29 October 2014
TT-Line Company Pty Ltd recorded an after tax profit of $10.4 million for the year ended 30 June 2014, the company’s annual report, which was tabled in State Parliament today, said.
TT-Line’s underlying EBITDA (earnings before interest, tax, depreciation and amortization) in 2013/14 was $24.9 million, compared to $24.5 million last year thanks to increased passenger numbers and a strong freight performance.
Chairman Michael Grainger said increased passenger numbers and a strong freight performance had contributed to the result.
“It is the eighth year in a row TT-Line has achieved operational profitability,” he said. “The long-term performance of the company is even more remarkable when you consider the difficult and often volatile periods for the tourism and transport sectors that we have successfully operated through.”
Passenger numbers on Spirit of Tasmania increased by eight per cent to 357,619 in 2013/14 compared to the previous financial year (2012/13: 330,698). At the time of publication, forward bookings for 2014/15 were up by 13.5 per cent.
These passengers injected an estimated $280 million into the Tasmanian economy. The company’s direct and indirect investment in Tasmania, covering staff employment and the purchase of various goods and services, totalled approximately $52 million.
During the year, Spirit of Tasmania won gold at the national Australian Tourism Awards held at Luna Park in Sydney, in February 2014 for the country’s best Major Tour and / or Transport Operator category in front of more than 1,000 guests.
Mr Grainger said 2014 was the third year of the company’s partnership with the North Melbourne Football Club (NMFC), which played two games in Hobart.
“The games against St Kilda and Adelaide attracted sell-out crowds and provided an important vehicle for the company to promote Tasmania as a holiday destination to TT-Line’s key markets during the winter months,” he said.
“The partnership with the NMFC has delivered Spirit of Tasmania with significant brand recognition through national television coverage and also broader community and business benefits.”
Contact: Soniya Fernandez