Net profit of the Port of Tallinn (Estonia) down 2% - to about $36.8 million in 2009

Net profit of the Estonian state-owned Port of Tallinn (Tallinna Sadam, Estonia), according to provisional data for 2009 amounted to 407.8 million crowns (about $36.8 million), a year-over-year 2 percent drop. The port authorities posted 8 percent growth from a year earlier in consolidated revenue that totaled in 2009 1.267 billion kroons, a record number gained ever by the port, RZD-Partner.Ru. reports

EBITDA (earnings before interest, taxes, depreciation and amortization) of the port in 2009 totaled 840 million kroons, a 11 percent surge over the year before.

Tallinn port is the third largest port of the Baltic Sea next to St. Petersburg and Primorsk. Port of Tallinn consists of 5 ports or so-called port zones: Muuga, Old City Harbor, Paljassaare, Paldiski South and Saaremaa. Freight traffics via Port of Tallinn in 2009 amounted to 31.6 million tons, 8.6% more than in 2008.

Source: Port News