Transcript

Kadri Laanvee — Head of Investor Relations

Good afternoon, dear investors and everyone who is joining us today. Welcome to Infortar Group's webinar presenting the consolidated financial results for the second quarter and for the first six months of 2026. My name is Kadri Laanvee. I am Head of Investor Relations at Infortar, and joining me today is Martti Talgre, Managing Director of Infortar. We will begin with an overview of the group's operations and the key developments during the second quarter of 2026, followed by a presentation of financial results. After the presentation, we will answer the questions, and you can still submit the question by clicking the Q&A button at Teams. Today's presentation is being recorded and will be later made available on Infortar's investor webpage. Let us begin with the operational overview. I will now hand over to Martti.

Martti Talgre — Managing Director

Thank you, Kadri. Good afternoon, dear Infortar shareholders and investors. I'll have a very quick intro about Infortar before going to six months results. Infortar is Estonia's largest investment holding company. Our core businesses are three segments. It's maritime transportation, energy, and real estate. In addition to that, we have supporting segments, which are agriculture, engineering and construction, and printing services. Our largest investment in maritime transportation is nearly 69% stake in Tallink Grupp. In energy, we own Elenger Grupp, which operates across energy infrastructure, sales, and production. Our real estate portfolio covers approximately 141,000 sq m, and operates number of different properties, predominantly in Tallinn and around Tallinn. We operate in seven markets. Last year, consolidated results ended with EUR 1.8 billion of sales. EBITDA was EUR 228 million. Asset base, approximately EUR 2.6 billion, and equity close to EUR 1.2 billion. I think that those figures demonstrate both our scale of operations and also our financial capacity. I think that Infortar is a diversified investment company with a very strong asset base, creating value through active ownership, strong market positions, and long-term cash flow. Now let's move forward to our first six months results for 2026. The slide is on the screen. We see that the first half year results were clearly positive. Our group revenues were EUR 946 million, broadly unchanged compared to last year. At the same