tallinna Sadam (hereinafter: „Tallinna Sadam“) OÜ TS Laevad and OÜ TS Shipping applying for compensation for damage caused by the alleged use of business secrets while participating in the public procurement of passenger transport services on Saaremaa and Hiiumaa lines. The amount of the claim in total is EUR 23.8 million, including SLK claim in amount of EUR 15.8 million and Väinamere Liinid claim in amount of EUR 8 million. The application in the civil proceedings no 2-19-4848 brought in action, is identical to the previous application submitted by the same plaintiffs in civil proceedings no 2-17-15955, which was dismissed by Harju County Court ruling in 8 March because the plaintiffs did not pay the court-ordered securities in total amount of EUR 14,000 to cover the estimated costs of the proceedings. The court ruling entered in to force on 28 March 2019.

The Management of Tallinna Sadam is of the opinion that the requests in the application of the claim are unjustified. Tallinna Sadam will file the response to the application of the claim by the deadline fixed by the court.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2018 serviced 10.6 million passengers and 20.6 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services. According to unaudited financial results, Tallinna Sadam group's sales in 2018 totaled EUR 130.6 million, adjusted EBITDA EUR 74.4 million and net profit EUR 24.4 million.

Marju Zirel
Head of Investor Relations
AS Tallinna Sadam