AS Tallinna Sadam (TSM1T) AGM 2026 summary

Opening remarks and agenda

• Majority shareholder Kuldar Leis, Minister of Infrastructure, delivered a video greeting and opening remarks.

• The agenda included board activity overview, annual review, financial results, dividend proposal, auditor appointment, board elections, remuneration principles, gender balance, and Q&A.

Financial performance review

• Revenue for 2025 was €118.7M, down 0.8% from 2024; adjusted EBITDA margin rose to 47.6%.

• Profit for the period increased by 17.3% to €22.5M; investments totaled €33.2M.

• Cargo volumes grew by 5.1% and passenger numbers increased by 1% compared to 2024.

• Dividend proposal of €0.073 per share, totaling €19.2M, with payment scheduled for 20 May 2026.

Board and executive committee updates

• Supervisory Board held 8 meetings in 2025, focusing on strategy renewal, commercial and investment decisions, and internal audit.

• Board self-assessment highlighted professionalism, clear roles, and a need to strengthen strategic focus.

• Kaur Kajak was recalled from the Supervisory Board and replaced by Merike Saks for a term starting 1 May 2026.