Q2 Results of 2025
Infortar’s second-quarter sales volumes reached a record-breaking €505 million, exceeding the result of the same period last year by more than 2.5 times.
A recording of the webinar presenting the second-quarter results is available HERE.
"The second quarter was successful in the energy sector – we strengthened our market positions, increased both energy sales volumes and profitability, particularly in the Polish market and in infrastructure," said Ain Hanschmidt. "Maritime transport also showed signs of recovery, reflecting renewed customer confidence and the restoration of travel capabilities. In the real estate and construction segment, we handed over the Pärnu bridge to the client and continue to work on several major infrastructure projects, including the construction of the Rail Baltica main line.
One of the most notable transactions of the half-year also took place in the second quarter – the signing of the agreement to acquire Estonia Farms. For Infortar, this marks a significant expansion into agriculture – Estonia Farms and the Halinga farm acquired last year produce 160 tonnes of milk daily, accounting for 6.5% of Estonia’s total milk output. Integrating milk production with circular economy practices and renewable energy enables us to further expand the bioeconomy sector and produce domestic green gas.
This half-year, we have invested €38 million across various projects, including the construction of one of Estonia’s largest biogas plants in Halinga, a new solar power plant in Olaine Municipality, Latvia, and repair and upgrade works on the cruise ship Baltic Princess. While the energy segment’s profitability has grown and EBITDA has reached €20 million, the maritime transport result was affected by only two idle vessels (compared to four previously) and dividend withholding tax. The construction and real estate segment has remained on a path of stable growth."
Elenger Group increased its second-quarter sales volume by nearly a quarter compared to the same period last year, reaching a total of 4.9 TWh. The company’s gas sales market share in the Finland-Baltic region grew to 28%. Energy sales in Estonia accounted for 10% of the second-quarter total in 2025.
Since 1 August of last year, Infortar has also been consolidating the results of Tallink in its reports. In Q2 2025, AS Tallink Grupp transported a total of 1,488,128 passengers, representing a 2.5% increase compared to the same period last year. While the transport of passenger vehicles grew by 1.4%, reaching 212,782 units, the number of cargo units transported fell by 22.8% to 67,038 units.
Infortar’s second-quarter EBITDA was €57.4 million and pre-tax profit €15.5 million, marking a 50% increase from Q2 2024. However, due to a €17 million income tax charge, the net result for the quarter was a loss of €1.6 million. As of 30 June 2025, total assets amounted to €2.5 billion.
The Group’s sales revenue for the first half of the year totalled €951 million, with a net loss of €14 million.
As of 30 June 2025, the company’s equity stood at €1.174 billion, and total assets at €2.499 billion. In July this year, the company paid out €31 million in dividends.
